Prosper Australia

The currently deflating land bubble will erase wealth with dazzling speed. Sadly, striking falls in land values will have a greater impact on Australian wealth than any other advanced country.

18 October 2011 MELBOURNE:- “House prices are falling in Melbourne faster than US prices did when that property bubble burst,” Prosper Australia Campaign Manager David Collyer said today. “The enormous housing oversupply and sudden buyer caution have dramatically switched the Australian trend. Anyone standing aside from the market will have saved themselves an average $50,000 [...]

photo credit: tm-tm On Sunday 9 October, The Sunday Age published an article by Chris Vedelago Buyers Nibble but No Big Bite. I would link, but can’t see it in The Age online. Here are the money quotes: “But a survey conducted by The Sunday Age found that only 35 per cent of properties actually [...]

photo credit: Jakob E 28 September 2011 MELBOURNE:- 40,000 young families turned away from a lifetime of heavy debt and bitter disappointment in the last year refusing to accept Australia’s grossly inflated house prices, according to a survey overnight by website RateCity. “Here is the evidence FHB’s are on strike, as we announced in March,” [...]

photo credit: h.koppdelaney By Philip Soos This article first appeared at www.theconversation.edu.au and is republished under Creative Commons. One aspect of housing and stock market bubbles continually repeats: the vast majority of economists either miss or deny their existence. In recent years, enormous asset bubbles have burst in many countries. The most notable have been [...]

photo credit: Soon. 17 September 2011 MELBOURNE:- Exponential growth in the number of unsold properties overhanging the Melbourne market continues, up 18 per cent in the last month alone. “In the last five months ‘Stale Stock’ in Melbourne postcodes 3000-3207 has exploded, from 19,800 to 45,499 properties. In the wider Melbourne and environs, 70,856 houses [...]

photo credit: :: Hello Mizu ::     18 August 2011 MELBOURNE:- Landowners are about to be economically decimated as Australia’s severely unaffordable house prices reverse, says Prosper Australia. ‘Stale Stock’ on the market in Melbourne is growing exponentially The sheer volume of unsold property is now indigestible Recent price falls must accelerate “We confirm [...]

There are currently 377,300 houses for sale across Australia, according to SQM Research data released today – up 21.9 per cent on last year. Why is this significant? Well, we have some 8.9 million houses. A quick back of the envelope calculation tells me 3.79 per cent of all our houses are for sale right [...]

At this market climax, let me remind all of the risks of compulsive, over-optimistic ambition. In Leo Tolstoys’ tale, ‘How Much Land Does A Man Need?’ written in 1886, a wealthy peasant named Pahlom is told of the rich earth in the land of the Bashkirs beyond the Volga. They are simple folk and he [...]

photo credit: Dean Terry 5 August 2011 MELBOURNE:- “Australia’s housing undersupply myth has just been exposed. We have overbuilt more than the USA,” Prosper Australia Campaign Manager David Collyer said today. “Prosper calculates Australia now has over 125,000 excess dwellings. “Fresh analysis of ABS data by Philip Soos for Prosper Australia and comparison with peer [...]