Concerns are mounting that Australia’s big banks are disregarding risk and may not be capitalised enough to withstand a conceivable property correction. Today, the Australian Financial Review reported Sydney home prices are growing five-times faster than wages. Such rapid increases in property prices over one’s ability to service the mortgage …
Reserve Bank Governor Glenn Stevens told a New York audience there is too much focus on the ‘exuberant’ Sydney property bubble. Addressing The American Australian Association luncheon, Stevens said: “Then there are dwelling prices, which, at a national level, have already risen considerably from their previous lows, at a time …
The last instalment of the ABC’s property bubble special aired tonight, focused on the “biggest headache in decades” for regulators trying to breath life into the economy, while the housing bubble accelerates on cheap credit. You can watch tonight’s segment here – Getting hammered by overheated housing In recent months, …
The ABC has tonight delivered its second instalment on Australia’s housing bubble, the brewing banking crisis and tomorrow night – what the regulators are doing to try to limit the catastrophic damage. You can watch tonight’s segment here – Is 1.6 trillion dollars in housing loans too hot too handle? …
Plunging prices for Australia’s largest export, iron ore, has forced Atlas Iron to announce on Friday, it was suspending operations and shutting down production over the next couple of weeks. The announcement will see the loss of 500 jobs at its Pilbara mines and another 75 redundancies at its head …
This week, the ABC’s The Business will air three special reports on “Property, banking and how the government and regulators are handling bubble risk.” Tonight’s special report can be watched online at Plenty of froth over housing, but is it a bubble?. Lindsay David, author of Australia Boom to Bust …
Today’s decision by the Reserve Bank of Australia (RBA) to leave interest rates unchanged is likely to indicate APRA’s crackdown on the banks (‘APRA to keep banking crackdown secret‘) has not been fully executed. Without these crucial measures in place, the central bank can’t take the risk of further fueling …
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