The FIRB’s new milk teeth

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The report of the parliamentary committee inquiry into the Foreign Investment Review Board is out. The inquiry has been conducted with great fanfare to edify the Liberals’ rising star and  MHR for Higgins Kelly O’Dwyer. And what are its findings, once the party-political propaganda is removed?  A national register of land title transfers that records […]

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Victoria Liberals set to privatise Land Titles Office – a core government function

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Media Release 26 November 2014 “The Napthine government policy announcement it will sell Victoria’s Land Titles Office if re-elected is a grave error and to be condemned,” David Collyer Policy Director Prosper Australia said today. “The Land Titles Office is a core government function, as fundamental as the judiciary and Parliament itself. “It makes legal […]

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Sydney brick-maker says “It’s all in the land.”

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The AFR today reports Brickworks Ltd calling for steep increases in Sydney land supply to assist affordability for homemakers. Developers on the outskirts of all the major Australian cities are dribbling out lots piecemeal – stifling supply, household formation and economic activity. It is entirely rational for them to seek to maximise their profits in […]

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ASIC ignores reports of mortgage fraud by lenders

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  by Paul Egan & Philip Soos- Co-Author’s ‘Bubble Economics: Australian Land Speculation 1830 – 2013’   Exuberant household credit growth over the last twenty years has a sinister dimension: the likelihood of widespread predatory lending and bank fraud. Every developed country, including Australia, has laws to regulate and hopefully prevent predatory lending, defined as providing credit […]

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Hoarding Without Consequence – transcription

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A transcription of the Renegade Economists interview with Catherine Cashmore, regarding the 7th Speculative Vacancies report. Read the show notes here. Subscribe to the weekly the Renegade Economists radio show, featuring Georgist insights we wish were on the mainstream media. Hoarding Without Consequence by Renegadeeconomists on Mixcloud Transcription Karl Fitzgerald: Alright listeners, you’ve heard it […]

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Negative Equity – Australia’s Wall of Pain

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Recent stress-testing of Australian banks by the Australian Prudential Regulation Authority showed they would survive, though their capital would be sorely tested. This analysis did not take into account an important feedback loop: the erasure of the equity of heavily mortgaged borrowers. The AFR reports an AMP study: AMP Capital’s head of credit markets Jeff […]

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Nathan’s Story

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My partner and I are 28. We went to an open for inspection of a house we liked and thought we could afford. We turned up just before he closed. There was an older couple there in their 50-60’s. The price was ‘from $600k+’ on the sign in sheet we left with him.  On it […]

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7/10 inner Melbourne Apartments owned by investors – ABC 24

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Catherine Cashmore discusses the 7th Speculative Vacancies report on ABC TV.

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Speculative Vacancies report presentation

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Innovative Vacant Housing measure – Speculative Vacancies 2013 from Karl Below is Catherine Cashmore’s audio presentation for the event – the 7th Speculative Vacancies report. Click through the powerpoint slideshow in time to the mixcloud audio file below. (Unfortunately this is the only technology available at present.) Read the transcript of Catherine’s Renegade Economists radio interview […]

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Australia’s twin economic diseases

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Australia has two infections that compromise our economic health. Their remarkably similar symptoms – fever, delirium, impaired judgement – muddy diagnosis and hamper effective treatment. Most are familiar with ‘Dutch disease’, where a resource bounty – in Holland’s case off-shore oil and gas production – lifts a country’s exchange rate, makes other activity like manufacturing […]

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https://prosper.org.au/2014/11/