Links 18 April 2019


Global Macro / Markets / Investing:






  1. Hugh PavletichMEMBER

    Melbourne buyers face valuations shortfall … Australian Financial Review

    New home buyers who purchased Melbourne housing lots at the peak of the market are scrambling for cash to settle their contracts or risk defaulting due to valuations coming in tens of thousands of dollars below what they agreed to pay 12 to 18 months ago.

    The valuation shortfall comes as Melbourne lot prices start to fall sharply, after surging 30 per cent in 2017 to new highs of over $350,000, and as sales drop to well under 1000 a month, forcing developers to offer incentives and cash rebates to attract buyers. … read more via hyperlink above …

  2. Rant on /

    It’s been 18 months since we lodged an application for our family to be together. Me, exec role, her, entrepreneur. I vented on these boards before. Still, no outcome. Ah, yes, we is wh!te and privileged.

    I appreciate all of the suggestions to expedite the matter, immigration ombudsman, MP, etc. Trick is, the MP is not standing for re-election, and ombudsman does not deal with “extended” review period.

    Bottom line, I have no avenue to even ask about the status of the application. Department does not respond. Local MP couldn’t care less, not contesting the election.

    For all of us citizens, we have no way to even flag this mater for public consideration. Advice I’ve received from numerous lawyers, sit back, shut up and wait. The DEPARTMENT answers to noone.

    Disheartening doesn’t even plumb the depths of the issue. Second-rate citizen seems like an answer. Question though, do we, I, continue to fight, or just fold and move on? Personally, I love this country. The country doesn’t love me back. Taxes aside.


    Cvnts like Gav, Ino, Mbogan, WW, footsie, docwhateverthenumbers, others I don’t mention, appreciate your input. Made the choice of not signing up, no value *for me*, but MB is the light

    • Is there a time limit? If there is have you tried the AAT? S25(5) – not that I know but they may help.

    • Am I a cnut? Not sure if this is good or bad lol..

      We (wife) and I went through this in Ireland ourselves. Missus went to immigration department in Ireland. I have an Irish passport, at the time she was trying to obtain her Greek passport. But stuck with Australian passport only.

      She was trying to get a spousal Visa to stay in Ireland. Some Irish immigration officer made her feel like shyte. Left in tears 1 time. An African fellow cheered her up and said that guy is a *cnut* haha (guess he had been through the same). She went back for another Interview with someone else and all was fine.

      I guess it depends who you get like anything really?

      I love this country too, but the amount of tax I pay, the living costs, the cost of housing and the lack of any real plan or vision for how we will manage all this immigration drives me nuts.

      If I thought we had a plan to make it all work, I’d feel 100% better about it, but I just look on in dispair at the way things are going.

    • Max – kicking the department officers is like kicking the dog everytime somone [email protected] Blame Dutto and co who seem to be running the visa processing system down to set it up for privatisation.

    • Well – I’ll be buggerized. Looks like I made it – I’m part of the intellicvntia. Look ma’ – I’m someone on a forum!

      Anyhoo – since you did take my name in vain, my two cents: sad thing is that they have all the answers and they know they have all the answers. And even if they are not *all* cvntocrats, enough are to make it a rather risky minesweeper job.

      For all intents and purposes – you guys have options – good jobs, presumably healthy, reasonably young (again presumably). I’d keep this iron in the fire (with low expectations) but also look elsewhere.

      To add salt to the insult and injury – my cynical devil on my shoulder tells me that you may find yourselves in a similar situation in other places too… I guess you’re just too whìte, not of the right religion, not trans enough, and certainly ungay… so, you’re fvcked! Might as well buy yourselves a set of electric nipple clamps and see if you can make something of it.

    • Well – My comment went straight to the moderation bin… obviously something triggered the Cvnt-MasterBot 3000.

      Hopefully you got the mail message.

    • Max a highly skilled engineer I worked with in the EU had the same problem, and it went on for over a year. He’s married to an Aussie and all she wanted to do was to get back for her ageing parents in Sydney. I only found out when he confided in me, so I wrote to the immigration dept on his behalf. Amazingly a few months later they replied and they accepted the family ( wtf his wife was a Aussie and he had a job offer). I was gobsmacked that he couldn’t get in and not having lived here for 16 years I really didn’t know all the changes that had occurred. Now I’m back I wish I’d never returned and stuck to my guns. I’m very bitter professionally as there a f all real jobs here for my profession now. I make the most of it for family reasons, but I don’t feel at home in the country now. The only time I get peace is in the surf or on my bike..the rest is a mirage.

  3. Hugh PavletichMEMBER

    NEW ZEALAND:Live: Government rejects a capital gains tax (video) … Stuff NZ

    PM Jacinda Ardern rules out a CGT, disappointing the Greens and Michael Cullen, with National saying it’s a big win for NZ. … read more via hyperlink above …
    … New Zealand Governments recent renewed focus on key structural issues to solve housing crisis … Housing Minister Phil Twyford explains …

    … The political direction is clear …

    New Zealaned Housing Minister Phil Twyfords speech to the New Zealand Initiative Members Retreat … New Zealand Government / Beehive

    … extract …

    … In our view there are three big challenges that have to be addressed:

    1. A broken system for financing infrastructure

    2. A planning system based on urban containment

    3. The failure of governments until now, both local and central, to actively work with the private sector to enable urban growth and expansion.

    … concluding …

    … I talked about the land banking and speculative economy, and the pressure cooker that has given us some of the most obscenely expensive housing in the world.

    These moves are designed to change that. …

    … If we do these things we can truly flood the market with development opportunities. We can break the land banking economy, and drive down the cost of urban land.

    We can achieve more competitive urban land markets. And industry that is more focused on development and building places of enduring value instead of land banking and speculation.

    That is the pathway to more affordable housing, and a systemic fix of the crisis that has caused so much hardship, and sucked so much of our national wealth into residential property instead of the productive economy. … read more via hyperlink above …
    … Note The New York Times article and The Listener Editorial February … accessible via February Update and new 2019 Sections at

  4. the IPA also calls for a doubling in the number of politicians in the House of Representatives from 150 to 300.

    What the hell for?

    scrap the Fair Work Act including its provisions on the minimum wage.

    selling the ABC, slashing the company tax rate

    Sally McManus needs to get the AEC to adequately fund the political parties – so that the IPA has barely any influence at all.

  5. Had a call from (a representative of) my local Labour member (Melb SE burbs) last night. What are your issues? Well, take migration back to the longtem average intake, reduce fake tertiary students, deal with the two houses full of Indian labourers up the street from me.

    The call went dead – must have been from India.