Australia’s All Ordinaries Index plunged by 212 points to 5773 at the 10.15am open today, wiping about $45 billion from the value of the Australian stockmarket It would appear investors were too busy watching the Dow fall last night to see data released for January showing new house starts plunged …
The Adelaide Sunday Mail has some top quality journalism today. There is a full two page spread showing, by suburb, what your Adelaide house will be worth in 2016. Titled “Future Shock : Welcome to our millionaire city“, they tell us that Adelaide will have 83 million-dollar suburbs by 2016. …
It is interesting watching the US housing market unfold. Late last year we saw some of the fastest plunges in the sales of new homes ever recorded, only for the new house market to close the year with sales down 17.3%. On Friday night, it was reported new house sales …
NEW YORK, Dec 31 (Reuters) – Defaults on privately insured U.S. mortgages rose 34.7 percent in November to the highest level on record, reflecting the inability of a growing number of homeowners to keep current on their loan payments. » Defaults on U.S. insured mortgages at record high – Reuters, …
Nothing like doing a bit of planning. The Financial Services Authority in the UK is suggesting some financial institutions are complacent and not adequately modeling risks. It suggests an “appropriate” benchmark was to assume property prices fell by 40 per cent and that 35 per cent of mortgages in default …
Overnight we saw the data released showing prices of new homes in the US fall 9.7% yoy to September. This is believed to be the fastest falls for 36 years. New home sales are now down 14.2% for the year with inventories up 14.4% over the same period. » New-home …
The weekend has highlighted some potential bargains in Sydney. In Cabramatta, a 1 bedroom unit sold for an entire $95,000. At the peak of Sydney’s property boom in 2003, it had changed hands for $262,000. That’s a fall of 64% for the mortgagee repossession. Over in Annandale another mortgagee repossession …
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