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Chris Joye - Young Man in a Hurry: Profile; Profile: From 2003
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Topic Started: 20 Feb 2011, 05:07 PM (7,081 Views)
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Alright Jack
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4 Jun 2011, 07:34 PM
Post #16
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This article raises many questions. Should the 'Australian dream' of property ownership be available to everyone, including low wage earners?
I think so, but I doubt this is the best way to achieve it.
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peter fraser
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4 Jun 2011, 09:00 PM
Post #17
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- pauk
- 20 Feb 2011, 06:00 PM
So what happened to his great ideas about affordable housing?
This really is an old article.
To answer your question, he did do something about that when he introduced EFM's (Equity Finance Mortgages)
Essentially they are a good idea, and if the banks in the USA had used them to soak up some of their borrowers debts, then this whole crisis in the USA could have been averted, or at least reduced in size.
I'm not sure whether you will remember Nassim Taleb telling the US authorities to turn debt into equity at the beginning of the crisis, but that is what he meant. If the banks had simply bought 30% of the house in exchange for debt instead of foreclosing and selling at a 30% discount, the borrower would still be in the house making payments they could afford, and the bank would still own an asset that they would eventually collect on.
EFM's could help people in lower economic circumstances buy a house, but that raises the question of whether that is really a good thing in the long term. We all know that some people just can't be saved from themselves.
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Rastus2
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4 Jun 2011, 10:43 PM
Post #18
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- peter fraser
- 4 Jun 2011, 09:00 PM
This really is an old article.
To answer your question, he did do something about that when he introduced EFM's (Equity Finance Mortgages)
Essentially they are a good idea, and if the banks in the USA had used them to soak up some of their borrowers debts, then this whole crisis in the USA could have been averted, or at least reduced in size.
I'm not sure whether you will remember Nassim Taleb telling the US authorities to turn debt into equity at the beginning of the crisis, but that is what he meant. If the banks had simply bought 30% of the house in exchange for debt instead of foreclosing and selling at a 30% discount, the borrower would still be in the house making payments they could afford, and the bank would still own an asset that they would eventually collect on.
EFM's could help people in lower economic circumstances buy a house, but that raises the question of whether that is really a good thing in the long term. We all know that some people just can't be saved from themselves.
Yes, all of these complex ideas of how to make houses more affordable are to be applauded..
Or..
Home prices could drop...
If it is not rapid (as in the US), it's far less painful.
Sometimes, the simple solutions are the best ones.
Truth is, all that introducing the concept of buying a fraction of a home is just putting off the problem for another generation and pretending the house prices can/should keep rising forever.
Why on earth should this silly game keep going using complex diluted ownership methods ?
The only reason I can think is to ensure that those who bought can never lose... and those that are too young to have bought yet are always behind...
seems wrong to me.
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Joye did not understand the functions of the RBA,
Joye did not read the ABS tables correctly
Joyd did not predict the most major financial collapse in the world since the great depression...
Keen can and has done all of the above... but Shadow is still blind to those simple facts, and he claims ..
- Shadow
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For the most part, Chris Joye's predictions have been quite accurate - certainly a lot closer to the mark than Steve Keen.
Love is Blind :c)
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exccer
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19 Oct 2011, 11:26 AM
Post #19
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http://www.blogger.com/profile/17179888415347516976Christopher Joye I first started blogging on ideas relating to economics, finance, investments and housing following an invitation from the leading financial website, Business Spectator. You can locate my old Business Spectator blog here, which has all my archived posts dating back to January 2009. I am actually now a "commentator" over at Biz Spec (ie, no longer a blogger). I have established this blog to provide an independent record of my posts and to enable more flexible, real-time filing outside of ordinary working hours. Please note that I may have an economic interest in any of the items discussed here. You should also be aware that these are my own personal views and do not represent the opinions of any other individual or institution. This material is not intended to provide, and should not be relied upon for, investment advice or recommendations. Readers are urged to seek professional advice before making any investments. While this is a personal blog, professionally Chris is an executive director of Rismark International, having helped establish the business on the basis of a report he produced for the Australian Prime Minister's Home Ownership Task Force. In 2009 The Australian newspaper selected Chris as one of Australia’s top 10 “Emerging Leaders” in its economics category. In 2007 Chris was selected by The Bulletin magazine as one of Australia's "10 Smartest CEOs" and by BRW Magazine as one of "Australia's Top 10 Innovators". He previously worked for Goldman Sachs and the RBA. In 2008-09, the Australian Government invested $20 billion in a radical policy proposal developed by Chris to provide liquidity to Australia’s securitisation market. In February 2009, Chris was invited by the Rockefeller and MacArthur Foundations to present innovative policy solutions at the private Transforming America’s Housing Policy summit for Obama Administration officials. Chris served as a Director of The Menzies Research Centre from 2003-07. He has published widely on matters relating to financial economics and housing. He is a Research Affiliate with the Centre for Ideas and The Economy at Melbourne Uni.
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earthsta
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19 Oct 2011, 12:23 PM
Post #20
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- exccer
- 19 Oct 2011, 11:26 AM
Thats a head that only a mother could love
- exccer
- 19 Oct 2011, 11:26 AM
While this is a personal blog, professionally Chris is an executive director of Rismark International, having helped establish the business on the basis of a report he produced for the Australian Prime Minister's Home Ownership Task Force. In 2009 The Australian newspaper selected Chris as one of Australia’s top 10 “Emerging Leaders” in its economics category. In 2007 Chris was selected by The Bulletin magazine as one of Australia's "10 Smartest CEOs" and by BRW Magazine as one of "Australia's Top 10 Innovators". He previously worked for Goldman Sachs and the RBA. In 2008-09, the Australian Government invested $20 billion in a radical policy proposal developed by Chris to provide liquidity to Australia’s securitisation market. In February 2009, Chris was invited by the Rockefeller and MacArthur Foundations to present innovative policy solutions at the private Transforming America’s Housing Policy summit for Obama Administration officials. Chris served as a Director of The Menzies Research Centre from 2003-07. He has published widely on matters relating to financial economics and housing. He is a Research Affiliate with the Centre for Ideas and The Economy at Melbourne Uni.
Egotistical, self opinionated, narcissistic twat
Edited by earthsta, 19 Oct 2011, 12:26 PM. |
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Shadow
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19 Oct 2011, 08:19 PM
Post #21
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Evil Zealot Specufestor
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- earthsta
- 19 Oct 2011, 12:23 PM
Egotistical, self opinionated, narcissistic twat
You display so much frustration and misdirected anger Earthsta. I get the impression you're jealous of Joye's success.
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Shadow's Blog - The Australian Housing Market
1 - Debunking Demographia. Demographia Survey Debunked. Australian housing is not particularly unaffordable by global standards.
2 - USA, Ireland, UK, Spain and Japan Property Bubbles versus Australia. All confirmed property bubbles had one thing in common... a particular house price/income ratio pattern.
3 - Banks can't margin call on residential property unless borrower defaults, because residential property loans are regulated by the NCCP Act 2009.
4 - Housing is the second highest taxed sector of the Australian Economy. Renters don't pay their fair share of tax, and are subsidised by high taxes incurred by homeowners.
5 - Epic Fail! Steve Keen's Bad Calls and Predictions.
Parse: A rep's spare spear pares pears, reaps as per AREPS.
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iznop
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12 Jan 2012, 07:06 AM
Post #22
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- Alec Smart
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earthsta
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12 Jan 2012, 07:42 AM
Post #23
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- Shadow
- 19 Oct 2011, 08:19 PM
- earthsta
- 19 Oct 2011, 12:23 PM
Egotistical, self opinionated, narcissistic twat
You display so much frustration and misdirected anger Earthsta. I get the impression you're jealous of Joye's success.
Success?
The only successful thing that Joye has done is to be born with a silver spoon in his mouth.
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Alright Jack
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12 Jan 2012, 11:11 AM
Post #24
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- Alec Smart
- 12 Jan 2012, 10:38 AM
Chris Joye named as the top spruiker of 2011, no surprises there then.
- Quote:
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Leading Australian property spuikers for 2011 exposed
December 27, 2011
If you have been spruiking the Australian property market it is time for you to be named. Welcome to our inaugural review of ‘leading Aussie spruikers’. Firstly we should start by providing definitions of the term spruiker or spruiking.
In British English, a tout (spruiker) is any person who solicits business or employment in a persistent and annoying manner (generally equivalent to a solicitor or barker in American English, or a spruiker in Australian English) . According to the American Bar Association, touting occurs when a person advertises, promotes, or otherwise describes a security for sale without disclosing that the person is being paid to do so.
An example would be a person who frequents heavily touristed areas and presents himself as a tour guide (particularly towards those who do not speak the local language) but operates on behalf of local bars, restaurant, or hotels, being paid to direct tourists towards certain establishments. Payments from customers can be direct or indirect.
Does this ring a bell? Have you ever read an article by a self proclaimed independent source or specialist who is constantly talking up the property market. Regardless of whether the market is flat, falling or rising? They just keep on banging away.
Property statistical data may be used as a tool to present information in a certain way. It is interesting to note that real estate data management in Australia is not governed by legislation and there are no licensing requirements. So the data and reports provided by any source can be structured to satisfy the point of view required. As there are no property data regulations and no quality standards in Australia.
Some recent spruiking articles we have exposed suggest that the Adelaide property market is booming and the Brisbane market is predicted to grow by 10% in 2012. Yes believe it or not!
We have decided to let our readers know who are the leading serial property spruikers in Australia and back this up with independent articles. Check out our list below and we have provided links to web searches identifying these spruikers. Click on the link and you will find articles and comments about these spruikers. The web has decided if you are a spruiker. The web has spoken.
We have also provided links to our own analysis and interpretation of spruiker articles and you can find this information in the ‘find spruiking posts’ section below.
Christopher Joy, Executive Director of Rismark International and front man for RP Data has taken the number 1 ranking for 2011. Congratulations Chris for consistently banging away about positive property growth in Australia and how the real estate recovery is just around the corner. Your unsubstantiated, unverified, non audited property reports and pseudo intellectual babble has kept Australia amused and bewildered.
Recently in the face of adversity you stated that “Rismark’s national dwelling price-to-income ratio falling to its lowest level since before 2003. It is little wonder that buyers are returning to the market”. However Switzer stated that figures show that real (inflation adjusted) weekly disposable household income actually fell slightly over the past two years, dropping from $859 a week in 2007/08 to $848 a week in 2009/10.
Chris Joye shame, shame, shame for your constant dribbling. Congratulations for being named the number 1 leading Aussie property spruiker for 2011. Mr Joye does make reference to his commercial financial interests in his personal blog “ please note that I may have an economic interest in any of the items discussed here’
Leading Australian Property Spruikers for 2011
Rank Spruiker Name Employer, title and customers
1 Christopher Joye Rismark International Exec Dir. Other commercial interests in Business Spectator, Property Observer and RP Data. Finance sector, real estate agents, developers, valuers, builders and property industry.
2 Dr Andrew Wilson APM, Economist, Lenders, real estate agents, developers, valuers
3 Michael Yardney Metropole, Property Obsessed, Lenders, real estate agents, developers, valuers,
4 Gavin Hegney Hegney Property Group, Chairman, Finance sector, real estate agents, developers, valuers
5 Cameron Kusher RP Data, Research Analyst, Lenders, real estate agents, developers, valuers
Why not conduct your own research. Go to google and type in a name e.g. Christopher Joye, then click on pages from Australia, then click on either the past week, past month, past year or custom range. e.g. select the boom period 2004 to 2007 and then select a bust period 2010 to 2011.
Christopher Joye has a vested interest in gaining the highest rate of return from the Rismark Equity Finance Mortgages® (“EFMs”). Rismark International and Chris Joye will receive the highest returns if property prices are inflated and housing less affordable. See the Choice article on risky home loans and the RISMARK/ADELAIDE BANK Equity Finance Mortgage (EFM)
There is a distinct ‘conflict of interest’ and Chris Joye will promote house buying and property investment to support his financial and business interests in RP Data, Rismark International and the Rismark Equity Finance Mortgages.
Chris Joye is not an independent impartial property commentator. He is a spruiker.
If you have identified any other property spruikers in the Australian market let us know and we will investigate this.
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micnugget
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12 Jan 2012, 12:41 PM
Post #25
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- earthsta
- 12 Jan 2012, 07:42 AM
- Shadow
- 19 Oct 2011, 08:19 PM
- earthsta
- 19 Oct 2011, 12:23 PM
Egotistical, self opinionated, narcissistic twat
You display so much frustration and misdirected anger Earthsta. I get the impression you're jealous of Joye's success.
Success? The only successful thing that Joye has done is to be born with a silver spoon in his mouth.
The guy is obviously smart and driven. It's just a pity he is wasted in figuring out complicated ways to make money without doing anything useful.
Imagine if he was employed in researching a cure for cancer or developing a new energy source?
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raveswei
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12 Jan 2012, 02:04 PM
Post #26
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- efy6rph
- 20 Feb 2011, 06:31 PM
"Joye plans to transform low-income renters into home owners by reducing the amount of capital required to enter the market."
why not introduce slavery again? - all slaves had place to live, meals as well, and they were working less for the master than what these homeowners work for banks
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http://popping-bubble.blogspot.com/
Thinking of an Australian property speculator (PI):
Inaction = missing opportunities.
Missing opportunities = losing.
Too much thinking = inaction.
Thinking = missing opportunities.
Therefore thinking = losing.
disgraceful little man Frank Castle owes a house to Salvation Army
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raveswei
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12 Jan 2012, 02:08 PM
Post #27
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- micnugget
- 12 Jan 2012, 12:41 PM
The guy is obviously smart and driven.
obviously? really?
The only obvious thing about him is that he is obviously crazy
Being smart requires high social intelligence; and emotional one as well.
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http://popping-bubble.blogspot.com/
Thinking of an Australian property speculator (PI):
Inaction = missing opportunities.
Missing opportunities = losing.
Too much thinking = inaction.
Thinking = missing opportunities.
Therefore thinking = losing.
disgraceful little man Frank Castle owes a house to Salvation Army
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micnugget
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12 Jan 2012, 04:21 PM
Post #28
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- raveswei
- 12 Jan 2012, 02:08 PM
- micnugget
- 12 Jan 2012, 12:41 PM
The guy is obviously smart and driven.
obviously? really? The only obvious thing about him is that he is obviously crazy Being smart requires high social intelligence; and emotional one as well.
He completed his PHD in 2/3's of the time of the next fastest person.
I would suggest that anyone who finishes a PHD is smart and anyone who does it that quickly is driven.
Many autistic people have proven that you can be incredibly intelligent with next to no social or emotional intelligence.
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Catweasel
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12 Jan 2012, 04:57 PM
Post #29
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- micnugget
- 12 Jan 2012, 04:21 PM
He completed his PHD in 2/3's of the time of the next fastest person.
I would suggest that anyone who finishes a PHD is smart and anyone who does it that quickly is driven.
Many autistic people have proven that you can be incredibly intelligent with next to no social or emotional intelligence.
Catweasel say it agree. It a remarkable speed. Many the rumor say a Joye the never finish PhD before it run off to work at Vampire Squid. It a found that environment too mercenary.
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Rastus2
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12 Jan 2012, 07:38 PM
Post #30
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- Catweasel
- 12 Jan 2012, 04:57 PM
Catweasel say it agree. It a remarkable speed. Many the rumor say a Joye the never finish PhD before it run off to work at Vampire Squid. It a found that environment too mercenary.
Chis is smart,
There are lots of smart people... however some of them are not well connected thanks to mommy and daddy.
Luckily for CJ, he was also born with a silver spoon in his mouth which helps.
http://australianpropertyforum.com/topic/9335676/1/
Rubbing shoulders with the Murdoch (mom and dad's friends) probably helped give him a lot of money towards his investment... good to have rich parents with friends eh ?
Gratz to him. For a spoilt rich kid, he as made a name for himself.
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CJ - Good luck to him. It is a rare blessing to be able to do what you love and never worry about your financial future.
Edited by Rastus2, 12 Jan 2012, 07:40 PM. |
Joye did not understand the functions of the RBA,
Joye did not read the ABS tables correctly
Joyd did not predict the most major financial collapse in the world since the great depression...
Keen can and has done all of the above... but Shadow is still blind to those simple facts, and he claims ..
- Shadow
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For the most part, Chris Joye's predictions have been quite accurate - certainly a lot closer to the mark than Steve Keen.
Love is Blind :c)
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2:25 PM May 26