Melbourne is the fourth fastest gown city in the developed world. In roughly 10 years, Melbourne could become Australia’s largest city. With the population growing at a fast pace, infrastructure is needed.
It’s not looking great if you’re planning an overseas holiday. But if you’re not, then this just may be what you’ve been waiting for.
The housing market has been on a steady incline for over a decade. There’s no disputing that. And even though the last 10 months has seen a small decline in house prices, they still remain high.
Last week, the Reserve Bank of Australia posed a question, per the ABC: ‘…are Australia’s banks, and therefore the broader economy, vulnerable to a shaky retail sector?’ It’s a question that requires some consideration.
The back and forth between the two economic powerhouses began earlier this year. We all know the story, the US put down a 25% and 10% tariff on steel and aluminium, respectively. And it’s grown from there.
Central banks around the world used stimulus packages to boost their economies and in Australia, it also kept us out of a recession. For this to work, countries had to spend money, which has led to debt.
For over a decade, Australia’s housing prices were on the up. They soared higher, in absolute terms and in comparison to incomes, than Aussie real estate markets had ever been.
But as KPMG put it, an ‘all out’ trade war doesn’t just include the US and China. There have been many countries that have been affected by the Trump administration’s tariffs on steel and aluminum.
You may remember a few years ago the Chinese lost their trust in locally produced products after mass death and illness was caused by contaminated baby formula. But it’s not only baby formula that the Chinese have been lied to about.
This week however, Turkey is at the forefront of economic minds everywhere. While the US dollar has strengthened this year, the Turkish lira has dropped dramatically. In fact, ABC News reports that it has dropped roughly 40% against the US dollar.