Steve Keen-where are you now?

I love little boy stevie keen, he has been very very good for the bottom line.

There was a post on SS a couple of years ago by a disgruntled former cult member saying he felt betrayed, from memory he has decided to buy into the syd market at that time. Wish I could find that thread and it would be interesting to hear an update on what he did.

His name was sydbear on something like that
 
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You could follow him on twitter if bothered

He describes himself as:

Economics Prof, Neoclassical Econ critic, Debunking Economics author, Debwatch blogger, Developer Minsky modeling program

In business spectator Keen recently said
The bulls are roaring, house prices are rising, and all's well with the world.
Or maybe not. Certainly house prices have risen -- and contrary to popular opinion, I expected price rises this year, since mortgage debt has been accelerating since the beginning of 2012 (see Figure 1). One of my many economic heresies is the argument that asset prices are driven by rising debt. Rising asset prices -- in this case, houses -- require accelerating debt (in this case, mortgage debt), and that?s indeed what we?ve had since the beginning of 2012.



I did see this from Roger Montgomery on the Property Bubble we had to have
 
I like the comment where John Howard gets blamed for negative gearing. Ha!:rolleyes:

"The baby boomers got everything cheap and their parents helped them out creating a generation of spoilt brat baby boomers who had everything easy, including housing affordability. Then they have the audacity to blame us for being lazy when there are no real jobs available and we are confronted with the impossibility of affording a home"

This country is in trouble.
 
"The baby boomers got everything cheap and their parents helped them out creating a generation of spoilt brat baby boomers who had everything easy, including housing affordability. Then they have the audacity to blame us for being lazy when there are no real jobs available and we are confronted with the impossibility of affording a home"

This country is in trouble.

That would be unfairly tarring everyone with the same brush. However I must admit to spoiling my own children so can relate to this blog post about a subsection of the Y generation. The GYPSY.

Why Generation Y Yuppies Are Unhappy

It has some wonderful graphs to illustrate the point.
 
It's interesting. We live in the most prosperous country in the world during one of it's most prosperous times. The affordability index is the best it's been in years. If people can't afford a 300k property (which will build you a very nice new house in Bengido for example, or 350k for one in Langwarrin, or that much for a nice 1 bedder with parking in St Kilda) then it's just a priority thing.

I don't see anyone complaining about the $70k average annual income that can be achieved working a safe and cruisy office job with no Uni degree, the gap years we take travelling Europe and SE Asia, etc.
 
It's interesting. We live in the most prosperous country in the world during one of it's most prosperous times.

Yea well.

With prosperity comes the need for PS4s, Xbox One, the latest Pentium 4 computers to make sure high definition blu-ray play at the best quality on the Sony Ultra HD television equipped with state-of-the-art Harman Kardon surround sound speakers. And all this better sync with the iPhone 5S and Galaxy S4, which can be remotely controlled by the 80GB storage iPad 2 so that even while you're out on Saturday morning sipping latte, you can make the TV come on and off.

Oh and of course an overseas trip every year since the age of 18 because, you know, live life while it lasts.
 
I have to thank Steve Keen for spreading all the fear about property crashing back in 2008. I bought my first apartment around the same time he was selling his, and my unit has appreciated about 40% since and positively geared.
 
Should be called the YOLO generation.

For the high income ones (as some people call themselves in the SMH comments section) on probably a whooping $100k salary, the occasional Zegna suit and A Testoni shoes.

And who would wear a watch that is anything other than Patek, AP, Jaeger or Blancpain when you're on that sort of income?

Remember, you only live once.
 
Scoff at Keen at your own peril, the guy got a lot right predicting the GFC and is internationally respected for that. There is still some chance he will be right on Australia, just a bit early.
 
Scoff at Keen at your own peril, the guy got a lot right predicting the GFC and is internationally respected for that. There is still some chance he will be right on Australia, just a bit early.


So how long do we have to wait ?

2 ,5 , 10 , 20 , 50 years

Will he claim victory if it's 20 years . He gave a fairly specific time frame and was wrong.....

Cliff
 
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