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| The Foundation for Economic Growth is a group of like-minded individuals who have decided to act rather than accept New Zealand's continuing poor economic performance. The Foundation is not affiliated with any political party. Add Your Comments here. |
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Most recent update: Sep 3rd, 2010 - 11:37:30
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27 August 2010
Thought for the Day
I was in Australia last week and during the elections one Queensland candidate bemoaned the dearth of tourists in his fine state. I happened to be in Palm Cove which is a delightful part of Cairns' "Beach suburbs".
Unfortunately things are getting a little tight on the money front and one large complex of apartments was in receivership. One of apartment was purchased two years ago for $750,000 and is now for sale at - "Make me an offer in the upper $400s." 40% decline in two years doesn't look good.
Maybe Australia is not immune from the property bubble bursting after all.
We are all subject to the laws of REAL Economics - whether we are Keynesians or not!
Aug 27, 2010, 12:49
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