Oz is in recession

[Juliar]

The destructive power of the Chinese bred VIRUS!!!!


Australia in first recession in 29 years, Josh Frydenberg confirms
The New Daily 12:12pm, Jun 3, 2020 Updated: 1:40pm, Jun 3


Government has a range of options to repair the economy after the coronavirus pandemic. Here's what the economists say.
Australia's economy contracted 0.3 per cent in the March quarter. Photo: The New Daily

Treasurer Josh Frydenberg has confirmed Australia is in the midst of its first recession in 29 years.

Speaking in Canberra on Wednesday after the latest GDP figures confirmed the Australian economy shrank by 0.3 per cent in the March quarter, Mr Frydenberg said that based on forecasts, the country was already in recession.

A technical recession was not due to be confirmed until the release of the June quarter GDP figures, but when asked if Australia was already in recession, the Treasurer said “yes”.

Read on here

https://thenewdaily.com.au/finance/fina ... -29-years/

[Black Orchid]

ScoMo and Frydenberg need to work on their $25k package for home builders/renovators. Having to spend $150k on renovations before you can claim it is nothing short of ridiculous.

[Bobby]

ScoMo and Frydenberg need to work on their $25k package for home builders/renovators. Having to spend $150k on renovations before you can claim it is nothing short of ridiculous.

Yes it will be a fizzer as not many people have $150K to spend.

[Juliar]

Someone imprisoned in Qld is happy.  And this is from the ABC so it MUST be correct.


HomeBuilder federal stimulus welcomed by Bundaberg builder who's already putting on staff.

https://www.abc.net.au/news/2020-06-04/ ... s/12319614

[Black Orchid]

Apparently the home buyers/renovators package will only be relevant to homes 50km from the CBD.

[Juliar]

Not everybody is whinging.


No need for homes package to 'keep dream alive', says inundated builder
By Clay Lucas Updated June 4, 2020 — 5.37pmfirst published at 5.28pm

A Melbourne builder who also heads a construction lobby group says there is no need for the grants package announced by Prime Minister Scott Morrison to stimulate the industry – because there is so much work on.

And the group representing apartment builders say the Morrison government’s HomeBuilder grant scheme, offering $25,000 towards a new home or for a renovation, offers little to the unit and townhouse market.

Mr Morrison released details of the $680 million package on Thursday, saying it would "keep the dream alive" for those wanting to build a home.

"And the dream alive of the jobs for the builders, the apprentices and the tradies who depend on this critical industry right across the country."

Get your dream home here

https://www.theage.com.au/politics/vict ... 54zlt.html

[Juliar]

Aw Gee! Money from Heaven is falling out of the sky as cunning ScoMo buys votes.

Looks like AnAl will follow Shifty old Shorty down the path to nowhere and miss out on a PM pension unlike Gillard and Kruddy.




'Free money': Real estate agents flooded with calls about HomeBuilder grant
By Jennifer Duke and Michael Koziol June 7, 2020 — 12.00am

Real estate agents in outer suburbs have been flooded with calls about the Morrison government's HomeBuilder grant for new homes and renovations, but major industry groups warn many people will fail to qualify unless the scheme is expanded and normal processes are suspended.

Liverpool-based realtor Dean Boskovic said he took 70 calls in 24 hours and had "probably eight buyers telling me they are ready to buy, they are ready to utilise the grant straight away".


Prime Minister Scott Morrison announced the $688 million HomeBuilder program in Googong last week.CREDIT:ALEX ELLINGHAUSEN

Master Builders Australia boss Denita Wawn warned governments may need to exempt applicants from the program's rules unless banks and councils speed up loans and development approvals.

"HomeBuilder is deliberately targeted to kickstart building activity over the next months when the viability of small builders and security of jobs will be most under threat. This is what the industry asked for," she said.

Read more here

https://www.smh.com.au/national/free-mo ... 5503p.html