look at the graph Hobo, clearance rates at 60-70% are very high. your graph looks at Melb over what 5-7 months?
now it ticks back to 70% for 2 weeks and you've stopped your series.
look at the longer term Australian graph above.
interest rates? thats a negative???, market was slowed, and is stable, you think CR 3% was sustainable...interest rate pricing futures are flat now till end 2011. as RBA said, were back to "normal levels"
same for FHOB removal??? a negative, it was called a "boost" for a reason. Apparently all these things were going to cause the "delayed" crash.
Lending growth has been sliding for years, since 2005. Time for a bounce this summer imo. We have been on a downtrend based ON PAST RATES, but overall lending is still positive.
http://christopherjoye.blogspot.com/
PS: as I mentioned previously, the big one is wages are going back up. I noted recently talking with friends how many of them have had pay rises recently after being on hold for 18 months-2 years. Most around the 5% mark, some much higher.
