31 thoughts on “Koalageddon: Australia’s housing collapse”

  1. Silverstool

    http://www.news.com.au/money/interest-rates/unions-expected-to-start-a-campaign-against-the-reserve-bank-on-interest-rates/story-e6frfmn0-1226323625787

    This is why Gold and Silver are such perfect investments for Aussies. Your strong dollar buys you a shed load of metal but it ain’t gonna last. Once the unions scream about high interest rates a bit more, once jobs continue to be lost, once homeowners get squeezed some more, the RBA will be forced to reduce interest rates. Your currency will weaken. Australia joins the rest of the planet with ZIRP. The currency wars!

    Sell your house. Buy Silver. Before it’s too late.

    Don’t believe me. Check this out;

    http://www.bullionbaron.com/2012/02/aussie-houses-priced-in-silver-and-gold.html

  7. Mini US

    Right on Siverstool.
    Thanks.

    Also, look at what gold did in 2008 in AUD as well.
    Either way, its a good buy.

  8. Clawhammer

    You don’t understand, the housing bubble may have bust in every part of the world but It’s different here… we have kangaroos!

  11. Al Kyder

    @ MiniUS

    The smh is having a field day with this, I wonder why Murdochs rats are so quite?

    Just this
    - NEW South Wales Opposition Leader John Robertson has called for a debate on negative gearing to help address cost of living pressures in Sydney.
    -Leighton Properties on the rise
    -We need lower rates to lift spending
    -Build it and they’ll come: Yates

    Hmmm It all looks like the Murdoch press are dragging the chain on this one.

  13. Partimelover

    Woo I live in Western Sydney I new those stupid Mcmansions in Castle Hill and Baulkaum Hills wouldn’t last. How did people ever expect to pay for those !!!!

  15. Danny Cunnington

    @Lord Wellington, The gist of Harry’s link is that the “second room” which means elected government totally fucked up by bailing out two banks. Fortis and ING which was the bank that took over Barings after Nick Leeson bankrupted it earlier. They essentially wasted 30 billion euros of public money in an operation doomed to failure.

    Fortis bank operated in both Belgium and Holland with the drowning Belgium part dragging the Nederland part down so they split them up. Few things piss Nederlanders off more than incompetent public servants wasting their hard earned.

    On topic: Australia was able to re-inflate a housing crash due to it’s strong export demand for various raw materials it supplied to Asia. This is now slowing down. Then Oz will join the race to the bottom. Buy PMs to preserve wealth in a currency slide. They blew a bubble to hide what happened and now it’s starting to burst. Australia is a dead duck. It brought in carbon taxes when Asia which is it’s market, didn’t. Read: no longer able to compete. They need to deport their Fabian socialist PM back to the island of Lesbos where she belongs.

    Disclosure: Investments: Physical silver mostly in coins, Growing plots for veggies, Large cache of non perishables foodstuffs and hygiene products.

  17. kdt

    so where is the interview with the man , max?? he’s been a busy boy get his ass back on here to update us plz!

  18. Lord Wellington

    @ Danny Cunnington,

    Thanks for that.

    Always thought the Fortis bailout was unwise.

    Just like Anglo & INBS in Ireland.

  21. Skiddypants

    Only about 4 years late……
    19 out of 20 , say ” now is the time to buy”.
    These people have no idea of the pain coming.

    Cheers

  23. Mini US

    @Partimelover

    Re:McMansions

    Yes, not to mention the energy costs of heating and cooling these monoliths ;)

  24. Mini US

    @Al Kyder

    I think Murdoch Press is putting all of its energies into ridding the country of the mine taxing government, oh and tapping phones and hacking computers of course ;)

  27. bleep

    Steve Keen was spot on… just the timing with these things is hard to land, eh.

    Zero growth in China = Australia craters = NZ falls off the map.

  29. Harry

    @ Lord Wellington: Ryde is an area (suburb) of Sydney where some people I know live. I’ve been there so I am curious about the delinquency situation.

  30. Michel78

    40% of the Dutch can be considered poor these days. The powder is dry and ready and the summer will be hot.

  31. Veritas

    It always gets me that Australians feel the need to ape the US and its systems… seems to me its not working out so well for the yanks. Elizabeth Farrelly has a pretty good take on our stupid fascination with the Fascist States of America here: http://www.smh.com.au/opinion/politics/truth-of-assange-is-stranger-than-fiction-20120411-1ws4o.html
    Funny thing is there is one thing that the seppos are doing that could be useful in Aus… Quantatative Easing… that’s right, print money and distribute it to families like KRudd did in the wake of the GFC. Right now the banks are screaming for lower rates but the RBA is standing firm as it knows the banks will simply swallow a cut and the nett effect on the economy will be zilch… not much point to it as the RBA well knows.
    However, QE would increase the money supply without letting the banks take the lions share of the cash, drive down the AUD as business and the unions are screaming for and stimulate the non-mining economy.
    If they did it through the social security system it’d be a win-win for business, workers, welfare recipients and the Government.
    But alas, this may make too much sense to get a decent hearing in the 51st state.

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