Sure, get ahead. But not ahead of ourselves!

Sure, get ahead. But not ahead of ourselves!

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Australia finds itself at a precipice (especially if you reside in Sydney) – sea – level rise to hit Sydney worst, warns climate report. In my humble opinion Julia Gillard’s Fort Fumble would struggle to negotiate a pedestrian crossing so I would pay little attention to the findings of the Climate Change Department – otherwise known as the (cash for comment) Carbon Tax Sales Department. Time to end climate denialism, says Gillard government scientific adviser which I agree is a modern day fact of life that needs addressing – just not by a government that is best recognised for bungles (not miracles) of economic management. Australia produces between just one and two per cent of global  emissions, so let’s explore why the emitters of that other ninety eight to ninety nine per cent have decided to do nothing (at this point in time).

That Australia has to wait until July before Fort Fumble announces the actual content of a new tax announced in February, defies common sense. Alas, Julia Gillard tells Labor MPs she’s playing ‘the long game’ and that Abbott’s popularity will fade which is just like saying that I don’t pay attention to the polls. As Alan Kohler wrote this week, Climate change action: make policy not war – “UBS analyst David Leitch has calculated that to achieve (the required emissions reductions) that with a carbon price alone would require a price of $80 per tonne, which is four times the planned starting point for the Labor Government’s carbon tax.” This would explain why the other ninety eight and ninety nine per cent emitters are not addressing the carbon problem.

BUY PRINT

Fort Fumble is now at war with the Western Australia government as Colin Barnett blows a $2bn hole in Wayne Swan’s budget target. Another public relations disaster for Julia Gillard where the threats should have been kept in–house, not broadcast all over the country. Although it later became apparent that the Government knew about WA mining royalties which is now a fine mess to a political brawl between Wayne Swan and Troy Buswell over mining tax. WA facts and figures reveals that Western Australia has been the highest–earning Australian state per capita. The GSP (gross state product) is very impressive and clearly evident.

Prime Minister Julia Gillard is experiencing popularity declines Labor powerbrokers back Julia Gillard despite lowest ever polling and the polls will only get lower. In Queensland the LNP makes more ground in opinion poll and it is very clear that the Rudd state voters can’t wait to dump Gillard. A Galaxy Poll in this week’s Courier – Mail had Liberal National Party further in front with 61 points to Anna Bligh on 39 so another change of government is underway in Queensland. Fort Fumble has brought this discontent upon themselves so no need to feel sorry that nobody is listening which was evident at last week’s Victorian Labor Conference which experienced the lowest turnout.

Source: The Australian- order Bill Leak’s print

Arrears on mortgage repayments spiked to a record high in the first three months of 2011 as Low – doc mortgage arrears top GFC peak. If you look at the Housing Equity Injection, a major player in the determination is credit growth, aggregate demand and employment which then lead to spending sapped by stagnant house prices.

In another interesting first we now see RBA warns many first home buyers who used government grants may now be vulnerable which is somewhat contradictory to an earlier statement that RBA says mortgage stress not a problem – for now. A key indicator is always employment and growth in this sector is weakening which all but guarantees no rate hikes when the RBA next meets, in June.

Consumer spending is another thing to watch closely as that too is getting weaker and weaker. Now, economic data that shows employment, retail sales and housing market activity all declining. One should also take into consideration that all this data coincides with the time of year and we expect sentiment to improve greatly as we get closer to Spring and Summer (always the case).

Here are this week’s property statistics, downloaded for our property markets from – Domain

MOSMAN – 2088

  • Number of houses on the market last week – 120
  • Number of houses on the market this week – 118
  • Number of apartments on the market last week – 101
  • Number of apartments on the market this week – 96

CREMORNE – 2090

  • Number of houses on the market last week – 21
  • Number of houses on the market this week – 18
  • Number of apartments on the market last week – 35
  • Number of apartments on the market this week – 36

NEUTRAL BAY – 2089

  • Number of houses on the market last week – 13
  • Number of houses on the market this week – 12
  • Number of apartments on the market last week – 60
  • Number of apartments on the market this week – 58

So it would be fair to suggest that our property markets are somewhat ‘nonplussed’ which is exactly where we expect our demographic markets to sit for the next few months.

It was with great sadness that we lost one of our original subscribers to Virtual Realty News this week, with the passing of Dr. Bill Bramwell Roberts. “Billy Boy” would often grace our blog as TMW: The Mosman Wordsmith. A great mate of ours and a fantastic husband to Pat and father to Sophie and Victoria. Bill was Mr. Nice Guy to everyone who had the pleasure of sharing his company.

Cheers ^__^

This week’s sales Mosman real estate, Beauty Point real estate, Clifton Gardens real estate, Balmoral real estate, Cremorne real estate, Cremorne Point real estate, Neutral Bay real estate, Cammeray real estate Click Here

5 Responses to “Sure, get ahead. But not ahead of ourselves!”

  • Another reader says:

    Posted a day early, Ann will miss out being the first-cab-off-the-rank this week.

  • Correct – we will be attending Bill Roberts funeral service tomorrow morning so we have broken our weekly tradition. I’m sure Billy Boy will be suitably impressed 🙂

  • Ann says:

    3rd cab suits me

  • Ann says:

    Surely they wont knife two PM’s in less than 2 years?

  • Gordon says:

    Those GSP figures are interesting, though they look a bit suss: NT has a higher GSP/per capita than the wealthy and cosseted public servants in Canberra?

    The downturn in personal spending and mortgages, plus softening employment stats, is putting the expected pressure on many people who believed the government line that first home buyer’s grants were always a great thing for young people.

    Just as you predicted here first, Robert.

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