The Australian housing bubble is causing investment in over-priced property to the detriment of dynamic business. This may be “productive” for real estate agents or mortgage brokers, but not for the Australian economy.
Housing prices
Housing finance hits nine-year low for owner-occupiers
House prices are rising, auction clearances are high and yet the number of owner-occupied housing commitments has hit a nine-year low.
The not-so-good news: housing costs continue to rise
The first of the crude “median” house price data has started coming through and it is sprightly to say the least, according to Christopher Joye. But it’s not necessarily great news for policy makers.
Our deep, bitter anger over housing prices
House prices is an election changing issue and not because homeowners are crowing about profits. Houses are too expensive, interest rates are rising and voters are getting resentful, writes Charles Purcell.
Houses are just very, very expensive consumer items
We like to claim that property is a productive item, that it fuels our economy and provides our safe nest egg of wealth. But there’s nothing productive for the economy in buying and selling houses, writes Kris Sayce.
Foreigners and housing: a sense of scale
Foreign investors are actually only a very small slice of Australia’s housing market. So why are we blaming the Chinese for our own housing supply problems?
Colebatch: Stop cheering the rising house prices
Homeowners might be counting their riches as house prices rise, but it’s screwing young Australians financially. Those who are down-grading win but the rest of society suffers, writes Tim Colebatch.
Warning: RBA to crunch housing boom to save economy from overheating
The current housing boom risks ending in tears with the Reserve Bank forced to crunch it to save the rest of the economy from overheating.
Reflections of Cage Match, Mk II
Steve Keen looks at the second round of his cage match with Christopher Joye.
Property value never falls? Don’t put the house on it
Australians’ household debt levels are world leading. We pay about five-six times our household disposable incomes for our average dream home. This won’t end well.
No stamp duty on capital gains equals incompetence
Gavin R. Putland responds to Adam Schwab’s property taxes piece in yesterday’s Crikey. While the states are addicted to the property boom, the more important issue is property turnover.
Australia’s housing bubble: it’s already here
The evidence is in: Australia is right in the middle of an emerging housing bubble. A rate rise of 0.50% can be justified tomorrow from the RBA on house price figures alone, with Melbourne prices soaring nearly 20%.
Bubble, or no bubble: that is the question
Residential property in Australia is obscenely overpriced. Whether or not this is the result of a price bubble, or the influence of first home buyers and wealthy investors, is yet to be seen.
Rentals do have a say in residential property prices
The rental market is critical to residential property prices — many who claim that property prices never fall should look closely at the rental sector before believing real estate propaganda over facts.
Housing shortage: two parts myth, zero parts reality
In some parts of Australia and contrary to what property “experts” might suggest, we have an almighty bubble. But it’s not increased immigration that’s fuelling the dire housing shortage. So what is?
Gottliebsen: The Australian dream is over
Yesterday’s rate rise, coupled with recent changed to Australia’s superannuation policy, locks us into a nation-changing situation: we will soon be a nation of renters, says Robert Gottliebsen.
Aussies, it seems, under Mr Market’s intoxicating spell
The ABS, Australian Property Monitors and RP Data are all indicating that Australian residential property prices are nearing or exceeding record levels, spurred by continued use of debt by many buyers to fund the great Australian dream.
The real estate spinners who are artificially inflating prices
Despite its ubiquity, residential property remains one of the least transparent asset classes in Australia. Most buyers spend hundreds of thousands of dollars on an asset which they know very little about.
How to stop houses being so damn expensive
Australia needs a solution to its rising house prices, which have jumped dramatically thanks to the laws of supply and demand, writes Tom Elliot. Is reducing immigration the answer?
Triguboff, Keane talking fiction on house prices
Billionaire Harry Triguboff’s pleas for the RBA not to raise interest rates today are informed by a massive conflict of interest: the longer Australia’s housing bubble continues, the more Triguboff can sell his apartments for.
graph pr0n It’s about the housing shortage, stupid
Our biggest public policy problem is that we don’t have enough dwellings for people who live here, with an estimated shortage in 2008 of 34,000 dwellings. Plus, we’re importing people at a rate of knots.
When herds collide on the yellow brick road
2010 is shaping as the year that the bulls and bears of the world’s last unpopped asset market bubble — Australia’s property market — will collide head on, writes Steve Keen.
Interest rates: the local waitress put in her two bob’s worth
The house price gravy train has arrived again at the station, and off we go towards higher interest rates and a greater lack of social equity.
Aussie mateship: buying homes together
Okay, so obviously the First Home Owners Grant just pushes up the price of real estate, but if you are still interested in cashing in on it, consider buying a home with a friend. Just pay attention to the legal nitty gritty.
