Things are different here

For Mish Shedlock (here and here and here  and here and others)


when things turn to shit in Australia
the Government always steps in
the easiest thing and always the first
is to let lots more migrants come in

you'll know when this starts to happen
'cause there'll be claims "we don't have the skills"
then quota's go up and criteria down
and the media mob are all shills

and on top of that repeating pattern
will be First Home Grants tax free and huge
and all sellers will then up their prices
'cause they know that the buyer's a stooge

if you look out your window in Sydney
no "house for sale" signs will you see
'cause people hold on to illusions
and forever that's likely to be

so Mish though i note that you're clever
and live in a land full of woe
i do doubt the future you posit
(and now i must work so i'll go)



see also - in order of publication - ie oldest first:

      Waging  a Property Price War - an interesting counter to Mish's arguments which he takes largely from Steve Keen
      Updated Credit Accelerators - as good an entry point into Steve Keen's work as any

      Keen's House Price Hit Won't Happen - another attack on Steve Keen's projection

      The US vs Australian Bubble - excellent analysis by macrobusiness.com.au - very quickly becoming the premier Australian financial blog

      Melbourne housing supply goes ballistic - another  macrobusiness.com.au post

      Buyers exit market amid housing squeeze - from the ABC

      Houses looking Good - Macrobusiness.com.au

      Move Up Buyer Fenzy! - ditto

      New home sales rise from the floor - again

      R P Data report

      Melbourne bubble bursts

      more bear, more bull and more bear

      SMH chips in with a bear headline

      SMH: New home sales buoyed by rate cut

      ABC: Construction on shaky ground as slump persists

      MB: HIA says house sales up, unit sales down

      MB: Approvals bounce in number, fall in value

      ABC: Home building approvals soar

      MB: Melbourne rental vacancies skyrocket

      Business Spectator: Housing Bubble Denier Trouble, House price slump unlikely: Hirst

      These two on the same day from same data:

            MB: House prices resume falls

            SMH: House prices may have hit bottom

      Steve Keen surfaces after a long break: House Prices outlook for 2012

      SMH: Record slump in house prices in 2011

      MB: (all on same day)

            ABS: House prices continue to fall

            Hope springs eternal in NAB housing survey

            New home sales slump again

            Kochie and Louis

      SMH: A property crash? Don't bet on it

      MB:
            Comparing the big three house price indexes

            Building disapprovals

      MB: REIWA’s desperate plea to boomers

      MB: Housing stock on market falls
   
      MB: Two speed Rents

      MB: Welcome back Kohler

      MB: A housing bull slows up

      MB: Auction clearance rates

      MB: Home sales rout

      MB: RP Data

      MB: Australian vs Canadian Property

      Mish Shedlock spoofing again: Bloodbath coming up and again Recession hits Aus

      Business Speculator: Housing boom returns but...

      MB: First home buyers retreat...

      MB: House prices rise in Feb...

This article gives you an idea of how i see it: from the immigrants side


      "Our brand name is Australia" a poem written at the same time and with reference to Aussie home prices

note also that my poem is just a poem - my opinion is not that of an economist but rather is representing a common meme in Australia - right or wrong


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