Prosper Australia

28 March 2012 Young homebuyers who took Prosper Australia’s advice – Don’t Buy Now! – exactly a year ago have typically saved themselves $58,000. “I congratulate everyone who stood aside from this dreadful Ponzi scheme known as the Australian property market,” Prosper Australia Campaign Manager David Collyer said today. “These savings are staggering – they [...]

Lloyds Bank is selling a $2.1 billion book of bad Australian commercial property loans and expects to take a fifty per cent haircut. There is more. Morgan Stanley is alleged to have bought a Lloyds’ Gold Coast loan book with a face value of $700 million for between 30 and 40 cents in the dollar. [...]

The land market is totally ‘gamed’ by spruikers spouting charming but misleading anecdotes and snippets of information, merely to foster ‘confidence’ and keep the mammoth Ponzi scheme going – even in a falling market.

23 February 2012 • Potential First Home Buyers wary of commitment • Volume of stock for sale a swollen flood • Consumers dis-leverage Australia-wide • Banks unwilling to finance credit creation Prosper Australia predicts substantial house price falls this calendar year across Australia as the mismatch between supply and demand worsens. “Current economic settings will [...]

Citizens retreat confused when talk turns to Economic Rents. The taxi industry is an excellent example of how assets granted by government create economic rents – at the expense of the wider community. There are 5181 taxi licences in Victoria, of which the Department of Transport’s Victorian Taxi Directorate leases about 1100 licences to operators [...]

ABS Inflation data out today shows a big fat zero: we have nil inflation, at least for this quarter. The consequences for interest rates are profound. Mortgage rates may seem reasonable at 6 to 7 per cent.  In practice they are agony. A real interest rate of 6 per cent is a significant transfer of [...]

12 January 2012 Prosper calls for timely, rigorous and transparent statistics on property sales to be collected by the ABS. “Property is the single largest asset market in Australia – worth around $5 Trillion,” Prosper Australia Campaign Manager David Collyer said today. “It is of profound importance to individual and national prosperity. The lack of [...]

The Australian property market ended 2011 on the ground in a foetal position after a serious assault by Harsh Reality. Symptoms include: • A year’s supply of unsold houses on the market • Low and falling building applications • Low and falling finance approvals • Failing auctions nationwide • First home buyer indifference • Universal [...]

16 December 2011 MELBOURNE:- The number of properties offered for sale and unsold in Melbourne continues to grow. In the last 30 days ‘Stale Stock’ has risen 4.2 % to 94,467, after 6.2% growth last month. This follows a 20.4 per cent rise in September and an 18 per cent rise in August. “Supply and [...]

Australian land prices are falling. They will continue to fall until their fundamental economic link to incomes and rents are fully restored. Many with large mortgages will be crushed by these towering liabilities when their equity is erased. This claim is bitterly resisted by the politico-housing complex and most homeowners, who see the exponential land [...]