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Today is Australia Day and we’re taking the day off.  In fact, we’re taking a few days off. While we’re away our hot-seat will be filled by a host of other characters.  We’ll be back next week sometime… Thursday if we remember rightly.  Until then… A quick note on Australia’s overpriced housing.  Yesterday we wrote: [...]

Reading The Age reporting on the housing market over the last couple of weeks has been like watching the Comedy Channel. At any point we expect Jon Stewart or Stephen Colbert to fly out of the page to tweak our nose and give us a cheeky wink. First we had, “Land sales plummet, adding to [...]

“You don’t want to take rights away from people… Every now and again you feel those rights are being abused and you say, ‘Do we take rights away or do we just put up with the abuse?’  My response to it varies day to day.” That’s the Australian Financial Review (AFR) quoting Australian Tax Office [...]

Your editor made a big call last week by claiming the Australian housing bubble had already popped. Some thought our claim was reckless. Others thought we were grossly misinformed. But based on everything we’ve seen since (and before), our bet is we’re right on the money. The Australian housing market has started on a death [...]

Well reader, I have to say it, today your editor read the most ridiculous article we’ve ever read on Australia’s now-popped house price bubble. And believe me, that takes some doing.  There’s been a heck of a lot of rubbish written over the years, but the article we read today trumps the lot. What makes [...]

The S&P/ASX 200 dropped 40 points, ending the day at 4,699.80. The housing finance data from ABS showed a 1.3% increase in approvals for September and the Westpac Melbourne Institute Index of Consumer Sentiment fell from 117.0 in October to 110.7 for November. This outcome for the consumer sentiment index was expected after the RBA [...]

“The quality stuff we’ve got is still selling well but the B and C-class properties have been hit harder.” That’s according to John Bongiorno, director of Melbourne real estate agency Marshall White, quoted in today’s Australian Financial Review (AFR). But the following part was the best bit, as written by AFR journo Ben Hurley: “The [...]

“Auction clearances dive on interest rate rises”, reports today’s Australian Financial Review (AFR). It states: “In Melbourne, the clearance rate dropped sharply to 61 per cent, the lowest turnover since mid-December 2008…” Ouch! It certainly isn’t a sellers’ market. And our friends at RP Data agree with us. Money Morning reader Duncan pointed us towards [...]

…Or should that be Last Decade? This morning’s decision by the US Federal Reserve’s Federal Open Market Committee (FOMC) is the final act in American global economic dominance. If the US economy wasn’t already terminally ill, then this morning’s news from the FOMC has pushed it into terminal illness. But before I get onto that, [...]

The S&P/ASX 200 ended the day higher by 21 points to 4,722.60. Yesterday, housing approval data for September showed a 6.6% drop, with the biggest decline coming from Victoria. The Dow Jones Industrial Average closed higher by 26 points to 11,215.13. The Federal Reserve Bank finally confirmed the worst kept secret on Wall Street, which [...]