Last night I started watching the Hobbit to counteract the Sunday evening blues. I loved the first 30 minutes but was rudely awaken from my slumber by the missus saying I think you should go to bed as I had fallen asleep. I never fall asleep in movies.
One of my favourite Jungian authors Robin Robertson has written extensively on this Movie and the struggle of good versus evil in he book/movie I look forward to writing my own interpretation.
Coming back to Monday morning.
AMP Capital chief economist Shane Oliver added that “the easy days for Australia” were over as commodity prices become a headwind instead of a tailwind.
Some good news on the crowd funding front in Australia as it seems government is getting behind things with potential changes to the law.
“We have already indicated we are quite encouraging of changes that facilitate crowdfunding,” Treasurer Joe Hockey said. Minister for Small Business, Bruce Bilson, had been “consulting widely” on the issue.
We have to get rid of all this ridiculous protectionism, so this was a dose of good news which the ASX welcomes. Australian Securities Exchange chief Elmer Funke Kupper has praised the financial system inquiry’s call to remove a foreign ownership cap on the exchange, saying it would help to “level the playing field” with other markets.
Some cooling taking place in the real estate space:
Clearance rates around the country are in free-fall as near-record numbers of homes go to auction at a time when buyers are feeling less confident.
“There’s an underlying sense that supply has pushed past the quota for demand, but there’s also a sense there might be a cooling happening,” Domain Group senior economist Andrew Wilson told The Australian Financial Review. “We usually see a drop in clearance rates around this time of year, but this drop is certainly more than seasonal.”
Sydney recorded a clearance rate of 71.7 per cent out of 1378 auctions – its softest result in 18 months.
“There’s no doubt confidence is starting to moderate, and that there is more chat surfacing about possible cuts to interest rates,” Dr Wilson said.
According to newly published research, the size of China’s main property-buying population – people aged 25 to 49 – will peak next year and then start to decline, just as a huge glut of new apartments hits the market.