On Monday the Real Estate Institute of Victoria made public its submission to the Victorian Government on the framing of the state budget. They are big-hearted enough to call for an end to the First Home Bonus – a ‘gift’…
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.
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…
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…
Our film Real Estate 4 Ransom is now available online Real Estate 4 Ransom from Real Estate 4 Ransom on Vimeo. More details.
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.
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…
Reprinted from academic e-zine The Conversation In a previous article, I analysed four of the common arguments used by those who deny there is a bubble in Australia’s residential property market. The bubble deniers have employed other explanations for the…
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…
The Australian property market ended 2011 on the ground in a foetal position after a serious assault by Harsh Reality. Symptoms include: • A year’s supply of unsold houses on the market • Low and falling building applications • Low…