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recession we had to have

Aus housing bubble

2 posts in this topic

People are prudently paying down debt. They seem to be tapped out. Actually, I don't believe the majority are completely tapped out. More that gloom has descended. I think people have noticed that the rest of the world has gone quiet. This parties over. Being Australian we are always the ones who get drunkest and are usually the last to leave.

6 clear months of falling house prices and I suppose something must sink in. We waited to see if it was a seasonal variation. It wasn't. Negative equity. Epic fail socially. No one wants to look like a chump.

I guess we can expect to see more predictions of "perfect storms" and imminent calamity from the spruikers. Yelping away like a bizarre pavlovs dog. With Bill Evans as the bell ringer.

I'm not sure what annoys me more, a bullish spruiker or a bearish spruiker.

Hear this spruikers we still have:

  1. low unemployment in spite of a retail "slump" and a "two speed" economy.
  2. Only slightly rising (but still low) mortgage delinquency rates
  3. House prices have only subsided :bangin: by 1.7%.
  4. A shortage of supply - thanks Harley

No way it's crashing! Right spruikers? :)

Edited by staringclown

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