interesting article here:
http://www.bloomberg.com/news/2011-06-30/australia-home-price-drop-pits-local-bulls-versus-foreign-bears.html
on the whole reasonably well balanced, but more on the D&G side.
few interesting quotes:
“Australia stands out as the one developed housing market that didn’t have a meaningful correction,” said Ben Jarman, an economist at JPMorgan Chase & Co. in Sydney. “The thinking among market bears is that surely that domino has to fall as well, particularly when you saw a very strong year for price growth in 2009 and 2010.”
"Marc Faber, publisher of the Gloom, Boom & Doom report, last month urged investors to short-sell Australia & New Zealand Banking Group Ltd. (ANZ) shares, citing excessive household leverage and an overvalued property market."
"John Taylor, founder of FX Concepts LLC, the world’s largest currency-hedge fund, says Australia’s banks, which remained profitable throughout the financial crisis without government bailouts, are now overextended and will cut back on credit, helping spark a recession."
"Jack Foster, global head of real estate at Franklin Templeton Investments, said he’s switched from a bearish view on Australia’s housing market as the resilience shown by Australia’s banks following the collapse of Lehman Brothers convinced him a slump is unlikely."
http://www.bloomberg.com/news/2011-06-30/australia-home-price-drop-pits-local-bulls-versus-foreign-bears.html
on the whole reasonably well balanced, but more on the D&G side.
few interesting quotes:
“Australia stands out as the one developed housing market that didn’t have a meaningful correction,” said Ben Jarman, an economist at JPMorgan Chase & Co. in Sydney. “The thinking among market bears is that surely that domino has to fall as well, particularly when you saw a very strong year for price growth in 2009 and 2010.”
"Marc Faber, publisher of the Gloom, Boom & Doom report, last month urged investors to short-sell Australia & New Zealand Banking Group Ltd. (ANZ) shares, citing excessive household leverage and an overvalued property market."
"John Taylor, founder of FX Concepts LLC, the world’s largest currency-hedge fund, says Australia’s banks, which remained profitable throughout the financial crisis without government bailouts, are now overextended and will cut back on credit, helping spark a recession."
"Jack Foster, global head of real estate at Franklin Templeton Investments, said he’s switched from a bearish view on Australia’s housing market as the resilience shown by Australia’s banks following the collapse of Lehman Brothers convinced him a slump is unlikely."
