by Bryan Kavanagh As featured in today’s Business Age, 28/03/08 WHEN it mattered, the US Federal Reserve, US banks and rating agencies failed the risk-management test — in much the same way that Australia is now failing it. This is because none of these bodies comprehends the manner in which the real estate market leads [...]
Last night saw SBS’s excellent Insight program tackle housing affordability under the title Out of Reach. Over 270 comments have been posted since the event, giving warrant to the excellent comparing host Jenny Brockie does each week. As probably the fourth panel type forum seen on non-commercial TV over the last year, this one was [...]
Negative Gearing provides cream for nation’s wealthiest Our topsy turvy tax system sees commentators claiming: “In most businesses, losing money is frowned on. In this one, however, it has become the spirit of the game, with landlords writing off their claimed losses against tax, and effectively using the savings to subsidise their property investment.” So [...]
With financial turmoil building daily, we have asked leading financial commentator Stephen Mayne to dissect the spreading credit crunch. Bear Stearns, Carlyle, North Rock, RAMS – who is next? Also joining us is Mairied Sullivan from the ‘Save Tara’ campaign on one of Ireland’s most sacred regions – Tara hill. We will hear the background [...]
With the recent passing of the highly respected Georgist Clyde Cameron, we feel it is timely to look at the wisdom of his core beliefs: EXTRACT FROM AN ADDRESS BY THE HON.CLYDE R. CAMERON A.O. But now it is an oversimplification to say that the lessons of the Maritime Strike of 1890 were the sole [...]
Monday April 21st, 7pm, Prosper Australia rooms, free Inspired by the gammut of short sighted housing policies dominating the press, Prosper Australia has invited our resident expert Leo Foley to discuss the role of Community Land Trusts in assisting housing affordability. Leo will discuss how CLT’s have become a successful model for CoHousing cooperatives in [...]
Tune into www.3cr.org.au from 5- 6pm today or listen via good ole AM radio – 855 AM on the dial as hosts Karl & Rayna interview Steve Keen about his upcoming presentation, “Deeper in Debt” (tomorrow night in the Prosper Offices – book soon as places are filling fast). Steve will be asked to explain [...]
The front cover of today’s Herald Sun has a huge photo of Horse Stud owner Steve Spiteri (looking hard done by!) with a caption: ‘Thanks Premier: Steve Hits Paydirt’. Yesterday’s announcement to rezone all land residential within Melbourne’s 2030 boundary has made landowners, typically land bankers and the occasional farmer on the edge of the [...]
Prosper Australia today applauded the State Government’s announcement for taking housing affordability more seriously. However, questions must be asked about who benefits most from this announcement. “Today’s declaration of residential zoning has made Victoria’s land bankers more money in a day than many earn in a lifetime.” “Questions must be asked why the government is [...]
Below we can see 2 examples of former Commonwealth land being released ‘to the market’. Snapped up by a developer in Melbourne’s most impoverished neighbourhood (Braybrook), such large ‘land banks’ are manipulated to drip feed houses to the markets so that high prices are assured. The building of homes is moderated by land bankers to [...]