Don’t Buy Now Campaign launched

Karl FitzgeraldCommentary3 Comments

Home Buyers Strike Called

The Dont Buy Now Home Buyers Strike was launched Tuesday to warn prospective property buyers that now is the worst time to buy a house.

The state of the housing market is unfurling at a rate of knots. A mexican standoff is being played out between sellers trying to maintain prices and buyers being hounded to jump into the market. Abnormally high auction listings raise questions about our supposed housing supply shortage.

Usually Melbourne averages around 700 properties for auction per weekend. The next 3 weeks will see 900 properties listed per weekend, on top of the 1000 plus type listings in December (of all months!).

Check unexpected jump in mortgage arrears, the suburban divide and here comes the crash.

Tuesday’s ABS housing lending figures were also of note.

RP-Data tweeted Mar 15 “Capital gains recorded in all capital cities in past 12 months, except Sydney, have been below avg annual growth in values over last decade.”

The spruikers are exiting the market and will be doing all they can to cover their trails.

With this in mind we have triggered a Home Buyers Strike awareness raising campaign.

GetUp supporter Bullion Baron has picked up on Prosper Australia’s press release Prosper Calls for Buyers Strike and listed it on the GetUp campaign ideas forum. (FYI Prosper is Earthsharing’s parent body). Here is the latest press release @Prosper : Buyers Strike Day 3.

At present we are racing up the GetUp charts from 111th Tuesday night to 19th a few minutes ago. A campaign on GetUp could be just the kickstart we need to bring people into the bigger issue of re-balancing the tax game away from speculative largess and towards housing as a human right.

We need 300 more people to vote a ‘3’ (just 900 votes) to be the number one GetUp campaign idea.

Vote for our Buyers Strike on GetUp – it takes barely 20 seconds.

Forward on the link:

Join the facebook group

– the most recent comment there was “At last…the voice of the people instead of the spruikers!”

In Jan 2011 the average first home buyers loan was a staggering $266,700. In April 2000 (just as John Howard’s halving of Capital Gains Tax was kicking in) the average size of a loan was $134,000. The halving of CGT for a select few has in effect doubled the costs for the rest of us.

Now’s the time to act. Warn your friends!

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