When The Property Market Bough Breaks!

Property prices are political not economic. So, while analysts are talking about property price corrections in 2023, and higher levels of defaults; and the IMF talks of a dysfunctional market; the truth is most politicians prefer to sit on the fence and mouth platitudes, to avoid upsetting voters.

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  1. They wont be able to protect the housing market from the looming global downturn. Sure they will try but the forces will be overwhelming.

    Recently thinly traded price increases wont hold. How can they when the majority of Australians can't trade at the prices? There are also psychological changes yet to penetrate the market – sellers waiting patiently on the sidelines will start to sweat soon in the knowledge their assets will be worth less in 12 months than they are now – and between that and forced sellers we will see mid year pinchpoint with no rebound for years to come.

  2. 'It's a big club and you aint in it' – George Carlin. In Australia's case for those whom don't own property…..'It's a big housing club and you won't be in it" – Zeberdee. 😆

  3. Foreign investors hardly mentioned – they are coming back and probably what the government is wanting since it is also property taxes to come that will have some impact on investment housing affordability…

  4. As you know Martin it all boils down to the question; what is "money" and who creates it? Is there a value in it at all if belief in it fails? Prpoperty prices are listed in currency. But what if that currency lost it´s purchasingpower?

  5. Here we go…an external entity applying pressure albeit verbal observation…but it’s the lead up to harsher realities from now on which everyone will refer to

    We told you earlier…hehe finally, she’ll be right mate won’t be uttered too often in the immediate future I think

    Just be productive …that’s all, it’s really simple. And being productive and competitive in a global market DOES NOT INVOLVE building s..t dwellings locally …especially by the thugs who participate in unions like CFMEU and run riot through the streets of Melbourne due to fears of a needle

    Our countries economic prosperity for the last 30 years were in the hand of tradies…gouging the govts on infrastructure plans for desal plants, and then in the building of shoddy homes all funded by the “pillars” borrowing on short term money markets

    What a joke…what a joke

    Where as all the intellectuals spend all their time learning how to operate technology imported into our country, when we should be focusing on getting those people MAKING technology

  6. Well the banks will be fine since we are giving them 6billion dollars a year which we gave to them at 0.1% and now we pay them 3.5%. That’s about $264 dollars for every man woman and child in Australia. Yet they are still claiming that the country branches they are closing are not “financially viable”. But we are giving them 6billion a year. Who is in charge of our finances – you have to wonder, its not our Reserve Bank or are they bailing them out during this time due to possible defaults.

  7. Great insights, Martin. Especially for the political vs. economic reasons for our continued overpriced property market.
    It's a Ponzi scheme pushing the economy along, where those that want a house will work and scheme tooth and nail to get one. Even if it is unaffordable. But it's not a healthy free market economy. Australia has long lost it's egalitarian quality instead fast becoming a dog-eat-dog society of haves motivated by fear and greed, and have-nots. With the have-nots being dished out some scraps to keep them at home smoking their pipes for comfort.

  8. I love your determination to preach this doom and gloom, have been at it now for years and it still hasnt happened, largest rate rises in 40 years it hasnt happened. Mortgages and interest rates are not the sole driver, housing is more unaffordable now than 7 mths ago. If you believe or hope that house prices will drop 30% when building costs are going up, inflation, well balanced supply to demand and low unemployment, well you may need to keep dreaming with Martin

  9. Policy prescriptions are the root cause of housing issues. We need less "policies" and more freedoms in the market while protecting against monopolies and land banking. Also less protections for banks and installing ceos who run banks like a business instead of being willing to participate in social experiments.

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