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Australia’s housing market crushed by population deluge

March 22, 2024 - 13:30 -- Admin

Sharri Markson of Sky News interviewed me Thursday night about the latest population statistics from the Australian Bureau of Statistics, which broke records in all major jurisdictions. Below are highlights from the interview. Sharri Markson: New figures show that immigration numbers for the year to September have soared to nearly 550,000 people, more than twice

Bank of Mum and Dad “tapped out”

March 22, 2024 - 11:00 -- Admin

New data from Jarden economists estimates that around 15% of all Australian borrowers received help from the Bank of Mum and Dad, with many unable to buy a home without parental financial support. Real estate agency BresicWhitney also claimed that lending was no longer only for entry-level homes but also for family homes. “You will

Endless waste drives Victoria deeper into debt

March 22, 2024 - 10:00 -- Admin

Victoria is easily the nation’s most indebted state and also has the lowest credit rating. Its prognosis is also the poorest of Australia’s states, with Victoria’s debt projected to balloon to $247.2 billion by 2027, compared with just $55.2 billion in 2019: Victoria’s ballooning budget deficit is built on waste. Victoria’s “Big Build” infrastructure projects

The labour market is loose as a goose

March 22, 2024 - 09:57 -- Admin

Every so often, ABS numberwang offers rent-seekers oxygen for their lies. It generally comes with a defensive howl and chart crime. The AFR is the master: While the jobs market has softened since last year, it remains very tight by historical standards and a record 14.2 million people had jobs in February. Strong hiring conditions

Rental market swamped by 766,000 migrant arrivals

March 22, 2024 - 09:30 -- Admin

I reported yesterday that Australia’s net overseas migration hit an all-time high 549,000 in the year to September, comprising a record high 83% of Australia’s population growth: Even in growth rate terms, Australia’s population growth rate of 2.5% was the fastest since 1952: Alex Joiner, chief economist at IFM Investors, published terrific charts on Twitter

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