The UK just announced an 80% hike in average energy bill to households, with a further rise expected in January. This is putting millions of people under financial pressure, and unable to eat and heat themselves through the winter.
Worth reflecting on the cause – the hike in gas prices, and the fact that we in Australia are exposed on those same rises in international gas prices. So prepare for more and significant rises here too. Go to the Walk The World Universe at https://walktheworld.com.au/
Is the US in recession or not? Well the “official figures” are unsure, and despite the inverted yield curve (2-10) you can still argue there is no recession, which gives latitude to the Fed to hike further and faster. We may hear something about this at Jackson Hole, the Central Bankers’ love-in!
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A Royal Commission into Robodebt was announced today. Deemed illegal in 2019, this programme “recovered” money claimed to be owed through data matching, and was proved to be faulty, leading some to take drastic steps to avoid the debt. Lessons do need to be learnt.
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Recent changes in the rules has led banks to start reporting hardship arrangements on customers credit files. They will remain on file for a year beyond the end of the arrangement. This may have implications for some borrowers as they seek to restructure their mortgages in the current rising rate environment.
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Builders are falling like flies… and more to come.
Today’s post is brought to you by Ribbon Property Consultants. If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you. Buying property, is both challenging and adversarial. The vendor has a professional on their side. Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make. Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest. Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
Evidence is mounting that home prices are correcting towards pre-pandemic levels, and fast. Given the tightening of rates, borrowing power reductions, and consumer confidence falls, this is perhaps not surprising. But there are going to be consequences, and further falls should be expected.
Today’s post is brought to you by Ribbon Property Consultants. If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you. Buying property, is both challenging and adversarial. The vendor has a professional on their side. Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make. Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest. Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
Join us for a live discussion about the current state of Superannuation, and the financial system. Who is it working for? You can ask a question live.
Federal Treasurer Jim Chalmers has told the annual Superannuation Lending Roundtable that he believes that Australia’s $3.4 trillion superannuation sector should play a bigger role in building the nation. He said that with governments heavily laden with debt, energy and housing are two obvious areas that super funds should look to invest.
Former prime minister Paul Keating was also at the event, and called for super funds to look at ways of facilitating access to housing.
“We see trillions of dollars in workers’ capital, we see government budgets heaving with debt, and there are obvious needs for investment, particularly in areas like housing and energy,” Dr Chalmers told the annual Superannuation Lending Roundtable…
Dr Chalmers pointed to a lack of spending in the aged care sector and said he would “contemplate what, if any, further role for super there is in that”…
“This is a society that can’t house its own children,” Mr Keating said. “If super funds just think they can go buy tech stocks in America and highways in Italy, they’re going to run into trouble. Without being heavy-handed, there is a requirement of the funds to look at social opportunities.”
Today’s post is brought to you by Ribbon Property Consultants. If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you. Buying property, is both challenging and adversarial. The vendor has a professional on their side. Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make. Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest. Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
In today’s market update we look at the shift to the negative, as the bears are back, suggesting the rally was in fact of the bear market variety. And with shaky news from China and the Euro area, ahead of Jackson Hole, we should expect more weakness. Gold was also weaker.
Go to the Walk The World Universe at https://walktheworld.com.au/
Property insider Edwin Almeida joins me for another property related chat, as we move towards the start of the spring season. Some are saying the markets are turning, but we explore what is really going on as listing continue to rise, and more are expected to arrive on book soon. Also we look at a recent example of nasty surprises post purchase, what lies beneath?
https://www.ribbonproperty.com.au/
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