A High Interest Rate is a Thing of Great Beauty
What if I told you we could have strong wage growth, a robust social safety net, affordable housing, and a dynamic high-productivity economy, all without inflation? Well we can. We just can’t have all those things and have low interest rates. I’ve written about this from the other end —…
Why the Greens (and the ABC) are Wrong About Interest Rates
First of all a statement about my motives: I am going after the Greens (and the ABC) precisely because I expect better of them. I have no faith in anyone working for either of the major parties to be anything but a venal, self-serving cretin. …
A lot of shitty little businesses need to die now.
Minimum and award wages need to rise faster than inflation, because fuck you pay me. And interest rates should never get this low again. If businesses can’t handle that, they should close. — Australia has too many shitty little low value businesses that live at the last mile of the supply chain, buying bread and eggs from Woolies, toasting the bread and frying the eggs, adding fuck all value. It’s easy enough to go after the fintech shell games, and the ecosystem of…
Why Renting Makes Sense Right Now (even if you can afford to buy).
Last night I stumbled upon a thread in the r/AusFinance subreddit entitled Did I make the right financial decision? Just bought a House 20km north of Brisbane CBD The obvious answer to this question is no. Prices were at an all time high not long ago and are now dropping…
Philip Lowe Did Nothing Wrong.
That doesn’t mean he did anything right. But neither did the chorus of talking heads now vilifying him. The only thing the RBA governor is guilty of, really, is expertise. He is a professional, university trained economist, competently implementing textbook monetary policy as widely accepted by the rest of the accredited economic community. …
An Average Sydney House Lost About $130 in Value Since Yesterday.
13.91% Since the Peak Last Year This Tuesday CoreLogic released data showing a day on day drop of .02 index points, from 186.01 to 185.99. That’s about .01% or $129.62 of equity losses for an average Sydney house owner. It brings the falls since the 13 February peak to 30.05 index points, 13.91%, or (conservatively) $194,754— an average of $532 per day for the last 366 days. You can see how I sourced and handled this data in the video bibliography below. Let me know if you spot any errors!
An Average Sydney House Gained About $60 in Value Since Yesterday.
Down 13.9%, or about $195K, Since the peak, one year ago today. This Monday Core Logic released data showing a day on day gain of .01 index points, from 186 to 186.01. That’s about 0.01% or $64.81 of equity gains for an average Sydney house owner. It brings the falls since the peak on 13 Feb 2022, to 30.03 index points, 13.90%, or (conservatively) $194,624 — an average of $533per day for the last 365 days.
Sydney Real Estate Continues Streak of Daily Gains!
An average Sydney house gained about $1,300 in value over the last 7 days! House prices in Sydney, as per the daily data released by CoreLogic, are doing something they haven’t done in a while. Going up. It’s been rare for the index to show a positive number in recent months, even day on day. Now, for the first time in ages, it’s up week-on-week, two days running. Will bears like me end up with egg on their faces? Or is there more pain left for home-owners?
Sydney real estate just had its first positive week in nearly a year.
The numbers surprised me, I’ll admit it. For the first time since may last year, the 7-day change in Sydney house prices has gone positive, according to the latest data from CoreLogic, with an average house gaining about $500 in value over the last 7 days. See the video bibliography below for more information.