As you may know, Greece is in the news today due to its financial problems. So are Spain Italy and Portugal. They’re all in trouble because of excessive debt and inadequate cash flow to pay the interest on that debt.
Monthly Archive for June, 2011
Another interest rate rise is still on the agenda, but its timing has been pushed back until at least September, the minutes of the central bank’s June 7 monetary policy meeting indicate.
Refinancing to renovate is back in vogue as the sluggish property market means people are opting to do up their home rather than turn it over.
BY JUSTIN WOOD In one of my previous articles I wrote about how gold and especially silver could be one of the greatest investment opportunities of our lifetime as a result of reckless government spending here and around the world. On Friday the International Monetary Fund urged the United States to raise its federal debt [...]
Australia’s domestic economy is struggling to recover from the flood-related slowdown in the first quarter of the year but the mining sector is steaming ahead, a survey shows. National Australia Bank also warns in its monthly business survey that the multi-speed economy is persisting, with strength in mining in stark contrast to the weakness in retail, manufacturing, wholesale and construction.
Double the number of home loans were approved in April than what the market was expecting, with Queensland showing signs of recovery after recent flooding. The number of home loans approved in the month rose 4.8 per cent, to a seasonally adjusted 47,347, official data shows.
The Australian share market is teetering on the brink of a correction after a vicious sell-off wiped nearly 10 per cent off the value of local stocks in the past two months.
Queensland Treasurer Andrew Fraser will announce a $10,000 grant for those building new homes in today’s state budget. Mr Fraser this morning tweeted details of the new Queensland Building Boost grant, which will only be available from August 1 this year and Jan 31, 2012.
For many Australians, the dream of owning a home is fading. Rising interest rates and property prices act as gatekeepers to both first home buyers and property investors. Sydney remains the most unaffordable city followed by Melbourne, Brisbane, Perth and Canberra. A recent survey by Westpac revealed one in three Generation Y anticipate they would be permanently locked out of the housing market, leaving them with expectations of being lifelong renters.
Over the past 12 months unit values have increased by 0.1% across the combined capital cities compared to a value fall of -2.0% for houses. In fact, unit values have increased at a rate faster than house values for most of the past five years as home buyers search for more affordable housing options.