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…
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…
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…
26 June 2012 Homebuyers who took Prosper Australia’s advice – Don’t Buy Now! – exactly five quarters ago have typically saved themselves $64,000 from the fall in property prices compared to someone who bought. Major land price falls mean a…
13 June 2012 Victoria Planning Minister Matthew Guy has made big land price falls on Melbourne’s outskirts a certainty with his extension of the metropolitan boundary by around 7000 hectares. “The gaping chasm between developer supply and buyer demand has…
Corrected at 1730 to adjust (upward) the renovation figure. Many thanks, Steven Shaw for pointing out my error. Toby Johnstone is out again in the SMH recording how two brothers wasted nearly two years of their lives and endless toil…
The solid new trend of falling house prices is confirmed by the ABS today with real prices now in retreat for seven quarters and the downward path accelerating.
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…
23 February 2012 • Potential First Home Buyers wary of commitment • Volume of stock for sale a swollen flood • Consumers dis-leverage Australia-wide • Banks unwilling to finance credit creation Prosper Australia predicts substantial house price falls this calendar…
ABS Inflation data out today shows a big fat zero: we have nil inflation, at least for this quarter. The consequences for interest rates are profound. Mortgage rates may seem reasonable at 6 to 7 per cent. In practice they…