BLOG: boom-bust
“No Visible Means of Support”
photo credit: DrWurmA 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...
Time to buy an Italian sports car – not
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.
House price falls steeper that the US
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...
The warnings come thick and loud
photo credit: tm-tmOn 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...
No Reform – Paradise Postponed
photo credit: Steve - wants a job at Chester ZooMELBOURNE and CANBERRA:- Australians had high hopes the Tax Forum would herald the end of taxes that distort and diminish economic activity as Ken Henry recommended. Sadly, these hopes have been dashed, says Prosper...
40,000 First Home Buyers On Strike
photo credit: Jakob E28 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...
Why didn’t economists see Australia’s property bubble?
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...
Melbourne ‘Stale Stock’ hits 70,800
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...
Prosper affirms ‘Don’t Buy Now!’ warning
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...