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CoreLogic weekly Australian house price update: Surging

August 23, 2019 - 00:10 -- Admin

In the week ended 22 August 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, jumped another 0.22%: The rise in values was driven by Sydney and Melbourne: So far in August, dwelling values have risen by 0.54%, driven by Sydney and Melbourne where prices are rising strongly:

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“Tiny home” closures push thousands into homelessness

August 23, 2019 - 00:09 -- Admin

Earlier this month, Australia’s mainstream media was awash with articles touting “tiny homes” as a solution to the nation’s growing homeless epidemic. For example, SBS News reported the following: A new Melbourne-based project is aiming to break the cycle of chronic homelessness by using otherwise vacant government land to build “tiny homes”. Independent community agency

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International students should ignore bogus university rankings

August 23, 2019 - 00:08 -- Admin

The Academic Rankings of World Universities was released last week, which placed a record seven Australian universities within the world’s top 100: The ranking, produced by the China-based Shanghai­Ranking Consultancy, is regarded by most top universities as the most ­prestigious of the international rankings because it measures only excellence in research — mainly in the

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Links 23 August 2019

August 23, 2019 - 00:01 -- Admin

Global Macro / Markets / Investing: World Bank Raises $33 Million Selling Ethereum-Based Blockchain Bonds – Be In Crypto Market top? Homemade mystery boxes are popping up on Etsy and eBay – VOX 3 Key Facts About Centralized Cryptocurrency – Medium Recession risks overblown? Money market funds’ AUM pass 2009 high – Bloomberg Americas: At

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Macro Afternoon

August 22, 2019 - 17:00 -- Admin

Stock markets in Asia are oscillating between small losses and tiny gains, with traders looking to the Fed again as it holds it symposium tonight in Wyoming. Chinese stocks are quite mixed with the Shanghai Composite again hovering on another scratch session going into the close, up three points to 2883 while the Hang Seng Index is the

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Jericho: Trump “ignorant” for fighting world’s greatest tyranny

August 22, 2019 - 14:00 -- Admin

From Beijing’s useful idiot Greg Jericho today: On Tuesday Trump suggested that “I am doing this whether it’s good or bad for your statement about, ‘Oh, will we fall into a recession for two months?’ The fact is, somebody had to take China on. Whether it’s good for our country or bad for our country, short term, it

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Property vendor discounting stabilises

August 22, 2019 - 13:45 -- Admin

Via CoreLogic: The vendor discount metric measures, for properties that sell below the initial list price, the difference between the original list price and the ultimate sale price. The metric is calculated as a median across a rolling 3 months of data. Within the past 3 months, housing conditions have started to stabilise but there

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UK wages rocket as cheap foreign labour exits labour market

August 22, 2019 - 13:30 -- Admin

No, really? Yes, really, via Reuters: Major British employers gave average pay rises of 2.6% to staff in the three months to July, the highest pace of increase in more than 10 years, data from industry consultants XpertHR showed on Thursday. Annual pay settlements in Britain began to rise roughly a year ago as the

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Actuaries Institute declares war on young

August 22, 2019 - 13:15 -- Admin

The Actuaries Institute has published a discussion paper examining a range of options for overhauling Australia’s retirement income system, which includes as its central recommendation including the family home in the pension assets test, but conveniently not for the baby boomer generation. From The Australian: Actuarial expert David Knox, former regulator Anthony Asher and public

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CBA: Commodity bust to drive MOAR RBA cuts

August 22, 2019 - 13:00 -- Admin

From the excellent Gareth Aird at CBA: Overview Output growth in Australia has been soft over the past year.  The latest national accounts put real GDP growth at just 1.8% over the year to Q1 2019.  But over that same period, total national income growth has been decent.  Indeed nominal GDP, the broadest measure of

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