Food for thought

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RBA’s Debelle flags housing risk from tighter lending standards

first_imgRBA deputy governor Guy Debelle says house prices could be impacted by tighter lending standards. Image: AAP/Morgan Sette.RESERVE Bank of Australia deputy governor Guy Debelle has warned of the risks to house prices if lending standards are tightened further as a result of the banking royal commission.In a speech in Sydney, Dr Debelle said tighter lending restrictions might have a bigger effect on the amount of funds an individual household could borrow, rather than the number of households that were eligible for a loan.“This, in turn, means that credit growth may be slower than otherwise for a time,” he said.“To me, that has more of an implication for house prices, than it does for the outlook for consumption.”GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERERBA deputy governor Guy Debelle says house prices could be impacted by tighter lending standards.When it comes to interest rates, the RBA looks set to stay on the sidelines for the foreseeable future, with Dr Debelle stressing that the official cash rate was likely to remain steady this year and into next.“If the economy continues to evolve as expected, higher interest rates are likely to be appropriate at some point,” he said.“Notwithstanding this, the board does not currently see a strong case for a near-term adjustment in the cash rate.”Despite the solid outlook, Dr Debelle focused on risks, such as US-triggered inflation that would drive up global interest rates and push the Australian dollar down. FLOOD SUBURBS NOW BEATING REST OF BRISBANERBA deputy governor Guy Debelle says tighter lending standards could impact house prices. Photo: Penny Stephens.More from newsParks and wildlife the new lust-haves post coronavirus19 hours agoNoosa’s best beachfront penthouse is about to hit the market19 hours agoDr Debelle highlighted the risk posed by Australia’s high levels of household debt, saying it could weigh on consumer spending if borrowing costs were to rise suddenly.“Household income growth has been subdued for a number of years, which means that a number of households may be carrying a larger mortgage for longer than they expected when they took out the loan,” he said.“While they can service the mortgage, it has consumed a larger share of their income for longer than they might have intended.”HOMELESSNESS A ‘NATIONAL DISGRACE’The RBA is expected to leave interest rates on hold for longer than first thought. Image: AAP/Dean Lewins.Commenting on the recent regulatory pressure on banks to tighten lending rules, Dr Debelle downplayed the likely impact of resets to interest-only loans to more traditional principaland interest loans.“These can see the required mortgage payments rise by nearly 30-40 per cent for some borrowers,” he said.“Our assessment is that there are quite a few mitigants which will allow these borrowers to cope with this increase in required payments, including the prevalence of offset accountsand the ability to refinance to a principal and interest loan with a lower interest rate.“While some borrowers will clearly struggle with this, our expectation is that most will be able to handle the adjustment so that the overall effect on the economy should be small.”The RBA has kept the cash rate unchanged at a record-low 1.5 per cent since 2016.last_img read more

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Swoon-worthy Cannon Hill abode up for grabs

first_imgThere is a stone fireplace.“I wanted a lowset, with lots of and natural light and breezes,” Mr Ingreri said.In the centre of the home is an open-air courtyard, enabling light to all areas of the home, and along the entrance to the home Mr Ingreri planted vines and jasmine.“I want it to be like a big green box when it’s grown, just like the old houses that have vines growing up them in the English countryside.” The house at 3 Mckie Cres, Cannon Hill, is for sale.This Cannon Hill house will make hearts skip a beat.The light and bright home at 3 Mckie Cres was built by builder Peter Ingreri last year for his girlfriend Molly Standfield and is unlike anything in the area. There is a Cape Cod feel to the house.While there are touches of Hamptons style within the home, Mr Ingreri said he took his inspiration from The Cotswolds in south central England.The most notable feature of the house is its jaw-dropping cathedral ceiling with exposed timber panelling and white beams.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours ago The kitchen is simple, yet timeless.That ceiling starts from the open-plan kitchen, living and dining room and flows seamlessly to an alfresco dining area.In the lounge room is a stunning stone open fireplace, contrasting against the crisp white walls. One of the bathrooms at the home.The house is set on a 704sq m corner block, has four bedrooms, the master with an ensuite, and an inground pool. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, 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 Rate1xFullscreenStarting your hunt for a dream home00:51 The ceiling continues outside from indoors. The cathedral ceiling is the star of the house. Vines will eventually grow up over the beams. A beam across the top of the bedroom continues the theme of the house.last_img read more

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State Champs!

first_imgThis is a belated congratulations to the Jac-Cen-Del Lady Eagles who won the 1A State Championship this past Saturday in Indianapolis.  They defeated the Argos Lady Dragons 57-39.  This marks the second state championship for Jac-Cen-Del and the first for the Lady Eagles.Coach Smith’s team was led by Lily Simon with 16 points and Jordan Day with 12.  The Lady Eagles never trailed after the first minute of the second quarter.  Their day was capped off when Abby Wagner received the Mental Attitude Award.Congratulations on a great feat and a memorable season!last_img read more

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Area Boys & Girls Basketball Scores (12-20)

first_imgArea Boys & Girls Basketball Scores.Tuesday  (12-20)Boys Scores.Batesville  65     Union County  57Oldenburg  55     Waldron  35Taylor  46     Lawrenceburg  45Connersville  44     Greenfield Central  37Lanesville  56     Shawe Memorial  32SW Shelby  56     Morristown  53Girls Scores.Columbus East  51     Batesville  39Rushville  63     North Decatur  34Waldron  61     Knightstown  54SW Shelby  47     Morristown  40Greenfield Central  44     Connersville  29last_img read more

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Pair set to leave Saints

first_imgSouthampton duo Dejan Lovren and Calum Chambers are expected to be announced as Liverpool and Arsenal players respectively on Monday. They are now set to be joined at Anfield by Croatia international Lovren, who is expected to be announced as a Liverpool player on Monday. The outspoken 25-year-old has made no secret of his desire to leave the club he joined from Lyon last summer, moving for a deal Press Association Sport understands to be worth £20million. Chambers’ exit has come as more of a surprise, although Arsenal have clearly seen enough from the versatile right-back to make their move. It is understood a deal should be announced on Monday as Arsene Wenger adds a third Saints academy graduate to his squad, having previously signed Theo Walcott and Alex Oxlade-Chamberlain. Press Associationcenter_img The summer of change at St Mary’s continues apace, with manager Mauricio Pochettino’s exit to Tottenham compounded by the departure of a number of key players. Left-back Luke Shaw became the most expensive teenager of all time in his move to Manchester United, while Adam Lallana followed Rickie Lambert in moving to Liverpool. last_img read more

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Pliskova earns breakthrough win to reach US Open semis

first_imgBy Steve KeatingNEW YORK, NY (Reuters) – Karolina Pliskova, a grand slam underachiever, took a big step towards shedding that unwanted label by sweeping past Croatian teenager Ana Konjuh 6-2, 6-2 yesterday to roar into the semi-finals of the US Open.Pliskova arrived at Flushing Meadows as the only player ranked inside the top 20 yet to reach the fourth round at one of tennis’s four blue riband events but the 10th-seeded Czech made her trip to the semis look like nothing new as she overwhelmed 18-year-old Konjuh in 57 minutes.“It’s an amazing feeling, I am so excited to be in my first semi-final especially in this tournament I very much love New York and hard court season,” said Pliskova, who will next face either world number one Serena Williams or Romanian fifth seed Simona Halep.“I think I played a very good match today.“I did a quick break in the first game which helped me and I was more calm then and going for my shots.”The big-hitting Czech, who has fired more aces this season than any other player, opened the match with a bang, breaking the unsteady teen on her opening two serves en route to a 4-0 lead.Pliskova lost only one point on serve in the opening set as she swept past the reeling Croatian in 28 minutes.Konjuh began to find some rhythm and confidence near the end of the first and start of the second but could not keep it going and again found herself down a break 3-2.At that point there was no way back for the 92nd-ranked Croatian as Pliskova steamrolled through four straight games finishing her opponent off with back-to-back aces.“I wasn’t at my best level today for sure, but she was just too good,” said Konjuh, who upset fourth seed Agnieszka Radwanska to reach the quarter-finals. “Her serve is just too good.“Today on the court, you know, she found her rhythm and took the opportunities that I gave her.“This is a great result for me. Now I know that I got that something to be in the top.”last_img read more

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Brains react more to pain of enemies

first_imgFollow us on Twitter @dailytrojan A USC study recently demonstrated that the regions of the brain most associated with empathizing with pain, as well as reward processing, are more activated when people witness hateful individuals in pain, as opposed to likeable people.The study, which appeared in the journal Frontiers in Psychology this month, gives insight into the complexity of the human brain in relation to social emotions toward enemies as opposed to friends.Lisa Aziz-Zadeh of the Brain and Creativity Institute at the Dornsife College of Letters, Arts and Sciences, Glenn Fox, a doctoral candidate for neuroscience at USC and Mona Sobhani, a former USC graduate student and current postdoctoral researcher at Vanderbilt University collaborated on the study. The USC Division of Occupational Science and Occupational Therapy funded the research.In the experiment, Caucasian male Jewish participants became acquainted with stories about eight different people -— four of whom were hateful, anti-Semitic individuals and four of whom were tolerant, non-hateful individuals. Elements of these stories were designed based on documentaries and social psychology findings.After gaining a deeper understanding of the background of each individual, participants were scanned with functional magnetic resonance imaging as they watched videos of both hateful and likeable individuals in pain. Results showed increased responses in reward processing, emotion regulation in the frontal regions and the “pain matrix,” a network of brain regions associated with experiences of physical pain.The abstract of the paper suggests that the brain’s heightened activity might be in response to “the threat posed by witnessing the pain of a hateful individual more so than the desire to empathize with a likeable person’s pain.”According to Fox, the pain is similar to one’s experience watching fictional pain on a telvesion show or a movie.“We actually think it’s a lot like the process of watching a movie in which the villain is harmed,” Fox said. “At the end of the movie when things are really coming together, you really need to know just how hurt the villain is in order to predict his future behavior. You need to know, is this person going to retaliate? Is he going to be done for or is he going to strike out harder?”Though the pain matrix is associated with feelings of empathy, the increased level of activity that has been observed might not be attributed to empathy so much as pain processing.“We don’t think there’s much to do with empathy in this case,” Fox said. “We don’t think that there’s a need to empathize with the villain here. We think it arises more from the need to closely understand the pain of somebody quite frightening.”The one prediction that the study confirmed was that reward processing was heightened when participants witnessed the suffering of hateful individuals. Combining the expected and the unexpected results, the study showed elevated activity in both the reward system and the pain matrix.“What it shows is that the brain is really flexible in mapping how it processes other people’s pain and suffering. It shows that these circuits are working in a really interesting way,” Fox said. “At the level of the brain, how we feel about the person can also influence how we understand their pain.”Michael Lee, a sophomore majoring in biochemistry, found the study’s results intriguing.“If someone’s hurting you and you don’t like them, you’re still going to understand that they’re in pain,” Lee said, but he added that he didn’t expect that study participants would feel more awareness of pain for the villain.Other students, however, disagreed. Stephanie Yi, a junior majoring in psychology, said that the study does make sense, but with conditions.“I wouldn’t explain it as an empathic emotion. Rather, it seems to be more of a sympathetic urge. Everything is negatively connected instead of positive[ly]” she said. “This is more about surface-level emotions instead of deeper understanding.”In the future, Fox said that studies will be focused on the emotion regulation aspect and how concentration, consciousness and cognition demands in general stimulate change in brain activity toward others’ pain.Sobhani expressed optimism for future discoveries as well.“As we compile [more] of these studies, we can start narrowing down what’s going on in the brain — how these networks are working together, what they work on, when, how much and so on,” she said. “Each study is one little piece of the puzzle. One day, it will be complete. What’s really great about bringing attention to the experiments that go on at the university is that … you never know who it’s going to inspire or what future studies will branch off from it.”last_img read more

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Track team wins five titles at Pac-10 Championship

first_imgBlazing speed · Ahmad Rashad won the 100-meter (10.13 seconds) and the 200-meter (20.82), while finishing second in the sprint relay. – Dieuwertje Kast | Summer TrojanAfter a rough and windy start, USC’s track and field team managed to pull it together and leave the two-day Pac-10 Championship at Hayward Field in Eugene, Ore., with five Pac-10 titles, a men’s second place overall win with 117 points and a women’s fourth place ranking with 108 points. The team could not, however, muster up enough points to beat the home team, University of Oregon, who took first place in both men’s and women’s competition for the first time in the school’s history.“This was a very competitive conference,” coach Ron Allice said. “Anytime you score over 100 points in the Pac-10, which is the most balanced conference in the NCAA, normally you would win. “In a lot of cases we would have won this conference with these point totals, but it’s significantly different on your home turf. In a neutral site [Oregon] would not have been that dominant.”The first day of competition proved to be a difficult one for the Trojans in terms of getting those much-needed points, but the most unexpected loss was during the javelin competition. USC senior Corey White, who previously held the Pac-10 title, was out-thrown by the Duck’s Cyrus Hostetler’s 250-05 throw by five feet. “[White and Hostetler] had the two best throws in America, both collegic and non-collegic,” Allice said. “The series that White put together was unmatched compared to his competitor. The difference is that Corey’s height pattern is much more vertical than [Hostetler’s] and when you’re throwing into a headwind like we were this weekend, it becomes a disadvantage. Without that you would see that Corey is the better javelin thrower and that will reflect in the NCAA.”Junior Ahmad Rashad dominated the short-distance races, where he took the titles for the 100-meter in 10.13 and 200-meter in 20.82, and was second in the sprint relay. Sophomore Oscar Spurlock also nabbed a title in the 110 high hurdles in 13.56, along with senior Eva Orban in the women’s hammer in 67.39, and the men’s 4×100-meter relay in 3:06.30. Senior triple jump Aven Wright shared the sentiments of Allice about the aftermath of this weekend. “As a team we competed well. Everyone, I feel, scored as they were supposed to. Getting over 100 points is always a big deal, and everyone gave one hundred percent,” Wright said. “Oregon was able to have a lot of people in every event, especially in the long distance running, and that really gave them an advantage as far as points were concerned.” Wright felt the team members as a whole needed to work on consistency with its approach in their respective competitions. He and Allice repeated the message that the team, though young, seems to be at its peak; it just need to focus on staying there.“I would take nothing away from their performance,” said Allice. “They performed above and beyond what we could have asked for. Orban really showed up in her hammer and had a heck of a meet.”The women’s team proved itself in this championship, Allice said — so much so that even though they finished fourth, Allice believes that without some minute technicalities, they could have easily taken third or a close second.  In reality, the whole team is  young. The only athletes not returning next year are seniors White and Wright, so the Trojans have a lot of room to grow by next season. This season, though, is hardly over. With the NCAA finals, regionals and the U.S. championships still on the calendar, the team’s solid showing in the Pac-10 championship shows that this youthful team may be ready to meet the challenges ahead of them.Allice pointed to the dual meet against UCLA as a possible turning point of the season. “That [dual meet] that brought the gauntlet back to USC really helped us,” Allice said. “It just shows that same correlation with how competing at your own facility and having that support-base certainly gives a team an up. Prospects next year will be greater. “We’ll be a handful for this [division] next year. I’d say we should definitely reach top 10 in the country, if not top 5, in the next couple weeks.”last_img read more

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USC claims victory over UCLA at home

first_imgThe intensity and emotion was palpable as host USC beat UCLA 5-2 Wednesday in a match where neither team was willing to give up without a long, hard fight.Stellar · Freshman Emilio Gomez helped lead USC to victory over UCLA at home with his strong performances in doubles and singles play. – Mannat Saini | Daily Trojan USC freshman Emilio Gomez partnered with junior Daniel Nguyen to beat the Bruins’ Warren Hardie and Daniel Kosakowski 8-4. Gomez dominated in singles play, winning 6-2, 6-1 against Maxime Tabatruong.“To have a freshman come through like Emilio is a big statement,” said USC coach Peter Smith. “He became a man against Stanford when he was down set points and came back and won. He continued that today.”The Trojans (10-2) started doubles play down on all three courts, but would make a comeback to win 3-0 against the Bruins. Freshman Ray Sarmiento was back in the lineup with partner junior Steve Johnson after missing some play with a wrist injury that is still healing.“Steve and I were just saying, we’ve got to make them play,” Sarmiento said. “Make them beat us. It went our way and we won.”Johnson was visibly excited to have his teammate and partner back on the court with him. Although the pair started off down a break, they eventually rallied.“I was excited,” Johnson said. “I know his wrist has been bothering him, but he’s a fighter. He’s going to give us our best chance to win. He put the team first, and that’s a big thing.”Also in doubles play, senior Jaak Poldma and sophomore J.T. Sundling fought back against the Bruins’ Adrien Puget and Holden Seguso to win 8-6. Sundling, who suffered knee pain during his singles match against Seguso, fell 3-6, 2-6.The Trojans’ dominance in doubles play was the nail in the coffin for the Bruins, who could never quite regain their momentum.“I felt like if we won doubles, we would be good to win the match,” Smith said.Still, the Bruins were aggressive and came to battle on the singles side, but USC went 4-2, with its only other singles loss from Nguyen in straight sets. Nguyen lost 4-6, 2-6, to Amit Inbar.Johnson raked in a 6-2, 6-2 victory against Kosakowski to maintain his recent No. 1 national ranking.“It’s exciting,” Johnson said. “I’ve worked hard this year and I think it was a goal of mine to get back to the top and keep it rolling from here.”Poldma won his match against UCLA’s Clay Thompson 6-2, 6-3, and continued to show his veteran consistency and calm.Even after the match had been decided, Sarmiento played on into a third set tiebreaker after being down 3-6, and coming back 6-4. He beat Puget 10-7 to take home the victory.“I just told myself I wasn’t going to lose,” Sarmiento said. “No matter if we won the match or not. I wanted to have some pride. During singles I was not feeling well. I thought there was no way I was going to win this match, but I just kept sticking with it.”Beating UCLA might technically be just another victory, but it is undoubtedly much more than that to USC.“We haven’t beat them here since I’ve been here, so it was good for us to really go into the second half of our season with a big win against first Stanford and now UCLA,” Johnson said.last_img read more

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