Indian Warship Collided with Fishing Trawler

first_imgBack to overview,Home naval-today Indian Warship Collided with Fishing Trawler December 25, 2013 Authorities View post tag: Warship View post tag: Trawler View post tag: Naval Indian Warship Collided with Fishing Trawlercenter_img Share this article INDIAN NAVAL SHIP TAWLARThe Indian Navy ship INS Talwar collided yesterday evening with a fishing trawler near Ratnagiri district of Maharashtra, according to the Indian Express.The trawler suffered serious damage and sank after the collision. Four persons aboard the fishing vessel were injured.A Board of Inquiry, which has been appointed by the Navy, will investigate the reasons that caused the accident.This is the fourth incident in the Indian Navy this year.[mappress]Naval Today Staff, December 25, 2013; Image: Wikimedia View post tag: Indian View post tag: Wishing View post tag: Collidedlast_img read more

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How to protect yourself by spotting a fake stimulus check

first_img How to protect yourself by spotting a fake stimulus check Facebook WhatsApp CoronavirusIndianaLocalMichiganNationalNewsSouth Bend Market Twitter WhatsApp Pinterest Treasury Secretary Steven Mnuchin speaks about the coronavirus in the James Brady Press Briefing Room at the White House, Monday, April 13, 2020, in Washington. (AP Photo/Alex Brandon) Stimulus checks are going out all over the country, and the Secret Service and US Treasury have some tips on how to keep an eye out for counterfeit checks designed to cheat you.Millions of relief checks are going out this month, and the two agencies announced a joint effort Monday designed to inform citizens of the best ways to protect themselves during this critical time.Fraudulent checks are also floating through the mail system from criminals who started planning them the moment the CARES Act was announced. There are a number of security measures printed into the legitimate checks, according to a joint release from the two agencies received by Fox News:“With the implementation of the CARES Act, comes opportunities for criminal activity, like check fraud,” the agencies said in a statement Monday. “The Secret Service and the U.S. Department of the Treasury want to inform citizens and consumers nationwide on ways to protect themselves during these times.”The USSS and the Treasury Department on Monday released a set of “quick tips” and “genuine security features” for those reviewing the legitimacy of checks mailed to them.The checks, according to the agencies, will include a “Treasury Seal” placed to the right of the Statue of Liberty on the check. It will say “Bureau of the Fiscal Service,” replacing an old seal, which would have read “Financial Management Service.”That seal, according to the agencies, will show bleeding ink when moisture is applied, causing the black ink to “run” and turn red.In addition, U.S. Treasury checks are printed on watermark paper, which will read “U.S. TREASURY” and can be seen from both the front and the back of the check when held up to a light. The check will also have a protective ultraviolet (UV) pattern, which is invisible to the naked eye. If put up to a UV light, an individual can expect to see the U.S. Seal of an eagle, or “FISCALSERVICE.”Legitimate checks will also have microprinting on the back of the check with the words “USAUSAUSA.”Finally, on the lower right side of the Statue of Liberty imprinted on the check will read: “Economic Impact Payment President Donald J. Trump.” Previous articleMonday Indiana numbers released for COVID-19 casesNext articleMichigan COVID-19 cases reach 32k Tommie Lee By Tommie Lee – April 20, 2020 0 476 Facebook Google+ Google+ Pinterest Twitterlast_img read more

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Give us YOUR views on bakery retailing in 2016

first_imgReaders have less than two weeks left to tell British Baker what the past 12 months have meant for the retail bakery market.We are running our annual Bakery Business Survey to gauge how 2016 has treated businesses that operate shops selling baked goods.Your responses – which will be confidential – will form a key part of our annual Bakery Market Report, which will be published in March. And one lucky reader who completes the survey will win £75-worth of Amazon vouchers.The survey just takes a few minutes to complete and covers topics including pricing, costs and what the future may hold for the industry.The closing date for responses is 27 January 2017.“Your views are vital in helping us paint an accurate picture of how the bakery retail sector is performing,” said British Baker editor Vince Bamford.“This is particularly the case this year, given the tumultuous events of the past 12 months, not least the Brexit referendum and its consequent impact on currencies and costs.”Click here to take part in the Bakery Business Survey.It takes just minutes to complete and, if you complete the survey, you will be entered into our draw to win £75-worth of Amazon vouchers.last_img read more

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The Drunken Hearts Share Their ‘Love & Thirst’ On Soulful New Single [Premiere]

first_imgColorado-based group The Drunken Hearts continue to electrify with every live performance. The five-piece group creates an exciting blend of Americana music, resonating for its honesty and soulfulness. Growing from an acoustic trio to an electric powerhouse, the band continues to pick up fans with top notch musicianship and songwriting. With a new EP called Love & Thirst due out next Friday, May 6th, this band is destined for big things in 2016!The Drunken Hearts’ forthcoming EP is a true representation of a young band and their journey through big love and heavy loss. Love & Thirst is a very real and exciting milestone for the band, and highlights not only their fiery sound, but the deep lyrical well from which they draw. Produced by multi-Grammy winner, Rob Eaton (also of Dark Star Orchestra), the album was recorded over the course of almost a year, at both Immersive Studios in Boulder and Silo Sound Studios in Denver, and features many friends, including Tim Carbone of Railroad Earth.In anticipation of the new album, the band has shared the title track exclusively with L4LM. Tune in below:Lead singer and songwriter Andrew McConathy spoke to us about the new release:“I wrote ‘Love & Thirst’ in Santa Fe, NM. It was written for my girlfriend while she was living there, but over time it took on new meaning. In the fall of 2014 we lost our brother and founding band member, Ted Welles. Ted’s death sent us reeling…. however, through that loss we gained new purpose; and ultimately a renewed musical drive and thirst to take the band to the next level.As a song, ‘Love & Thirst’ exudes everything The Drunken Hearts represent.. love, loss, rebirth, taking risks, not regretting those choices or the true path we are all on. We’d like to thank Rob Eaton for making this track shine.”With the new EP due out next week, the band has a number of dates coming up in support, and will hit festivals like Campout For The Cause and Electric Forest in June, as well as their own festival, YarmonyGrass, from August 18-21 in Rancho Del Rio, CO. Check out their tour schedule, and find more information about them on their official website.Upcoming Tour Dates:5/14/2016    Martyr’s – Chicago, IL    5/15/2016    Music Box – Cleveland, OH 5/19/2016    Brooklyn Bowl – New York, NY    5/20/2016    Garcia’s – Port Chester, NY    5/21/2016    Nectar’s – Burlington, VT    5/22/2016    MusikFest Cafe – Bethlehem, PA5/30/2016    Gold Hill Inn’s Memorial Day Mountain Music Fest – Gold Hill. CO6/05/2016    Campout For The Cause – Rancho Del Rio, CO6/24-25/16    Electric Forest Festival – Rothbury, MIlast_img read more

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L.A. Blues Guitarist Lou Pine Releases New Video For ‘Where Did The Fun Go?’

first_imgLos Angeles-based Blues rocker Lou Pine has released a video for his latest single “Where Did The Fun Go“. The video follows the guitarist strolling along the Venice Beach Boardwalk as he solves a Rubik’s cube, the Black Keys-esque jam playing along in the background. L4LM discovered Lou Pine when the rocker joined Dopapod at their Teragram Ballroom show last year, joining the band on “Off The Cuff”; Lou Pine is a former bandmate of Dopapod drummer Scotty Zwang as well.Dopapod Goes ‘Off The Cuff’ In Los Angeles With Special GuestThe blues rocker has this to say about the video, “Now, it may seem like I’m not having any fun in the music video for “Where Did The Fun Go?” but in actuality it was a total blast!  What’s more fun than solving a Rubik’s cube on the Venice Beach boardwalk in Los Angeles? The irony of this song, for me, is that playing music is the most fun thing I can do with my pants on. I get so much joy out of writing, recording and performing music and that is the real concept behind this song. Growing up can be a drag, and I battle everyday to stay young at heart and have fun with the simplest things. I hope that idea will translate to listeners and I really hope that people have as much fun listening to the song as I did making it.”Lou Pine will be playing El Cid on Sunset Blvd. on Thursday, June 16th.Lou Pine “Where Did The Fun Go?”:last_img read more

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ND student body president, vice president reflect on term to date and look forward to goals for remaining time in office

first_imgNow more than halfway through their term as student body president and vice president, seniors Bryan Ricketts and Nidia Ruelas are finding their time so far in office to be somewhat different from what they initially expected.“[Running for office], you do have to think, to believe you’re qualified to do it. But you also believe that what you believe in, and the goals and ideas that you have, are going to make the University better and make students’ lives better. And that is sort of what drives you,” Ricketts said. “I am a very different person than I was Apr. 1. … There’s no escaping the change that comes with the responsibilities and the interactions that you’re having.”Michael Yu | The Observer Ruelas also said her perspective has shifted during her tenure as vice president.“[I’ve] changed in the way that now I’m looking to be more perceptive and more analytical in thinking about, ‘okay, well what are the implications of this?’” she said. “It’s not just like, ‘just be friendly to everyone and hope everything will work out okay.’ And that’s a huge lesson in leadership and something that I’ve grown in.”Ricketts and Ruelas won the February election on a platform that focused on student identity and diversity, and with a slogan of “Leading with passion. Working towards unity. Celebrating identity.”Since taking office in April, Ricketts said he and Ruelas have achieved many of their original platform goals. One area they’ve particularly emphasized, he said, is working as a community to address the issue of sexual assault.In their platform, Ricketts and Ruelas stated their intention to “support all students, faculty, and staff in proactive efforts to take a stand against sexual assault” and to “continue the message of the ‘It’s On Us’ Campaign through initiatives that promote bystander intervention and encourage reporting and the use of counseling services.”Over the course of the semester, the administration has continued as planned with the ‘It’s On Us’ campaign originally launched by last year’s administration, and has also submitted a 30-page report on sexual assault – comprising interviews with students, staff and administrators, as well as a number of recommendations – to the University’s Board of Trustees.“‘It’s On Us’ and the sexual violence board report, I would definitely put up there at the top as something that we’ve worked very hard on, as something that we care a lot about as something that the students care a lot about,” Ricketts said.In addition to their initiatives on sexual assault, Ruelas said she and Ricketts have also followed through on another one of their campaign promises: the launch of Onward, an online forum for students to submit ideas and voice concerns over current issues on campus. Ricketts described Onward as the “fruit of months of conversations with administrators and faculty across the campus,” and said student government has already received useful input from students using the site, particularly concerning food services. He said, however, that in many ways Onward is still a work in progress.“I think where we have to go from here, and where we need to improve, is once the ideas are up [on Onward] and we’re working on implementation, how do we effectively structure them to demonstrate to students what a realistic timeline looks like?” he said. “When an idea comes up, there’s a significant period of investment of time and sometimes money into making that happen, so working on how we can be more transparent about that process I think is going to be the key next semester in terms of the success of Onward.”One objective from their platform that requires further attention, Ruelas said, is the promotion of initiatives regarding diversity and inclusion on campus. She said a November panel student government co-sponsored with the Diversity Council to kick off the ‘It’s Time ND’ campaign – a campaign to encourage dialogue on the issues of diversity and inclusion on campus – had fewer numbers of students in attendance than she hoped.“I think that that’s something that we were reevaluating afterward and we were like, you know what, we could have done more on this in the sense of really using the connections that we have with other students to gather feedback on what we could do better … and also hopefully improve the conversation so that its more representative of what students want to talk about,” Ruelas said.In addition to working to achieve the goals they outlined for their administration in the spring, Ricketts said he and Ruelas have also had to refocus their attention on several newly-emerging issues.In particular, Ricketts said, both academics and student services have surprised him as two of the more prominent issues during his time in office.“I think there’s been a stronger focus on academics than ever anticipated, because we realized the need for student voice in that area,” Ricketts said. “The other big one has been student services.“ … Whoever’s coming next, I think the best advice I could give them is that whatever you want to do, the little things that make student life better, they often aren’t what you think you’re going to be able to achieve.“You just get an opportunity, and you have to jump on it. That’s what happened with the concession stands, that’s what happened with the prices in the huddle. We saw an opening, we said okay, this is going to make student’s lives better — let’s go for it. It’s kind of hard to plan out what those things are going to be, it’s just more having the mentality of looking for ways that this is going to make students’ lives better.”Both Ruelas and Ricketts cited the enthusiasm and dedication of their department directors and staff as one of the major strengths of their administration.“You never know how it’s going to go when you’re coming in,” Ricketts said. “You do the best you can to pick a team. You think you’ve got the right people, but you don’t know until the rover hits the road, and they’ve done a fantastic job at meeting our goals and at meeting their goals.”Ruelas said other administration members have grown throughout the semester in their ability to work together as cohesive unit.“We definitely bounce things off of each other, especially major decisions. That’s critical,” Ruelas said. “And I think that we complement each other very well in terms of perspectives and personalities, too, I think. What’s the same is our vales, and that, I think, has also been super important.”Ricketts said the current administration has also learned from the work of previous administrations, particularly regarding student involvement in initiatives.“I think from previous administrations, we inherited the recognition that your initiatives and your goals are only successful insofar as they are student-centered and student-focused,” Ricketts said. “So recognizing that It’s On Us can’t be successful without students, by, you know, just us, recognizing that [student involvement] had to be a central principle of Onward, I think we inherited a lot of that.”And in turn, Ricketts said he wants to leave to future administrations a legacy of “respect and professionalism.”“I hope what we leave when we move on is some sort of respect and professionalism,” he said. “We’ve done our best to treat this as a professional office, as a professional job when we do our work — especially with administrators and with people outside — to treat it like we’re getting paid to do this job, to treat it with the utmost respect. And I hope that that displays not only how much we care about the issues, but how ready we are to engage on behalf of the student body.”Tags: Ricketts-Ruelas, Student government, student government in focuslast_img read more

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7 ways to get more (and better) creative ideas from your credit union team

first_imgCredit unions are a unique business. However, there are certain things that all businesses share. One of these is the need for innovation. Because the credit union business is constantly changing (now there’s an understatement!), it’s vital that credit unions keep innovating to stay ahead of the curve. And all innovation begins with a single, creative idea. But how do you get those creative ideas? Here are 7 ways that you, as a credit union leader, can get more (and better) creative ideas from your credit union team. Get them out of the workplace.A change of location helps shake the brain out of its routine. It also gets people away from the multiple distractions of the workplace, which are not conducive to creativity. So try having a lunch meeting at a local restaurant. Maybe a nearby hotel has a nice lobby area for a small, informal meeting. If it’s nice outside, go to a park! Anyplace other than your credit union’s version of “Meeting Room C.” Give them the “What”; let them give you the “How.”Nothing kills the creative spirit more than being micromanaged. Creative people (and we are all creative people) love being challenged. As a leader, it’s your job to set the goal (the “What”). Now, ask your team to come up with the “How.” Tip: prepare to be surprised by some brilliant ideas that you would never have thought of! Ask crazy questions.When looking for creative solutions to your next credit union challenge, ask your team “crazy” questions. Questions like: “How would we solve this problem if we had $20 million to throw at it?” “How would a professional dancer solve this problem?” “How would three cats, working together, solve this problem?” Not only will this force your team members’ brains into their naturally creative space, you may just find the germ of an actual solution in some of the answers they come up with! Make a “play space.”Creativity needs stimulation to thrive. People are more creative when they play. If possible, furnish one of your meeting rooms with a few toys (Nerf® balls, Legos®, etc.) and interesting, colorful magazines (not credit union—or any industry-related—magazines!). And, if you’re really serious about this, paint this room a shade of green. Studies show that the color green boosts creativity! Invite an outsider.Every now and then, invite someone from outside the credit union (and, preferably, from outside the financial services industry) to sit in on a meeting. An artist, a comedian, an art historian. Someone who sees the world through a completely different lens than you or your team. This person might see solutions, or come up with ideas, that would never occur to someone from the credit union industry. Send your team out for a walk.According to recent research done at Stanford, people do their best creative thinking while in motion—outdoors, down a corridor, or even just a treadmill. Many leaders have discovered the multiple benefits (including, of course, health) of holding “walking” meetings. Initiate “Plagiarism Friday.”(Full disclosure: I plagiarized this idea from someone else, but I can’t remember whom.) Every Friday, have each member of your team bring in one great idea from outside the credit union industry and share what makes the idea creative and innovative. Then ask your team how that idea could be incorporated into the credit union. (a bonus tip!) Let your team know that ideas are welcome, encouraged, even required, from everyone.No one has a monopoly on great ideas! That next breakthrough idea—the one that takes your credit union to the next level—can come from anyone on the team.Creativity and innovation are the keys to your credit union’s success. Every new challenge (and it seems like there’s a new one every day) requires a creative solution. It’s up to you, as a credit union leader, to encourage, support, and value creativity from everyone on your team! 51SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Bill Stainton Bill Stainton works with extraordinary leaders who want to produce breakthrough results with their teams. A 29-time Emmy® Award-winning producer, writer, and performer, Bill speaks frequently to Credit Unions and … Web: www.billstainton.com Detailslast_img read more

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Meghan King Tests Positive for Coronavirus Months After Jim Edmonds

first_imgIn the clip, she lip-synced as someone said, “Got a text from my ex the other day, he said he missed me. I said, ‘I’m sorry I can’t talk right now, I’m at a funeral.’ He said, ‘Oh, my God. Who died?’ I said, ‘My feelings for you did. Bye, f—ker.’”Us Weekly confirmed in May that King moved on with businessman Christian Schauf. Edmonds, for his part, is dating Kortnie O’Connor.Given the constantly evolving nature of COVID-19, Us Weekly wants our readers to have access to the most accurate resources. For the most up-to-date coronavirus information, guidance and support, consult the CDC, WHO and information from local public health officials. If you’re experiencing coronavirus symptoms, call your primary care provider for medical advice. Listen to Us Weekly’s Hot Hollywood as each week the editors of Us break down the hottest entertainment news stories! – Advertisement – Meghan King revealed she tested positive for coronavirus and explained how she thinks she contracted the illness seven months after estranged husband Jim Edmonds‘ diagnosis.“I tested positive for Covid,” the Real Housewives of Orange County alum, 36, wrote via her Instagram Story on Sunday, November 15. “I have been safe while traveling but I had an exchange on Tuesday where I did not protect myself and this is when I had to have been infected. I have been safe with distancing and masks since Tuesday including when I went to dinner solo and stayed distant and wore a mask at Hayes’s soccer.”Meghan King Tests Positive for Coronavirus 7 Months After Estranged Husband Jim Edmonds: ‘I Have Been Safe’Meghan King and Jim Edmonds. Michael Simon/Startraks; MOVI Inc/MEGA- Advertisement – King then detailed her plans for fighting the virus and keeping her children — daughter Aspen, 3, and twin sons Hart and Hayes, 2 — safe. “My kids have been at their father’s but Hayes will quarantine due to brief (1 hour) proximity to me,” she continued. “I have contacted everyone and will isolate for 10 days minimum per CDC guidelines. My children will have to stay with my parents as they cannot stay at my house while I’m sick.”In the past week, the blogger documented herself visiting Miami for a “girl’s getaway” and cuddling with Hayes at his first indoor soccer game.King noted on Sunday that her symptoms include “extreme exhaustion, sneezing, a mild cough, and diarrhea.” She added that she was already “directly exposed multiple times” in the past and did not test positive.- Advertisement – The reality star’s diagnosis comes seven months after Edmonds, 50, battled COVID-19. King made headlines in April when she appeared to throw shade at the former baseball player — whom she split from in October 2019 — during his health struggle.“I kid I kiddd but the ending is my favorite,” she captioned a TikTok video at the time, along with a devil emoji, a winking emoji and the hashtags #jokes and #gotatextfrommyex.- Advertisement –last_img read more

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New Arsenal midfielder Thomas Partey provides excellent assist in Ghana’s win vs Qatar

first_img Chelsea defender Fikayo Tomori reveals why he rejected Read More Comment Top articles PLAY / Read More New Arsenal midfielder Thomas Partey provides excellent assist in Ghana’s win vs Qatar by Metro Advertisement Full Screen Thomas Partey provided two assists in Ghana’s win over Qatar (GSports/Getty)Arsenal fans are getting excited for Thomas Partey’s arrival after the midfielder provided two assists in Ghana’s 5-1 victory over Qatar on Monday.Partey completed his £45 million move to the Gunners on deadline day but the international break has meant that he has had to wait to make his debut for Mikel Arteta’s side.The midfielder is in line to make his first appearance for Arsenal this Saturday as the Gunners face Manchester City at the Etihad Stadium.And Partey already looks to be hitting his stride after setting up two goals in Ghana’s comfortable win over Qatar.AdvertisementAdvertisementADVERTISEMENT Partey was given a full 90-minute runout for Ghana and will now arrive in England to begin life at Arsenal.Meanwhile, Partey’s father, Jacob , claims Chelsea were also in the running to sign the midfielder before his move to Arsenal.‘We actually weren’t disturbed by anything because we hoped a bigger team will come,’ Partey’s father told My Joy Online.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal‘We were aware [other teams were interested]: Juventus, Chelsea and so forth. So through all of this we knew God was with us. From that minute we started to dance to “Party after Party”.‘What I [noticed] was that he was willing to play where there is Champions League [football] but [I suggested to him that] can’t he be where there is no Champions League and help them get into the Champions League?‘My advice to him was irrespective of the big move, he has to keep training seriously and not lose focus. Not chase ladies so he doesn’t flop! He was very receptive of that.’Follow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Skip Coming Next Advertisement Skip Ad Partey’s first assist had a huge stroke of luck as his shot fell into the path of Andre Ayew, who fired home from close range.But there was nothing lucky about the second assist as Partey’s excellent long ball over the top of Qatar’s defence was met by Samuel Owusu, who brilliantly finished to extend Ghana’s lead in the second half. Read More deadline day move to West Ham Read More Video Settings About Connatix V67539 1/1 Metro Sport ReporterTuesday 13 Oct 2020 11:55 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link8.4kShares 1 min. story SPONSORED Visit Advertiser website GO TO PAGE Read Morelast_img read more

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Major headwinds for housing pre-election but affordability is rising

first_img Sun shines on autumn sales Combined capitals -0.7% -8.2% $597,860 More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoPerth -0.4% -7.7% $442,716 The good news for Brisbane was that while values were softening, the apartment sector seems to have recovered from over-supply. Brisbane tower named best in Australia The good news for homeowners was that the pace of the decline in property values was now easing off relative to the past four months, especially across Sydney and Melbourne. The fear though was that the market downturn was “becoming geographically more widespread”, according to CoreLogic head of research Tim Lawless.He said housing values were lower across six of the eight capitals and five of the seven ‘rest of state’ markets in the past month.Brisbane was down -0.6 per cent in the past month, with dwelling values dropping by -1.3 per cent in the past 12 months, putting the median value at $489,832. Over the past five years though, dwelling values had actually grown by almost double digits, 9.9 per cent.Mr Lawless said Brisbane was “previously seen as a level market”. National -0.6% -6.9% $524,149 Canberra 0.0% 3.1% $595,212 CHANGE IN DWELLING VALUES Dwelling values have dropped -10.9 per cent in Sydney in the past year. Picture: AAP Image/Sam Mooy.Affordability is rising across the country as dwelling values fall, but experts warn of major headwinds for housing in the lead up to the Federal Election.The latest CoreLogic Hedonic Home Value Index, released Monday, found that national dwelling values had been trending lower for 17 months and fallen by a cumulative 7.4 per cent since peaking in October 2017.But “despite the broad based weakness, the national index remains 15.9 per cent higher relative to five years ago, highlighting that most property owners remain in a strong equity position.”“The silver lining here is that housing is now very affordable and first home buyers are proportionally much more active relative to other areas of the country,” especially in markets where values peaked much earlier (2014) such as Darwin (-27.5 per cent) and Perth (-18.1 per cent).“As dwelling prices trend lower or level out, household incomes are edging higher and mortgage rates remain around the lowest level since the 1960s,” said CoreLogic head of research Tim Lawless. “First home buyers are clearly taking advantage of the improved levels of affordability and less competition in the market.” MORE REAL ESTATE NEWS Sydney -0.9% -10.9% $782,473 The reduction in owner occupier lending was creating widespread impact across major cities. BORROWING CREDIT Credit availability was also a major headwind, with one indicator of reduced activity coming of the number of housing valuation events “which provides a timely proxy for mortgage activity”, Mr Lawless said. Those valuation events were “around 14 per cent below activity a year ago” — a trend that was also showing in ABS housing finance data in terms of both investor and owner occupier lending through to the end of January. Mr Lawless said it was the downturn in owner occupier lending that was of concern.“The value of owner occupier lending is around 2.6 times the value of investor lending, so the substantial drop in owner occupier mortgage commitments perhaps explains why the housing downturn is becoming more widespread.”Owner occupier housing finance commitments (excluding refinance) were down 17.1 per cent compared with January last year while investment credit was 24.6 per cent lower, he said. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 Hobart 0.6% 6.0% $464,168center_img Adelaide -0.2% 0.8% $426,990 Melbourne -0.8% -9.8% $624,425 Capital city Month Annual Median value FEDERAL ELECTION There is even better news for those borrowers who do decide to refinance or follow through with housing loans, with Mr Lawless expecting all the headwinds plus general weakness to see the Reserve Bank cut its cash rate target “later this year”.“While any cuts to the cash rate may not be passed on in full, a lower cost of debt will provide some positive stimulus for the housing market. Arguably, this stimulus won’t be as effective as previous interest rate cuts due to the high serviceability buffer applied to borrowers, whereby lenders are still required to assess serviceability at a mortgage rate of at least 7 per cent despite mortgage rates which are now available around the 4 per cent mark or even lower.” FOLLOW SOPHIE FOSTER ON FACEBOOK Weakness in Sydney and Melbourne was now spreading, mostly because of credit availability in the owner occupier market. Picture: AAP/Matthew Vasilescu.“Values have really been edging lower in the last four months. We do see acceleration in the rate of decline in Brisbane despite Brisbane showing strong population growth, affordability, and generally improving conditions, it does look like there are some headwinds based on credit availability.”But he said the apartment sector’s headwinds appeared to have eased, with it “starting to look healthier in Brisbane”.“There’s been a rapid slowdown in construction, and the local unit market is looking a lot healthier,” he told The Courier-Mail. SPREAD Darwin -0.6% -6.8% $400,316 Brisbane -0.6% -1.3% $489,832 He expected the housing market to “continue to be affected by uncertainty related to the federal election, lending policies and more broadly, domestic economic conditions”.“Federal elections generally cause some uncertainty, which is likely amplified more so this time around considering the potential for a change of government which will also involve significant changes to taxation policies related to investment.”“No doubt, some prospective buyers and sellers are delaying their housing decisions until after the election, however, there is no guarantee that certainty will improve post-election, considering the impact of a wind back to negative gearing and halving of the capital gains tax concession is largely unknown.”“It seems a reasonable assumption that removing an incentive from the market would result in some downwards pressure on activity and prices for a period of time.”“If elected, the Opposition have flagged that changes to the capital gains tax discount and negative gearing would take effect from January 2020.” (Source: CoreLogic Hedonic Home Value Index, March) Champagne taste on beer budget Combined regional -0.4% -2.1% $376,728last_img read more

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