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Melbourne loses bogus ‘most liveable’ city title

By Leith van Onselen Of all the idiotic ‘awards’ handed out, The Economist’s ‘Most Livable City’ must surely rank near the top. That being said, Melbourne has finally lost its title to Vienna: The two cities are now separated by 0.7 of a percentage point in the rankings, with Vienna scoring a near-ideal 99.1 out

27

Greg Jericho’s immigration propaganda mushrooms

By Leith van Onselen Earlier this year, the poster boy for the globalist ‘Fake Left’, Greg Jericho, penned a drivelling article in The Guardian labelling any discussion of Australia’s reckless ‘Big Australia’ mass immigration program as ‘racist’: Immigration – because there are many desperate to hate – must be treated with extreme care by politicians

23

Australian banks’ giant mortgage capital rort

I’ve waded through Matt Comyn’s presentation of CBA’s results and some things struck me as, bluntly, lacking clarity. There’s no doubting CBA has a valuable franchise inherited mainly from its government owned history and its does have leading tech in delivering customer outcomes, but when it comes to the capital and liability side of the

76

Crashing investor mortgages ominous for house prices

By Leith van Onselen With the recent release of the ABS’ lending finance data for June, it’s an opportune time to once again chart how capital city house prices are tracking against both investor and total housing finance. As readers no doubt already know, housing finance has historically been strongly correlated with values, therefore it

33

Phil Lowe demolished again for ‘Big Australia’ spruik

By Leith van Onselen As if yesterday’s demolition job of RBA Governor Phil Lowe’s speech strongly supporting Australia’s mass immigration ‘Big Australia’ program wasn’t enough, The Australian’s Judith Sloan – who was the Commissioner in charge of the Productivity Commission’s (PC) 2006 review into the Economic Impacts of Migration and Population Growth and can be considered

24

Sydney’s water network cracks under pressure of drought

By Leith van Onselen With NSW declared 100% in drought: And Sydney’s water supplies plummeting: Sydney’s Water network is literally cracking under pressure of drought. From The ABC: Sydney Water says it is drowning in leaks across the city due to the NSW drought, with some pipes spurting water for weeks before being repaired. As

47

Dear Crikey, Straya has a ‘politico-housing’ not ‘military-industrial’ complex

I’m back next week from holidays but threw together this little post on an important piece from Crikey’s Guy Rundle, Australia’s leading Marxist thinker, who finally led a push-back against mass immigration from the genuine Left this week: Well, the Australian population has passed 25 million. Twenty five million! When I opened a primary school

26

Backlash builds against Airbnb party towers

By Leith van Onselen The backlash against short-stay apartment rentals through portals like Airbnb continues to build. After the weekend’s violent death of teenager Laa Chol during a wild party in a Melbourne CBD high-rise, Fairfax reports that neighbours lives are being turned upside down: Defecating in the sauna. Breaking bottles in the apartment tower’s swimming pool.

27

Why Australia’s record household debt is dangerous

By Leith van Onselen It seems Michael Pascoe’s move to the New Daily, after getting dumped by Fairfax, hasn’t stopped the housing spruiking. Yesterday, Pascoe penned another article lambasting us from the “Doom & Gloom Brigade” (DGB) for being concerned about Australia’s extreme household debt: [Here’s a] graph that tells you a lot about the

67

The Left not the Right has destroyed Aussie wages growth

A pointless wages debate today. First the Left, at The Guardian: Despite chief executives having bumper pay increases last year, the majority of Australian workers have seen their wages decline. Figures released on Wednesday show the real value of wages has stagnated across the economy, with inflation and wages now growing at the same annual

32

The West isolates China trade cheat

Via CNBC comes rumours of the death of the West being greatly exaggerated: President Donald Trump on Wednesday said the United States and the European Union had launched a “new phase” in their relationship, saying that the two major economies would start negotiations immediately on a number of areas including working toward “zero tariffs” on industrial goods

90

Politicised ABS spouts ‘Big Australia’ propaganda

The Australian Bureau of Statistics (ABS) has joined the push for a ‘Big Australia’ of 40 million mid-century, publishing the following propaganda on its Facebook page: Of course, there’s no mention of the fact that Australia is mostly desert: Since when has it been the job of the ABS to promote current government’s policies? Poor

52

Slain teen to force changes to Airbnb party towers?

By Leith van Onselen Following the weekend’s violent death of teenager Laa Chol during a wild party in a CBD high-rise, the Victorian Andrews Government has finally flagged changes to tighten short-stay rental laws through portals like Airbnb: …the recently completed tower had been swamped by investor owners letting apartments via Airbnb and other short-stay

17

Google gives Aussie investors a lesson in returns

This is why the MB Fund retains exposure to the US earnings boom: Internet giant Alphabet posted a significant earnings beat on Monday after the close, sending shares up more than 5%. Alphabet reported adjusted EPS of $11.75 per share compared to $9.64 expected by analysts. Total revenue came in at $32.7 billion; excluding traffic acquisition costs

46

Coalition wakes to population nightmare

The immigration debate has has clearly been won by the skeptics. Coverage today starts with a stark warning from Infrastructure Australia CEO Philip Davies, at The Australian: In an exclusive interview with The Australian, Mr Davies, who will retire from his position at the end of this month, slated successive governments for “gold-plating” infrastructure projects

36

How to profit from the Aussie housing crash

Via the AFR: ARCO fund manager George Colman says he is cautious on the Australian economy and is warning of a “slow-motion property market crash”. “Broadly speaking, we think that the game has changed in terms of consumer behaviour,” he says. “Bank credit is creating a step change.” Property borrowers moving from interest-only to more

10

Sydney’s rental vacancy rate to top 3% by year-end

By Leith van Onselen We noted on Tuesday how Sydney investors are facing the twin shock of both falling prices and rents. This came after SQM Research’s June rental report revealed that Sydney’s asking rents were now falling on the back of a spike in the rental vacancy rate to 2.8% – the highest level

34

Sydney’s East revolts against “massive overdevelopment”

By Leith van Onselen With Sydney having hit permanent peak hour: And the city being transformed into a high-rise ‘battery chook’ farm: NSW Deputy Opposition Leader, Michael Daley, has slammed a “massive overdevelopment” in the inner suburb of Pagewood: Mr Triguboff’s company Meriton proposes to build more than 3000 apartments over 10 years on the former

42

Bishop, Wong contract “Trump derangement syndrome”

Competing back-tracking today from Australia’s foreign minister and her shadow. Julie Bishop gave Washington a slap: In a significant speech at London’s Chatham House, Bishop said the international rules-based order put together after the chaos of World War II “is facing its greatest test as it is challenged and strained on multiple fronts”. This crisis

15

MB Fund tops Australia’s best super funds

Via The Australian: Industry super fund Hostplus is taking a contrarian view on the market as it celebrates being named Australia’s best-performing super fund for the second year running. The fund’s balanced option posted a 12.5 per cent return for the 2018 financial year, smashing the median return of 9.2 per cent across the industry,

30

Flammable apartment values up in flames

Via the AFR: British owners of apartments clad in combustible aluminium panels are struggling to sell their units in the wake of London’s Grenfell Tower tragedy, as the financial costs of replacing cladding and fixing buildings are unclear to both owners and potential buyers. …Once registers of buildings with combustible cladding, such as the one

29

Sydney and Melbourne risk “homelessness epidemic”

By Leith van Onselen Industry Super chief economist, Stephen Anthony, penned a detailed article in Fairfax over the weekend warning of a “homelessness epidemic” in Sydney and Melbourne due to the serious lack of affordable and social housing, and offering policy solutions: Australia stands on the precipice of a major social crisis. Industry Super estimates