On Sunday, the Bank for International Settlements (BIS) released residential property price statistics for most developed countries around the world – (‘Australians struggle with world’s second largest housing bubble’). The data confirms Australia has the second most overvalued residential property market in the world, second only to Norway. The data, …
Treasurer Joe Hockey has once again demonstrated ignorance toward issues effecting everyday Australians, this time denying Australia is amidst the grips of a credit fuelled housing bubble. His comments come almost a month after he said the fuel excise increase won’t effect the poor. The out of touch Treasurer told …
Australians have enjoyed the second fastest wage growth of any developed economy over the past 13 years according to the OECD. Interest rates are now at record low levels not seen in almost 60 years. You would think the average Australian would be on easy street. But a survey from …
In an ominous sign for the global economy, the International Energy Agency (IEA) has said a sudden drop in oil demand for the second quarter of 2014 is “nothing short of remarkable.” The second quarter saw demand slow to below 0.5 million barrels per day, the lowest level in two …
Coca-Cola Amatil has this week closed a pay deal that will see wages frozen for current Victorian warehouse employees and new employees will be paid 38 percent less for carrying out the same job. A spokesperson for Coke said the deal will bring wages closer to market rates and restore …
After a fruitless attempt to talk down the high Australian dollar, Glenn Stevens has today embarked on a new project – talking down house prices. The jawboning comes after overwhelming evidence suggests Australia’s property bubble, already one of the biggest bubbles in the world, is accelerating out of control fuelled …
Grave fears are mounting for the future stability of the Australian economy as new data released today shows the Reserve Bank of Australia’s housing bubble is surging at records not seen since 2003. The RP Data statistics confirms reports of investor led irrational exuberance in the Sydney and Melbourne markets. …
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