Australia press: "Tough road ahead in Australia housing"
Well so far today's Asia FX action sucks.
Scanning some of the info around the place, this in the Australian Financial Review, reporting on an assessment from a building products group:
- Metroglass is the third-largest glass processor in Australia
- chief executive Simon Mander comments
- expects more declines in the number of housing starts in 2019-2020
AFR goes in with some of the glimmers of positivity for the sector:
- A loosening of regulatory controls by the APRA
- election victory by Prime Minister Scott Morrison … means an end to uncertainty about negative gearing changes
- prospect of interest rate cuts by the Reserve Bank of Australia to try and kick-start a sagging economy, which while a positive for borrowers is a signal of an economy battling to re-gather momentum