No more levers to pull

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photo credit: Elsie esq. Australian property prices are so over-valued their return to the long term trend will make the painful bubble burst in the USA look like a child’s picnic. Government, major banks and property speculators used every tool in reach to keep alive this Ponzi scheme – Hyman Minsky’s term for borrowers reliant […]

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Melbourne ‘Stale Stock’ getting smelly

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photo credit: Ennor 17 November 2011 MELBOURNE:- The number of unsold properties in Melbourne has risen another 6.2 per cent in the last month, following a 20.4 per cent rise earlier, and an 18 per cent rise the month before that. “’Stale Stock’ on the market is up a net 51 per cent in three […]

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A nation renting

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Developer Levies drive up land prices

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10 November 2011 MELBOURNE:- The Growth Corridor Plan announced by the Baillieu Government presents Melbourne with big challenges. How to pay for the massive infrastructure needed is front and centre – and unmentioned in the Plan. “Demand for new and better transport links around developments and the extra traffic burden they bring onto the existing […]

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“No Visible Means of Support”

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photo credit: DrWurm A term employed in Vagrancy statutes to test whether an individual has any apparent ability to provide for himself or herself financially. The Law frowns upon people who make their living outside formal employment. Yet it bows deep before land and property. Irrational confidence has inflated property prices so far they bear […]

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Progess Edition 1103

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Download Progress Sept – Nov 2011 (PDF 4.5MB) Letter from the Editor This edition of Progress carries the theme “Framing the message of Henry George in the 21st century”. Thank you to everyone who contributed articles, I’m pleased with the quality and diversity of the work received. You will find a broad and intelligent analysis […]

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Property’s “Signs of Stabilising”

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photo credit: lynac The bullhawks are out in force, talking up last quarter’s smaller than expected price falls. Somehow here is evidence of the end of the downturn. Risk on! Throw caution to the winds! Really? It is easy to see why the bullhawks focus on that and claim it is simply noise, not a […]

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https://prosper.org.au/2011/11/