Post a Comment On: Brisbane Apartment

Morning Money publishes a newsletter encouraging people to buy stocks and gold, and is adverse to investment in real estate in Australia. From a recent newsletter (not that I necessarily agree):
"we’d been invited to appear at a housing debate in June. According to the organiser of the event, there will be six people on the panel. On the housing-bubble side will be Professor Steve Keen from the University of Western Sydney, David Collyer from Prosper – the group organising the buyers’ strike – and your editor.On the no-housing-bubble side will be AMP economist Dr. Shane Oliver, Mr. Harley Dale from the Housing Industry Association, and Mr. Christopher Joye from property index firm Rismark.We’ve been told the date to pencil in is 7 June. When more details are available you’ll read about it here.We’re looking forward to the debate for a number of reasons. But most of all we’re looking forward to the property bulls providing some original arguments.It’s boring combatting the same old tired excuses. We’ve bashed down each argument as they’ve made it. Now their only option is to recycle the same old trash and hope they can get away with it.I mean, after spending the past two years denying a house price crash was possible under any circumstances, we’d like to hear them explain the situation in Queensland. After all, they never made any distinction between Queensland and the rest of Australia...If anything, Queensland was compared to Western Australia as a safe place to buy due to the resources boom.But according to the Courier Mail article sent to us by Money Morning reader Bill:“Housing slump falls to 2000 levels as access to finance cuts construction”And don’t even think about blaming the slump on the floods. As many spruikers now admit, the Queensland property market has been dead for two years... not that they admitted it until recently."