There wasn’t much economic data or other events to shake up Asian equities today as US politics continued to dominate risk taking, with Wall Street experiencing a buy the dip rally overnight, some of what spilled over locally but without a lot of confidence. The USD remains mixed against the majors as Yen appreciates while
Australians have experienced one of the sharpest rises in mortgage rates in the developed world: Australians have also experienced the largest rise in debt servicing costs in the developed world: The reason for Australia’s sharper rise in mortgage costs is that we have one of the highest concentrations of variable rate mortgages in the world.
The thought of lighting a dart makes me nauseous. My mother was a heavy smoker, and the continual smell of smoke is one of my most unpleasant childhood recollections. She quit smoking 12 years ago, but the ensuing emphysema has significantly reduced her standard of living. Despite that, I was never in favour of taxing
If only: Greens housing spokesman Max Chandler-Mather has made clear the minor party’s policies are aimed at achieving a real decline in housing values over time to ensure the next generation has a better chance of buying a home …The Greens have proposed a major overhaul to phase out negative gearing and abolish the capital
Goldman with the note. President Joe Biden exited the 2024 presidential race today (July21) and endorsed Vice President Kamala Harris. Harris’ prediction market-implied odds of winning the Democratic nomination stood at 80% following the news. Democrats’ odds of winning the White House ticked up slightly, while House and Senate control odds were little changed. The
A fortnight ago, SQM Research managing director Louis Christopher warned that Melbourne faced “housing price falls… driven by the further deterioration in auction clearance rates over very recent weeks”. Over the weekend, CoreLogic recorded the lowest preliminary clearance rate since the week ending 9 June, with only 66.9% of auctions clearing based on preliminary results.
Alas, this was so predictable: Resources Minister Madeleine King warned that Greens leader Adam Bandt’s plan to demand legislation in a minority parliament restricting LNG export contracts would destabilise international relations and trash Australia’s global reputation. “It’s somewhat ironic that in proposing to tear up Australia’s long-term export contracts, the Greens political party proposes to
The Economist has published another immigration propaganda article warning of dire economic consequences if rich nations dial back on record immigration. The article notes that “in the past three years 15 million people have moved to rich countries, the biggest surge in modern history (see chart 1)”. The Economist then claims that “some anti-immigration measures…
PropTrack has released its rental market report for the June quarter, which showed persistently strong demand for rentals amid limited supply. National advertised rents were unchanged over the June 2024 quarter, remaining at $600 per week: Over the 12 months to June 2024, national advertised rents increased by 9.1%, or an additional $50 per week.
The Third Plenum is a bust so far for stimulus: China’s ruling Communist Party pledged to accelerate a new housing model that emphasizes renting and ramps up affordable homes, following a record property slump. The party’s Central Committee said the new model will promote both renting and buying, in line with its call made since 2017, according