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- 6 September 2008
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I don't think it's so much the housing market but rather sentiment and costs. Business and consumer sentiment is very low, and it just seems like one beat down after the other while labor is in charge. Red tape is out of control, IR needs a overhaul, FWA is a joke, there is no clear direction or stability in government and the unions are making life hard. Throw in business expenses like taxes, workers comp, wages, rents and elec all going crazy and it's not to hard to see why people just fold.
I do think however that the amount of debt on housing has sucked the liquidity from the economy.
Baillieu just did away with the FHBG in Vic, a good thing really.