At the moment we?re preparing for The Great Property Debate in Sydney on Tuesday 7 June.
You can purchase tickets to the event by clicking here.
Just note there has been a change to the line-ups. I listed the original participants in this issue of Money Morning.
The line-ups are now?
On the house prices won?t crash side: Harley Dale, chief economist, Housing Industry Association; Shane Oliver, chief economist, AMP Capital Markets; Amanda Lynch, CEO, Real Estate Institute of Australia; and Dr. Tony Hayek, CEO, Blue Wealth Property Research Group.
They?ve brought out the big guns. Makes you think they?re worried!
On the other side is? your editor; Professor Steve Keen, University of Western Sydney; and David Collyer, managing director, Prosper.
The working title for our presentation is, ?5 Myths That Won?t Stop a House Price Crash?.
The five areas we?ll cover are:
Housing supply Price-to-income ratios External shocks Quality v Quantity Structural change to interest rates As we?ve dug around, we?ve come across more evidence to support our argument. I?ll reveal all at the debate.
The most important thing is after over two years of abuse and insults from the spruikers and property bulls, we?ve been proved right ? house prices have fallen.
Of course, the spruikers claim we?re just like a broken clock. That is, if we stick to it long enough we?ll eventually get it right. But the reality is, the best time to act was two years ago ? when we first warned of the coming crash.
And when the mainstream denied house prices would fall.
Those who took the risk, believed us and didn?t buy a house are sitting pretty now. Those who laughed at us and believed house prices always go up are suffering as interest rates rise and house prices slump.
But we don?t blame those who didn?t believe us. They are simply victims of the outrageous antics by the spruikers.
