There are more interesting articles, commentaries and analyst reports on the Web every week than anyone could read in a month.
Each Saturday morning I like to share some of the ones I’ve read during the week.
The weekend will be over before you know it, so enjoy some weekend reading…and please forward to your friends by clicking the social link buttons.
NAB’s CEO Andrew Thorburn: Home-lending curbs could hit the wrong target
Are the tough home lending penalties hitting the wrong people?
According this an article on Domain.com.au the CEO of NAB seems to think so, in fact he urges regulators to be careful with their policies.
Australian regulators need to be careful tougher home-lending curbs don’t lock people who can afford to buy a house out of the property market, the chief executive officer of National Australia Bank Ltd. said.
“They are trying to fight a fundamentally momentum-driven phenomenon,” National Australia Bank CEO Andrew Thorburn said in Sydney on Tuesday, pointing to rapid population growth and low interest rates as key factors driving demand.
“We have to be careful that we don’t over-react.”
Small business and infrastructure groups need to become involved in the debate over longer-term solutions to housing affordability, he said.
“In a way we haven’t heard the voice of the people,” Thorburn said, citing the example of someone who is “kept out of the market because of these rules and they see prices continuing to go up.”
National Australia, which reports half-yearly results next month, is the country’s biggest business lender.
Over the past 18 months it has sold overseas assets and restructured to focus on retail and corporate banking in Australia.
It’s been pointed out that most full time new jobs since the financial crisis have gone to overseas born workers.
No doubting that this is absolutely true on a net basis.
A quick glance at the population pyramid explains part of the reason.
Immigration policy encourages workers under the age of 30 to come to Australia.
Meanwhile at the other end of the spectrum, mostly Australian-born workers are dropping out of the workforce, or shifting to part time employment.
Thus on a net basis, most of the growth in new full time jobs is accounted for by overseas born employees.
In reality, as I’ve shown many times on this blog immigration can rise faster when the economy is firing, and naturally falls again when the economy is weaker and thus not creating the jobs that incentivise migrants to come to Australia.
An article on Business Insider has revealed the lunches of some of the most successful people in the world, and while there’s no direct correlation between their meals and success – it couldn’t hurt to try…
We’re always being told breakfast is the most important meal of the day, but if, like me, you appreciate your time in bed, you probably never leave enough time in the morning to grab some toast.
This means you’re ravenous by lunchtime, and bound to enjoy your cuisine more than any early morning porridge.
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Michael is a director of Metropole Property Strategists who create wealth for their clients through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au