What exactly did you expect the president of REIA to say? He HAS to sing from the hymn sheet! C'mon!
For a balanced debate you should try finding a contrarian economist, with data, like Steve and without a vested interest in the result. Can't find one, can you? Is that possibly a sign?
Let's dig a bit...
First, have REIA and their members fund what looks like independent research like BIS.
http://www.ljhooker.com.au/page/buy/respropertyindex
Then release it to the press, who pick up on the story:
http://business.smh.com.au/business/house-prices-tipped-to-defy-rate-rises-20080616-2r6g.html
Strategy: hype and pray the music doesn't stop....
But alas, the music has stopped:
http://seekingalpha.com/article/100789-worldwide-housing-declines-u-s-halfway-down-the-list
Let's hope Steve is wrong, though the pragmatist in me thinks he's probably right.
Which Way for House Prices? | BTalk Australia
By Phil Dobbie | October 21, 2008
BNET Australia Contributors
Aussie Rules
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BNET Australia Contributors
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(12min 40) As part of the plan to drive confidence into the economy the Aussie government is offering up to $21,000 for new home buyers. This on top of the recent 1% drop in interest rates from the Reserve Bank. What does this all mean for house prices?
Today on BTalk Phil Dobbie talks to Noel Dyett, the President of the Real Estate Institute of Australia. Despite the economic outlook and the high level of debt wrapped up in housing he believes there are still reasons to be optimistic about house prices.
Tell us what you think in the Talkback section at the bottom of this post.
For a different view on how where house prices are heading listen to the BTalk podcast with Prof Steve Keen.
Also listen to Alan Moran’s view on how the reserve Bank is doing the wrong thing by lowering rates.
More from “Aussie Rules”
Talkback 2 Talkbacks
RE: Which Way for House Prices? | BTalk Australia
jerrya@...
10/22/2008 07:15 PM
RE: Which Way for House Prices? | BTalk Australia
Thanks for that Jerry - I was trying to be
balanced - we have Steve Keen on a few days
before giving his view. Tnanks for the links
though - I think anyone expecting price hikes
is going to be disappointed.
Anyone trying to follow the links from Jerry
try:
http://business.smh.com.au/business/house-
prices-tipped-to-defy-rate-rises-20080616-
2r6g.html
and http://seekingalpha.com/article/100789-
worldwide-housing-declines-u-s-halfway-down-
the-list
balanced - we have Steve Keen on a few days
before giving his view. Tnanks for the links
though - I think anyone expecting price hikes
is going to be disappointed.
Anyone trying to follow the links from Jerry
try:
http://business.smh.com.au/business/house-
prices-tipped-to-defy-rate-rises-20080616-
2r6g.html
and http://seekingalpha.com/article/100789-
worldwide-housing-declines-u-s-halfway-down-
the-list
phildobbie
10/26/2008 04:34 PM
