Aussie $ wildly overvalued...
Nov 22nd 2009, 7:24 pm
#1
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Aussie $ wildly overvalued...
Nov 22nd 2009, 7:58 pm
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Re: Aussie $ wildly overvalued...
As long as China stays wealthy so will OZ, China needs OZ's massive natural resources , thats why OZ is the only western country to advoid a recession and the best performing economy in the western world. in the USA unemployment is 10% and house prices crashing in OZ unemployment is 4% and house prices booming.
Last edited by mohogony; Nov 22nd 2009 at 8:02 pm.
Nov 22nd 2009, 8:39 pm
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Re: Aussie $ wildly overvalued...
As long as China stays wealthy so will OZ, China needs OZ's massive natural resources , thats why OZ is the only western country to advoid a recession and the best performing economy in the western world. in the USA unemployment is 10% and house prices crashing in OZ unemployment is 4% and house prices booming.
http://www.smh.com.au/business/doubt...1117-ij91.html
House prices booming in Oz because of China? I am not so sure. I think it is almost entirely fuelled by debt (and not mention the govt. handout/bribe/encouragement to inflate house prices higher) ......FHB taking extraordinarily huge loans with low down payments (at a time when interest rates bottomed) and buying houses they can ill afford.
Nov 22nd 2009, 9:20 pm
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Re: Aussie $ wildly overvalued...
Whilst the economics of Australia are not perfect by any stretch of the imagination, when compared to the US and UK its positively coming up smelling of roses. I don't believe that is going to change any time soon.
Nov 22nd 2009, 9:36 pm
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Re: Aussie $ wildly overvalued...
are you having a housing bubble in australia?
Nov 23rd 2009, 2:59 am
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Re: Aussie $ wildly overvalued...
FORGET the "for sale" sign, the new catch-cry in Melbourne's leafy suburbs is "duoshao qian".
Leading agents say more than 30 per cent of their stock is bought by families from mainland China.
"This calendar year 34 per cent of our sales went to mainly Chinese buyers compared to 15 per cent last year. We're up 125 per cent overall,"
http://www.news.com.au/business/mone...013951,00.html
Leading agents say more than 30 per cent of their stock is bought by families from mainland China.
"This calendar year 34 per cent of our sales went to mainly Chinese buyers compared to 15 per cent last year. We're up 125 per cent overall,"
http://www.news.com.au/business/mone...013951,00.html
Nov 23rd 2009, 3:10 am
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Re: Aussie $ wildly overvalued...
As long as China stays wealthy so will OZ, China needs OZ's massive natural resources , thats why OZ is the only western country to advoid a recession and the best performing economy in the western world. in the USA unemployment is 10% and house prices crashing in OZ unemployment is 4% and house prices booming.
Nov 23rd 2009, 3:20 am
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Re: Aussie $ wildly overvalued...
That and interest rates. I don't recall the rises and falls of interest rates being reported with such detailed examination back in the uk...
S
Nov 23rd 2009, 3:31 am
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Re: Aussie $ wildly overvalued...
I remember it being quite a big thing in the UK as well. MPC used to meet 1st Thursday of the month and it was definitely on the news that night.
Nov 23rd 2009, 3:51 am
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Nov 23rd 2009, 4:03 am
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Re: Aussie $ wildly overvalued...
How reliable is that data given that they're all reports from real estate agents (price rise on account of Chinese buyers who have become very active recently)? The reason I ask is that we had a very similar situation in Dubai - where agents were talking up prices and saying that cashed up Russians and Saudis were snapping up property (not to mention tales of money launderers with suitcases full of cash buying property) so prices would never fall....and we saw what happened there.
So are the Chinese really buying property, and if so, why?
So are the Chinese really buying property, and if so, why?
Nov 23rd 2009, 4:08 am
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Re: Aussie $ wildly overvalued...
How reliable is that data given that they're all reports from real estate agents (price rise on account of Chinese buyers who have become very active recently)? The reason I ask is that we had a very similar situation in Dubai - where agents were talking up prices and saying that cashed up Russians and Saudis were snapping up property (not to mention tales of money launderers with suitcases full of cash buying property) so prices would never fall....and we saw what happened there.
So are the Chinese really buying property, and if so, why?
So are the Chinese really buying property, and if so, why?
The rules were changed to allow just this to happen, and now they say it has happened.
It sort of makes sense.
Nov 23rd 2009, 4:14 am
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