Builder Cites Rate Increases In Slump
A predictable debate is rising in Australia, where the central bank is ahead of its US counterpart by several months. "Building approvals slumped 6.8 per cent in March, with approvals for units and other dwellings down 25 per cent. However, private home approvals climbed 0.3 per cent."
"A sharp fall in building approvals is due solely to the Australian Reserve Bank's decision to lift interest rates in March, Master Builders Australia said yesterday."
"MBA chief executive Wilhem Harnisch said the latest building approval figures were more evidence for the Reserve Bank to leave rates on hold this month."
4 Comments:
Learn Real Estate. How Hard Can it Be?
http://www.dailyheights.com/archives/2005/05/learn_real_esta.html
Regarding that Seattle article (about Florida via Chicago):
I wish the avg Joe condo-buyer would step back and take a look at what they are doing. Speculators are stockpiling properties to offload at the first sign of a sucker. This was similar to what happened in the stock market in the late '90s: insiders would load up on cheap IPO shares and distribute them to retail fools.
These property speculators lose if retail buyers step away. Because these properties were never intended to be held or lived in, the speculators will have a very short leash on them. They will flood the market once the market turns down.
But the avg Joe doesn't realize that. He/she thinks the market is in runaway mode so he bids, outbids and bids some more. He/she doesn't understand that by stepping away, prices would fall of their own weight and speculators would be forced to reduce prices to get out of the market.
I hope avg Joe's start reading some of these articles about rampant property speculation. Maybe, just maybe, they will begin to understand that they are the suckers in this game. They have the ability to stop it by not opening their wallet.
NEWS FLASH!!!!!!!!!!!!!!
Homes: U.K. went cold; U.S. could too
U.S. homeowners can learn a lot from the housing slowdown in the U.K. market.
http://money.cnn.com/2005/05/03/real_estate/investment_prop/lessons/index.htm
Just a qn for experts
what is a condo conversion?
what is diff an apartment and a condo?
I know that condos are owned by individuals and association maintains the property. in an apt , one owner owns the complete set of units.
correct me if I'm wrnong
Post a Comment
<< Home