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"CREDIT CRUNCH" is it affecting oz?

"CREDIT CRUNCH" is it affecting oz?

Old Jun 20th 2008, 4:25 am
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by stariston
Try selling your home in parts of Western Sydney at this time ,the vultures
are out ,offering stupid prices to cash strapped sellers :curse:


Same in Melbourne
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Old Jun 20th 2008, 4:36 am
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by Wol
Or realistic ones, not the vastly overpriced figures people seem to have got used to and are expecting?

There are familys suffering out there thats a fact give you that one

Prices have dropped in Western Sydney also

Last edited by stariston; Jun 20th 2008 at 4:40 am.
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Old Jun 20th 2008, 5:14 am
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by BadgeIsBack
Some people say that Australia is not so exposed to the credit crunch in the way people understand it elsewhere.

Might be true, but inflation is No.1 issue over here and surely the FX rate is too high. Seems to me the economy is overheating. I can see the mining industry going on but surely there has to be a slowdown somewhere. I think houses prices are crazy.

Nightmare scenario is stagflation. That would be the end of the boom for some.
Diesel up to $179.9 today so that was an extra $13 on my usual tank price...:curse:
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Old Jun 20th 2008, 6:09 am
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by annqldau
Diesel up to $179.9 today so that was an extra $13 on my usual tank price...:curse:
$1.86 in Adelaide.................mm
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Old Jun 20th 2008, 6:17 am
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Default Re: "CREDIT CRUNCH" is it affecting oz?

biting hard here for thos with kids in private schools .......quite a few nurses where I work are working 2 jobs to keep their heads above water and their partners work as well.......and they do not live in big expensive houses or drive big flash cars.....school costs can mount up even in state schools and the rising food costs and petrol are biting hard for a lot of people.....and all those sports the kids love to play often do not come cheap....
so we are on a par with the rest of the world now......lot of people got cards to the max from what I hear

http://www.theaustralian.news.com.au...-36418,00.html
see lot of people in supermarket paying for food with credit and even seen one credit card payment being paid with another credit card....that was scary
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Old Jun 20th 2008, 7:59 pm
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by bithbheo
biting hard here for thos with kids in private schools .......quite a few nurses where I work are working 2 jobs to keep their heads above water and their partners work as well.......and they do not live in big expensive houses or drive big flash cars.....school costs can mount up even in state schools and the rising food costs and petrol are biting hard for a lot of people.....and all those sports the kids love to play often do not come cheap....
so we are on a par with the rest of the world now......lot of people got cards to the max from what I hear

http://www.theaustralian.news.com.au...-36418,00.html
see lot of people in supermarket paying for food with credit and even seen one credit card payment being paid with another credit card....that was scary
starting to get a few tree jobs in now for myself, i normally sell the logs but looks like the price of our heating oil is about to sky rocket, i think i'll save a few tonne for the winter............... dont start me off on car tax next year! £400??? WTF???
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Old Jun 20th 2008, 9:39 pm
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by Wol
Or realistic ones, not the vastly overpriced figures people seem to have got used to and are expecting?
Sounds more like it WOL.
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Old Jun 20th 2008, 11:21 pm
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by mr mover
$1.86 in Adelaide.................mm
Je$us... that's bad. Wonder if Aussies will ever get to the protest stage like Europe or will just put up with it.
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Old Jun 20th 2008, 11:42 pm
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by annqldau
Je$us... that's bad. Wonder if Aussies will ever get to the protest stage like Europe or will just put up with it.
See what happens when it gets to $2 a ltr........a lot of companys here are charging a fuel surcharge and getting a way with it...............mm
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Old Jun 21st 2008, 8:40 am
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by mr mover
See what happens when it gets to $2 a ltr........a lot of companys here are charging a fuel surcharge and getting a way with it...............mm
last week during our strike by the tanker drivers, one petrol station down south put his prices up to £1.99 a litre! whats that, nearley a tenner a gallon.
something's got to give way.
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Old Jun 22nd 2008, 3:14 am
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by bu1lder
With fuel, food, costs of living getting out of control, also our house not selling and neighbours knocking 50 grand off the price of theirs. are these high taxes and problems only in the uk? or are the ozzies starting to feel the pinch also? i suppose if oz house prices fall in line with uk ones, surley its all ok? right? the only thing on the news and in the daily rags is the same...doom doom doom. is it the same over there?
LPG prices at around 58 cents a litre.

Stock prices at yields of up to 11% when grossed up,positively geared from day one.

End of the tax year so interest in advance means an immediate deduction. Some see doom and gloom,othes see nothing but opportunity.
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Old Jun 22nd 2008, 3:14 am
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by bu1lder
With fuel, food, costs of living getting out of control, also our house not selling and neighbours knocking 50 grand off the price of theirs. are these high taxes and problems only in the uk? or are the ozzies starting to feel the pinch also? i suppose if oz house prices fall in line with uk ones, surley its all ok? right? the only thing on the news and in the daily rags is the same...doom doom doom. is it the same over there?
LPG prices at around 58 cents a litre.

Stock prices at yields of up to 11% when grossed up,positively geared from day one.

End of the tax year so interest in advance means an immediate deduction. Some see doom and gloom,others see nothing but opportunity.
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Old Jun 22nd 2008, 4:33 pm
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Default Re: "CREDIT CRUNCH" is it affecting oz?

just curious how all this affects the exchange rate,either short or long term?
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Old Jun 22nd 2008, 10:35 pm
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by mr mover
See what happens when it gets to $2 a ltr........a lot of companys here are charging a fuel surcharge and getting a way with it...............mm
I have a feeling the Aussies will moan but not do anything so it will keep on happening, at least the truck blockades etc. get the government thinking mmm... maybe we should do something.
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Old Jun 23rd 2008, 2:01 am
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Default Re: "CREDIT CRUNCH" is it affecting oz?

Originally Posted by bithbheo
see lot of people in supermarket paying for food with credit and even seen one credit card payment being paid with another credit card....that was scary
A lot of Australians do use credit cards so they can maximise the interest in their offset accounts...

Originally Posted by Wol
Australians are much more gamblers than Brits, and this has made the housing inflation worse over the years - together with tax incentives on "investment" property.

There are very many folk here just hanging on, very overextended and with several properties rented out and not paying their way.

As the inevitable consequences of over-borrowing bite, expect a lot of trauma here. Despite the resources boom in part of the continent.
I asked my mate with housing portfolio what he thought and all he could say enigmatically was

"Rents are rising. Time to get in the market". He's not even concerned about interest rates. The bank always wins so he keeps his variable and claims.

But its easy to say that when you don't have a mortgage on your primary residence and the cashflow from rising rents and deductions to service all the costs, and started out 10 years ago.
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