Elizabeth Quay towers defects fiasco

#ElizabethQuayTower #Defects #Construction

The luxury Elizabeth Quay Tower in Perth is plagued with defects with one $2million apartment having 200 alone. While Mark Gibson tries to make a tenuous link to Opal Tower this is more a lesson of the dangers associated with buying off the plan and residential tower developer. A premium price does not mean premium quality.

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References

Elizabeth Quay towers plagued by leaks and building defects

https://thewest.com.au/business/construction/elizabeth-quay-towers-plagued-by-leaks-and-building-defects-ng-b881200185z

Will a Rate Cut stop the Housing Crash?

#AusPol #InterestRate #Housing

The RBA is looking at cutting Australia’s Cash Rate. Will an Interest Rate cut stop the housing crash?

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References

Australian dollar headed for a fall as Reserve Bank mulls interest rates cut

https://www.abc.net.au/news/2019-05-06/why-the-aussie-dollar-is-headed-for-a-fall/11081810?pfmredir=sm

The Observatory of Economic Complexity

https://atlas.media.mit.edu/en/profile/country/aus/

6202.0 – Labour Force, Australia, Mar 2019

http://www.abs.gov.au/ausstats/abs@.nsf/0/6050C537617B613BCA25836800102753?Opendocument

Labor’s Promises to Casual Workers

#AusPol #Recession #Election2019

Bill Shorten is making promises to casual workers to provide them with a smoother pathway to permanent positions. Sounds great but might end up hurting more than helping.
I would prefer more support for small businesses or addressing the issues of labour-hire companies. Where people employed are de-facto employees of a third party, but don’t receive the security or benefits.

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https://youtu.be/mCuGDNkIr7I

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References

https://www.brisbanetimes.com.au/federal-election-2019/employers-wary-as-bill-shorten-promises-2-6m-casual-workers-the-right-to-convert-20190423-p51gi1.html?fbclid=IwAR0ASbgzo9ri3W0PKkh4ykp4WhTl6AOlrgrVq9rRqVbONyEKhBckZRxYp74

Australia’s Impending Recession

£AusPol #Recession #Election2019

Australia’s inflation rate was 0 for the last quarter and our GDP growth was only 0.2% and is trending down. It looks like Australia is heading for a recession, so why isn’t this the biggest issue of the election? Why are we worried about electric cars and political gender quotas? Will this be the only way for a generation to learn?

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References

https://www.news.com.au/finance/economy/australian-economy/huge-warning-sign-for-australian-economy/news-story/5652a90757b67a9611073937e1b6381e

5206.0 – Australian National Accounts: National Income, Expenditure and Product, Dec 2018`

http://www.abs.gov.au/ausstats/abs@.nsf/mf/5206.0

Australia’s 50% Property Crash is coming

#AusPol #ConsumerConfidence #Housing

Today we look at a New Zealand newspaper that is reporting on the impending or already begun, housing price crash in Australia. While 50% mighty sound excessive, when limited to apartments and when measures over a few years it doesn’t appear to be that outrageous.

References

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Mortgage Repayment Fears – References

#MortgageRepayments #PriceCrash #Housing

Interest only mortgages repayment periods are steadily ending with many predicted to finish by 2020. Do you think this will have an impact on the housing crash? Are people really so fullish to have not planned for this?

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References

Lenders release the Kraken: when mortgages rise by $1000 a month

https://www.news.com.au/finance/money/lenders-release-the-kraken-when-mortgages-rise-by-1000-a-month/news-story/c7445bc500e3bb7f3c3319b456639049

Comparing Australia’s Housing Crash to the World – References

#AusPol #PriceCrash #Housing

I look at a recent article from MacroBusiness comparing Australia’s housing crash to those in USA, UK, Ireland and Spain. Then I look at another perspective from Wolf Street. Is the GFC finally catching up with Australia?

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References

How Australia’s housing crash compares internationally

https://www.macrobusiness.com.au/2019/04/australias-housing-crash-compares-internationally-3/

Update on the Spreading Housing Bust in Australia, and Why it’s Happening

https://wolfstreet.com/2019/04/02/update-on-the-spreading-housing-bust-in-australia-and-why-its-happening/