Its looking bleak for Housing going forward , a rate cut will...

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    Its looking bleak for Housing going forward , a rate cut will not boost prices but may help mortgage stress.


    https://www.news.com.au/finance/economy/australian-economy/huge-warning-sign-for-australian-economy/news-story/5652a90757b67a9611073937e1b6381e

    WEAKNESS, EVERYWHERE

    The Australian economy is showing plenty of signs of weakness other than very low inflation. House prices are falling, wages growth is pitiful, and the underemployment rate is about 8 per cent — much too high.

    Unemployment is 5 per cent, which was an impressively low number a decade ago. But these days people can get a few hours employment a week driving an Uber and be counted as employed.

    A 5 per cent unemployment rate is not full employment anymore. It is probably equivalent to the old 6 or 7 per cent unemployment, which is to say, it represents a slack labour market where wages growth is not happening.

 
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