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
p
