Why are houses unaffordable from London to Sydney?
It’s not just “supply & demand” — it’s the rocket fuel of bank-created mortgage credit.
Steve Keen uses long-run BIS data to show how real house prices were flat for a century, then exploded after the 1980s when banks unleashed mortgage lending. The real driver? Not the level of debt, but the change in the change of mortgage debt — the credit impulse.

#HousingCrisis #PrivateDebt #CreditBubble #SteveKeen #Economics #HousePrices #DebtDynamics #Macroprudential #Inequality #PropertyBubble

https://m.youtube.com/watch?v=8aWelA1I0NM&feature=youtu.be

Australia’s housing market would crash if these factors aligned

An Australian property market crash may be laughable, but it’s conceivable. Housing is politically sensitive because access to…
#NewsBeep #News #Headlines #AU #Australia #Business #Economy #houseprices #Housing #housingaffordability #housingbubble #HousingCrisis #housingmarket #propertybubble #propertymarketcrash #propertyprices #trends
https://www.newsbeep.com/40541/

Real estate agents are rarely considered the victim. But when it comes to the behemoths of property listings in Australia, estate agents have faced price gouging to the tune of a 5000% price rise over the last 15 years for a 'premium' listing on the market-dominant platform. Without paying for that 'premium' service, properties tend to disappear from search results.

Since the behemoth in question is a subsidiary of (and substantially bankrolling) Australia's dominant media company (i.e. #Murdoch), with a market capitalisation greater than supermarket giant #Coles, here is yet another reason the political duopoly are reluctant to touch structural #TaxJustice issues such as #NegativeGearing or #CapitalGainsTax.

#RealEstate #WealthInequality #Auspol #AusMedia #PriceGouging #HousingJustice #HousingPolicy #housing #PropertyBubble #CostOfLiving #MurdochMedia #MurdochPress

https://web.archive.org/web/20240000000000*/https://www.theguardian.com/australia-news/2024/sep/19/the-bear-at-the-door-estate-agents-say-they-fear-speaking-out-about-realestatecomau-price-gouging

No winners. #MascotTowers apartment owner-occupiers offered sale to third party consortium. #ausproperty #australia #Property #propertylobby #scam #propertybubble

https://www.abc.net.au/news/2024-01-06/mascot-towers-owner-occupiers-offered-potential-settlement/103289980

Nobody talks about tulip mania anymore because nobody can laugh about tulip mania anymore.

#Housing #Poverty #PropertyBubble

DID YOU KNOW: #TheOlympics is a #gentrifiers wet-dream and does more to hurt people and entrench privilege and access, than most other global events.

Its not something we can sustain, especially not in its current form.

#repression #policeViolence #bigProperty #bigRealEstate #housing #housePrices #propertyBubble #speculators #speculation #travel #extremeTravel

Australia's #construction cartel strikes again.

Remember when everyone poured scorn on #China for their #wasteful construction to boost #GDP?

Well #Australia is following in China's footsteps due to #covid19, offering $150,000 grants to already-wealthy #landowners to #renovate properties.

Because we need to keep inflating that #propertyBubble - and #houses in Australia are just not big enough.

Renovation is fine, but not #moneyPrinting and #taxes to support excesses!

#auspol #scomo #giabo