In 2005, America had a shortage of homes. Today, its banks are using bulldozers to get rid of the oversupply. Bloomberg reports that the Bank of America has a glut of foreclosed homes that it can not sell. In June 1,679,125 were in some stage of foreclosure. Flooding the market …
The latest update to the RP Data-Rismark Hedonic Home Value Index, released today, show Australian house prices have now been falling for six consecutive months. House prices in June fell 0.2 percent seasonally adjusted. Capital City home prices have now fallen 2.0 percent for the year to June. On Tuesday, …
Australian Property Speculators can no longer keep their heads in the sand with Today Tonight featuring a story on the impending Australia Property Crash reporting experts views that some suburbs are at risk of colaspsing. It reports that America’s Sub Prime crisis trashed house values. What happened there is happening …
Here is the trailer for the documentary Real Estate 4 Ransom, why does land cost the earth? : Real Estate 4 Ransom Official Trailer from Real Estate 4 Ransom on Vimeo.
Retail therapy impossible in this housing market – The Sydney Morning Herald, 19th July 2011.
Westpac Chief Economist Bill Evans came out on Friday predicting that interest rates could fall 100 basis points over the next 12 months while unemployment could jump as high as 5.75 percent (up from 4.9 percent today) as a range of leading employment indicators were turning south. In an article …
A Housing Industry of Australia (HIA) / RP Data residential land report has today shown land sales have fallen to their lowest level since accurate figures were first recorded. In just the past year, Land sales around the country has fallen 43 percent to the end of the March quarter. …
Last month we wrote about signs that China’s construction bubble could be on the verge of bursting. There were concerns of large and mounting debts held by LGFV (Local Government Finance Vehicles) for empty office towers, residential real estate and other non performing infrastructure investments. Two days after we wrote …
There were more surprises for economists today with Retail sales falling 0.6 percent seasonally adjusted for May 2011. Economists had expected a rise of 0.3 percent. The ABS also released Housing approvals for the month of May showing falls of 7.9 percent in contrast to economist predictions of a minor …
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