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House prices rise, affordability expected to worsen despite property slowdown later this year: CBA By business reporter Michael Janda Updated about 3 hours ago Auction sign on house replaced with sold sign Photo: Sydney, Melbourne and Hobart led gains for the month, quarter and year. (ABC News: Ian Cutmore) Related Story: Property investor borrowing drives credit surge Related Story: Property investors lead home loan surge Related Story: Wealthiest suburbs among most vulnerable to mortgage stress Map: Australia If you thought it was hard to get into the housing market, it may yet get worse unless the Federal Government changes tax policies to reduce investor demand. Key points: Sydney home prices up 16pc over 12 months, Melbourne up 11.8pc CBA economists call for "gradual reforms to both supply and demand issues" Bank regulator likely to intensify investor loan crackdown That is the warning of economists at Australia's biggest mortgage lender, the Commonwealth Bank.

Why probability and understanding statistical fallacies matters Some of our most important decisions are shaped by something as random as the order in which we make them. The gambler's fallacy, as it's known, affects loan officers, federal judges -- and probably you too. How to avoid it? The first step is to admit just how fallible we all are.

It's not just disadvantaged and vulnerable groups that struggle with financial decision-making. People who are highly educated in finance also make poor decisions - for instance, by focusing too much on growing their assets and ignoring risks. But studies show that when regulation is effective and the financial system can be trusted, even consumers with limited financial knowledge and information-processing capabilities have the potential to deal with complex financial decisions. For example, when considering mortgage protection insurance, applicants stand to benefit from knowing the actual risk of events like serious illness or injury that can affect their ability to meet monthly loan repayments.

Algorithms are increasingly making decisions that affect ordinary people's lives. One example of this is so-called "algorithmic lending", with some companies claiming to have reduced the time it takes to approve a home loan to mere minutes. But can computers become better judges of financial risk than human bank tellers? Some computer scientists and data analysts certainly think so.

The New York Times has run a couple of pieces comparing university tuition fees in America with the US, UK, and other systems around the world. These pieces look at the advantages and disadvantages of the different systems (with Australia coming out as having some clear benefits)