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/5652a90757b67a9611073937e1b6381eWEAKNESS, 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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Its looking bleak for Housing going forward , a rate cut will...
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