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Australia’s Big Banks Raise Mortgage Rates, Sparking Housing Market Fears
Australia’s Big Banks Raise Mortgage Rates, Sparking Housing Market Fears For decades, the housing market in Australia – which has not seen a recession in 27 years – appeared immune to any external or internal shocks, as prices kept rising gingerly year after year. That all changed in the past year, when according to Core […]
Mortgage Prisoners Totally Screwed in Australia as Refinance Rejections Soar
Mortgage Prisoners Totally Screwed in Australia as Refinance Rejections Soar Australia is flooded with “too good to be true” refinance offers. Rejections up 349% since April, 1426% from December. Looking to refinance your Australian property you wish you didn’t buy? Not to worry, I can help is the message banks are sending. Oops, strike that. […]
So Bloody Predictable: Sydney Ground Zero in Interest-Only Mortgage Implosion
So Bloody Predictable: Sydney Ground Zero in Interest-Only Mortgage Implosion Australia’s housing boom is over. A recession is not far away. It’s “all so bloody predictable” says Australia Macro Business as Western Sydney Ground Zero in Interest-Only Mortgage Bust. Selling agents are starting to reveal the truth behind recent listings in Sydney’s west with Belle […]
Why Are ATMs Disappearing at an Alarming Rate after a Wave of Branch Closures?
Why Are ATMs Disappearing at an Alarming Rate after a Wave of Branch Closures? Banks are curtailing “cash services.” But why? In Australia, banks are reducing ATMs by about 8% a year. In the UK, ATMs — or cashpoint machines, as they’re termed locally — are disappearing at a rate of around 300 per month, […]
Chart Of The Day: Australia’s Record Household Debt Is A Ticking Time Bomb
Chart Of The Day: Australia’s Record Household Debt Is A Ticking Time Bomb The Australian household debt to income ratio has ballooned to shocking levels over the past three decades as Sydney is ranked as one of the most overvalued cities in the world. According to the Daily Mail Australia, credit card bills, home mortgages, and personal […]
The Lasting Condition: Drought in Australia
The Lasting Condition: Drought in Australia Humans are a funny species. They create settlements along fault lines that, on moving, can create catastrophe, killing thousands. They construct homes facing rivers that will, at some point, break their banks, carrying of their precious property. Importantly, they return in the aftermath. Existence continues. The same follows certain […]
A Housing Bubble Pops: Update on Australia
A Housing Bubble Pops: Update on Australia It is rare that a housing market makes such a beautifully defined U-turn, after a long hard surge. In Sydney, Australia’s largest housing market and one of the world’s biggest housing bubbles, prices of homes of all types fell 5.4% in July compared to a year ago, and […]
The greedy little nation that sold its soul for house prices
The greedy little nation that sold its soul for house prices There was a time when Australia’s housing bubble was not much more than a curiosity. Contained mostly to Sydney it seemed it would pass with a little pop and be forgotten. Then there was a time when the bubble went national. And suddenly the […]
Sydney go on your rooftops and save power for 3 million new immigrants
Sydney go on your rooftops and save power for 3 million new immigrants The latest report “Integrated System Plan” of the Australian Energy Market Operator (AEMO) assumes that power consumption on Australia’s East Coast will stay rather flat despite government engineered immigration resulting in a population growth of 1.5% pa. This implies a call on […]
Farmers Battle WORST Drought In 100 Years: ‘It’s Dire!’
Farmers Battle WORST Drought In 100 Years: ‘It’s Dire!’ Farmers are saying the situation they’ve been presented with is “dire.” As they battle the worst drought they’ve faced in 100 years, farming families in central-western New South Wales in Australia are facing ruin. According to The Guardian, the farmers in the affected region of central […]
Why a US-Style Housing Bust & Mortgage Crisis Can Happen in Canada, Australia, and Other Bubble Markets
Why a US-Style Housing Bust & Mortgage Crisis Can Happen in Canada, Australia, and Other Bubble Markets Despite persistent and false memes to the contrary. When a housing downturn gets big enough, there will be a mortgage crisis, and it will hit banks, shadow banks, and mortgage insurers no matter what the mortgage laws are: […]
Australia Looks To Tackle Its Looming Gas Shortage
Australia Looks To Tackle Its Looming Gas Shortage In a strange about-face for the world’s soon to be top liquified natural gas (LNG) exporter, Australia is now considering importing the fuel. On Monday, ExxonMobil, Australia’s top gas supplier, said it is considering importing the super-cooled fuel to help offset an anticipated gas shortage from 2021 […]
City Officials Struggle To Fend Off “Unstoppable Juggernaut” Of Chinese Homebuyers
City Officials Struggle To Fend Off “Unstoppable Juggernaut” Of Chinese Homebuyers As we’ve pointed out time and time again, foreign – mainly Chinese – buyers seeking to park their ill-gotten gains beyond the reach of the Communist Party have – in addition to global capitals like New York City and London – favored a handful […]
How Chinese Investors Inflate Housing Markets in the US, Canada, and Australia, as Governments Try to Stem the Tide
How Chinese Investors Inflate Housing Markets in the US, Canada, and Australia, as Governments Try to Stem the Tide The “waterbed effect” of money flows. Top residential real estate brokerages in the US have been promoting US homes to investors in China for years. Brokerage firms in Canada, Australia, New Zealand, and other countries have […]
