Just say No!

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Last week, RBA governor Glenn Stevens assured us the big Aussie banks are solvent, that he can and will print dollars if necessary and cannot see a housing bubble pop when he examines the entrails. The only thing in the Guv’s speech we may be certain of is the printing press part. Prosper sees many […]

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Funding Infrastructure

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Letter to the Editor The Age 24/07/2012 Using the uplift in private land values to fund infrastructure projects (Doncaster railway line ‘could be built for $840m) is one of the recommendations of the Ken Henry review of taxes that was immediately abandoned by the federal government. Such a reform would threaten the windfall profits of […]

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Patents: An Immoral and Inefficient Anachronism

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by Terence Dwyer Submission to the Productivity Commission’s Compulsory Licensing of Patents public inquiry. Patents are immoral, contrary to the principles of natural liberty, natural law, to the common law and detrimental to the progress, prosperity, safety and health of all peoples. The patent system should be destroyed for same reason that slavery was destroyed […]

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Beware the rent-seeking organisation: don’t be dudded by housing data

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Reprinted from The Conversation One of the more interesting outcomes the 2011 Census produced was the figures concerning the housing market. The reason for this interest is how the results contrasted with the idea that Australia currently suffers from an acute housing undersupply or shortage. Taking the lead in promoting this idea is the National […]

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The Weaponisation of Economic Theory

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by Michael Hudson Europe’s three needs: a debt write-down, a real central bank, and a more efficient tax system Brussels Talk, Madariaga College, Governing Globalisation in a World Economy in Transition, June 27, 2012 Courtesy of michael-hudson.com What can Europe learn from the United States? First, the United States – like Canada, England and China […]

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Five reasons First Home Buyers should stand aside

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The Don’t Buy Now! campaign urges the landless not to buy real estate until prices reset, just as they have in the countries we compare ourselves to. Property is grossly over valued measured against earnings or the rental income it can generate. This means young adults must take on a lifetime of heavy debt merely […]

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Nobody wants a mortgage

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11 July 2012 ABS Housing Finance data out today shows a 7.3 per cent fall in commitments to buy new-built houses in a singe month. This follows a 9.3 per cent fall the month before. “Established house price are now at such a discount to newly-built that buyers are choosing older houses in better locations,” […]

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Don’t Buy Now! Public Meeting

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7.00 pm 19 July 2012 NORTHCOTE TOWN HALL High Street Northcote The Great Australian Dream is a Nightmare! An entire generation priced out of the market 380,000 unsold houses without a family An economy drowning in mortgage debt WHY IS THIS SO? David Collyer with the charts Karl Fitzgerald’s documentary Real Estate 4 Ransom Come […]

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Housing flips into oversupply: it’s official

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3 July 2012 ABS Census data just released shows 1.1 million fewer households and 595,000 fewer houses in Australia than previous estimates; Morgan Stanley researchers calculate Australia now has a 341,000 OVERSUPPLY of houses. The Census revision obliged National Housing Supply Council chairman Owen Donald to recant recent NHSC calculations of a 228,000 dwelling undersupply […]

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https://prosper.org.au/2012/07/