According to Canstar modelling reported this week, about a quarter of all borrowers are paying 6.5% or more on their variable rate loans, which is significantly higher than the lowest loan rate. The inability of these mortgage holders to shop around for a better offer will result in thousands of dollars in additional yearly mortgage
PropTrack has released its home values results for March, which shows that values nationally rose by 0.13% in March – their third consecutive monthly increase – to be up 0.49% in 2023: The next chart plots annual price growth across the major capital cities, with Sydney (-6.0%) and Melbourne (-5.8%) leading the annual decline: Prices
Global macro / Markets / Investing: Roughly two-thirds of jobs in the US and Europe are exposed to some degree of AI automation – FT 10 Companies Founded in a Recession – Altoira Investing ‘It’s honestly changed my life’: Employees from one of the biggest 4-day-workweek trials say working less improved their lives but was
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The post Macro Afternoon: 31 March 2023 appeared first on MacroBusiness.
Below is an article I wrote for News.com.au: Against the odds, Australian house prices are rising in the face of ongoing interest rate rises. PropTrack’s dwelling values index recorded a 0.2 per cent rise in February, which followed January’s 0.1 per cent increase. Based on the rebound in auction clearance rates this month, prices will
Recently in Washington, Joe Biden exercised his presidential veto powers for the first time on a bill that would have banned federal pension fund managers from considering ESG issues for investment and shareholder rights decisions. The Republicans want to stop what they’re calling ‘woke¹ liberal’ practices by their customary friends in Wall Street and Corporate
For years immigration shills have argued that Australia must run a “strong” migration program in order to counteract an ageing population. Their standard line of argument is that migrants typically are younger than the local populace. Consequently, importing people through immigration always reduces the population’s average age, resolving the “problem” of population ageing. Anyone with
Economist Warren Hogan has warned the decline in housing approvals alongside the flood of migrants will have a “brutal” impact on the rental markets in Sydney and Melbourne, and will see an increase in homelessness. “If it is not in a crisis yet, this surge of migration will absolutely push the rental market in Sydney
Honestly, I have no idea where this is going to end: Trump was indicted by a Manhattan grand jury, prosecutors and defence lawyers after an investigation into payments made during his 2016 presidential campaign to silence claims of an extramarital sexual encounter. The indictment itself remains sealed for now in the first criminal case ever
As usual, business groups are lobbying the Fair Work Commission hard to ensure the minimum wage rises by far less than inflation. The Australian Chamber of Commerce and Industry (ACCI) has asked for a 3.5% minimum wage increase, or 75c an hour, to $841.04 a week. That would be less than half the December quarter