Its on boys and girls.
One of the finest recalcitrant bloggers (and GFC predictors) on the planet, Mr Mike Shedlock is calling the Great Australian Housing Crash.
Feel the love here and here. Do your own reading.
For the stimulus-will-save-us losers lounge...
Simply put, the pool of greater fools has run out.Summarises it well in my opinion. You think the investors are listening?
Stimulus will not help. After all, how many rounds of stimulus did the US try to restore housing prices? Let me count the ways.
US Housing Stimulus Tried and Failed
Did any of those work? How many others did I miss?
- Fannie and Freddie nationalized
- Home buyer tax credits
- Home buyer tax credit extensions
- HAMP - Home Affordable Mortgage Program
- Numerous foreclosure moratoriums
- QE round I
- QE round II
- Fed bought $2 trillion in mortgages to keep rates low
- Fed holding short-term rates at zero percent
- Record low mortgage rates
Regardless of how many I missed, none of them worked. So why would they work in Australia?
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