Boom or Bust ?
May 5th 2003, 9:58 am
#1
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Boom or Bust ?
It's a cut and paste, but ...
A study for the International Monetary Fund has found that 55 per cent of housing price booms in Western countries since 1970 have ended in busts, implying that Australia is now running the risk of a real estate price crash.
Keep your Sterling folks and lets see what happens, it could be very different in a few months time just like the UK,
So our plan is to rent and sit back, chill and relax and live off interest,
A bit more ...
House price crash warning ...
| May 5 2003 | The Age
Fitching ratings, the international rating agency, says Australian residential property prices are more exposed than ever to a crash.
A study for the International Monetary Fund has found that 55 per cent of housing price booms in Western countries since 1970 have ended in busts, implying that Australia is now running the risk of a real estate price crash.
Keep your Sterling folks and lets see what happens, it could be very different in a few months time just like the UK,
So our plan is to rent and sit back, chill and relax and live off interest,
A bit more ...
House price crash warning ...
| May 5 2003 | The Age
Fitching ratings, the international rating agency, says Australian residential property prices are more exposed than ever to a crash.
Last edited by scoobydooathome; May 5th 2003 at 10:09 am.
May 5th 2003, 10:09 am
#2
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Posts: 350
Re: Boom or Bust ?
Originally posted by scoobydooathome
It's a cut and paste, but ...
A study for the International Monetary Fund has found that 55 per cent of housing price booms in Western countries since 1970 have ended in busts, implying that Australia is now running the risk of a real estate price crash.
Keep your Sterling folks and lets see what happens, it could be very different in a few months time just like the UK,
So our plan is to rent and sit back, chill and relax and live off interest,
It's a cut and paste, but ...
A study for the International Monetary Fund has found that 55 per cent of housing price booms in Western countries since 1970 have ended in busts, implying that Australia is now running the risk of a real estate price crash.
Keep your Sterling folks and lets see what happens, it could be very different in a few months time just like the UK,
So our plan is to rent and sit back, chill and relax and live off interest,
May 5th 2003, 10:42 am
#3
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Posts: n/a
Re: Boom or Bust ?
Originally posted by scoobydooathome
It's a cut and paste, but ...
A study for the International Monetary Fund has found that 55 per cent of housing price booms in Western countries since 1970 have ended in busts, implying that Australia is now running the risk of a real estate price crash.
Keep your Sterling folks and lets see what happens, it could be very different in a few months time just like the UK,
So our plan is to rent and sit back, chill and relax and live off interest,
A bit more ...
House price crash warning ...
| May 5 2003 | The Age
Fitching ratings, the international rating agency, says Australian residential property prices are more exposed than ever to a crash.
It's a cut and paste, but ...
A study for the International Monetary Fund has found that 55 per cent of housing price booms in Western countries since 1970 have ended in busts, implying that Australia is now running the risk of a real estate price crash.
Keep your Sterling folks and lets see what happens, it could be very different in a few months time just like the UK,
So our plan is to rent and sit back, chill and relax and live off interest,
A bit more ...
House price crash warning ...
| May 5 2003 | The Age
Fitching ratings, the international rating agency, says Australian residential property prices are more exposed than ever to a crash.
Droughts THEN Flooding Rains.
"We’ll all be rooned," Said Hanrahan
May 5th 2003, 10:45 am
#4
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Posts: 1,215
Boom THEN Bust.
Droughts THEN Flooding Rains.
Live then Die !!
May 5th 2003, 12:23 pm
#5
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Originally posted by karawara88
Live then Die !!
Live then Die !!
May 6th 2003, 2:09 am
#6
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Joined: Feb 2002
Location: Dream life UK....
Posts: 2,912
Australia's part of Asia. I always find that funny, so many pommies queing up to be an immigrant in an asian country.
Economy is often affected by Asian events, European events often have no impact. American events, hit sometimes as often as two years behind.
Looking at all the factors here, I'd think the ordinary average type house will stay strong for a good 2 years or more yet. If it wobbles units (apartments) here usually dump first.
Main thing I think will affect Aus, is the SARS impact on Trade. We are on its doorstep.
Usual thing to crash the house market here is interest rates, Aussies are not bothered so much by world events, they seem to have this "it wont affect us here mentality". However put the interest rates up and kaboom...
Still will johnny put interest rates up when most other countries are cutting them? Looks doubtful at the moment.
Economy is often affected by Asian events, European events often have no impact. American events, hit sometimes as often as two years behind.
Looking at all the factors here, I'd think the ordinary average type house will stay strong for a good 2 years or more yet. If it wobbles units (apartments) here usually dump first.
Main thing I think will affect Aus, is the SARS impact on Trade. We are on its doorstep.
Usual thing to crash the house market here is interest rates, Aussies are not bothered so much by world events, they seem to have this "it wont affect us here mentality". However put the interest rates up and kaboom...
Still will johnny put interest rates up when most other countries are cutting them? Looks doubtful at the moment.
May 6th 2003, 2:21 am
#7
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Joined: Apr 2003
Location: NZ
Posts: 207
Originally posted by dotty
Australia's part of Asia. I always find that funny, so many pommies queing up to be an immigrant in an asian country.
Economy is often affected by Asian events, European events often have no impact. American events, hit sometimes as often as two years behind.
Looking at all the factors here, I'd think the ordinary average type house will stay strong for a good 2 years or more yet. If it wobbles units (apartments) here usually dump first.
Main thing I think will affect Aus, is the SARS impact on Trade. We are on its doorstep.
Usual thing to crash the house market here is interest rates, Aussies are not bothered so much by world events, they seem to have this "it wont affect us here mentality". However put the interest rates up and kaboom...
Still will johnny put interest rates up when most other countries are cutting them? Looks doubtful at the moment.
Australia's part of Asia. I always find that funny, so many pommies queing up to be an immigrant in an asian country.
Economy is often affected by Asian events, European events often have no impact. American events, hit sometimes as often as two years behind.
Looking at all the factors here, I'd think the ordinary average type house will stay strong for a good 2 years or more yet. If it wobbles units (apartments) here usually dump first.
Main thing I think will affect Aus, is the SARS impact on Trade. We are on its doorstep.
Usual thing to crash the house market here is interest rates, Aussies are not bothered so much by world events, they seem to have this "it wont affect us here mentality". However put the interest rates up and kaboom...
Still will johnny put interest rates up when most other countries are cutting them? Looks doubtful at the moment.
In fact, there are increasing gaps between the cultures of Europe and NZ too, and it may surprise some just how big the gap is starting to be and it will certainly grow. I find this one of the better things about NZ - it is increasingly feeling like a foreign country rather than a satellite of the UK and the Polynesian influence is in the ascendancy.
Slippers
May 6th 2003, 4:19 am
#8
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Re: Boom or Bust ?
Originally posted by scoobydooathome
It's a cut and paste, but ...
A study for the International Monetary Fund has found that 55 per cent of housing price booms in Western countries since 1970 have ended in busts, implying that Australia is now running the risk of a real estate price crash.
Keep your Sterling folks and lets see what happens, it could be very different in a few months time just like the UK,
So our plan is to rent and sit back, chill and relax and live off interest,
A bit more ...
House price crash warning ...
| May 5 2003 | The Age
Fitching ratings, the international rating agency, says Australian residential property prices are more exposed than ever to a crash.
It's a cut and paste, but ...
A study for the International Monetary Fund has found that 55 per cent of housing price booms in Western countries since 1970 have ended in busts, implying that Australia is now running the risk of a real estate price crash.
Keep your Sterling folks and lets see what happens, it could be very different in a few months time just like the UK,
So our plan is to rent and sit back, chill and relax and live off interest,
A bit more ...
House price crash warning ...
| May 5 2003 | The Age
Fitching ratings, the international rating agency, says Australian residential property prices are more exposed than ever to a crash.
Could well be but the market here is different state by state , little Johnny knows that any fall in home prices would be his parties ticket out of power
Hes throwing tax payers money at new homes (getting it back in GST on them) , this way the older homes are selling fast and prices are rising .
The country is falling into debt deeper by the day but if the arse falls out , all things will go bust employment will double and wages will drop .
May 6th 2003, 6:28 am
#9
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Originally posted by dotty
Australia's part of Asia. I always find that funny, so many pommies queing up to be an immigrant in an asian country.
Australia's part of Asia. I always find that funny, so many pommies queing up to be an immigrant in an asian country.
May 6th 2003, 6:38 am
#10
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Location: Body is in Brissie. Heart and soul has long flown home.
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Originally posted by SteveBannister
When did that change then? At school I was always taught that there were six continents. North America, South America, Europe, Africa, Asia and Oceania (Australia, New Zealand etc.)
When did that change then? At school I was always taught that there were six continents. North America, South America, Europe, Africa, Asia and Oceania (Australia, New Zealand etc.)
True - actually when I was in school it was known, I was taught it was Australasian, and I have always known it by this - which is considered un PC now - it upsets the others like NZ. - it can go by both names, Oceania and Australasia, take your pick.(both names are correct - but no it is not a part of the Asian continent)
Last edited by Ceri; May 6th 2003 at 6:52 am.
May 6th 2003, 6:42 am
#11
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Originally posted by SteveBannister
When did that change then? At school I was always taught that there were six continents. North America, South America, Europe, Africa, Asia and Oceania (Australia, New Zealand etc.)
When did that change then? At school I was always taught that there were six continents. North America, South America, Europe, Africa, Asia and Oceania (Australia, New Zealand etc.)
Last time I looked Australia was considered part of Oceania, not Asia.
AndyH
May 6th 2003, 6:42 am
#12
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Re: Boom or Bust ?
[QUOTE]Originally posted by scoobydooathome
It's a cut and paste, but ...
A study for the International Monetary Fund has found that 55 per cent of housing price booms in Western countries since 1970 have ended in busts, implying that Australia is now running the risk of a real estate price crash.
Scooby - I think it might be worth looking at the Australian Bureau of Statistics website - it shows quite conclusively that the Australian Housing Market does not tend to "Boom and Bust" as you put it, but merely climbs at reasonable levels (e.g. generally 10%-25% per year) and then "levels off" for a period of time.
I am glad you got a good price for your house in the UK (as we did when we sold up) it will certainly stand you in good stead over here, but if you research the ABS figures, you will see that the Australian Property Market is probably a safer bet than the UK one for long-term investment.
It's a cut and paste, but ...
A study for the International Monetary Fund has found that 55 per cent of housing price booms in Western countries since 1970 have ended in busts, implying that Australia is now running the risk of a real estate price crash.
Scooby - I think it might be worth looking at the Australian Bureau of Statistics website - it shows quite conclusively that the Australian Housing Market does not tend to "Boom and Bust" as you put it, but merely climbs at reasonable levels (e.g. generally 10%-25% per year) and then "levels off" for a period of time.
I am glad you got a good price for your house in the UK (as we did when we sold up) it will certainly stand you in good stead over here, but if you research the ABS figures, you will see that the Australian Property Market is probably a safer bet than the UK one for long-term investment.
May 6th 2003, 7:08 am
#13
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Originally posted by jah4reds
You beat me to it Steve.
Last time I looked Australia was considered part of Oceania, not Asia.
AndyH
You beat me to it Steve.
Last time I looked Australia was considered part of Oceania, not Asia.
AndyH
May 6th 2003, 7:16 am
#14
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Originally posted by SteveBannister
When did that change then? At school I was always taught that there were six continents. North America, South America, Europe, Africa, Asia and Oceania (Australia, New Zealand etc.)
When did that change then? At school I was always taught that there were six continents. North America, South America, Europe, Africa, Asia and Oceania (Australia, New Zealand etc.)
Australia's future is in Asia, not US - Keating
Previous Australian PM Paul Keating has always talked sense, if somewhat abrasively. Yesterday at the Rat's old alma mater Curtin University, Keating sketched a view of Australia in the world which has gone walkabout since the Howard Anglo Saxon US-centric world-view has gained currency in an increasingly isolated Australia
http://news.bbc.co.uk/1/hi/world/asi...ic/1644757.stm
http://www.dfat.gov.au/media/speeche...elb8may98.html
May 6th 2003, 7:17 am
#15
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Originally posted by SteveBannister
When did that change then? At school I was always taught that there were six continents. North America, South America, Europe, Africa, Asia and Oceania (Australia, New Zealand etc.)
When did that change then? At school I was always taught that there were six continents. North America, South America, Europe, Africa, Asia and Oceania (Australia, New Zealand etc.)
1. Africa,
2. Antarctica,
3. Australia.
4. Eurasia ("Sub-continents" Europe, India & Asia)
5. North America,
6. South America
NZ is a chip off the extinct continent Gondwana.