I went travelling last year to a number of countries and stayed in an AirBnB beside UNSW. I used the gym there a couple of times and got food in the University shop. Nearly every person I saw at all times walking through the campus was Asian. It was kind of shocking and I thought maybe the young Australians just weren’t too bothered with education.
The opal tower fiasco should open a few eyes to shoddy standards of self regulations.
It has some nuggets on shoddy standards in NZ also
APRA to remove interest-only benchmark for residential mortgage lending
apra.gov.au/media-centre/me … ge-lending
and talk of quantitative easing (if needed in the future)
au.finance.yahoo.com/news/rba-m … 54486.html
Really shocking stuff - lend more to prop up an unsustainable bubble. Strongly reminiscent of 2008/09 in Ireland. Next they’ll be accusing some academic of ‘talking down the economy’!
And like Ireland the majority of voters will agree
The AUD dropped to 67cent to the US dollar temporarily overnight before regaining some of the drop. Hell of a drop. Just what would happen if they actually dropped rates and implements QE ?
Time to get some Euros? Or USD?
Australia braces for hard landing in housing market
Job losses come next
A good time to snap up a public sector job if you’re currently in real estate.
100k price reductions, free ipads and rental guarantees to try and nab some buyers!
They already have found their economist to blam talking down the economy - Steve Keen.
He, like McWilliams, was many years early.
But he, too was right and it’s going to be a mighty collapse. It’ll be interesting to see what el gov in Oz does, they’re much more invested in the bubble than even Irish governments were.