Aussie Dollar Plummets
Joined: Aug 2006
Posts: 302
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From: All over the place
Yes it was aggressive...hollering from the rooftops - sorry.
Every downturn we have the same 'she'll be right' mentality.
Recession...
Danger of 'recession by Christmas' | The Australian
The Missing recession of 2002 (Britain 05 but relevant now).
The Mystery Of Britain's Missing Recession
There is even a forum watching our housing bubble unwind...
Global House Price Crash Forum -> Australian Property Discussion
House prices 4x earnings in 2011 and then we'll start again.
Watch the China GDP figures tomorrow and then watch RIO, BHP and the ASX200.
Every downturn we have the same 'she'll be right' mentality.
Recession...
Danger of 'recession by Christmas' | The Australian
The Missing recession of 2002 (Britain 05 but relevant now).
The Mystery Of Britain's Missing Recession
"...Just how did Gordon Brown abolish the boom/bust cycle? By letting industry fall into recession...by forcing families into debt...and by inflating a house price bubble that will cause the Depression of 2010..."
Global House Price Crash Forum -> Australian Property Discussion
House prices 4x earnings in 2011 and then we'll start again.
Watch the China GDP figures tomorrow and then watch RIO, BHP and the ASX200.
Joined: Jun 2007
Posts: 421
Likes: 0
From: With Ratty and Mole
so what?
We do what we have always done ..start again.
You having a a little mental implosion will change nothing.
Find another more appropriate forum and have your meltdown there.
Be polite...good manners do count
You having a a little mental implosion will change nothing.
Find another more appropriate forum and have your meltdown there.
Be polite...good manners do count
Joined: Aug 2006
Posts: 302
Likes: 0
From: All over the place
Adjusting house prices from 7x to 4x is more than a little 'start again'.
I'll check back in 6 months and see how the carnage is going.
A quick reality check but this isn't the Pathfinders room at the Officer's Mess at Richmond.
If ONE PERSON and just one ONE liquidates a silly 100% geared rental position the hollering is worth it.
See you in 6m. Sorry for the yelling.
I'll check back in 6 months and see how the carnage is going.
Be polite...good manners do count
If ONE PERSON and just one ONE liquidates a silly 100% geared rental position the hollering is worth it.
See you in 6m. Sorry for the yelling.
Joined: Jul 2007
Posts: 6,864
Likes: 5
From: in the classroom of life
Anyone else noticed the strange phenomena lately?
The Aussie dollar has tracked the oil price for the last week or more.
For example oil = USD$62 and USD$1 = AUD$0.62, all the way pretty much.
Whats going on?
J
The Aussie dollar has tracked the oil price for the last week or more.
For example oil = USD$62 and USD$1 = AUD$0.62, all the way pretty much.
Whats going on?
J
Joined: Nov 2007
Posts: 1,127
Likes: 0
From: Yellow Brick Road
There has been a lot of talk recently in the media about the Aussie property market crashing 40% over the next 10 years.
Well, I believe it has happened already. Remember Purchasing Power Parity ? The Aussie dollar has plummeted from nearly a US dollar a few months ago to around 60 odd cents now. Meanwhile Aussie property prices have been in the doldrums but roughly unchanged.
In real world terms, therefore, Aussie properties have fallen 40% in the last few months. It could fall further in November if Canberra decides to slash interest rates again.
An overseas buyer who could only afford one property a few months ago will be able to buy an additional similar property with the same amount of foreign currency, assuming it closely follows US dollar trends. We have seen this in the Sterling, Euro and the Yen recently.
No property crash for us in Oz, but that is the effect from the outside world looking in.
Well, I believe it has happened already. Remember Purchasing Power Parity ? The Aussie dollar has plummeted from nearly a US dollar a few months ago to around 60 odd cents now. Meanwhile Aussie property prices have been in the doldrums but roughly unchanged.
In real world terms, therefore, Aussie properties have fallen 40% in the last few months. It could fall further in November if Canberra decides to slash interest rates again.
An overseas buyer who could only afford one property a few months ago will be able to buy an additional similar property with the same amount of foreign currency, assuming it closely follows US dollar trends. We have seen this in the Sterling, Euro and the Yen recently.
No property crash for us in Oz, but that is the effect from the outside world looking in.
Joined: Jun 2007
Posts: 421
Likes: 0
From: With Ratty and Mole
Brave souls
Off Shore investors would have to be very brave and very cashed up to contemplate buying real estate any where except their own backyard.
Meanwhile rental property shortages particularly in Sydney mean that yields on investment property are the highest they have been for years.
Apparently property in ICeland is going to be great value for money in the coming months.
Meanwhile rental property shortages particularly in Sydney mean that yields on investment property are the highest they have been for years.
Apparently property in ICeland is going to be great value for money in the coming months.
Joined: Sep 2011
Posts: 170
Likes: 0
From: Aimlessly wandering
Jesus where did you drag this one up from?
Congratulations sir, you are the most diligent Pprune searcher I have come across. Perhaps you should stand guard in readiness for the next "should I be an airline pilot" thread.
Kudos
Congratulations sir, you are the most diligent Pprune searcher I have come across. Perhaps you should stand guard in readiness for the next "should I be an airline pilot" thread.
Kudos
Man Bilong Balus long PNG
Joined: Apr 2002
Aviation Qualifications: ATPL
Posts: 3,065
Likes: 222
From: Back home again after another fantastic time in Japan; once again back to the 'real world' and continuing the seemingly never ending search for a bad bottle of Red.
Post #s 18 and 20 by Chuckles and plankbender respectively make good re-reading.
