This is a recording of a recent interview I gave on ABC New Radio, where I discussed the latest IMF report which highlights the risks to the Australian Property market. Australia has one of the most “misaligned” housing and rental markets in the developed world, leading to high priced land and houses.
Property prices in Australia may be as much as 50 per cent above what an average household can afford as interest rates rise, a global analysis has revealed while warning the market is at risk of a major crash as interest rates are pushed up to bring inflation under control.
We hold the prize for unaffordable housing, and rents, and the IMF believe we are due a correction. Is this likely? Will the Government save us?
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Digital Finance Analytics (DFA) Blog
Talking About An Australian Property Price Crash On The Radio! [Podcast]
This is an edited version of our latest Property Rant, and live Boxing Day show in replay, discussing the latest from the property market and looking ahead to 2023.
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Go to the Walk The World Universe at https://walktheworld.com.au/
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Its Edwin's Live Property Rant Of The Year (HD Replay) [Podcast]
We are now in the end game of a massive experiment, which is clearly failing. That experiment, cooked up by central banks, and with support from Government meant that interest rates and mortgage rates dropped, lending criteria loosened, and home prices shot up dramatically. The final phase of the up was through COVID when quantitative easing again drove debt higher, whilst luring households into a false sense of security – remember not rate rises til 2024?
But now, it’s all coming unglued as rates are rising, and the debt burden is becoming overbearing. Take Canada for example – based on a recent EBC report. They say that sky-rocketing home prices earlier in the pandemic raised the bar by several notches for Canadian buyers. But the spike in interest rates since March served a crushing blow in parts of the country.
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Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
Digital Finance Analytics (DFA) Blog
Only Property Price Corrections Can Help Affordability! [Podcast]
This is an edited version of a live discussion with Cameron who recently republished his book from 2017 Game of Mates: How favours bleed the nation as Rigged “How Networks Of Powerful Mates Rip Off Everyday Australians”.
This book will open your eyes to how Australia really works. It’s not good news, but you need to know it.’ – Ross Gittins
‘You’ll be shocked at how far the Mates have their hand in your pocket.’ – Nicholas Gruen
Australia has become one of the most unequal societies in the Western world, when just a generation ago it was one of the most equal. This is the story of how networks of Mates have come to dominate business and government, robbing ordinary Australians.
Every hour you work, thirty minutes of it goes to line the Mates’ pockets rather than your own. Mates in big corporations, industry groups, government departments, the halls of parliament and the media skew the system to suit each other. Corporations dodge taxes, so you pay more. You pay more for your house and higher interest rates on your mortgage, more for your medicines and transport, and more for your children’s education and insurance, because the Mates take a cut.
Rigged uncovers the pattern of political favours, grey gifts and information-sharing that has been allowed to build up over two decades. Drawing on extensive economic research, it exposes the Game of Mates as nothing less than cronyism on a grand scale across Australia and how we have fallen behind other countries in combating it.
We also discuss housing policy and economics in general.
Dr Cameron K. Murray is a Research Fellow in the Henry Halloran Trust at the University of Sydney and an economist specialising in property and urban development, environmental economics, rent-seeking and corruption. Professor Paul Frijters teaches at the London School of Economics and was previously Professor of Health Economics at the University of Queensland.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Digital Finance Analytics (DFA) Blog
DFA Live Q&A HD Replay: Cameron Murray: Mates, Power, Politics & Economics [Podcast]
Another outing with our property insider Edwin Almeida, as we look at the latest in the rental sector, the latest listing numbers, and the latest from our We-Chat chatters…
Go to the Walk The World Universe at https://walktheworld.com.au/
Digital Finance Analytics (DFA) Blog
Its Edwin's Monday Evening Property Rant! [Podcast]
This is an edited version of a live discussion about the current property market with Veronica Morgan from Good Deeds and The Elephant in the Room Podcast.
