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Australian Economy

Housing mountain of debt reaches one trillion

Despite the Global Financial Crisis, an event triggered by debt, the Reserve Bank of Australia figures show Australian Households have punched through the big $1 trillion dollar mark in home mortgages. This is almost 15 times more than 20 years ago. Loans to Investors to purchase houses have gone up

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United States Economy

702 U.S. banks on FDIC trouble list at risk of default

The FDIC on Wednesday has indicated there are 702 banks on the FDIC trouble list which is in danger of defaulting. This is the highest level in 16 years. Last year 140 banks failed in the US, with another 20 this year. The FDIC Chairwoman, Shella Bair says this pace

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Australian Economy

Jobs recovery stumbles

With the onset of an election, the government has seized at data from the Australian Bureau of Statistics showing Australia’s unemployment rate is trending down from 5.5 percent in December to 5.3 percent in January. But while more Australian’s are in work, is the result really as rosy as the

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Australian Economy

No ‘pent up’ demand for Mortgage Approvals

Demand for mortgages has dropped for the third consecutive month in December, with approvals falling a seasonally adjusted 5.5 per cent according to official ABS data. This follows falls in November of 6.1 per cent and October of 2.85 per cent and brings the quarter fall to 13.74 per cent.

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ABS House Price Indices

House prices surge to new highs

Data from the Australian Bureau of Statistics (ABS) show the prices for houses in Australia has surged in the December quarter. The weighted average for the eight capital cities increased 5.2% for the quarter, bringing the annual gain to 13.6%, once again outstripping wage growth and inflation. » 6416.0 –