Australia – Aug Housing Finance
12/10/2018 11:07 am MYT
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In seasonally adjusted terms, the total value of dwelling finance commitments in Aug decreased 2.1% from Jul. Owner-occupied housing commitments and  investment housing commitments respectively fell 2.7% and 1.1% from the preceding month – see table 1.

Year-on-year, the total value of owner-occupied housing commitments and investment housing commitments respectively fell 3.9% and 20.5% – see figure 1. Looking ahead, the growth of investment housing commitments should remain mild, due to tighter lending standards.

Note from Publisher
This month marked the 74th anniversary of the end of World War II (WW II). WW II was the deadliest military conflict in history, claiming 50-60 mln lives. The number of civilian casualties, estimated to be 45 mln, is greater than that of the military. Millions were injured and about 30 mln civilians were displaced. Certain races were nearly decimated. Poland and the Soviet Union respectively lost 16% and14% of their populations. Although the Allied powers emerged as the eventual victor, in actual fact, no one is a winner; in a war, everyone is a loser.

Between WW I and WW II, there were about two decades of uneasy and fragile peace. From the end of WW II until now, the human race has managed to live together largely in peace for about three quarters of a century. After WW II, many international organisations were set up to promote inter-governmental corporations and serve as platforms for settling disputes in a peaceful manner. The stable and peaceful environments have allowed the accumulation of knowledge and much technological breakthrough to take place, which in turn has significantly lifted the quality of lives for the human race.

However, the memory of the horrors of war is fast fading. Many politicians and people have been taking peace for granted and are playing with fires which seriously threaten the fragile global peace. The commemoration of the end of WW II should receive more prominence, lest the world forgets the cruelty of war and the preciousness of fragile peace.
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