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Here's what they were saying in New Zealand last year: http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10435710

Those figures I provided are for NYC, not New York State.

Primarily density becomes the problem. That is by far not a problem in Australian cities. But in New York and Tokyo, you are trying to fit the population of Australian in a spatial area smaller than Sydney.

??? According to NAR and HUD the affordability index is around 7 at the moment. It was 9 in 3rd Q 2007. This is median house price to median income. Check here http://www.housingtracker.net/affordability/new-york/new-york Seems like you're cherry picking stats to make it look ridiculous.

I think price to income is around 8. Saw this in NAR or OFHEO stats, but will have to check. The long term level is around 5-6 times income Considering the size, wealth and population of the city, the ratio should be higher than in cities of Australia.

There is the full recourse nature of NZ and UK markets as well. Meanwhile, many markets in the US are full recourse. New York state for one - while New York city has fallen around 7% over the year. There is no overbuilding there, full recourse mortgages, and similar to Sydney, heavily dependent...

The problem with Gittins article is he is restating the same reasons used at the peak of both the UK and US markets. It is a rubbish argument to use. There was certainly no overbuilding in the UK.

Where is your data from? I am looking at official data.

These data are for Sydney? If so, that's a 30% drop on the September quarter last year. If so, not looking good.

ANZ's change to lending requirements certainly doesn't indicate confidence in their beliefs of underlying demand.

Plenty of other countries have guaranteed wholesale lending and the markets are still impaired. The rating and government guarantee don't matter - the financial system is aware of the size of the problems that exist and know that no guarantee from the government can underwrite it. What you...

Year ending is misleading. The December 07 quarter was a relative buying frenzy. What are the sales volumes since then? Or in the September quarter this year? That would be more accurate. Why will people come back to Sydney when its economy is in such a parlous state? Who cares about the...

See, you immigrants tend to prefer to live in higher than average occupancy rates. For years you lived below the average, which only built up a lot of pent up demand. Thanks for proving my point.

As many stats as you have to prove that the household occupancy rate should trend ever lower. It's conjecture, but from my experience, people arriving from overseas tend to live more densely than Australians. My other point on the 'mini baby boom' still stands. Which are debatable depending...

Who's to say the trend must be linear towards zero? Obviously it will flat-line at some point. I would suggest it would flat line above 2. I'd suggest that maybe the reason why it has flat-lined are indeed the reasons you often cite for the next house price boom, namely a 'mini baby boom' and...