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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Earlie who wrote (35277)	8/11/2005 8:49:50 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Welcome back Will you stick around this time? Mish

To: Earlie who wrote (35277)	8/11/2005 11:38:44 PM
From: mishedlo	Respond to of 116555

Sydney - Friday - August 12: The governor of the Reserve Bank of Australia (RBA) said Sydney was experiencing a dampened housing market because it was far too expensive to live in. "In dollar terms Sydney is still way way more expensive than other cities in Australia," Ian Macfarlane told a parliamentary committee in his semi-annual testimoney. "... Despite all the house price increases in Melbourne and despite all the house price increases in Brisbane, Sydney is still extraordinarily expensive. That's why I have to say I get a little impatient when I hear the real estate industry in NSW saying, look, we have to get house prices going up again and somehow or other that is going to save NSW. It's Sydney's problem not its solution." He said the vendor tax from the NSW government was not the main factor in dampening Sydney's housing market, it was the price of houses.

To: Earlie who wrote (35277)	8/12/2005 12:09:24 AM
From: mishedlo	Read Replies (3) \| Respond to of 116555

The number of vacant single-family homes for rent now stands at a record 1.339 million, said Rick Murray, an analyst for Raymond James & Associates. In a report issued in April, Murray called the "hidden inventory" of single-family rental homes a sign of "irrational investment decisions." It could increase the supply of homes for sale and "exert downward pressure on prices," he wrote. news.yahoo.com