By Leith van Onselen I noted last month how Melbourne was threatening a re-run of the 1890s land bubble and bust. This came after Melbourne’s median lot price per square metre had surged a whopping 29.3% in the year to March, with the typical median Melbourne lot value surging to $359,000, and the price of
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By Chris Becker The rout is on with European stocks pummeled overnight, dragging US bourses down with them as trade war contagion and emerging markets enter what looks like a bear market. The USD maintained its strength, despite a small respite in Euro selling and the Turkish Lira which is very slowly recovering from its
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Lot’s of righteous and correct condemnation of Frazer Anning in the MSM today. His comments were pure poison and deserve the serve. Jess Irvine is out front: Anning’s policy wish list includes: abolishing 457 visas (which “simply steal jobs”); restricting family reunion visas to spouses and dependent children; “drastically reducing” student visa numbers and requiring
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DXY was stable overnight. CNY is still falling. EUR was OK: AUD sank to new lows but rallied to unchanged against DMs: It was stronger than EMs: Gold was pounded: Oil too: Base metals capitulated: Big miners too: EM stocks were pulverised: And the leading indicator of EM junk sees more to come: Treasuries were
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It’s like trying draw blood from a stone. Some charts from Westpac on the wage price index: Anyone looking at that little lot and seeing ANY chance of reaching RBA and Treasury goals needs to take the red pill. We’ve chronicled many times why it’s happening: terms of trade falls which although paused are still
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By Leith van Onselen Yesterday’s wages price index released by the ABS revealed a softening of annual wages growth to just 2.1%: When adjusted for underlying inflation, real wages increased by a measly 0.2% in the year to June: However, there is a big disconnect between the private and public sectors. The private sector –
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By Leith van Onselen Around this time last year, it was reported that Melbourne’s water storages could dry-up as the combination of climate change meets rapid immigration-fuelled population growth: Melbourne could begin to experience chronic water shortages within about a decade, even if the desalination plant is cranked up to its full capacity, as climate
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Via Kouk: Get ready for a February budget An early budget is the likely scenario given the Federal election is set to be held in May 2019. The budget, which in modern times is usually delivered by the government on the second Tuesday in May, cannot be handed down during the election campaign which will
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By Leith van Onselen It seems Australia’s housing spruikers are growing tired of waiting for Brisbane’s housing boom. From Mortgage Parasite Magazine Australia: Brisbane is no longer the leading property investment choice as it used to be, according to property market research firm Propertyology. The latest market data shows that despite being the top choice
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By Leith van Onselen The June quarter rental data from the ABS painted a sorry picture for Australia’s army of negatively geared landlords (but an improving picture for renters). According to the ABS, rents nationally registered zero growth in the June quarter and grew by just 0.6% over the year: And when adjusted for inflation,
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