Executive Chairman of @ybrhomeloans and Chairman of Mentored.
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Articles by Mark Bouris
Interest rates: Finance expert Mark Bouris’ brutal RBA call
COMMENT Everybody assumes that the only way to kill inflation is high interest rates. It’s just not true. A lot of the inflation in the economy can be solved by common sense policy. Gas is a good example. Businesses and households right across the country are going broke because they can’t afford gas. That’s even though Australia is one of the world’s largest gas producers. It’s absurd. The problem is we export all our gas.
Interest rates: Mark Bouris says RBA ‘killing the economy’
OPINION Dear RBA, It’s time for a rate cut. There’s definitely still an inflation issue out there. But you can’t throw the baby out with the bathwater. High interest rates have brought down inflation. But they’re also killing the economy. Just ask business owners … Over the last two years, a record 26,000 businesses have become insolvent. Last November was the worst month for business insolvencies on record. In just that month alone, 1442 businesses went under.
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‘Forced to sell’: Expert’s chilling warning
Is Melbourne’s property market losing its shine? The Victorian capital used to have the second most expensive housing in Australia. But now Melbourne comes in at sixth place. Believe it or not, property in Melbourne is now cheaper than property in Sydney, Brisbane, Perth, Adelaide and Canberra. Darwin and Hobart are now the only cities where property is more affordable than in Melbourne. This could be bad news for the Sydney market. Sydney house prices usually follow the Melbourne market in lock-step.
Absurd rule stopping Aussies cashing in on $10,000
Troy Armstrong: Man accused of killing his ex-wife Kristy after running her off the road is found... A man accused of killing his former wife by running her off the road has been found dead in his cell just days before the one-year anniversary of the …
Absurd rule stopping Aussies cashing in on $10,000
Updated 6 June 2024 at 12:31 am·3-min read Mark Bouris is leading the call for state and federal governments to make it easier for first homebuyers to get onto the property ladder. (Source: Getty) There’s a long list of solutions to the housing crisis. But when discussing them we have to be realistic. Because change is hard. That’s why we have to find solutions that nobody can oppose. That way we can get the ball rolling - without getting bogged down in politics.
‘Not good enough’: Mark Bouris has a grim warning for Australia
Federal Budget Don't miss out on the headlines from Federal Budget. Followed categories will be added to My News. It’s time to have an honest conversation about the housing crisis – because it’s not going to get better anytime soon. If you don’t believe me – take a look at the latest stats from the Australian Bureau of Statistics. In March, only 12,500 homes were approved for construction. That’s the worst result since April 2012. It’s almost 40 per cent below the government’s housing target.
Tradies are the hidden heroes of the housing crisis - why don't they get a fair go?
Updated 11 April 2024 at 11:06 pm·2-min read Australia is in the middle of a massive housing crisis. The finger-pointing game is well underway. But as per usual, the truth comes down to basic economics. First - there’s demand. Record-high immigration has pushed rents and house prices sky-high. This has left many young Australians and low-income families in the lurch. The second factor is supply. Or in other words, our inability to build enough houses. I’m sure you’ve read the headlines.
Finance guru’s radical solution to housing crisis
OPINION Don’t expect the housing situation to get better any time soon. We have massive demand – fuelled by record population growth. We have low supply. The latest figures show that housing approvals have fallen to a decade low. The number of loans to build or buy a new home have crashed to record lows. Construction companies are going broke practically daily. I don’t see any genuine solutions being tabled.
‘Mad stuff’: Finance guru slams Labor move
COMMENT For almost three decades, I have been in the business of providing home loans to Australians, and I can safely say I’ve never seen anything like this. The number of loans provided for the purchase or construction of new homes has fallen to its lowest levels since the Global Financial crisis (GFC), according to the latest data. The number of first home buyers remains at its lowest in over a decade. New house approvals have fallen over 15 per cent compared to last year.
‘Slaughter’: Four months until crisis explodes
I’m sorry to be the bearer of bad news, but the truth matters. Although the Reserve Bank has held off on hiking interest rates for three of the last five months, there’s much more pain to come. Before the end of the year, hundreds of thousands of households on cheap fixed-rate home loans will move to high variable rates. This means that families right across the country will see the rate on their mortgage go from around 1.9 to 2.5 per cent to between 6 and 7 per cent.
‘Peaking right now’: Mortgage fiasco hits
It’s been almost two weeks since Treasurer Jim Chalmers announced that Michele Bullock will take over from Philip Lowe as Reserve Bank Governor – and it’s clear she has her work cut out for her. First, Bullock will be tasked with overseeing the Albanese government’s new reforms to the Reserve Bank, which includes the abolition of the board and the establishment of two separate bodies – one that sets interest rates and another that oversees the bank’s governance and day-to-day operations.
‘Hurting’: Major RBA failing exposed
If I was Reserve Bank Governor Philip Lowe, I would not be hiking interest rates any further. In the three months to April 2023, an estimated 1.38 million Aussie mortgage holders were at risk of experiencing mortgage stress after the RBA hiked interest rates to a decade high. That’s almost one-third of mortgage holders across the country. Every day, more and more Aussie mortgage holders move from low fixed rate mortgages taken on during the pandemic to high variable rate mortgages.
Mark Bouris DEFENDS Philip Lowe
Home News Mark Bouris DEFENDS Philip Lowe Mark Bouris DEFENDS Philip Lowe The performance of the Reserve Bank is in the spotlight.Chairman of the Yellow Brick Road Mark Bouris has defended the criticisms the Governor faces.Governor Philip Lowe repeatedly assured Australians that interest rates did not need to rise until 2024, and then they all hit at once.Australia went from a record low of 0. See more highlights from Ben Fordham below:1% in May last year, to the current rate of 3.
Friends With Money #20: Paul Clitheroe on celebrating 250 issues of Money
The property market has boomed, interest rates have fallen, and more Aussies have started investing in shares since Money magazine first hit newsstands more than 20 years ago. To mark the 250th issue of Money, out now, we sat down with someone who was there at the very beginning. Founder and editorial advisor Paul Clitheroe says that the core mission of the magazine hasn't changed. "The fundamental premise is decent common-sense advice, avoid scams, and make better decisions...
How Linktree attracted 12 million users in just five years
Linktree co-founder Alex Zaccaria. Source: supplied. 5 minute Read Linktree’s early growth story is a spectacular one, growing from one user to 12 million within five years. SmartCompany Plus interviewed co-founder Alex Zaccaria, along with head of growth Jess Box, to discuss how the company capitalised on the product’s innate virality, and how the business needed to change as it scaled.
Resource Guide to selling your business
This piece covers everything you need to know when selling your business, from due diligence expectations to the disruption involved, and how to manage contracts, staff, data, and potential buyers. Written by a lawyer specialising in selling and acquiring businesses, who has also sold their own family business, it explains: How to structure exclusive periods for interested buyers; Where it’s worth seeking outside advice; and Where sales often trip up, and how to plan for that.
Checklist: 20 things to do before selling your business
Get your ducks in a row. Source: Unsplash/Joshua Coleman 2 minute Read For many entrepreneurs, selling the business you’ve spent time and tears on is the end goal, the final payday. To put yourself in the best possible position, SmartCompany Plus subscribers can use this checklist and methodically work through any potential issues that could affect the sale. More for you from PLUS Sign in To connect a sign in method the email must match the one on your SmartCompany Plus account.
Mark Bouris led a coup and won a business. Now, he has regrets
This exclusive extract from Mark Bouris’ latest book, Rise, shows that while ambition is a great motivating force, when it is followed unchecked, you can make mistakes. When Bouris, the self-made founder of Wizard Home Loans, was a junior partner at an accounting firm, he got a first-hand taste of their standard business model: bring young people in, get them to work relentlessly for the senior partners for 15 years until they become seniors themselves, and then repeat the cycle.
Mark Bouris led a coup and won a business. Now, he has regrets
Below is an extract from Mark Bouris’ latest book, Rise: How YOU can succeed in business, in your career, and in life, which covers the lessons he’s learnt from growing up in Punchbowl, Western Sydney, and founding one of the most disruptive financial services companies in Australia.
Business trends of 2021: here’s how to thrive in the new year as a small business
As the world continues to shift with the dynamic economic environment, adopting modern technologies has become a non-negotiable for small to medium businesses seeking growth in a post pandemic era. A recent study by Lenovo found that millennials (79 per cent) are most likely to agree that their companies need to do more with newer technologies if they are to stay competitive post-pandemic, followed by Gen Z (61 per cent) and Gen X (59 per cent).
Mark Bouris’ brutal questions for businesses in wake of bushfires
It would be easy to think the worst of Australia’s devastating bushfire season is finally over, at least for now, with most of the wild blazes that consumed towns and bushland now under control, or on their way to being contained. But the truth is that, for the tens of thousands of small business owners in the areas worst hit by the fires, or the thousands more still crippled by drought, the real pain is only just beginning. See, when a disaster ends, so does the news coverage.
Job interview advice: The one question you need to know how to answer
You might think you get to a certain point in your professional life when job interviews somehow cease to matter, but that’s rubbish. Because what is a job interview if not an opportunity to sell yourself? And I can tell you there’s never a moment when you can afford to stop doing that. And it just so happens that I know a thing or two about tough interviews, both giving them and being on the receiving end of the hard questions.
Mark Bouris on the winners from Australia’s retail recession
You can’t have missed the headlines leading the news this week. About our looming retail recession, and how our biggest retailers are struggling to remain competitive — or even alive — in the economic climate. Australia’s retailers must think they’re trapped in a bad dream they can’t wake up from.
Mark Bouris: Biggest issue with shaky housing market
The one question I’m asked more than any other is whether now is the right time to invest in property. Has the good ship real estate finally righted itself and is no sailing for calmer waters? Or is there yet more pain to come? Usually I’d try to answer, but the truth is, right now, my view is largely irrelevant. That’s because if you can’t borrow money to invest with, it doesn’t matter if the property market is heading for boom or bust, you simply won’t be on the train either way.
Interest rates: Reserve Bank of Australia fast running out of options
It’s only too easy to get carried away with the idea of a cut to official interest rates. How could you not? Show me a homeowner who wouldn’t welcome a weekly cut to their mortgage payment and I’ll show you someone who has more money than sense. But with all the back and forth over which lenders are passing on the full weight of the cut and which ones aren’t, it’s easy to lose sight of the dark truth behind the RBA’s changes to the official cash rate.
Mark Bouris: Federal election result will boost property market
OPINION The morning after any election is always the same: half the country jumps for joy, the other half weeps into their cereal. But no matter which side you landed on, come Sunday morning, there is one giant group of Australians who should be collectively sighing in relief.
Federal Budget 2019: Mark Bouris on small business tax write-off
You’ve got to love a federal Budget that arrives with an election looming, don’t you? There’s suddenly so much cash to splash, what with both major parties trying their absolute hardest to secure those last-minute votes. But of all the big numbers you’ve heard thrown around over the past week, there’s one that matters more than most to this country’s small-business owners. And that number is $30,000.
Mark Bouris on being mentored by Kerry Packer
The kind of people who are brave and ballsy enough to step outside the nine-to-five comfort zone and go it alone in business tend to be confident personalities. Believe me, you need some self-belief to make it, but one big mistake that a lot of people make when starting out is believing that they know it all, because nobody does.
Mark Bouris: How universities are failing our students
Camera IconYour university degree might just be a huge waste of time.Picture: istock, iStock After the incredible and frankly criminal revelations that have come out of the recent royal commission into the banking industry, it’s high time we ran a similarly shrewd microscope over another huge industry that’s fleecing people out of their cash — the tertiary education system.
Mark Bouris: How universities are failing our students
After the incredible and frankly criminal revelations that have come out of the recent royal commission into the banking industry, it’s high time we ran a similarly shrewd microscope over another huge industry that’s fleecing people out of their cash — the tertiary education system.
PodcastOne Archives
Podcast One is the leading destination for the best and most popular podcasts across many top genres, from sports, comedy, celebrity culture, entertainment to news and politics. PodcastOne is the destination for all the podcasts you really care about! Find the PodcastOne apps in the Apple Apps and Google Play stores.
PodcastOne Archives
Podcast One is the leading destination for the best and most popular podcasts across many top genres, from sports, comedy, celebrity culture, entertainment to news and politics. PodcastOne is the destination for all the podcasts you really care about! Find the PodcastOne apps in the Apple Apps and Google Play stores.
PodcastOne Archives
Podcast One is the leading destination for the best and most popular podcasts across many top genres, from sports, comedy, celebrity culture, entertainment to news and politics. PodcastOne is the destination for all the podcasts you really care about! Find the PodcastOne apps in the Apple Apps and Google Play stores.
PodcastOne Archives
Podcast One is the leading destination for the best and most popular podcasts across many top genres, from sports, comedy, celebrity culture, entertainment to news and politics. PodcastOne is the destination for all the podcasts you really care about! Find the PodcastOne apps in the Apple Apps and Google Play stores.
Mark Bouris On His Personal Watch Collection
Yellow Brick Road’s executive chairman, Mark Bouris, details his familial attachment to certain timepieces in his collection. The first decent timepiece I got was from Mum, when I was 14 years of age. It was from [jewellers] J Farren-Price and it was for my birthday. To be honest, I didn’t really appreciate the importance of what Mum had done, as I had no idea about watches or anything like that.
Speak up now: Creating a fairer financial system
You may have caught wind that there will be an inquiry into the financial system early in the New Year. Whilst this news is probably snooze inducing for the most people, there are plenty of reasons why you should pay attention. The financial system takes our deposits and lends us money for a home or a small business. It can help determine whether we get wealthier or poorer – and it can affect whether we can afford to fulfill lifelong dreams of buying property or retiring with some comfort.
Confidence in new government a great start: Mark Bouris
The election is finally out of the way and the government has a big agenda ahead of it. Right out of the gates it has announced a tax review, a financial services review, a competition review, and a review of government spending. Importantly, the government has said that it will consult with and wants to hear from the people of Australia.
Let's lose the jargon around superannuation: Mark Bouris
Technical terminology is okay if it provides shorthand for complex ideas. But in superannuation, jargon tends to push people away. That’s a pity, because super is built on basic concepts. So if you’re feeling a bit confused by it all, here are the five ideas you need to get your head around it: • Super is a tax arrangement: it is not an investment.
Superannuation debate missing the bigger issue: Women disadvantaged in current system
There was a big argument about superannuation earlier this year. Unfortunately, it was about taxing the ‘fabulously wealthy’ and missed a much bigger issue in superannuation: the disadvantage to women. Superannuation is predicated on time spent in employment, and the gross income of each member. So while the current median super balance of men aged 35 to 44 is around $41,000, for women of the same age it’s $22,600.
The Bucket List
The Bucket List is a movie about a list of things that two men plan to achieve before they die. But there’s another kind of bucket list – the things you need to take care of before you die. We avoid talking about them yet they are the things you can do to make life better for a whole bunch of people, including your spouse, kids, employees and yourself: 1.
Australia escaped the GFC through saving and hard work, not luck
It’s become the norm to read about our great luck as Europe and the United States wrestle with soaring debt and high unemployment, and Australia just sails through. But I’m thinking that Australia’s excellent response to the GFC is as much about individual austerity and sacrifice as it is about exports to China and economic management. There are a number of factors operating on our economic wellbeing right now that average Australians deserve a pat on the back for. For a start, we are saving again.
Slashing rates could prevent an economic disaster
A few months ago I started a public awareness campaign, which we called "The RBA Appeal", in an attempt to draw the RBA’s attention to the underlying softness in the Australian economy, which could be exacerbated by risks offshore. It appears that the economists are starting to listen: Westpac’s Bill Evans has done a 180-degree turn from predicting rate hikes to now forecasting four rate cuts.
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