Online Real Estate Technology

Five days before a critical vote, US senators are abandoning an anti-piracy bill after an outpouring of online opposition to tinkering with internet freedoms.

Senate Democratic leaders still plan to vote on Tuesday on taking up the Protect International Property Act and supporters are scrambling to make changes before then to answer some of the critics, but it is questionable whether they have the 60 votes needed.

Half-a-dozen of the 40 original co-sponsors of what is known as the PIPA bill withdrew their support on Wednesday amid a one-day protest blackout by Wikipedia and other web giants and a flood of emails to Capitol Hill offices that at times doubled normal volumes.

More than 7 million signed a petition on Google saying the Senate bill and its counterpart in the House would censor the web and impose burdensome regulations on US businesses.

"The overwhelming input I’ve received from New Hampshire citizens makes it clear there are many legitimate concerns that deserve further consideration before Congress moves forward with this legislation," said Republican Senator Kelly Ayotte, one of the politicians who pulled back her support of the bill.

Others included Republicans Orrin Hatch of Utah, Marco Rubio of Florida, Chuck Grassley of Iowa, Roy Blunt of Missouri and John Boozman of Arkansas.

Nearly all cited the earful they were getting from constituents.

"I can say, with all honesty, that the feedback I received from Arkansans has been overwhelmingly in opposition to the Senate bill in its current form," Boozman said.

Several Democratic co-sponsors also now say they oppose the bill as it is written.

Democrat Senate Majority Leader Harry Reid has resisted suggestions he put off the Tuesday vote.

Reid and the bill’s main sponsor, Senate Judiciary Committee Chairman Patrick Leahy said it was too important to delay action on legislation aimed at combating the billions of dollars US content creators and companies lose to foreign copyright violators and counterfeiters every year.

Senate Republican leader Mitch McConnell of Kentucky on Thursday urged Democrats to shelve the bill for now, saying serious issues with the measure should be resolved before "prematurely" bringing it to the floor.

The Senate bill, and the parallel Stop Online Piracy Act (SOPA) in the House, would allow the Justice Department and copyright holders to seek court orders against foreign websites that steal from American content creators.

It would bar advertising networks and payment facilitators such as credit card companies from doing business with the offending websites.

The bills have the strong support of the entertainment industry which loses billions every year to foreign copyright violators and from industries such as pharmaceuticals battling fake and sometimes harmful alternatives sold on the internet.

The opposition, as demonstrated by Wednesday’s protest, is led by internet-related industries that say the bills will lead to censorship of the internet and a surge in lawsuits that will discourage budding internet entrepreneurs.

Story source: www.ninemsn.com.au

In case you missed all the news on the proposed bill to Stop On Line Piracy, or SOPA as it has become known, is a bill that was introduced into the  US house of representatives in October last year. 

The bill, if made law, would expand the ability of U.S. law enforcement and copyright holders to fight online trafficking in copyrighted intellectual property and counterfeit goods.^[2] Presented to the House Judiciary Committee, it builds on the similar PRO-IP Act of 2008 and the corresponding Senate bill, the PROTECT IP Act.

The originally proposed bill would allow the U.S. Department of Justice, as well as copyright holders, to seek court orders against websites accused of enabling or facilitating copyright infringement. Depending on who makes the request, the court order could include barring online advertising networks and payment facilitators from doing business with the allegedly infringing website, barring search engines from linking to such sites, and requiring Internet service providers to block access to such sites. The bill would make unauthorized streaming of copyrighted content a crime, with a maximum penalty of five years in prison for ten such infringements within six months. The bill also gives immunity to Internet services that voluntarily take action against websites dedicated to infringement, while making liable for damages any copyright holder who knowingly misrepresents that a website is dedicated to infringement.

In an update of this story, below is a article from the Los Angeles Times:

“Three co-sponsors of the SOPA and PIPA antipiracy bills have publicly withdrawn their support as Wikipedia and thousands of other websites blacked out their pages Wednesday to protest the legislation.

Sen. Marco Rubio (R-Fla.) withdrew as a co-sponsor of the Protect IP Act in the Senate, while Reps. Lee Terry (R-Neb.) and Ben Quayle (R-Ariz.) said they were pulling their names from the companion House bill, the Stop Online Piracy Act. Opponents of the legislation, led by large Internet companies, say its broad definitions could lead to censorship of online content and force some websites to shut down.

In a posting on his Facebook page, Rubio noted that after the Senate Judiciary Committee unanimously passed its bill last year, he has "heard legitimate concerns about the impact the bill could have on access to the Internet and about a potentially unreasonable expansion of the federal government’s power to impact the Internet."

"Congress should listen and avoid rushing through a bill that could have many unintended consequences," Rubio said in announcing he was withdrawing his support. While he’s committed to stopping online piracy, Rubio called for Senate Majority Leader Harry Reid (D-Nev.) to back off plans to hold a key procedural vote on the bill on Tuesday.

Rubio’s withdrawal will reduce the number of co-sponsors to 39. Last week, two other co-sponsors, Charles Grassley (R-Iowa) and Orrin Hatch (R-Utah), joined four other Senate Republicans in a letter to Reid also urging him delay the vote. But Grassley and Hatch have not withdrawn their support.

Terry and Quayle were among the 31 sponsors of the House legislation before they withdrew their support Tuesday.

Quayle still strongly supports the goal of the House bill to crack down on foreign websites that traffic in pirated movies, music, medicine and other goods.

"The bill could have some unintended consequences that need to be addressed," said Quayle spokesman Zach Howell. "Basically it needs more work before he can support it."

Terry said that he also had problems with the House bill in its current form and would no longer support it.

Wikipedia, Reddit and about 10,000 other websites blacked out their pages Wednesday with messages warning of the dangers of the legislation and urging people to contact their congressional representatives. Howell said Quayle’s office had not seen a major increase in calls or emails Wednesday, but that the piracy bills have been the main issue in recent weeks for people contacting the office.

There has been a "manageable increase" in visits to House member websites Wednesday, said Dan Weiser, a spokesman for the House office of the chief administrative officer.

"It’s possible some users will see a short delay or slow loading of a member’s web page," he said.”

Original story from The Los Angeles Times, http://www.latimes.com/

If you would like to read more on how this bill, if passed, would affect how you use and research on the Internet, please read this link to Wikipedia, http://en.wikipedia.org/wiki/Stop_Online_Piracy_Act.

Anything we can do to stop this bill becoming law, lets do it now, and protest what is essentially an act of total censorship.

AUSTRALIAN housing markets displayed a generally resilient performance in 2011, reflecting the inherent security of residential real estate in this country, particularly when compared with housing markets in similar open-market economies.

The year was always set to be a period of correction for Australia’s housing markets following the unsustainable growth in house prices recorded through 2009 and 2010.

Between January 2009 and June 2010, Melbourne’s quarterly median house price rose by nearly 30 per cent, with Sydney’s up by almost 20 per cent over the same period. All other capitals also recorded big rises in house prices over those 18 months.

Housing affordability crashed by the end of 2010, with surging house prices and rising interest rates combining to send buyers into hibernation.

Australian Property Monitors data has revealed that capital city housing markets have generally performed encouragingly in 2011 despite the pressure on housing affordability generated in 2010 and a mixed economic performance in 2011.

The national median price for houses over the year to October 2011 fell by just 1 per cent compared with the previous year, with median unit prices rising by 1.2 per cent over the year. The 2011 result follows a 17 per cent rise in the national median house price over the year to October 2010 and a 12.2 per cent rise in the median unit price over the same period.

The best capital city performers were Melbourne and Sydney, where annual median house prices rose by 1 per cent. Darwin and Adelaide house prices were flat and Hobart down 1.5 per cent.

The worst performers over the year were Brisbane and Perth, where annual median house prices fell by 3.5 and 4.75 per cent respectively.

The unit market clearly outperformed the housing market over the year to October 2011, with Sydney recording median unit price growth of 2 per cent followed by Melbourne and Darwin up by 1 per cent. Brisbane and Perth were again the underperformers, with annual unit prices falling by 1.3 per cent and 3.5 per cent respectively.

Bureau of Statistics data confirms the solid performance by Australian housing markets in 2011, with the number of owner-occupier housing loans rising by 2.4 per cent over the 10 months ending October compared with the same period in 2010.

New South Wales was the best performer with an increase of 8 per cent, with Western Australia surprisingly in second place with growth in home loans of 7 per cent over the year, courtesy of a surge in the past three months – indicating perhaps growing late-year momentum in that market.

By contrast, the number of home loans approved in Queensland in the year to October fell by 8.4 per cent compared with the same period in 2010.

The nature and strength of Australian housing markets in 2011 was always to be determined by the underlying supply and demand characteristics of individual markets and the strength of national and local economies.

In addition to the affordability barriers created by the prices surge and interest rate rises of 2009 and 2010, housing markets have had to encounter unexpected headwinds in 2011. The impact of the central Queensland and Brisbane floods was not restricted to the local housing markets. National economic output was affected through reduced coal exports and the cost of the reconstruction levy. Higher prices for fruit and vegetables also affected household budgets nationally.

The impact of catastrophic natural disasters on the national psyche and confidence cannot be underestimated, particularly given Australia’s recent propensity for financial conservatism, especially when it comes to buying or borrowing.

The Japanese earthquake and associated tsunami in March also contributed to lower economic growth and reduced consumer confidence.

Stalling economic growth in 2011 was also a product of continued mixed performances by various industry sectors, particularly retail, manufacturing, tourism and construction. As a consequence, all capitals recorded rises in unemployment through mid-year. All these factors combined to subdue consumer capacity and confidence and consequently dampen home buying activity through 2011.

Most Australian capital city housing markets are, however, set to record growth in median prices over 2012 as the national economy gathers strength. The Australian economy is primed to expand strongly on the back of a significant resources boom with the Organisation for Economic Cooperation and Development predicting gross domestic product will increase by 4 per cent over the year.

Melbourne, Adelaide and Hobart will be the underperformers in 2012, with median house price growth of between zero and 5 per cent.

Melbourne’s balanced housing supply and demand mix offers buyers a wide choice and it remains the most tenant-friendly capital city rental market. Affordability barriers, however, remain for home buyers.

With the Victorian economy showing signs of running out of puff, particularly as the recent construction boom abates, the housing market is set to drift sideways though 2012. The possibility remains of some growth in median house prices by the end of 2012 as the impact of a strong national economy filters through.

Dr Andrew Wilson is senior economist for Australian Property Monitors.

Source: BusinessDay

www.news.domain.com.au

Ongoing discount loans lose momentum

Borrowers’ preference for fixed rate home loans is continuing at an unrelenting pace regardless of recent cash rate cuts, national loan approval data from Mortgage Choice has revealed.

Fixed rate loans accounted for 24% of all new home loan approvals during December 2011, up from 21% in November and well above the 12-month average of 15%. Demand for this loan type has risen for seven consecutive months, increasing 13 percentage points since May 2011.

Company spokesperson Belinda Williamson said, “Consecutive cash rate cuts in November and December 2011 have not swayed Australian borrowers’ desire for fixed rate loans.”

“It is possible borrowers’ need for certainty around their home loan repayments, coupled with the affordability of fixed rate loans are the driving forces behind demand for this loan type.

“During December fixed rates were significantly lower than variable rates, in some cases the difference was one percentage point or more.

“Our loan data shows fixed rates are now more in demand than they have been in over three and a half years at the expense of variable rates, which have lost popularity among new borrowers.

“Customer demand for variable rate loans fell from 79% to 76%, well down on the 12-month average of 85%. The most popular variable rate home loan with new borrowers, ongoing discount rate loans, slipped from 44% to 41%, also well below the 12-month average of 35%.”

Basic variable loan demand rose marginally to 15% of all approvals in December, up from 14% in November while standard variable loan demand fell slightly to 16% from 17%. Interest in line of credit loans dropped to 3% from 4% and the uptake of introductory rate loans was steady at 1%.

For more information visit: www.mortgagechoice.com.au