News item on Interest Only Mortgages

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Chan­nel 7’s Today Tonight is doing an item on “Inter­est Only Mortgages”–like the prod­uct that ING has recently promoted–and the whole hous­ing bub­ble issue.

They are look­ing for any­one who has been “burnt” by either an interest-only loan, or a loan that was pred­i­cated on the expec­ta­tion that house prices would always rise–as is ING’s new product–who is will­ing to be inter­viewed about the expe­ri­ence on camera.

Stanford and Keen double bill

[video src="http://www.debtdeflation.com/blogs/feed-20-5-2010/podcast/StanfordKeen20100514.flv" width="500" height="400" ]

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Jim Stan­ford, the author of the pop­u­lar  Eco­nom­ics for Every­one (from which the car­toon to the left is taken), and I spoke at a dou­ble bill on the global debt cri­sis for the ven­er­a­ble Syd­ney insti­tu­tion “Pol­i­tics in the Pub” last night.

A monkey off my back

[video src="http://www.keenwalk.com.au/wp-content/uploads/images/KeenInterviewUphillRun.flv" width="500" height="400" ][video src="http://www.keenwalk.com.au/wp-content/uploads/images/SwagsRoadTest.flv" width="500" height="400" ]

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The Keen Walk to Kosciuszko was a fab­u­lous experience—as Matt Car­roll (one of the orga­niz­ers) put it, it was “the best hol­i­day ever”. That’s not to min­i­mize the effort involved: cov­er­ing 235 kilo­me­tres on foot in 8 days is no mean feat. But the com­bi­na­tion of great com­pany, per­sonal suc­cess for all involved in an impres­sive phys­i­cal chal­lenge, lovely scenery, excel­lent weather, and a cause that united a remark­able group of peo­ple, made The Walk far more plea­sure than pain.

Interview on Ten’s The 7pm Project

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After Aus­tralian house prices rose 20 per­cent in one year, everyone’s talk­ing a bub­ble.  Chan­nel Ten’s new(ish) avant-garde cur­rent affairs pro­gram asked for my per­spec­tive on the day the RBA yet again increased inter­est rates.

After lead­ing in with the news and a fea­ture on Neil Rober­ston, the 26-year-old Aus­tralian snooker player who won the World Cham­pi­onship, the story on house prices began 4 min­utes and 5 sec­onds into the video below.

Letter to PM on Residential Property Prices and Foreign Investment Laws

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The news that the Rudd Gov­ern­ment was rolling back its changes to Australia’s for­eign invest­ment rules on hous­ing came as we were still on The Walk. Just prior to start­ing it, I received a note from Dr John Daffy, with the fol­low­ing let­ter from him to the PM attached. I asked John whether I could pub­lish his let­ter on the blog, and he agreed.