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Australian Economy

Australian houses prices start long trend downwards

According to statistics released from RP Data today, House prices in Australia continue to trend in the downwards direction. In the November quarter, prices fell 0.6 per cent in capital cities, or a seasonally adjusted 0.2 percent. Perth lead the pack with a 3 percent decline for the three months

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United States Economy

U.S. House Prices start to Double Dip

A surprise sharp decline in house prices in the United States has analysts calling the start of the double dip for the already depressed U.S. housing market. The S&P/Case Shiller home price index for a composite of 20 U.S. cites plunged 1.3 percent in the month of October, the biggest

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Australian Economy

Housing starts fall 13.2% in September Quarter

The ABS reported yesterday that housing starts have fallen a seasonally adjusted 13.2 percent in the September 2010 Quarter. In the ACT, falls were as large as 30 percent. It is the biggest fall since the GFC with some economists explaining the plunge due to the weather or high rain

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Australian Economy

Is it time to call the crash?

Today, the Adelaide Sunday Mail printed the following in an article titled “Housing boom over as values fall” : ADELAIDE’S median house price has fallen by $8000 since hitting a record high this year, the latest sales figures show. And the real estate industry says the past decade’s price boom

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China

China’s Real Estate Bubble Soars to new Heights

Chinese Academy of Social Sciences (CASS) has found China’s Real Estate bubble has soared in urban areas despite repeated efforts of the central government to keep it under control. It has found the city of Fuzhou has the most expensive housing predicted to be 70.3 percent overvalued. Hangzhou and Nanning

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Australian Economy

Plunge in Retail Sales

More bad news out today from the ABS. Retail sales fell a seasonally-adjusted 1.1 percent in October, surprising economists who expected a 0.4 percent increase. Discretionary spending was hit the most as households funnelled more money into debt repayments to service skyrocking mortgages. » 8501.0 – Retail Trade, Australia, Oct

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Australian Economy

Bullet still in sight

Australia’s gross domestic product (GDP) has grown at its slowest pace since the GFC as stimulus measures start to wear off. Seasonally adjusted GDP grew at just 0.2 percent in the September quarter surprising the market which expected approximately 0.5% growth. Looking closer at the results, a strong result in