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Articles from MacroBusiness

HIA: Housing supply falling, bring in more migrants!

April 11, 2019 - 11:45 -- Admin

By Leith van Onselen From The Housing Industry Association (HIA) comes another huge dose of hypocrisy (my emphasis): “Home ownership remains one of the most important aspiration for all Australians. It is critical that an incoming federal government recognises that many Australians move into home ownership through the private rental market,” said HIA Managing Director,

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Scummo’s Five Point Plan to destroy Australia

April 11, 2019 - 11:36 -- Admin

From Scummo today: Our plan will build our economy, without increasing taxes, securing the future for all Australians. #BuildingOurEconomy pic.twitter.com/Ao8p6WPeDb — Scott Morrison (@ScottMorrisonMP) 10 April 2019 Scummo Point 1: 1.25m jobs over five years The Truth: Jobs growth of 1.25 million over five years implies weak monthly jobs growth of only 20,800 with 13,416

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Final auction clearances still stuck in gutter

April 11, 2019 - 11:30 -- Admin

By Leith van Onselen Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results: Today, CoreLogic has released its final auction results, which reported a 4.6% decline in the final national auction clearance rate to 52.6% – slightly above last week’s final clearance rate of 52.6%: As you can see, Sydney’s final

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Why the international student boom won’t last

April 11, 2019 - 11:15 -- Admin

By Leith van Onselen The massive boom in international students, which has risen by around 200,000 over the past five years: Has driven a chronic shortage of student accommodation across the major capitals, according to Savills’ Q1 report into student accommodation. From The AFR: At the beginning of 2019, there were 87,000 student accommodation beds

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Coalition of corruption strikes again

April 11, 2019 - 11:00 -- Admin

More Coalition corruption today alas, via Domain: New emails have emerged that contradict a statement given by Liberal Party fundraising chief Andrew Burnes to the Australian Stock Exchange about a controversial meeting between his company, Helloworld, and his friend and major shareholder, the Australian ambassador to the United States, Joe Hockey. The emails show that

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Greg Medcraft’s “absolute rubbish”

April 11, 2019 - 10:45 -- Admin

Via the AFR: The former corporate regulator Greg Medcraft has broken his silence on the Hayne royal commission, warning that using the courts against the banks could backfire given justice moves so slowl. He also described the recommendation to kill broker commissions as “absolute rubbish” because it overlooked the crucial role competition plays curbing misconduct.

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Desperate developers rain “massive” incentives to clear stock

April 11, 2019 - 10:30 -- Admin

By Leith van Onselen As stalled developments spread over the east coast amid the surge in completions: Desperate developers are throwing incentives at buyers: Free mortgage payments are among the latest incentives on offer as developers try to lock in buyers in Sydney’s cooling market. In addition to the stamp duty rebates, rental guarantees, frequent flyer

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Chris Bowen wrongly blames states for poor housing affordability

April 11, 2019 - 10:15 -- Admin

By Leith van Onselen Labor’s shadow treasurer, Chris Bowen, has showed that he is not serious about housing affordability, effectively blaming the states. From News.com.au: Labor today is warning its controversial proposal for a negative gearing overhaul will not make housing more affordable… Chris Bowen today made clear the main purpose would be as a

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The escalating cost of Australian infrastructure projects

April 11, 2019 - 10:00 -- Admin

By Leith van Onselen In already built-out cities like Sydney and Melbourne, the cost of retrofitting new infrastructure to accommodate greater population densities is prohibitively expensive because of the need for land buy-backs, tunnelling, as well as disruptions to existing infrastructure. These are what economists call ‘dis-economies of scale’. The Productivity Commission (PC) has been

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