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Articles from MacroBusiness

Even Bloxo says its a bubble

June 10, 2015 - 10:04 -- Admin

From bubble nay-sayer, Bloxo comes more Bozo Joe bashing: Nation-wide housing prices are up 24% over the past three years, but these gains have been uneven across the country  Sydney housing prices have risen 39%, Melbourne by 22% and prices in the rest of the country are only up 10%  We have few concerns about

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Citi: APRA set to tighten mortgage risk weights

June 10, 2015 - 09:54 -- Admin

From Citi: The recent speech from APRA Chairman, Wayne Byers has provided the best indication yet that the much anticipated changes to IRB mortgage risk weights for Australian major banks are imminent. With NAB recently deciding to undertake a large capital raising, partly in anticipation for these risk weights changes, investors are questioning whether the

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Labor responds with housing demand and supply discussion

June 10, 2015 - 09:34 -- Admin

By Leith van Onselen Labor’s Finance Spokesman, Tony Burke, appeared on ABC Radio a short time ago to discuss Treasurer Joe Hockey’s comments on housing affordability and outline Labor’s policy: “We’ve simply said we need to have a discussion on the issue of housing affordability… We have a discussion paper that submissions have closed on

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Macro Morning (bear market)

June 10, 2015 - 09:26 -- Admin

By Chris Becker The Greek debt impasse remains stuck as the writing is on the wall for US stocks to continue their slide out of a secular bull market and into – at best – a sideways dance in the Northern Hemisphere summer as almost all are betting the Fed will raise rates in a

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Hockey pops own bubble, repeats NG lies

June 10, 2015 - 08:54 -- Admin

Fresh from the ABC: Mr Hockey was on the defensive today. “Let’s not play the man, let’s actually deal with the policy,” he told the ABC’s AM program. “Housing is very expensive and I understand that. Look, I totally understand that. “When you’re committing so much of your wage to your mortgage, it’s a big

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Forget Hockey, it’s Howard’s bubble

June 10, 2015 - 08:49 -- Admin

By Leith van Onselen More Liberal Party bubble supporters are on the hustings today: Federal Liberal MP Craig Laundy has backed Treasurer Joe Hockey, saying he believes Sydney’s housing market is pricey but affordable. Mr Hockey’s political opponents have labelled him “out of touch” after he dismissed suggestions that Sydney property was unaffordable and advised

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Tony and Joe’s suicide by housing

June 10, 2015 - 05:27 -- Admin

At various times and in various venues I have watched on as different social interest groups have laid claim to the contemporary high moral ground of Australian victimhood. At a dinner party I once attended, a Jewish gentleman held forth that the defining identity conflict in Australian history was anti-semitism despite it being marginal at best.

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Triguboffonomic panic 4.0

June 10, 2015 - 05:26 -- Admin

From the soon to retirement Robert Gottliebsen at Dad’s Army: So what would happen in Australia if there were a 20 per cent fall in dwelling prices, led by Sydney and Melbourne? …When this has happened previously (e.g. Melbourne in the early 1990s), it slashed consumer confidence and retail sales and boosted unemployment…One of the hardest hit

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Gerard Minack outlines Oz recession risk

June 10, 2015 - 04:39 -- Admin

By Leith van Onselen If you get a spare 12 minutes today, make sure you watch the above excellent interview from ABC’s The Business with former Morgan Stanley chief economist, Gerard Minack, outlining Australia’s recession risks. Like MB, Minack does not believe a recession is likely this year, but believes the risk of recession is

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Is the dwelling construction cycle peaking?

June 10, 2015 - 04:35 -- Admin

By Leith van Onselen Yesterday’s housing finance data for April registered a much needed rebound in buyer demand for newly constructed dwellings following a period of weakness, with the number of commitments for construction and new dwellings rising a combined 3.5% in April and by 1.4% over the year (see next chart). The boom in

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