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More Weakening Economic Data…

The value of new loan commitments for housing fell 4.4 per cent in June 2022 (seasonally adjusted) but remained at a historically elevated level of $31.0 billion, according to data released today from the Australian Bureau of Statistics (ABS).

The ABS said: “The value of new owner-occupier loan commitments fell 3.3 per cent in June 2022, while new investor loan commitments fell 6.3 per cent. These falls followed rises in May, attributed to a clearing of application processing backlogs by lenders.

Elsewhere the total number of dwellings approved fell 0.7 per cent in seasonally adjusted terms in June, following a 11.2 per cent rise in May, according to data released today by the Australian Bureau of Statistics (ABS).The ABS, said “the decrease in the total number of dwellings approved in June was driven by a fall in approvals for private sector dwellings excluding houses, which dropped 5.7 per cent.”

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Written by Walk The World

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  1. I think they should let inflation go and keep interest low because if inflation gets out of control then spending will naturally fall , inflation will stabilise , growth continues and the money stays in our pockets vs rising interest rates they crash everything while leaching off everything on the way down and inflation gets worse.

  2. Eventually Economic Reality grips even the most fanciful mind Mr. North. Weakening is a revealing adjective to choose. 6:53 You "wonder whether the RBA factored that into their upcoming decision"? You can't be serious. I hope your being sarcastic.

    Hope your prepping for the forthcoming hyperinflation, its not long now 🙂

  3. flyaway inflation from hair-brain central banks and their corporate captive governments.

    the default assumption of using quantitative population growth as a cover to the shortcomings of their politico-economic retardation only creates a bigger mess.

    feed the nitwits to the dogs

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