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blue skies

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  1. Australia Housing Cracks Emerge Across Queensland Coast Queensland Coast Slips as Australia Housing Cracks Emerge An aerial view of Surfers' Paradise, a northern suburb of the Gold Coast in Australia. Photographer: Patrick Hamilton/Bloomberg Queensland Coast Slips as Australia Housing Cracks Emerge Riverfront residential properties are framed by highrise towers in Surfers' Paradise, a northern suburb of the Gold Coast. Photographer: Patrick Hamilton/Bloomberg Queensland Coast Slips as Australia Housing Cracks Emerge A worker stands in front of Soul, a residential tower under construction
  2. RBA and government incentives hurt housing market THE efforts by the government and the Reserve Bank to prop up the housing market during the global financial crisis are largely to blame for its sick state now. The boosts to the first-home buyers grant and the slashing of interest rates brought forward demand and left a hole once the stimulus disappeared. The rapid rise in rates since October 2009 has compounded, if not caused, the new conservatism in the household sector. Add in the pro-cyclical influences of the tax system, and there are the ingredients for a housing slump. The Internati
  3. Australian Home Sales Sink, Luxury Units Sell for Half Cost; New Home Loans at 10-Year Low; Australia Retailers in Deep Trouble; Party Officially Over Things are not looking too hot down under. Not only is the Australia housing collapse picking up steam, but Australian retailers are struggling mightily in spite of rising sales numbers. Bloomberg reports Australia Retail Sales, Loans Rose in February, Sending Dollar to Record Australian retail sales rose in February and lending to businesses climbed for the first time in nine months, according to government reports that sent the nation’s
  4. EDIT: Where IS Bardon anyway? .......................................It is most out of his charactor not to be jumping on every post . I recon it must be some thing very grave. If I was to gess I would say, Kicked out ? Dead? Debtors Prision? or maybe he finally understands the housing bubble has run its course and is running for the exits. I did get a bulldust personal chat from "moderators" whos listed friend was Bardon . I gess he may have had his wings cliped.
  5. This Time Had Better Be Different: House Prices and the Banks Part 2 by Steve Keen on April 11th, 2011 at 8:57 am Posted In: Debtwatch Click here for this post in PDF Figure 1 In last week’s post I showed that there is a debt-financed, government-sponsored bubble in Australian house prices (click here and here for earlier installments on the same topic). This week I’ll consider what the bursting of this bubble could mean for the banks that have financed it. Betting the House For two decades after the 1987 Stock Market Crash, banks have lived by the adage “as safe as houses”. Mortgage le
  6. First home buyers being left for dust in boom SIMON JOHANSON April 4, 2011 POPULATION pressures and record prices are derailing the dreams of frustrated first home buyers. Last Monday, research from Bob Birrell and Colin Keane indicated that first home buyers were being priced out of the last bastion of affordable housing, new estates on the city's fringes. That was followed by Friday's revelations that Melbourne's population has soared by more than 600,000 in the last nine years. Advertisement: Story continues below Most of those new arrivals decided to live, not surprisingly, in the o
  7. Property boycott push gains ground * Herald Sun * From: Herald Sun * March 31, 2011 11:30PM A CAMPAIGN urging first-home buyers to take part in a "buyer's strike" in an effort to drive down property prices is gaining momentum. Prosper Australia, a tax reform lobby group, warns that the property bubble is about to burst, and first-home buyers should stand aside, because they will be the worst affected when real estate prices fall. Spokesman David Collyer said first-home buyers face financial ruin if house prices crash to a point that the market value is less than their debt.
  8. Home loans sink to decade low Chris Zappone April 6, 2011 - 2:10PM Home loans dropped for a second consecutive month in February with New South Wales posting its biggest monthly decline in 14 years. The share of first-home buyers shrank further. The number of home loans fell 5.6 per cent to 45,393 in February, following a revised 6.3 per cent fall in January, according to the Australian Bureau of Statistics. Economists polled by Bloomberg tipped a 2 per cent fall. The total was lowest number of home loans approved in a month since February 2001. Advertisement: Story continues below Home
  9. This Time Had Better Be Different: House Prices and the Banks Part 1 by Steve Keen on April 1st, 2011 at 10:02 am Posted In: Debtwatch Click here for this post in PDF Before the US house price bubble burst, its banks and regulators claimed (a) that there wasn’t a bubble and ( that, if house prices did fall, it wouldn’t affect the solvency of the banks. The same claims are now being made about Australian house prices and Australian banks. On the former point, Glenn Stevens recently remarked that: “There is quite often quoted very high ratios of price to income for Australia, but I thi
  10. House investors to lose interest Source: Herald Sun THE bull run in house prices is set to run out of steam as investors realise that credit costs are dwarfing anaemic yields, according to a senior banker. National Australia Bank finance chief Mark Joiner yesterday said the property market was fully valued and likely to languish. "I don't think property can go up from here," he said. "It's at the top of the range on affordability. It's well out of line internationally." Mr Joiner's comments followed a speech in which he called for the Federal Government to further bolster the savings rat
  11. Perth house prices slump in difficult market Chris Zappone March 31, 2011 - 1:40PM Be the first to comment Ads by Google Perth Property Valuers www.ValuationsWA.com.au Residential & Commercial Valuers BEST Price Guaranteed - Please Call The bad news for Perth's real estate market continues with the median house price dropping 1.9 per cent in the three months leading to February, according to the latest RP Data figures. Perth was the second-worst performing state in the country, with only flood-hit Brisbane at 3.3 per cent producing a steeper drop. The survey of the housing
  12. Ireland leads world in house prices fall By Niamh Hennessy Wednesday, March 30, 2011 HOUSE prices fell in Ireland by more than anywhere else in the world last year. a d v e r t i s e m e n t Experts are now calling for a proper index of prices in Ireland, saying that without it we will never know when the market has hit bottom. The Knight Frank house price index found that house prices fell here by 10.8% last year while they rose by 20.1% in Hong Kong, which was top of the list. Globally house prices rose by 2.8% last year, led by Asia-Pacific (7.5%), the Middle East (5.3%) and South Am
  13. 10.8% plunge in Irish house prices (UKPA) – 9 hours ago House prices in Ireland are falling at a double-digit rate but property values in other countries are showing signs of stabilising, research has indicated. The average cost of a home in Ireland dropped by 10.8% during 2010 as the market suffered from the fall-out of the country's economic problems, according to estate agent Knight Frank. The drop was the biggest recorded for the total of nearly 50 countries looked at by the group. The pace of the falls are also showing little sign of easing, with property losing 3.5% of its value duri
  14. First up there is a lot of emotion driving peoples thoughts. I recon the reality is people will have to think about causes and less about quick fixes. The world is crowed out, more so in Asia. Japan is in many ways trying to deal with reducing its population, but the present realities are such that it must choose the best of all the dredfull posibilities.
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