not necessarily , yes costs of materials and wages go up, but sometimes quality and corners are cut to take the sting out of the inflationBut house prices go up with inflation? Max confuse
Need more info on this before concluding anything rock, e.g which houses, by which people, so on and so forth.A curious stat for Aus is that 1 in 4 properties sold is being bought with "cash", ie, no loan.
With that ratio, it would appear that the housing sector is probably in a pretty good place in comparison to other countries.
(1:4 ratio read in some article, can't remember where)
U.S because of a lot of actual real economic strengths, aus because of the almost de facto erasure of borders resulting in the highest per-capita immigration levels in the world.I'm interested to hear why the US/Aus would stay out of recession
Gives those suffering credit squeeze a little breathing space for this month anyway.View attachment 160355
The rba SHOULD be hiking, but whether it does or not is another question entirely.
Smurf 9% seems a pretty hefty lift on the previous year. I guess that includes rubbish pick up and fire levyReceived the council rates notice today.
Up 9.03% year on year.
Just another data point about inflation in the real world.
Yes includes rubbish etc.Smurf 9% seems a pretty hefty life on the previous year. I guess that includes rubbish pick up and fire levy
View attachment 160407
There's actually a lot to glean from this. I've gotta get to bed but if everyone care to take a guess I'll come back to it once I'm up and tell everyone what's what
well with the nervousness of lenders some 'sales' involving a mortgage can take some time ( if it proceeds at all )A curious stat for Aus is that 1 in 4 properties sold is being bought with "cash", ie, no loan.
With that ratio, it would appear that the housing sector is probably in a pretty good place in comparison to other countries.
(1:4 ratio read in some article, can't remember where)
Surprise?NZ with surprise increase to unemployment, now 3.6%
Interesting to watch as RBNZ seems to have been leading the CB cohort with rate hikes.
View attachment 160433
Surprise?
Given that its been rising since jan 2022, albeit in small increments, I would not call it surprising.
The latest increment is probably higher than the last four though.
Be interesting to see net quarter whether that upward increse is sustained or even greater.
Mick
NZ does not have a terrible big manufacturing sector , only about 12% of GDP according to NZ govt ,Even the recent data point is low.
The current narrative RE: soft landing, is dependent on unemployment remaining low - as has been the case in the US and Aus.
This is data showing that despite unemployment being low for so long, it is continuing to trend upwards and hints at possibly invalidating the soft landing narrative. Particularly so given manufacturing indices for the US remain contractionary...
Hence my previous post about the amount of long duration/30 year being sold. It's all connected.Lol
View attachment 160426
US Stripped of AAA Rating by Fitch as Budget Deficits Swell
Fitch Ratings’ downgrade of US government debt sparked criticism from Washington and Wall Street even amid unease that swollen fiscal deficits risk eventual turbulence in markets, the economy and next year’s presidential election.www.bloomberg.com
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