Australian Housing
Home sales slump in June
» Home sales slump in June – The Australian, 30th July 2007.
Australian Economy
Australia’s real crunch in housing yet to come
WHO’D have guessed it? Housing is the reason global stockmarkets are suddenly looking sickly, housing is the curse of the credit system, and it just might be the key to this year’s federal election. » Australia’s real crunch in housing yet to come – The Age, 29th July 2009
Australian Housing
Middle earners ‘squeezed’ as house prices jump
» Middle earners ‘squeezed’ as house prices jump – ABC News, 28th July 2007.
Australian Economy
Subprime crisis may trigger global meltdown
Subprime housing worries caused the ASX all ords to fall 2.85% yesterday or 174.5 points to 6127. » Sub-prime crisis may trigger global meltdown – The Australian, July 28th 2007 » US mortgage debris has not fully hit Australia – The Australian, July 28th 2007 » Subprime could create global …
United States Economy
New-home sales drop 6.6% to 834,000 in June
Last night it was reported new home sales in the USA fell 6.6% to 834,000, the lowest record since 2002. Compared year on year to June 2006, sales are down 22.3%. The sales price of new homes is down 2.2% year on year compared with June 2006. Meanwhile Inventories of …
Australian Economy
US subprime mortgage crisis hits Aust funds
» US subprime mortgage crisis hits Aust funds – The ABC, Jul 26th 2007.
United States Economy
Trouble at home
Sales of existing US homes are down 3.8% in June, the lowest rate in five years. Annually, sales of single family homes have fallen 30%, the sharpest decline in 28 years. » Existing-home sales fall to 5-year low – Market Watch, July 2007.
Australian Housing
HIA calls for rental assistance fund
The HIA has called on the Federal and State governments to set up a rental assistance fund. It predicts the number of Australians under rental stress will soar in the next three years to 750,000. Rental stress is defined as handing over more than 30 percent of their income to …
Australian Economy
Subprime Turmoil hits Australia
SAN FRANCISCO (MarketWatch) — Basis Capital, a firm with more than $2 billion in assets that was named Australian hedge fund of the year in 2006, has become the latest to be hit by turmoil in the subprime mortgage market. » Basis fund misses margin calls, research firm says; Well-regarded …
United States Economy
Housing market hasn’t bottomed yet
» Housing market hasn’t bottomed yet – Market Watch, 17th June 2007.
United States Economy
Home builders’ confidence plunges again in July
» Home builders’ confidence plunges again in July – Market Watch, 17th Jul 2007.
Australian Economy
Home borrowers ‘may need 20% deposit’
» Home borrowers ‘may need 20% deposit’ – The Australian, 18th July 2007.
United States Economy
Real Estate: Awaiting The Foreclosure Time Bomb
» Real Estate: Awaiting The Foreclosure Time Bomb – CNBC, 13th July 2007.
Australian Economy
Sydney property priced beyond 75% of families.
The Sunday Telegraph has printed an article today suggesting Sydney property is now priced out of reach of 75% of families. With the medium house price in Sydney now $521,100, they indicate when a 10% deposit has been put down, you need an annual household income of $145,412. From recent …
Australian Economy
Peak Oil, now ‘Peak Debt’
Don’t worry about peak oil, now a new house price surge is predicted which in the words of property analyst, Michael McNamara, will bring “Peak Debt”, when mortgage repayments outstrip disposable income. Australian Property Monitors predicts that in the next decade many in the mortgage belt of “average Australia” will …
Australian Economy
Australian’s hit the $1 trillion debt figure
The ABS released figures on Friday showing Australians in May had $1.001 trillion in debt. This is up from $886 billion in May last year. Prime Minister John Howard is not concerned. He said, “I don’t think there is any particular magic in a particular figure, but when you talk …
Australian Economy
Rising debt keeps Australian dream out of reach
THE DREAM of debt-free home ownership is slipping further from reach for the typical Australian family, as rising mortgages outpace growth in household earnings. Census figures were released today giving a snapshot of 2006 compared to 1996. In 2006, 33% of homes were fully owned. Ten years prior, 41% of …
United States Economy
US Home prices fall at fastest rate in 16 years
The news on the US mortgage crisis just gets worse, with little indication the finish is near. Last night, figures released in the US, show house prices in the Standard & Poor’s Case-Shiller 10 city home price index fell 2.7% yoy. This is the largest decline since 1991. » Home …
Australian Economy
Great Depression II looming
The Bank for International Settlements has noted the risk of a 1930s-style economic slump has been heightened by “euphoric” markets tapping cheap global credit. The bank said the conditions which led up to the Great Depression of the 1930s and the Asian crises in the 1990s were reflected in the …
United States Economy
US Inventory of homes for sale hits 15-year high
Last night it was reported inventories of homes for sale in the US hit a record 4.43 million, a rise of 5% for May. This now represents a 8.9 month supply. This is the biggest number of houses for sale since June 1992, the end of the last housing bust. …