Digital Tyranny Is One Step Closer!

Remember the parable of the frog, who slowly gets cooked to death, in a pot as the temperature rises – well, the same in true for Australians, as civil liberties such as the use of cash, are removed, even as the digital architecture for future control gets put in place. You can see parallels elsewhere round the world, and aligned with the agenda of several high profile non-elected bodies like the World Economic Forum – of “you will own nothing and be happy” fame.

Australia’s Digital ID Bill 2023 was initially introduced to the Senate on November 30, 2023, and has since undergone a Senate inquiry and brief consultation period before this week being pushed through the Senate without debate. Despite assurances of voluntariness and promises to simplify citizens’ lives, the Labor government has faced backlash for the lack of scrutiny given to the bill.

And there is of course the wider, story here potentially linking digital ID with Central Bank Digital Currency and Social Scores, perhaps enabling the idea peddled by the World Economic Forum and other non-elected global entities, that we the people can be better controlled in terms of what we can, say, or even purchase. So you value your privacy, liberty and the rule of law, the Digital ID Bill must be defeated, time to put pressure back on the house of representatives when the amended bill comes back.

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DFA Live Q&A HD Replay: Fixing Housing After The Hijack: With Cameron Murray

This is an edited version of a live discussion with Cameron K. Murray, Author of The Great Housing Hijack which reveals how vested interests pull the strings on the property market in Australia, and offers a solution for genuinely affordable housing for those who need it.

With 120,000 people homeless each night and one in five low-income private renters spending more than half their income on rent, it is clear Australia urgently needs a housing policy change.

For anyone who wants to truly understand the housing market in Australia, The Great Housing Hijack is essential reading. Drawing on the best housing policies around the world, Murray shows how Australia could create a genuinely affordable housing program without compromising the interests of existing property owners.

Murray argues that even if more housing were built, the average household would not end up spending any less on housing.

Murray proposes bypassing the private market altogether with a scheme called HouseMate. The federal government would buy or repurpose land, build homes, then sell them at a discounted price to Australians who do not own property.

Perhaps the most controversial argument in The Great Housing Hijack is that planning and zoning rules do not change how much new housing is built, just the location.

Join the debate – you can ask a question live.

https://www.fresheconomicthinking.com/

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Its Edwin’s Monday Evening Property Rant!

Another important discussion with Edwin Almeida, our property insider. Not only has the price of coco tripled ahead of Easter, but listings are down, despite more property investors listing, while the gap between property demand and supply widens, as more migrants seek to buy.

https://www.ribbonproperty.com.au/

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Today’s post is brought to you by Ribbon Property Consultants.

The Aussie Housing Crisis Out To 2030 And Beyond? With Tarric Brooker…

Journalist Tarric Brooker and I deep dive on the Australian Housing Crisis, as conclude that there is no easy fix, thanks to generations of bad policy and active intervention. So who are the winners and losers?

Tarric slides are here if you want to follow along: https://avidcom.substack.com/p/dfa-chart-pack-22nd-march-2024

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Only A People’s Bank Will Tame The Savage Beast: With Robbie Barwick

Robbie Barwick and I parse the latest from the Regional Banking Inquiry. The Senators are on the scent now, and Bankwest got a right pasting…

Here’s the press release this is from:

https://citizensparty.org.au/media-releases/bankwest-betrayal-west-aussies-test-government

Here’s the details. What you can do: Call and email WA Labor MPs to demand they stand up to BankWest and CBA and tell their boss Anthony Albanese to re-establish a People’s Bank:

Member for Tangney Sam Lim Ph: (08) 9354 9633 Email: Sam.Lim.MP@aph.gov.au
Member for Hasluck Tania Lawrence Ph: (08) 6245 3340 Email: Tania.Lawrence.MP@aph.gov.au
Member for Pearce Tracey Roberts Ph: (08) 6500 6499 Email: Tracey.Roberts.MP@aph.gov.au
Member for Swan Zaneta Mascarenhas Ph: (08) 9355 0099 Email: Zaneta.Mascarenhas.MP@aph.gov.au
Member for Cowan Dr Anne Aly Ph: (08) 9409 4517 Email: Anne.Aly.MP@aph.gov.au
Member for Burt Matt Keogh Ph: (08) 9390 0180 Email: Matt.Keogh.MP@aph.gov.au
Member for Perth Patrick Gorman Ph: (08) 9272 3411 Email: Patrick.Gorman.MP@aph.gov.au
Member for Brand Madeleine King Ph: (08) 9527 9377 Email: Madeleine.King.MP@aph.gov.au
Member for Fremantle Josh Wilson Ph: (08) 9335 8555 Email: Josh.Wilson.MP@aph.gov.au

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Look No Home Loan! Another Market Distortion!

PEXA just released their second edition of their Cash Purchases Report which highlights residential property transactions that were funded entirely with cash. That is, residential properties purchased without a home loan. The share of mortgage-free transactions rose by 2.9 percentage points to 28.5 per cent of all home sales.

And this is important, because it helps to explain the apparent contradiction between the rise in property prices at a time when mortgage interest rates have also risen, a weird combination to say the least.

Some migrants, from the near 1 million arriving, come with sufficient cash to buy, as well as many downsizing Australians who have enjoyed the capital growth in recent years. So there is an ever larger portion of buyers that will be relatively unaffected by rising interest rates. This is another example of unequal access to housing, at the expense of mortgaged borrowers, especially in a higher interest rate environment.

Mortgage borrowers are being punished for the exuberance in demand for cash buyers. And more broadly, interest rates will remain higher for longer, because the interest rate lever is less powerful which gives the RBA and every Australian an inflation headache.

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Today’s post is brought to you by Ribbon Property Consultants.

DFA Live Q&A HD Replay: Household Financial Stress Analysis: Deep Dive

This is an edited version of my live discussion about the latest from our surveys, as we look at mortgage, rental, investor and financial stress across the country, down to a post code level.

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Its Edwin’s Monday Evening Property Rant!

Another chat with our property insider Edwin Almeida, as we look at the latest from the market. More supply questions, as construction costs rise, while some plan to offer zero deposit loans to attract voters.

Meantime the rental crisis deepens and opinion is divided in the WeeChat sphere.

The craziness continues…

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Today’s post is brought to you by Ribbon Property Consultants.

“Deaf” Bankers Called To Account!

The Commonwealth Bank subsidiary Bankwest, the 130-year-old former Bank of Western Australia bank announced last Wednesday that it was moving to become a digital-only bank and would close 45 locations in the state. The 45 Bankwest branches that have been earmarked for closure will close their doors by October this year. There are 28 locations in Perth and 17 in regional WA. A further 15 branches will be rebranded under the Commonwealth Bank banner and are expected to finish their transformation by the end of the year.

Yes, this is the same CBA whose CEO Mat Comyn on 20th September 2023 in a statement to the Senate Inquiry into regional branch closures promised not to close more branches until at least 2026, even though they specifically excluded Bankwest from their statement, while saying “we recognise the unique and important contribution that regional Australia makes to our country”. “Our decision to pause regional branch closures is also predicated on customers and communities valuing our decision to stay”.

Committee member Senator Richard Colbeck said the Senate committee has been hearing plenty of people raising concerns about the vital banking services being lost.

“Every week in our hearings we hear from local communities how important these essential services are and how their communities are affected, yet those who are given a license to provide those services, the so-called service sector, continuously ignore those pleas and withdraw services – it is as though their ears were painted on,” he said.

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Its Edwin’s Monday Evening Property Rant!

More from our property insider Edwin Almedia, as we look at the latest from the property markets, as markets show signs of stress into Easter.

Things on the ground are rather different from the stories reported elsewhere.

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Today’s post is brought to you by Ribbon Property Consultants.