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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.
  15. 27 March 2011 Last updated at 13:18 GMT Share this page * Facebook * Twitter * Share * Email * Print Japan nuclear crisis: Radiation spike report 'mistaken' breaking news The operators of a stricken Japanese nuclear plant have apologised for a "mistake" in reporting a radiation spike 10 million times above normal. Tokyo Electric Power Company, which has previously been criticised by officials for its handling of the crisis at the plant, said it got the readings wrong. Despite the mistake, the radiation spike at reactor 2 was still very high and enough to evacuate
  16. Covered bonds OK but banks want more * Scott Murdoch * From: The Australian * March 25, 2011 12:00AM * Increase Text Size * Decrease Text Size * Print * Email * Share o Add to Digg o Add to del.icio.us o Add to Facebook o Add to Kwoff o Add to Myspace o Add to Newsvine o What are these? AUSTRALIA'S bank bosses have urged the government to take bolder steps to allow them to diversify their funding bases and ease cost pressures, following a decision to allow banks to issue covere
  17. Why it Won’t Take a Shock to Knock House Prices for Six by Kris Sayce on 24 March 2011 We thought housing articles couldn’t get any worse after reading the effort from HSBC’s Paul Bloxham last week. But oh boy. We were wrong. The Sydney Morning Herald’s Jessica Irvine has knocked out what is, in our opinion, the year’s worst housing bubble article – that’s a big claim when it’s still only March! But it’s hardly surprising, seeing as much of the material appears to have been drawn from Mr. Bloxham’s half-baked effort last week. After all, if you take a badly baked cake and mix it up, wha
  18. "In turn, the government has guaranteed savers that their retail deposits will be refunded if the banks go bust." I think the guarante runs out at the end of this year...... In all probabily the government will extend it........... the new sercured bonds give preference to the holders of these bonds over the share holders......... if I was a bank share holder I would be concerned allso Moodies have just given a negitive out look for Australian banks.
  19. Pond 321, thanks for that you have your finger on the pulse
  20. February Home Sales Plummet As Housing Market May Have Further To Fall Home Sales First Posted: 03/21/11 12:22 PM Updated: 03/21/11 03:32 PM Inspiring Greedy Typical Scary Outrageous Amazing Innovative Infuriating Read More: Economic Recovery, Existing Home Sales, Home Prices, Home Sales, Housing Market, National Association Of Realtors, Business News share this story 65 20 65 908 Get Business Alerts Sign Up Submit this story digg reddit stumble Sales of previously owned U.S. homes fell sharply in February, after several months of increases, according to a report released
  21. Why negative gearing has failed Unconventional Economist Published 6:27 AM, 22 Mar 2011 Last update 10:30 AM, 22 Mar 2011 MacroBusiness A key reason why I started writing was because the quality of commentary and debate around housing and other important issues had deteriorated so badly that the media had become little more than a mouthpiece for vested interests. Lazy journalists were writing puff piece after puff piece parroting the latest press release or one-eyed piece of research from real estate spruikers, banks and other so-called ‘experts’. My main goal was to add a con
  22. He has a blog www.moneyandmarkets.com mostly its about telling people how he "told you so" and how "if you pay me I will help you make $" . but I recon he may be correct about the dollar unless interest rates go up big time the USD in doomed.
  23. Why Property Investing is for Mugs Tuesday, 8th March 2011 Melbourne, Australia By Kris Sayce * Why Property Investing is for Mugs Have you ever wondered why property investors just can’t bear to admit that house prices could fall? I mean, ask any other investor and they’ll admit it’s possible for their favourite asset class to drop. It doesn’t matter whether they’re share, gold, bond or art investors, every last man jack of them will say, “Prices can fall as well as rise.” But not property investors. Property prices always go up is their mantra. Even in the face of evidence to t
  24. Construction slumps for nine straight months By finance reporter Rebecca Hyam Posted 9 hours 43 minutes ago Building construction site with wooden beams in house roof at Gungahlin in Canberra's north The Housing Industry Association says policy changes are needed to encourage home building (ABC TV News - file image) Australia's building sector contracted again in February, but there was a slight easing in the pace of decline. The Australian Industry Group's Performance of Construction Index rose 4.4 points in February to a reading of 44.6. However, that is still well below the key 50-po
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