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After Fannie Mae - More Mega Bear News In Mainstre

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The Reserve Bank (its like the guys that fix the interest rates here) never say anything unless they are REALLY worried. This is ominous.

UNEDIT!

Edited by Elizabeth

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Guest Charlie The Tramp
The Reserve Bank of Australia warned yesterday that the current calm in financial markets could be the prelude to a storm that could wreak havoc in the world economy.

The RBA believes the boom in markets for shares, bonds and housing in many countries is unsustainable.

A likely repeat of 1987?

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The RBA Governor has flatly refused to make any comment whatsoever on interest rates ahead of the next RBA Board meeting (where they decide on what the interest rate is to be).

Whilst they don't normally give too much away in advance, this flat refusal to comment is very unusual. Normally he will at least say something about what the issues are that the RBA is concerned about even though it doesn't answer the actual question about what they will do with rates. Something unusual is going on it would seem.

Another thing I noticed today is that a local builder is starting to advertise quite heavily and is advertising their building price per square. Haven't seen that done for years and the price they are advertising seems to be well down (25-30%) on what I understood builders were charging a year ago.

I also read yesterday about some timber mill cutting jobs because there has been a downturn in demand for building materials and competition from imports. http://www.abc.net.au/news/newsitems/200509/s1471043.htm

Also, the local "real estate guide" has suddenly shot up to 72 pages this week, from 56 pages last week, so there are a lot more houses for sale it would seem. That hasn't stopped someone starting a new real estate agent though!

I've also done an analysis of the local market which can be found on another forum http://www.aussiestockforums.com/forums/sh...77&page=8&pp=20

This is a stock market forum, not a real estate one, where someone just happened to start a real estate thread so don't join it looking for an Oz house price discussion since that's not its focus. Interesting thread though given that even the bulls don't expect prices to rise (but they maintain there's always a way to make money even in a down market which is probably true).

:)

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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