Labor Party stalwart Doug Cameron has unleashed on governments responsible for decades of poor policy decisions that have “failed the nation”, resulting in a dire housing crisis. And he called on powerbrokers in Canberra to ignore “scare campaigns by vested interests” to reform controversial tax perks like negative gearing andContinue Reading
The typical Australian who might’ve once bought a home a few generations ago is now much more likely to rent thanks to plunging housing affordability, which is now at its worst level in more than 20 years.And they’re flooding rental markets that are beyond capacity, competing with low-income and vulnerableContinue Reading
Qantas is expecting about 150,000 Australians to travel on Friday in what the airline claims is its busiest day of the year. Friday kicks off the summer peak travel period, with the school year wrapping up for most jurisdictions across the country and more than 8.5 million passengers geared upContinue Reading
Qantas called on Aussies to name its new aircraft after the airline announced construction is underway for its first QantasLink Airbus A220 — and the winners have now been revealed. The theme was based around “native wildlife” with more than 6,000 submissions received before it was narrowed down to 40Continue Reading
The cost-of-living chaos gripping many Australian households is worsening, with even those on six-figure salaries feeling high levels of financial stress, new research shows. The latest Bill Stress Index compiled by Compare Club found 30 per cent of all households are spending between 50 per cent and 70 per centContinue Reading
Australian households are under “extreme” cost-of-living pressure with two in five people struggling to pay to have a roof over their head, according to a new report. Finder’s cost-of-living pressure gauge, which measures economic strain based on a number of factors, was at an “extreme” level of 79 per centContinue Reading
Further assistance to low and middle-income home buyers is on the horizon with the introduction of legislation to parliament which, if passed, will result in the federal government taking an equity stake of up to 40 per cent in new or existing homes. Promised by federal Labor ahead of theContinue Reading
Just about everywhere you look, there are worsening signs that Australia is no longer the lucky country. From record-high rents to skyrocketing mortgages, a cost-of-living crisis to the alarming emergence of a ‘working poor’ population, the country faces an unprecedented storm of factors putting pressure on millions of people. AndContinue Reading
Reserve Bank governor Michele Bullock has dealt a fresh blow to borrowers with a 13th interest rate rise while cautioning that inflation will be higher in 2024 than previously expected. Ms Bullock said Tuesday’s decision to lift rates by 25 basis points to 4.35 per cent was necessary as progressContinue Reading
Households are spending a greater share of their income on mortgage repayments than ever before and borrowers can expect this figure to climb even higher, the Reserve Bank has warned. Speaking at a business conference in Sydney on Wednesday, RBA assistant governor Chris Kent, who heads the bank’s financial marketsContinue Reading