ABC News featured this story on Melbourne’s oversupply of homes this week, reporting on expectations the market will only get worse. Residex estimates there is an oversupply of 14,000 homes and expect prices to fall a further five to ten percent over the next year. Residex CEO John Edwards said …
Based on analysis of advanced economies over the past three decades, housing busts preceded by larger run-ups in household debt tend to be more severe and protracted. This is one finding presented in the International Monetary Fund, World Economic Outlook April 2012, titled Growth Resuming, Dangers Remain. Australia is not …
A graph prepared by Steve Keen has featured on the Kohler Report (ABC News) last night showing how Australia’s house price correction is tracking with the Japan and USA housing bubbles. Kohler told viewers around the country, “disturbingly, according to this chart it’s the same decline from peak at the …
Rate cuts by the Reserve Bank of Australia (RBA) in November and December 2011 has done nothing to restore confidence to the housing market with the official Australian Bureau of Statistics (ABS) House Price Indexes released today showing house prices in Australia continue to fall, clocking up five consecutive quarterly …
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