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Australian Economy

First Home Buyers Strike – Is there a choice?

Just over two weeks ago a campaign was started urging first home buyers to boycott buying a house in what is considered the most expensive property market in the world. In the last 48 hours, the campaign has achieved phenomenal momentum in both mainstream media and online. The campaign was

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Australian Economy

Mortgage arrears unexpectedly surge

According to mortgage rating agency Fitch, the number of mortgage payments that were 90 days in arrears grew unexpectedly by 12.5 percent in the last quarter of 2010. The data shows more people are defaulting on their mortgages and it is only expected to get worse. Tammy May, founder of

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Australian Economy

Sydney Agents cooking Auction Clearance Rates

The Sunday Telegraph is today reporting “EMBARRASSED agents are covering up a growing failure to sell homes at auction by not telling reporting bodies about their failed campaigns” with as much as 50 percent of Sydney auction results going unreported as the housing market starts to turn south. Louis Christopher,