Broad based house price falls

Find above a snap shot of the ABS eight city house price index released today. Relative to Rismark, falls are a slower than in Brisbane and Perth but much more widespread, and larger in Melbourne and Sydney. Here is a graph of the eight cities since 2002,

It is a long way up to the top if you want to rock n roll…

Finally, in a sign that mainstream economists still have no idea about the effects of debt, here is what the consensus expected, -0.5% expected versus -1.7% actual decline,

Comments

  1. Deus Forex Machina

    It’s going to be interesting how this gets spun.

    I just noticed on my Bloomy that their survey on the outcome of this data was expecting -0.5% QoQ against a result of -1.7% and the YoY expectations was of +1.6% versus -0.2% result.

  2. Noice, Prince, very, noice. I see at the top of Joye’s blog he is a Svengali according to none other than News Ltd.

    Svengali-nomics.

    The Svengali fits Mark Twains definition of a gold mine. A hole in the ground with a liar at the top.