Australian House Prices down 10% from Peak
By Steve Keen, DebtWatch There are several providers of statistics on Australian house prices, but only one that doesn’t have a vested interest in the direction house prices actually move in: the Australian Bureau of Statistics. So despite the criticisms of this series-that it’s based on detached dwellings only, based on median sales data, too…
Aussie property slowdown has just begun
These days it’s cheaper to buy a home in the playground of New York’s rich and famous, The Hamptons, than it is to buy in most Australian capital cities. Home prices in New York’s beachside retreat fell 13% last year, and are expected to tank again this year. Today, the median sale price in The…
The Tangled Web of the Australian Housing Bubble
Oh what a tangled web we weave,When first we practice to deceive. Scottish poet Sir Walter Scott penned those lines in the nineteenth century, but the essence of his words applies to much of what happened in the Great Financial Crisis, as well as to things yet unseen. Perhaps you think the word “deceive” is…
Will the property bubble burst or simply deflate?
As Aussie housing prices have risen dramatically in recent years and LVRs have skyrocketed, leading economists and investment advisers have weighed in on the issue of whether Australia is experiencing a “housing bubble” and, if so, whether it will eventually “pop” or quietly deflate. Today we summarise several perspectives: 1. Jeremy Grantham, Chairman, GMO Australians…
