Following the release of housing affordability figures yesterday, the Housing Industry Association spokesperson Chris Lamont commented, “If you were to see interest rates increase by one or two per cent you’d see pandemonium across the market.” This is quite ironic, as earlier in the year the HIA was endorsing a …
In the first year on year decline since 1991, the S&P/Case-Shiller index shows House prices in the U.S. has fallen by 1.4%. The S&P/Case-Shiller index is considered to be a better gauge of the housing market movements as it tracks sales on the same properties. Medium house price data can …
Following a 1.3% rise in house prices, the HIA/Commonwealth Bank housing affordability index has fallen 0.6% in March to the lowest levels ever recorded by the index, first introduced 23 years ago. “The housing affordability crisis shows all the signs of structural supply constraints; it is not part of some …
Today’s Sunday Mail in Adelaide has an article titled What Rental Crisis, Some properties on the market up to five weeks. ADELAIDE’s rental crisis is over, according to real estate agents. Rental properties which earlier this year were being snapped up before being advertised are now are more than a …
Mixed results in the U.S. housing market for April. On Friday night, figures released for April showed sales for existing homes fell 2.6% to a seasonally adjusted annualised rate of 5.99 million. This was worse than the expected 6.11 million most economists were predicting and is the slowest turnover in …
In the OECD’s Economic Outlook, Issue No 81, the OECD has revealed house prices in the UK are 65% too high. The report compares the price of the average house with annual rental incomes which are now 65% greater than the historic average since 1970. Another measure is the house …
YouTube has am interesting Channel 10 news story on the foreclosure crisis surrounding California, and the United States in general. The report suggested the California suburb of Sacramento has been one of the hardest hit. In the first three months of 2007, 2% of homeowners in Sacramento defaulted on their …
Just last week, Federal Treasurer Peter Costello told Australian’s not to worry about the subprime issues in the U.S. as the rate of defaults here in Australia is much less than in the U.S. Yesterday, GE lodged accounts with ASIC showing Loan impairment losses for GE Capital Finance Australasia jumped …
Immediately when Australian’s think about the drought, they think about the farmers doing it tough or possibly the local lawn mowing business hitting the wall. But a far bigger problem is emerging. The lack of water is causing havoc with our power generators who uses this precious commodity for cooling …
Last night unexpected results were released for the Reuters/University of Michigan’s preliminary index of consumer sentiment. While the consensus among economists was a likely fall to 86.0, the index actually rose for the first time in four months to 88.7, up from 87.1 in the previous month. » U.S. Economy: …
Some say Copper has a PhD in economics. Because Copper is used in everything from electrical wiring to water pipes, it is seen as a good measure of the economy. If demand for Copper falls, then it’s believed the economy is slowing. On Tuesday, Treasurer Peter Costello had spruiked the …
More poor housing data out overnight from the US, showing building permits fell 8.9% to a 10 year low of 1.429 million. This fall was the largest percentage fall in 17 years. Meanwhile housing completions fell 5.8% to a 6 year low of 1.523 million. Housing completions across the USA …
Crack out the Champaign, consumer confidence is at 32 year highs. Don’t worry, I can afford Champaign – I’ve just put it on my 2nd credit card – but, I’m confident I can pay it off maybe next year. The Westpac/Melbourne Institute index of consumer sentiment rose to 123.9, up …
Overnight in the U.S. the National Association of Home Builders/Wells Fargo housing market index has fallen to 16 year lows. “This weakness suggests we should not expect a sustained rebound in starts anytime soon,” wrote Drew Matus, an economist with Lehman Bros. Data from the Federal Reserve would suggest at …
On Macquarie Regional Radio today, Costello was playing down the effects on the subprime mortgage crisis in Australia. Costello said he would continue to closely monitor developments in the US, but the Australian situation was “different.” Data from the Reserve Bank of Australia and the US Federal Reserve would indicate …
This video is an insight into the mistakes 24 year old Casey Serin made in the property market. Now Casey Serin tells his tale in the hope of warning other property investors the pitfalls of property speculation. Casey started out trying to make a quick profit in ‘flipping’ properties, that …
More evidence today that the US consumer is curbing spending. Poor retail data out last night caused a sharp fall in the Dow Jones : The International Council of Shopping Centers weighs its results differently and tallied an overall same-store sales drop of 2.3% to set the largest decline on …
Last night US employment data was released for April showing a weaker than expected 88,000 jobs added, one of the worst results for two years. Drilling into the report, it showed Significant job losses in April came in general merchandise stores, where employment dropped by 41,000, and credit intermediation, where …
The ABC reports that the median price for houses at the Gold Coast has fallen 3 percent in the first quarter this year. » Report reveals lower Gold Coast house prices – ABC, 30th April 2007.
Copyright 2006 - 2022