ABBOTT & COSTELLO ECONOMICS I’m not exactly sure of the source and although written in jest, it does actually explain how the underlying unemployment numbers are derived…… COSTELLO: I want to talk about the unemployment rate in America. ABBOTT: Good Subject. Terrible Times. It’s 7.8%. COSTELLO: That many people are out of work? ABBOTT: No, that’s 14.7%. COSTELLO: You just said 7.8%. ABBOTT: 7.8% unemployed. COSTELLO: Right 7.8% out of work. ABBOTT: No, that’s 14.7%. COSTELLO: Okay, so it’s 14.7% unemployed. ABBOTT: No, that’s 7.8%. COSTELLO: WAIT A MINUTE. Is it 7.8% or 14.7%? ABBOTT: 7.8% are unemployed. 14.7% are out of work. COSTELLO: If you are out of work you are unemployed. ABBOTT: No, Parliament said you can’t count the “Out of Work” as the unemployed. You have to look for work to be unemployed. COSTELLO: BUT THEY ARE OUT OF WORK!!! ABBOTT: No, you miss his point. COSTELLO: 150
By | 2018-09-21T14:55:19+00:00 April 28th, 2016|Property|0 Comments

Moranbah: Booming One day, Bust the Next!

MORANBAH: BOOMING ONE DAY, BUST THE NEXT! The perfect Queensland day is long past for the mining community of Moranbah. Its once BOOMING property market has now been decimated by the fall in the price of coal and subsequent closure of the local BHP mine. This has had a tsunami like effect on this singularly focused economy and is being painfully felt by property owners in the entire Bowen Basin region. The town welcomes visitors with its iconic “Big Red Bucket” in celebration of its dependence on the local mining industry – an industry known for its massive Booms and just as spectacular Busts! At the peak of the mining boom, a fully renovated four-bedroom house in Moranbah sold for $820,000. In November last year, that same house sold for a woeful $170,000. Ms Exposito, Principal Licensee of Moranbah Real Estate recently sold a house bought for $720,000 in 2012 for $130,000. According to figures from CoreLogic RP Data, 150
By | 2018-09-21T14:58:15+00:00 April 14th, 2016|Property|0 Comments