Links 25 November 2019

Global Macro / Markets / Investing:





Leith van Onselen
Latest posts by Leith van Onselen (see all)


    • I was in the states recently and was chatting with an Aussie mate who has lived in new york for many years, now a partner in a law firm specialising in securities etc. It’s exactly the same there as here with regards to dodgy money entering the country and laundered through property. They don’t care, same as the govt. here.

    • the whole system built for international money laundering and tax evasion within Westpac is just supporting business for slowing down fraud mortgage core business

    • Interested PartyMEMBER

      How long before the connections to Australian politicians are exposed?
      lol……sweat, you fvckers. The scab is peeling off now.

  1. UNITED STATES … Nationally new lots (sections) median price $49,500 …. National Association of Home Builders (NAHB) reports …

    … 4 out of 5 Americans say there is a housing affordability crisis …

    Lot Values Hit Record Highs … Natalia Sineavskaia … U.S National Association of Home Builders

    According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data, median single-family lot prices outpaced inflation once again (4.4% vs 2.4%) and reached new record high in 2018, with half of the lots selling at or above $49,500. The most dramatic rise in lot values is observed in the West South Central division where median lot values more than doubled since the housing boom years. … read more via hyperlink above …
    4 out of 5 Americans say there is a housing affordability crisis (NAHB Survey) … Mortgage Professionals of America Magazine
    2019 15th Annual Demographia International Housing Affordability Survey

    Housing Affordability Ratings … Median Multiples … All Markets

    Australia 5.7
    Canada 4.0
    China (Hong Kong) 20.9
    Ireland 3.7
    New Zealand 6.5
    Singapore 4.6
    United Kingdom 4.8
    United States 3.5

      • Copy comment from colleague …

        That is unreal!

        I have put the m2 conversion on the map to show the sections are quite large for the median price. Average is 800m2 – so the m2 rate in the US is UNDER NZ$100/m2!

        Here is a new section in Auckland – at $1900/m2 – nineteen times the average US m2 rate!

        Surely something is wrong here!

  2. FMD. John Howard, of all people, warning about the dangers of career politicians. As if the evidence if the harm they cause isn’t presented to us evey day.

    • Just like Sam Dastyari saying that foreigners should not be allowed to give money to Aussie politicians.

    • I had a laugh when ScoMo was paying respects to some old polly who passed away and said “how important it has to have real life experience” or similar to be a good polly!

    • So true!
      MEL and SYD feel just like a packed airport terminal in a city you’ve never visited before.
      Where’s the blue concourse and gate X?
      Nothing is familiar!
      More than slightly apprehensive.
      Can’t wait to take-off and leave *that* all behind.

    • High density living seems at odds with the way humans have evolved. I wouldn’t be surprised if it contributes to making people depressed.

    • Part of the problem now that things are going down the drain economically is that people only have time for someone if they think they can be of material benefit e.g. to sell something to them, get a contract, job, whatever. If you have no chance of offering a material benefit to someone, to them you are just a waste of space. It doesn’t take long to feel lonely if that’s your daily experience.

      I have said it many times before: the Australia we used to know is dead.

    • I live in a high density area, and I know none of my neighbours. To be honest, it doesn’t really bother me. I’m a fairly private person and I like to choose my friends rather than being chummy with the random renters who come and go around me. Not to mention that almost all of them are vibrant and we have nothing to talk about anyway.

      I know. I’m a terrible racist. I don’t care.