I wonder how many countries a person would have to waste hours on trolling data in order to find a correlation between interest rates and CPI? Courtesy of Trading Economics. Turkey: US: Oz:
I read an article during the week calling on the RBA to lower rates in order to drive a property asset boom which would encourage the construction of more housing to meet the current unmet demand. It's not a new idea, apparently former RBA Governor Ian MacFarlane acknowledged that such a policy decision could help as part of the solution to a shortage of rental accommodation. It's worthy of consideration probably, but it doesn't feature in the mindset of modern central banker policy.
Demand is unmet as not enough as is...and steady influx of migrants many of which are unskilled and cannot contribute to building. This is not to offend but its ridiculous policy...700,000 last year and roughly 200,000 already this year dont know official numbers but close to this,despite bullshit claims of slowing down its not happening, maybe having a shortage helps drive up values as it is many cant afford and shit all available to even rent. "F### off were full" i always found funny now its more relevant then ever looking around and ahead things arent good,were multicultural society and theres many benefits to that but also only so much to go around and due to corruptness/incompetence or poisonus planned foresight quality of life is turning to shit, Anzac day tomorrow a day my father and many of you and ours fought for freedom and certain lifestyle that has disappeared making a mockery of every soldiers sacrifice who ever fought,died or returned its a joke.
It’s a complex problem, I March tomorrow, a first generation Australian. Chicken and egg scenario. Perhaps AI will sort out the algorithm for new immigrants? Humanity tends to do a piss poor job!
Even with the slowdown in immigration the market cannot meet current demand. I think lowering rates will drive up house values (which is what MacFarlane believed) which is not ideal for potential homeowners, but then at least there may be more investment properties available for renters. 70% of property is owned by homeowners, 30% by investors, which is fairly stable historically. Add together the various State government's abdication of their responsibility for providing social housing instead relying on the private sector to meet demand, combined with higher rates, the inflationary pressure on building materials, onerous pre-planning hurdles and not to mention the privileged NIMBIES and it's really no surprise some are forced into arrangements that are less than ideal. And then you've got the drongos on the cross benches calling for the eradication of investment incentives. Albo has abandoned his working class support base and instead is pandering to intellectual elites while the alternative parties keep swinging the same economic and social retard stick as The Greens.
There's many pieces thats led us to where we are not just what i was raving on about obviously sorry some days hard to see much good through the bad the blatant corruption and bullshit lies and policies ensuring ongoing problems find sickening and the system where were "governed" and dictated to by a few with selfish biased intentions 99% to our detriment
