"CREDIT CRUNCH" is it affecting oz?
#17
Re: "CREDIT CRUNCH" is it affecting oz?
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.
#18
Joined: Oct 2005
Posts: 9,066
Re: "CREDIT CRUNCH" is it affecting oz?
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.
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.
#20
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
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
#21
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
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
#25
Re: "CREDIT CRUNCH" is it affecting oz?
something's got to give way.
#26
BE Enthusiast
Joined: Jan 2006
Posts: 413
Re: "CREDIT CRUNCH" is it affecting oz?
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?
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.
#27
BE Enthusiast
Joined: Jan 2006
Posts: 413
Re: "CREDIT CRUNCH" is it affecting oz?
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?
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.
#28
Re: "CREDIT CRUNCH" is it affecting oz?
just curious how all this affects the exchange rate,either short or long term?
#29
Joined: Oct 2005
Posts: 9,066
Re: "CREDIT CRUNCH" is it affecting oz?
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.
#30
Lost in BE Cyberspace
Joined: Oct 2005
Location: Hill overlooking the SE Melbourne suburbs
Posts: 16,622
Re: "CREDIT CRUNCH" is it affecting oz?
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.
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.
"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.