After recording the highest net overseas migration (NOM) in Australia’s history in the 2022-23 financial year, the Australian Bureau of Statistics (ABS) released net permanent and long-term arrivals data for December, which suggests NOM hit new highs in Q4. 57,210 net long-term arrivals landed in Australia in Q4 2023, up from 39,000 in Q4 2022:
In the wake of the NSW Productivity Commission’s report warning that young productive families are being driven out of Sydney by high housing costs, Premier Chris Minns has called for a post-war home building boom to alleviate Sydney’s housing crisis: Planning Minister Paul Scully told a conference of property industry leaders that the state had
Australia’s YIMBY movement argues that if policymakers simply upzoned suburbs, thereby permitting high-density apartment developments everywhere, then the nation’s housing affordability crisis would magically resolve. Yet a study of the actual evidence shows that Australia has had one of the highest rates of housing construction in the developed world: Australia also has one of the
I’m not sure what is wrong with local economists, but the consensus notion that the RBA will cut the cash rate later and more slowly than the US Fed is laughably wrong. Rather than blather about it again, here are some charts from Gareth Aird’s excellent team at CBA (now the pre-eminent economic forecasting shop
The Market Ear does both. First, bubble. 3rd spot secured The day after surpassing the market value of Amazon, the chip giant has now overtaken Alphabet as well. Bloomberg NVDA coming for the number 1 spot 1. NVDA would need to hit ~$1,150 to surpass Apple in market cap. 2. It would need to hit
While the UK and Japan slip into recession its full steam ahead on Wall Street with a lower USD providing relief. Stocks in Europe rose as well with the latest retail sales data coming in softer than expected in the US alongside lower GDP estimates. The USD fell back to its start of week position
How do we survive as a nation with an iMSM that is so suicidally dumb? Origin Energy boss Frank Calabria says the energy giant’s only power station in Victoria, a gas-fired peaking plant, is running at full capacity to help stabilise the grid as thousands of the company’s customers remain without power. “We have a
We have raised a generation of hate haters. This is not healthy. Feeling intense dislike for something worthy of intense dislike is essential to the human condition and, more importantly, healthy living. Living without hate is living without love. One cannot be cut off, and the other be intact. Take, for example, my hatred of
Markets and economists have a tendency to look backwards and on the bright side. This is usually a good idea. An economy is not an easy thing to knock off course. But sometimes it happens. Today is one of those times. The RBA hiked in November and the economy hit a brick wall in both
Thursday’s labour force release for January from the Australian Bureau of Statistics (ABS) has cast doubt on the Reserve Bank of Australia’s (RBA) latest forecast that the nation’s unemployment rate would end 2024 at 4.3%. To recap, Australia’s unemployment rate rose to 4.1% in January with only 5000 jobs created over the month. The bigger