Future Cash Rate Rises - Mortgages
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What is the episode premise and why does NZ’s cash rate matter to Australia?
It's the Real Estate Podcast, brought to you by Ray White, the largest real estate and property group in Australasia.
And welcome to another episode of the Real Estate Podcast, available on iHeartRadio and also Spotify and Apple Podcasts or wherever you get your podcasts from. It's Wednesday, the 27th of April for 2022. Coming up in just a moment, Tony Alexander, The Economist, is back to talk about where the New Zealand property is heading and And I'll tell you what, we need to really pay a lot of attention with the cash rate rise and mortgage rate rises there in New Zealand, because for Australia, it is like looking into the future with New Zealand being ahead in their timeline, which is likely to be similar here when we catch up to it.
It's the main centre forecast with propertybuyer.com.au.
Okay, let's have a look at the weather forecast. And for Sydney, expecting a few showers today, a high of 23 degrees. Melbourne, partly cloudy with 22. Brisbane, one or two showers expected with 25. And in Perth, a possible morning storm with some showers today and a high of 21 degrees.
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Well, if you've been following the defamation trial that Johnny Depp has brought against his ex-wife Amber Heard, it got a whole lot more personal with a forensic psychologist believing Heard has two potential personality disorders yesterday. Psychologist Shannon Curry told the court that Heard had borderline personality disorder and histrionic personality disorder and that the actress was full of rage.
Who is Tony Alexander and what perspective does he bring on NZ property?
It can lead to someone going out of their way to seek approval or being overdramatic and over-emotional, she told the court. I tell you what, despite what is true and what isn't, the damage really has been done for Amber Heard with some film industry commentators saying that she will never likely work on a film set again because producers will find her too much of a liability. So Johnny Depp has managed to inflict some real monetary future earnings pain on Amber Heard's career.
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And we are talking to Tony Alexander again, a New Zealand economist. Good morning, Tony. Good to get you back on the Real Estate Podcast.
Yes, good to be back here again. Craig, certainly it was fun last time around. So let's see what happens this time.
How's that apartment of yours? Are you still in Australia or have you gone back to New Zealand?
Yeah, no, I'm actually still here. You see, my wife and I, we came across together for two weeks. And as we're getting towards the end of the two weeks, I said, you know, I still don't have any physical presentations back in New Zealand for a while. So I'd like to stick around for another two weeks and then looking forward to coming back again about another five to six weeks down the track.
Sounds good. Now, I wanted to talk to you about risk adverse. Now, it used to be that pre-COVID, somebody, let's say when they were turning 50, might take a punt and start a new business. Now, I've got a few friends of mine who are in their 40s. I've known them a long time, very successful in their own right. They're now starting to play the conservative card. How How much of a problem is this likely, do you think, for countries like Australia and New Zealand where suddenly people are starting to be very conservative on the business front?
Well, it's certainly going to be a problem if things remain that way. But when you actually look at the data, certainly back in New Zealand, there's been an increase in new business formation over the past couple of years as people have looked to supplement their income, they've looked to dive more deeply in what they can do over the internet, using social media for marketing purposes, et cetera, going into the gig economy. So we've seen sort of a bit of a shift that way. But in terms of some caution just creeping in there, I think maybe we can attribute some of that to the fact that running a business these days has become exceptionally difficult.
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Chapters
4 chapters
1
What is the episode premise and why does NZ’s cash rate matter to Australia?
0:02–1:47
2
Who is Tony Alexander and what perspective does he bring on NZ property?
1:47–4:27
3
How has COVID changed people’s risk appetite for starting or expanding businesses?
4:27–6:39
4
What operational challenges are making new businesses harder to launch now?
6:39–11:44
Speakers
3 identifiedMore from Aussie Real Estate Podcast
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