By Ross Elliott, cross-posted from The Pulse US based urbanist Richard Florida – once described as an “intellectual Rockstar” – shot to fame with his 2002 book The Creative Class. He was on a global speaking tour that took in many Australian cities, arguing that the secrets to economic development lay in attracting legions of
The post Higher income professionals haven’t yet abandoned suburbia appeared first on MacroBusiness.
By Leith van Onselen This site has gone to great effort exposing the pitfalls of the ACT Light Rail Project. Late last year, secret NSW Government documents were released revealing that the Parramatta Light Rail Project – the centrepiece of the Government’s plans to cement Parramatta as Sydney’s second central business district, as well as
The post NSW Government tries to hide light rail white elephant appeared first on MacroBusiness.
From the latest NAB Residential Property Survey comes some welcome news: The influence of foreign buyers in Australian property markets continued to lessen according to surveyed property professionals, suggesting that tighter conditions imposed on foreign buyers is still having an impact. In Q3, foreign buyers accounted for 10.2% of all new property purchases (10.4% in
The post Foreign buyers abandon Aussie property appeared first on MacroBusiness.
Ebrahim Rahbari, Citi’s head of global macroeconomics: The day you finally have enough housing in Sydney is the day I wouldn’t want to be caught with a big mortgage. I think there is a real danger when certain developments have gone on for a long time, and in Australia in particular the combination of high
The post Citi: Aussie housing bubble to hit trouble in 2019 appeared first on MacroBusiness.
Via S&P: The number of delinquent housing loans underlying Australian prime residential mortgage-backed securities (RMBS) fell to 1.10% in August from 1.17% in July, according to a recent report by S&P Global Ratings. The decline, which is not unusual because arrears typically have fallen in August for the past 10 years, was partly influenced by
The post Mortgage arrears fall in cities, boom in regions appeared first on MacroBusiness.
From BHP’s first QTR update: Iron ore – Total iron ore production for the September 2017 quarter decreased by three per cent to 56 Mt, or 64 Mt on a 100 per cent basis. Guidance for the 2018 financial year remains unchanged at between 239 and 243 Mt, or between 275 and 280 Mt on
The post BHP moves past iron ore bottlenecks appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Via Westpac: • The six month annualised growth rate in the WestpacMelbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, slipped from –0.16% in August –0.21% in September. The growth rate remains negative pointing to below trend momentum and a sharp turnaround
The post Australian leading index slip slides away… appeared first on MacroBusiness.
Via Bloomie: Canada’s banking regulator released final rules that will make it tougher for borrowers to take on uninsured mortgages, adding to a growing list of measures to rein in the nation’s housing markets. The Office of the Superintendent of Financial Institutions announced measures targeting borrowers in the uninsured segment of the mortgage market that has been responsible for
The post Canadian housing entering “severe correction” appeared first on MacroBusiness.
Work for Goldman Sachs. Become PM. Do nothing about house prices. Ramp immigration. Sell your mansion to a Chinese investor. Then join the bank: ANZ has appointed former New Zealand Prime Minister John Key as chairman of ANZ New Zealand. He will succeed John Judge as chairman as he retires from the board of directors in January,
The post Former NZ PM becomes banker appeared first on MacroBusiness.
Quite rightly: “What’s very clear is that the government is scrambling. We have policy on the run. We have an energy policy being put together with strings and bandaids,” shadow treasurer Chris Bowen said Tuesday morning. “What is very clear and has been publicly confirmed by the Energy Security Board, is that this policy that
The post Labor to take it time on NEG appeared first on MacroBusiness.