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☆ Buying a house? These US cities now among the world’s most ‘impossibly unaffordable’
▼ + stars: | 2024-06-14 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +4 min

Australia is the only other country besides the US to dominate the “impossibly unaffordable” list, led by Sydney and the southern cities of Melbourne in Victoria and Adelaide in South Australia. But it also blames soaring house prices on land use policies, including “urban containment,” a kind of planning designed to stop urban sprawl. “Toronto and Vancouver show that the cost of taming expansion is unacceptably high: inflated house prices, higher rents and, for increasing numbers of people, poverty,” Cox wrote. The report was compiled by researchers from the Center for Demographics and Policy at Chapman University in California and the Frontier Centre for Public Policy, an independent public policy think tank in Canada. Top 10 “impossibly unaffordable” cities

Persons: it’s, William West, Tyrone Siu, Wendell Cox, Valier, ” Cox, ”, St Louis Organizations: CNN, Getty, Hong, Victoria Harbour, Frontier Centre, Public Policy, Canada, Canadian, New, St, Chapman University in Locations: United States, ”, West Coast, Hawaii, California, San Jose , Los Angeles, San Francisco, San Diego, Honolulu, Australia, Sydney, Melbourne, Victoria, Adelaide, South Australia, Maribyrnong, AFP, Hong Kong, Singapore, New Zealand, Toronto, Valier Macon, Vancouver, Pittsburgh, Rochester, Edmonton, Calgary, Canada, Blackpool, Lancashire, Glasgow, United Kingdom, Perth, Brisbane, Chapman University in California

The Melbourne skyline is reflected in the Maribyrnong River in the early morning light on April 18, 2023. Asia-Pacific markets were range bound on Tuesday as investors assess comments from the European Central Bank officials signaling that rate cuts may be on the horizon for the world's largest economic bloc. Japan's Nikkei 225 also was trading close to the flatline, with the broad based Topix also near flat. In a speech Monday, Olli Rehn, ECB governing council member and head of Finland's central bank, stressed inflation in the euro area was falling in a "sustained way." Inflation in the euro zone held steady at 2.4% in April, marking the seventh straight month it has been below 3%, despite a slight rebound in December.

Persons: Kospi, Olli Rehn Organizations: European Central Bank, Nikkei Locations: Melbourne, Maribyrnong, Asia, Pacific, Australia

☆ Australians take stock of flood damage amid warnings of more rain
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Oct 17 (Reuters) - Thousands of Australians on Monday returned to homes and businesses to assess flood damage even as evacuation warnings remained in inland regions of the southeast and authorities warned of more rain ahead which could trigger renewed flooding. Major flood warnings are in place across many regions despite little rainfall over the weekend with many swollen rivers only expected to reach peak flood levels this week. Register now for FREE unlimited access to Reuters.com Register"There is further rain expected later this week, so it remains a very dangerous situation." The weather bureau forecast another wild weather system that could bring rains up to 50 mm (2 inches) across some flood-hit regions. Register now for FREE unlimited access to Reuters.com RegisterReporting by Lewis Jackson and Renju Jose; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

☆ Australia PM to tour flood-hit Victoria as flood crisis continues
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +2 min

Australian Prime Minister Anthony Albanese speaks during the Australia-New Zealand Leaders' Meeting at the Commonwealth Parliamentary Offices in Sydney, Australia, on Friday, July 8, 2022. Steven SAPHORE/Pool via REUTERSSYDNEY, Oct 16 (Reuters) - Australian Prime Minister Anthony Albanese said on Sunday he would tour flood-hit parts of Victoria including Melbourne as three states continued to grapple with a flood crisis sparked by days of heavy rain. "This is a very severe weather event that's having an impact in urban communities but also in regional communities right throughout Victoria." In Melbourne, a flood clean-up was under way after the Maribyrnong River burst its banks on Friday, inundating suburbs close to the central business district. In Tasmania, 22 flood warnings were current, with most located near Launceston, the state's second biggest city.

☆ Australia PM tours flood-hit Victoria state; evacuations, sandbagging underway
▼ + stars: | 2022-10-16 | by ( ) www.cnbc.com time to read: +3 min

Australian Prime Minister Anthony Albanese speaks to media on June 5, 2022. Australian Prime Minister Anthony Albanese was in Indonesia on Monday to meet its President Joko Widodo and shore-up relations between the two neighbors, in his first bilateral visit since being elected last month. Australian Prime Minister Anthony Albanese on Sunday toured flood-hit parts of Victoria state, including the city of Melbourne, as three southeastern states continued to grapple with a flood crisis after days of heavy rain. Earlier, the prime minister flew over flood-affected areas of regional Victoria with the state's premier, Daniel Andrews. Victoria State Emergency Service chief operations officer Tim Wiebusch said the state was experiencing "blue sky flooding", with heavy rains having passed.

☆ Australian flood crisis: southeast states on emergency alert
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +3 min

SYDNEY, Oct 15 (Reuters) - Emergency warnings remained in place on Saturday for parts of Australia's southeast as floods, sparked by days of heavy rain, impacted three states, with hundreds of people having to be rescued from floodwaters. Large parts of Australia's eastern states have been hit by severe flooding since early 2022, with the country now enduring a third consecutive La Nina weather event bringing heavy rains. Bureau of Meteorology forecaster Jonathan How said while heavy rain had cleared, flooding was still widespread. In the west of Melbourne city, a flood clean-up was underway after the Maribyrnong River burst its banks on Friday. Footage on social media showed Melbourne residents clearing water from homes and emergency services personnel on the scene.

☆ Explainer: Australia floods: why the country is battling weather again
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +4 min

A home is inundated by floodwaters, following heavy rains and severe flooding in the McGraths Hill suburb of Sydney, Australia, July 6, 2022. Another contributor is the Indian Ocean Dipole - a climate phenomenon that affects rainfall patterns near the Indian Ocean, including Australia. For the coming months, Santoso predicted conditions would ease as the effect of La Nina and Indian Ocean Dipole dissipate, especially over summer. Even so, the country's weather forecaster expects that with another La Nina underway, eastern Australia should experience above-average rainfall in spring and early summer. With rivers high and dams full across much of eastern Australia, any rainfall now has the potential to cause widespread flooding, the forecaster said this month.

SYDNEY, Oct 14 (Reuters) - Thousands of people across Australia's southeast were asked to evacuate their homes on Friday, including some in a western suburb of Melbourne, after two days of incessant rains triggered flash flooding and fast-moving waters burst river banks. Upstream in Shepparton, rising flood waters are expected to surpass the 1974 peak by Tuesday and threaten over 4,000 properties. 1/5 A man wades through floodwaters amidst evacuation orders in the Maribyrnong suburb of Melbourne, Australia, October 14, 2022. Rains had eased by Friday afternoon but the weather bureau has warned of another potential wild weather system next week. Devastating floods have repeatedly struck Australia's east coast since early last year because of a multi-year La Nina weather phenomenon, which brings more rain.

Many rivers in Victoria, including the Maribyrnong in Melbourne's west and the Goulburn further north, reached major flood levels, prompting the nighttime evacuation of residents. "It's far from over, we'll see waters rise," Victoria Premier Daniel Andrews told the ABC. "We'll see more and more waters continuing to rise, more and more houses being inundated, more and more communities being closed off." Andrews said the state's purpose-built COVID-19 quarantine facility, closed last week after Australia scrapped isolation rules, could be reopened to shelter flood-impacted residents. Though heavy rains are expected to ease from late Friday, flooding could continue through the weekend, officials said.

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