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Oz Blog News Commentary
The Tally Room Tuesday, May 24, 2022 - 17:34 Source

One of the trends I’ve started hearing about over the last day or two, thanks to the very smart commenters on this blog, is that booth swings in a bunch of suburban seats in Sydney and Melbourne were particularly strong in the areas with a large population of Chinese-Australian voters. So I thought I would try and visualise this effect, or see if it was just anecdote.

We know Labor did well in seats with a large Chinese-Australian population in Sydney and Melbourne, such as Reid, Bennelong and Chisholm. Even in Menzies the race was surprisingly close.

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MacroBusiness Tuesday, May 24, 2022 - 14:30 Source

According to the Real Estate Institute of New Zealand (REINZ), New Zealand house prices have fallen around 5% since November 2021, led by Auckland where prices are down 10%. Westpac has also forecast a peak-to-trough decline in New Zealand home values of 15%, which would equate to a 25% real fall once inflation is taken

The post Losses “snowball” across New Zealand’s housing market appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 24, 2022 - 14:00 Source

CoreLogic’s latest housing affordability report showed that the proportion of household income required to meet rental costs has surged over the pandemic, led by Australia’s regions: Another report from CoreLogic, released yesterday, showed that unit vacancy rates are plummeting, in part due to “increased rental demand thanks to the return of overseas migration”: Rent values

The post Australia headed for rental market calamity appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 24, 2022 - 13:30 Source

The competitive threat from mobile broadband is an ever present problem for Australia’s National Broadband Network (NBN). Telstra, TPG and Optus have each rolled out relatively cheap, fast Fixed Wireless Access 5G broadband, which can deliver significantly higher data transfer speeds and lower latency. 5G is already stealing market share from New Zealand’s far superior NBN-equivalent

The post NBN enters ‘death spiral’ phase appeared first on MacroBusiness.

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Your Democracy Tuesday, May 24, 2022 - 13:24 Source

Sanctions imposed on Moscow are the real cause of a looming global food crisis, not Russia’s actions, Kremlin spokesman Dmitry Peskov told journalists on Monday. 

He said that Russian President Vladimir Putin agreed with UN Secretary General Antonio Guterres’ opinion that there was a risk of global hunger. 

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Your Democracy Tuesday, May 24, 2022 - 13:06 Source

Sky News host Andrew Bolt says the Liberal Party need to reinvent themselves into “the party of the battlers” and “common sense”.

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MacroBusiness Tuesday, May 24, 2022 - 13:00 Source

Labor’s federal election win boosted the share prices of companies with exposure to the child-care, with Labor pledging an additional $5.4 billion to the sector that will raise subsidies as high as 90%. Childcare comparison company Kindi­Care has estimated that the average family will save an extra $212 a week when Labor’s promised more generous

The post Childcare providers hit pay dirt with Labor election win appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 24, 2022 - 12:30 Source

Innes Willox – chair of the Migration Council of Australia and CEO of the Australian Industry Group – claims that allowing wages to rise in line with inflation is the number one threat to the economy: Innes Willox on Monday said businesses were under pressure from unions pushing across-the-board wage rises at “an unsustainable level

The post Business lobby scaremongers on wage inflation appeared first on MacroBusiness.

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