Friday, July 1, 2011

Rental Listings in Australia Up Significantly

As the blog entry postulates, this is possibly the result of household rollups. Analyses in the U.S. missed this factor in their predictions of the impact of a downturn on inventory. People like to eat, and put gas in their car, they will crowd in with others to reach these goals and shortages will vanish in an eyeblink. (If they ever really existed. House flippers while they are flipping, act as a repository for shadow inventory. And a rising market has a lot of flippers.)

Rental listings on the rise
Stats from RPData posted on the Macro Business Blog show there are 22.8 percent more properties advertised for rent than a year ago. In the Northern Territory, the figure is closer to 77 percent, and in South Australia, 40 percent.

Hat tip: Aussie Roy at Greaterfool

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