Property. The bubble is about to burst.

Much has been written at blogocrats about the property market and in particular, the doubling and tripling of the first home buyers grant.

Some commentators have suggested that this will only serve to artificially maintain the property price bubble, while others argue that the fiscal stimulus is necessary to buoy the fledgling economy and ultimately boost development and employment.

However Louis Christopher, the head of property research at Adviser Edge, is not convinced. He has recently published the following analysis which is a bit of a bombshell for those that believe Australia’s property market will escape a dramatic downturn:

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Economy XIX

(I think XIX is 19… but will stand being corrected).

Overnight, as reb has mentioned, the Dow fell by 5% to it’s lowest level in five years.

Last night I woke at 2am Manila time and could not sleep and ended up watching the US Congress sittings with the CEO of the four car manufacturers. I was half asleep and so may be mistaken in what I heard but I think this was the gist of the what I heard.  The CEO’s want an immediate cash injection of $25 billion otherwise woe-be-tide the consequences.

A republican was asking the CEO’s questions like:

Fake New York Times Online

In case you missed last week’s fake The New York Times, THE IRAQ WAR ENDS, this is an online version.

Kevin Rennie