Auction Results 17 Oct 2020

Domain released their preliminary results for today. They note that “from Thursday July 9 the Victorian government placed a ban on public real estate auctions as part of social distancing measures to slow the spread of COVID-19. The number of auctions withdrawn in the immediate weeks following the ban are likely to be higher than normal”.

Canberra listed 66 auctions, reported 58 with 47 sold, 2 withdrawn and 2 passed in to give a Domain clearance of 81%.

Brisbane listed 67 auctions, reported 35 with 18 sold, 2 withdrawn and 15 passed in to give a Domain clearance of 51%.

Adelaide listed 39 auctions, reported 28 with 22 sold, 1 withdrawn and 5 passed in to give a Domain clearance of 79%.

The Budget Was “Fire, Ready, Aim”!

Finally some of the commentators are seeing though the Government spin to the underlying ideology, and are highlighting the weaknesses and risks in the massive proposed spending. And it’s not so much the quantum, as the direction of fire…

A quick rant on the Australian budget

https://www.smh.com.au/business/the-economy/no-bang-for-buck-budget-is-big-on-political-correctness-weak-on-job-creation-20201015-p565kc.html

It’s Close To The Edge – With Harry Dent

I caught up with Harry Dent, economist and author, to check in on the markets and his view of a crash coming soon. He explores the latest data indicating a significant reset is due, and discusses the preparations to be made ahead of this event, when it occurs.

He also highlights his upcoming online seminar on the 16th October 2020 where he will explore this further, ahead of the launch of his Dent Sector Fund.

https://gokogroup.com/dent-sector-fund-launch-2/

“All my research shows that the greatest boom and bubble in the history of the world cannot last. The current pandemic I believe is a key trigger to the correction, one of a magnitude the global economy does not often see. Governments printing trillions of dollars and giving it away is an unsustainable recipe for disaster, keeping Zombie businesses alive past their time, supporting consumption patterns that cannot last. It is the future we must look to. I hope you might join me in the journey!”

Note: DFA has no commercial relationship with Harry Dent, or the fund promoters.

FINAL Reminder: DFA Live Q&A – Is Digital The Answer To Money Printing? [20:00 Sydney]

Join us for a live Q&A tonight as I discuss the critical question of whether digital currencies like Bitcoin offer protection in a world of fiat currency money printing with Alex Saunders from Nuggets News https://nuggetsnews.com.au/.

Auction Results 10th October 2020

Domain published their preliminary results for today. Note that from Thursday July 9 the Victorian government placed a ban on public real estate auctions as part of social distancing measures to slow the spread of COVID-19. The number of auctions withdrawn in the immediate weeks following the ban are likely to be higher than normal.

Canberra listed 66 auctions, reported 58 with 47 sold, 2 withdrawn and 9 passed in to give a Domain clearance of 81%.

Brisbane listed 67 auctions, reported 35 and sold 18 with 2 withdrawn and 15 passed in to give a Domain clearance of 51%.

Adelaide listed 39 auctions, reported 28 with 22 sold, 1 withdrawn and 5 passed in to give a Domain clearance of 79%.