Just as we were recovering from the long drought and the worst bushfires on record, the global coronavirus pandemic took hold and changed everything.
With tax cuts and stimulus payments on the way, Treasurer Josh Frydenberg is urging us to open our wallets and spend to kick start the national economy. If your personal balance sheet could do with a kick along, then saving and investing what you can also makes sense.
With Australia in a COVID-induced recession, residential property is not immune to falling economic activity. Yet housing prices are proving surprisingly resilient. Only months ago, economists were forecasting a housing price slump of 20% or more. Now, most have revised their forecasts to price falls of between five and 10%.
The Pulse Despite a reasonably robust underlying economy, the impact of the coronavirus is likely to weigh heavily on the US and other China‐exposed economies.
With interest rates at historic lows and likely to stay that way for some time, retirees and other investors who depend on income from their investments are on the lookout for a decent yield.