First the U.S., then the U.K.; Now the International spot light is on Australia : Gabriel Stein, from Lombard Street Research, said Australia could prove vulnerable once the global commodity cycle turns down. It has racked up a current account deficit of 6.2pc of GDP despite enjoying a coal, wheat, …
The risk of a Great Depression-style global debt-deflation cycle is one in three, according to an investment bank economist. “I think that for many Anglo economies the risk of a pronounced deleveraging-deflation cycle is higher now than it has been since the Great Depression,” Mr Minack said in a note …
DOMESTIC commercial property rather than the US sub-prime crisis is emerging as the greatest threat to bank profits. Clime Asset Management managing director Roger Montgomery predicted tougher times ahead for the banks on a number of fronts. “What I think needs to be understood is that the consumers have only …
THE high cost of housing is being blamed for more than half of Generation Y still living at home with their parents, as shown in a new survey. The proportion of 17-to-32-year-olds living at home hit 50.2 per cent in 2006, the Housing Industry Association survey shows. » Housing costs …
Eariler in May we reported US house prices were falling at the fastest rate since records began. Now it’s the UK’s turn : House prices are falling at a rate not witnessed since records began in the 1950s, according to the latest report from banking giant Halifax. Its figures show …
PLUMMETING property values have prompted warnings Australia is heading for a one-in-a-100-year real estate slump. New figures from property analyst Residex showed house and unit prices in nearly every city and country centre fell last month. The last time all states fell at the same time was just before the …
A new report shows Australian house prices fell in every capital city last month. It’s the first time it’s happened since the Great Depression, and housing experts say we’d better get used to further falls in the market. » Aus house price fall – Sky News, 12th July 2008.
What a difference a couple of weeks can make. On the 17th June, The Perth Sunday Times ran an article titled “Relief ‘within decade” predicting falls of 10 to 15% over a year or two. The artcle quoted REIWA president Rob Druitt saying “though Mr Ruthven’s logic was correct, he …
AUSTRALIA lost almost 90,000 full-time jobs in the June quarter – a worrying sign for families struggling to pay bills, according to pollster Gary Morgan. » Full-time jobs shrink by 90,000 – The Australian, 8th July 2008.
AUSTRALIA’S residential property prices are among the highest in the world. But most of us still think that prices can’t fall. It’s time to put that fallacy to the knife, according to Intelligent Investor research director Greg Hoffman. “The US property market meltdown should dispel this myth immediately,” Hoffman says. …
STRESSED home owners and investors are flooding the market with thousands of houses but agents say they can’t find any serious buyers for some properties. As home mortgage lending in Queensland dives for the second consecutive quarter, the number of houses for sale is up 150 per cent compared with …
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