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Crunch Time – Will Interest Rates Rise on 7 Nov?

November 7 is the day when the Reserve Bank of Australia [RBA] announces the outcome of its decision as to whether there is a new official cash rate. Most analysts think the RBA will have to raise rates by at least 25 basis points. Marquette Turner Managing Director, Michael Marquette is inclined to agree that […]

Mansion Minding

A company in North Texas has come up with a simple, innovative method to maintain houses for sale whilst on the market. As the real estate market continues to struggle along and properties take longer to sell, Mansion Minders  keeps up the homes whilst at the same time providing plush living quarters at a cut rate. […]

Mopping Up The Mortgage Brokers: Australia’s Banks On The Assault

After losing their market share to mortgage brokers during the real estate boom years in the earlier years of this decade, Australia’s banks are on the offensive. First off the market his year was Westpac which acquired the RAMS Home Loans brand, followed by the Commonwealth Bank which acquired a stake in Aussie Home Loans […]

The Great Australian Tax Grab

How’s this for short-sightedness: The New South Wales Government’s infinite wisdom to increase taxes by $3.6 billion AUD to compensate for their years of inept mismanagement of states coffers will have a huge impact on the property sector at a time when it can least afford it. NSW Labor Premier Nathan Rees and Treasurer Eric […]

London Luxury Home Prices Continue To Fall

The world’s most expensive location for prime real estate behind Monaco, Central London has seen luxury home values fall for an eighth month. Such locales include Mayfair, St John’s Wood, Regent’s Park, Kensington, Notting Hill, Chelsea, Knightsbridge, Belgravia and the South Bank neighborhoods of London. As recently reported by Bloomberg, in November the approximate average […]

2009: Imagine What Could Happen

It’s worth imagining what 2009 could bring. I am a not a pessimist but it is worth glaring into the crystal ball and letting go of today and dreaming – dreaming it is December 2009. Has the US Fed pumped trillions of dollars into the US economy and what has been the result? Have property […]

Australia Will Likely Avoid Recession

Australia’s economy will avoid a recession next year, helped by lower interest rates, government spending and exports. A recent Report (Economic Outlook No 84) by the Paris-based Organization for Economic Cooperation and Development (OECD) stated that the Australian economy will grow 1.7 percent in 2009 from 2.5 percent this year, before accelerating to 2.7 percent […]

Australian Auction Clearance Rates: Week Ending 23 November

Here are Australia’s auction clearance rates for the capital cities for the weekend ending 23 November, 2008, courtesy of RP Data. Simon Turner FYI: Read related articles on Auctions; or Buying Real Estate; Credit Crunch; or Interest Rates

On The Cards: Another Australian Interest Rate Cut

The Reserve Bank of Australia (RBA) will meet on Tuesday 2 December and, the Marquette Turner team expect, they will make a fourth consecutive cut to the official interest rate. A survey of 18 economists by the Australian Associated Press revealed the following: All 18 economists believe the RBA will cut interest rates 11 economists […]

Pete Sampras Sells His Californian Home

Whatever level of real estate, at whatever price, there are still numerous stories of people that, whilst not necessarily “doing it tough” are still struggling to find success in the current real estate market. The world’s greatest ever tennis player, Pete Sampras (based on Grand Slam titles I must add, before I get heaps of […]

If A Deal Sounds Too Good To Be True…

Overseas property still remain enthusiastic when the right investment is presented to them, as the results of a campaign of 14,000 investors displayed when questioned on the subject of “Irresistible deals”. investors were presented with the opportunity to acquire an apartment in Paris with a nine year rental guarantee, taxes paid by the government, 100% […]

WISE GUY: Why Does the Australian Dollar Suddenly Have So Few Friends?

It was almost like you went to put the kettle on during the ad break and everything changed with the Australian Dollar: one minute we’re pushing (almost) the 1 AUD for 1 USD and within a few months the AUD is struggling to buy 60 cents US. Not being an economist, and learning on the […]

Cheaper to Fly? The World’s Most Expensive Cities to Park Your Car

Experts suggest that the price of parking your car is, in general, inversely proportionate to the amount of office space available.* Therefore, due to a relative glut in commercial office space in Australian cities, we have some of the highest parking rates in the world! Monthly Parking Rates (all in US Dollars) London City, UK           […]

Growing Pains: Michael Jackson Forced to Sell Neverland

It seems that no matter who you are, the credit crunch is snapping at your heals. And, as we seem to be hearing more and more each day, people from all walks of life are losing the battle. Michael Jackson, he of the world’s biggest selling album of all time, “Thriller” (and on its 25th […]

Bank of England Cuts Interest Rates to Lowest Since 1955

The economic storm is penetrating every corner. The Bank of England’s Monetary-Policy Committee (MPC) has pulled of shock when most thought there are almost no surprises left: it has cut UK interest rates by 1.5% leaving them now at 3% – the lowest level since 1955. The boldness should be commended, although it clearly demonstrates […]

Reserve Bank has blood on its hands – We must have further interest rate cuts – NOW!

Part 1 of a 2 Part Report (read Part 1) Yesterday’s rate cut of 75 basis points 0.75%) was the right decision by the Reserve Bank of Australia (RBA). Fifty points (0.5%) definitely would not have been enough after the release of some of the worst economic data in many years. I had predicted in […]

Obama, “The Socialist”? It Is Time For Change

It’s almost impossible to ignore the fact that the US election is just one day away (Sydney time). The need for change of any sort is more apparent than ever and the change is needed for both domestic and international reasons. I have many friends and colleagues in the United States and they are some […]

The Richest 5 People in the World…For Now: A Call To All Australian Entrepreneurs

The world is changing fast. The credit crunch has hit, stocks have plummeted and wealth has been redistributed to where? India!  It’s a global competition and Australians have every opportunity to punch with the very best of them. Out of the 5 wealthiest people in the world, 2 are from India. It is a changing […]

Not So Cool Anymore: Iceland’s Meltdown

Iceland is in serious financial trouble. In fact the country is close to bankruptcy and British Prime Minister Gordon Brown has announced that Britain is commencing legal action against Iceland to recover deposit monies for over 300,000 Britons. As Australians it is hard to understand how bank deposits are not secure. How can you lose […]

“The Real State” by Simon Turner: How Safe are Houses?

The global market’s erratic performance over the last week has certainly called into question the financial strategies of many (including, it could be said, of the hapless President George W Bush). Regardless of whether one agrees or not in principle or practice with the Federal bailout in the United States, we should at least begin […]