Not Everyone Should Own a Home!

[patientrenter]

Thanks, Peter. At what stage is the home price cycle in Australia? How about mortgages and banks? Do you think the recourse laws will be enforced when 20% or more of the population would lose money from it?

[peterb]

I dont know the Oz market that well. But, if you read back through Steve Keen’s blog, you can get an idea of where they’re at. It looks like about a year behind the US debacle. But I could be wrong. I’ve heard the NZ market is just starting there in some cities.

[peterb]

I dont know the Oz market that well. But, if you read back through Steve Keen’s blog, you can get an idea of where they’re at. It looks like about a year behind the US debacle. But I could be wrong. I’ve heard the NZ market is just starting there in some cities.

[peterb]

I dont know the Oz market that well. But, if you read back through Steve Keen’s blog, you can get an idea of where they’re at. It looks like about a year behind the US debacle. But I could be wrong. I’ve heard the NZ market is just starting there in some cities.

[peterb]

I dont know the Oz market that well. But, if you read back through Steve Keen’s blog, you can get an idea of where they’re at. It looks like about a year behind the US debacle. But I could be wrong. I’ve heard the NZ market is just starting there in some cities.

[peterb]

I dont know the Oz market that well. But, if you read back through Steve Keen’s blog, you can get an idea of where they’re at. It looks like about a year behind the US debacle. But I could be wrong. I’ve heard the NZ market is just starting there in some cities.

[EconProf]

I was in NZ and Australia all of last January, and their RE markets were as bubbly as ours. But their interest rates on homes, about 6 – 8% were dampening speculation more responsibly than ours. Still, their prices had had a big runup to silly levels, and the conversations with locals often turned to RE price appreciation.
Looking forward, the two countries will likely get clobbered by the fact that they are big natural resource and tourism-based economies, and will fare badly in the current commodities collapse accompanying world-wide recession.

[EconProf]

I was in NZ and Australia all of last January, and their RE markets were as bubbly as ours. But their interest rates on homes, about 6 – 8% were dampening speculation more responsibly than ours. Still, their prices had had a big runup to silly levels, and the conversations with locals often turned to RE price appreciation.
Looking forward, the two countries will likely get clobbered by the fact that they are big natural resource and tourism-based economies, and will fare badly in the current commodities collapse accompanying world-wide recession.

[EconProf]

I was in NZ and Australia all of last January, and their RE markets were as bubbly as ours. But their interest rates on homes, about 6 – 8% were dampening speculation more responsibly than ours. Still, their prices had had a big runup to silly levels, and the conversations with locals often turned to RE price appreciation.
Looking forward, the two countries will likely get clobbered by the fact that they are big natural resource and tourism-based economies, and will fare badly in the current commodities collapse accompanying world-wide recession.

[EconProf]

I was in NZ and Australia all of last January, and their RE markets were as bubbly as ours. But their interest rates on homes, about 6 – 8% were dampening speculation more responsibly than ours. Still, their prices had had a big runup to silly levels, and the conversations with locals often turned to RE price appreciation.
Looking forward, the two countries will likely get clobbered by the fact that they are big natural resource and tourism-based economies, and will fare badly in the current commodities collapse accompanying world-wide recession.

[EconProf]

I was in NZ and Australia all of last January, and their RE markets were as bubbly as ours. But their interest rates on homes, about 6 – 8% were dampening speculation more responsibly than ours. Still, their prices had had a big runup to silly levels, and the conversations with locals often turned to RE price appreciation.
Looking forward, the two countries will likely get clobbered by the fact that they are big natural resource and tourism-based economies, and will fare badly in the current commodities collapse accompanying world-wide recession.

[peterb]

I think NZ could really crash as it was a big target of the carry trade from the JPY. It’s been driven up a lot by speculation. And thus, I believe will come down hard when it’s got to rely souly on tourism and commodities. Wouldnt mind buying some property there in a few years. What a clean place!!!

[peterb]

I think NZ could really crash as it was a big target of the carry trade from the JPY. It’s been driven up a lot by speculation. And thus, I believe will come down hard when it’s got to rely souly on tourism and commodities. Wouldnt mind buying some property there in a few years. What a clean place!!!

[peterb]

I think NZ could really crash as it was a big target of the carry trade from the JPY. It’s been driven up a lot by speculation. And thus, I believe will come down hard when it’s got to rely souly on tourism and commodities. Wouldnt mind buying some property there in a few years. What a clean place!!!

[peterb]

I think NZ could really crash as it was a big target of the carry trade from the JPY. It’s been driven up a lot by speculation. And thus, I believe will come down hard when it’s got to rely souly on tourism and commodities. Wouldnt mind buying some property there in a few years. What a clean place!!!

[Author]

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