MORE and more western Sydney families are falling behind on their mortgages each week. While most borrowers across the city are meeting increasing repayments and not falling into a serious financial scrape, new figures show the number of borrowers in the west falling behind on their mortgage bills has jumped …
LONDON (Reuters) – House prices fell a record 2.5 percent in May, the Nationwide Building Society says, raising fears the property market downturn could soon turn into a crash that hits the whole economy. The monthly decline, the largest since the lender started compiling records in 1991, wiped 5,000 pounds …
NEW YORK (AP) — U.S. home prices dropped at the sharpest rate in two decades during the first quarter, a closely watched index showed Tuesday. It’s a somber indication that the housing slump continues to deepen. Standard & Poor’s/Case-Shiller said its national home price index fell 14.1% in the first …
HOUSE prices in some parts of Sydney have almost halved as battling borrowers struggle to keep up with increasing interest rates. The falls – in Sydney’s west, the Hills district, and Sutherland Shire – are far steeper than previously thought, and show the devastating effects of the RBA’s rate-hiking spree. …
Now that the Bubble has popped, the Head of Real Estate Institute of Victoria is calling for incentives to help make the bubble even bigger. PROPERTY markets around Australia continued to struggle over the weekend, with auction clearance rates now below 50 per cent in the key markets of Sydney …
HOUSE prices in some parts of Sydney have almost halved as battling borrowers struggle to keep up with increasing interest rates. “It is clear that some people just paid the wrong price for a property and that happens a lot,” Mr Edwards said. “In every suburb in Sydney, there will …
THE economy is headed for a dramatic slowdown that will drive up the unemployment rate as high interest rates sap consumer confidence. Yesterday’s stark warning from the Reserve Bank appears to be backed by Treasury, with Wayne Swan confirming that Tuesday’s budget would forecast a lift in the unemployment rate. …
RAPID rent rises across Melbourne have renewed fears about housing affordability. Office of Housing figures show the metropolitan rental index shot up by 12.5% in 2007. » Homes out of reach after 12.5% rent spike – The Age, 10th May 2008
AUSTRALIAN house prices look vulnerable over the next year as rising interest rates and record levels of mortgage stress take their toll, The Australian reported today. House prices in the US are off by 15 per cent from their highs, while Britain, Europe and New Zealand are also experiencing price …
THE Reserve Bank has warned it will raise interest rates again if the economy does not slow as it expects, but has tipped unemployment will rise. » RBA warns of rise in unemployment – The Australian, 9th May 2008. » Reserve Bank keeps finger on rates trigger – ABC News, …
MANY families are spending more than half their gross household income on paying debts, credit gatherer Veda Advantage says. It found 1.3 million of us spent more than half of the gross household income on paying debts, while 1.8 million spent more than 40 per cent on debt repayments. » …
HOMEOWNERS making a final desperate grab to save their homes from repossession are raiding their superannuation at an alarming rate, new figures show. More than $175 million was released from super funds last year to help homeowners pay their mortgages. » Stressed homeowners raiding super – news.com, 8th May 2008
A VETERAN US central bank official aid today he¿s worried about a deteriorating inflationary environment, and suggested that when the Federal Reserve begins to raise rates, it could do so swiftly. Federal Reserve Bank of Kansas City president Thomas Hoenig said rising inflationary pressures are “troublesome” and a “serious” matter, …
INFLATION is rising at its fastest rate on record as petrol prices reach fresh heights, a leading private sector indicator shows. Economists say an interest rate cut by Christmas is now looking less likely, as price pressures persist. » Inflation rises at record pace – news.com, 5th May 2008
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