Trusting the Murdocracy

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photo credit: Lee Carson The term corporate espionage has been taken to a new level in what surely ranks as a more significant than the phone hacking scandal.The revelation that News Corporation, via its News of the World Paper, hired a covert hacking team called NDS to dismember competitors revenue generating mechanisms has reminded us […]

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What a party; what a hangover!

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Asset prices falls come straight off our personal equity, our savings, while liabilities – mainly the home mortgage – are payable in full with interest from after-tax incomes. Returning to – overshooting – the long-term land price average is going to be quite an experience for anyone with big borrowings.

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Don’t Buy Now! campaign saves buyers $58,000 in one year

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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 […]

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Privatisation and Public Finance

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photo credit: Peter Blanchard The failure of both sides of politics to understand the role of effective public finance is undermining Australia’s future. Stamp duties in Victoria are plummeting, undermining the Baillieu government’s determination to deliver a budget surplus or build infrastructure. Instead of looking at why stamp duties are dropping and what can be […]

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How Our World Works

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The Basics in 4 Easy Lessons Tuesdays in April starting on the 3rd, 6 – 8pm Presenter: David Brooks 1/27 Hardware Lane, Melbourne Free event – RSVP You are invited to a free course presented by Prosper Australia’s David Brooks on the basics to economics. “Let no man imagine that he has no influence. Whoever […]

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A toxic mess: vested interests and the real estate industry

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Young academic Philip Soos is an outspoken critic of those who seek to ‘game’ Australia’s land market. This scathing indictment from The Conversation today. Conflicts of interest undermine the quality of advice and policy. It is critical to the functioning of markets and government that parties involved are free of conflicts, especially monetary ones. We […]

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Was Lloyds Bank the ONLY silly lender in Australia?

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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. […]

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Why Does Land Cost the Earth?

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Our film Real Estate 4 Ransom is now available online Real Estate 4 Ransom from Real Estate 4 Ransom on Vimeo. More details.

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House prices are falling – somewhere else

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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.

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How government policy provides rich pickings for Australia’s billionaires

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Philip Soos’ latest withering attack on privilege from The Conversation today. Over the last year or so, the Occupy movement has garnered wide attention, with people of all backgrounds gathering to protest the deteriorating social conditions. However, these grievances have been running for decades. The bottom 80% of US income earners have seen their wages […]

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https://prosper.org.au/2012/03/