recession
Mar 23rd 2009, 2:28 pm
#1
MickyBhoy
Thread Starter
Joined: May 2008
Posts: 248
recession
Hi guys me again
just been reading some threads and looking on the internet about the downturn on Oz.
We are moving to Perth in Oct this year but OH is starting to get a bit jittery
she has been offered a job and we are going over on her 457 visa but we have been hearing horror stories about people who are over on the 457 are getting paid of first which then leaves you in limbo as you then dont have sponsership which means we would need to return to the UK.
Also as i dont have a job on the wanted list it will be really difficult for me to get a job to.
Can anyone advise on the above i know times are hard everywere througout the world but sometimes people blow things out of proprtion.
Mick
just been reading some threads and looking on the internet about the downturn on Oz.
We are moving to Perth in Oct this year but OH is starting to get a bit jittery
she has been offered a job and we are going over on her 457 visa but we have been hearing horror stories about people who are over on the 457 are getting paid of first which then leaves you in limbo as you then dont have sponsership which means we would need to return to the UK.
Also as i dont have a job on the wanted list it will be really difficult for me to get a job to.
Can anyone advise on the above i know times are hard everywere througout the world but sometimes people blow things out of proprtion.
Mick
Mar 23rd 2009, 8:43 pm
#2
BE Forum Addict
Joined: Oct 2005
Location: In a house
Posts: 2,590
Re: recession
Hi guys me again
just been reading some threads and looking on the internet about the downturn on Oz.
We are moving to Perth in Oct this year but OH is starting to get a bit jittery
she has been offered a job and we are going over on her 457 visa but we have been hearing horror stories about people who are over on the 457 are getting paid of first which then leaves you in limbo as you then dont have sponsership which means we would need to return to the UK.
Also as i dont have a job on the wanted list it will be really difficult for me to get a job to.
Can anyone advise on the above i know times are hard everywere througout the world but sometimes people blow things out of proprtion.
Mick
just been reading some threads and looking on the internet about the downturn on Oz.
We are moving to Perth in Oct this year but OH is starting to get a bit jittery
she has been offered a job and we are going over on her 457 visa but we have been hearing horror stories about people who are over on the 457 are getting paid of first which then leaves you in limbo as you then dont have sponsership which means we would need to return to the UK.
Also as i dont have a job on the wanted list it will be really difficult for me to get a job to.
Can anyone advise on the above i know times are hard everywere througout the world but sometimes people blow things out of proprtion.
Mick
Mar 23rd 2009, 10:18 pm
#3
Guest
Posts: n/a
Re: recession
World stockmarkets have opened higher today as the US market cheered a long awaited government-private sector plan to clean up toxic assets clogging the balance sheets of banks.
Will this do as they expect, and turn the recession around ?
Will this do as they expect, and turn the recession around ?
Mar 23rd 2009, 10:29 pm
#4
BE Enthusiast
Joined: Nov 2004
Location: Murrumbeena, Melbourne
Posts: 380
Re: recession
From what I've been reading I very much doubt it!??
Mar 23rd 2009, 10:44 pm
#5
BE Forum Addict
Joined: Jan 2006
Location: Perth, WA
Posts: 1,376
Re: recession
Hi guys me again
just been reading some threads and looking on the internet about the downturn on Oz.
We are moving to Perth in Oct this year but OH is starting to get a bit jittery
she has been offered a job and we are going over on her 457 visa but we have been hearing horror stories about people who are over on the 457 are getting paid of first which then leaves you in limbo as you then dont have sponsership which means we would need to return to the UK.
Also as i dont have a job on the wanted list it will be really difficult for me to get a job to.
Can anyone advise on the above i know times are hard everywere througout the world but sometimes people blow things out of proprtion.
Mick
just been reading some threads and looking on the internet about the downturn on Oz.
We are moving to Perth in Oct this year but OH is starting to get a bit jittery
she has been offered a job and we are going over on her 457 visa but we have been hearing horror stories about people who are over on the 457 are getting paid of first which then leaves you in limbo as you then dont have sponsership which means we would need to return to the UK.
Also as i dont have a job on the wanted list it will be really difficult for me to get a job to.
Can anyone advise on the above i know times are hard everywere througout the world but sometimes people blow things out of proprtion.
Mick
Mar 23rd 2009, 11:07 pm
#8
Joined: Jun 2006
Posts: 4,555
Re: recession
You need to find out about the employer and work on PR ASAP. Perth is jittery due to the bottom dropping out of resources.
Hi guys me again
just been reading some threads and looking on the internet about the downturn on Oz.
We are moving to Perth in Oct this year but OH is starting to get a bit jittery
she has been offered a job and we are going over on her 457 visa but we have been hearing horror stories about people who are over on the 457 are getting paid of first which then leaves you in limbo as you then dont have sponsership which means we would need to return to the UK.
Also as i dont have a job on the wanted list it will be really difficult for me to get a job to.
Can anyone advise on the above i know times are hard everywere througout the world but sometimes people blow things out of proprtion.
Mick
just been reading some threads and looking on the internet about the downturn on Oz.
We are moving to Perth in Oct this year but OH is starting to get a bit jittery
she has been offered a job and we are going over on her 457 visa but we have been hearing horror stories about people who are over on the 457 are getting paid of first which then leaves you in limbo as you then dont have sponsership which means we would need to return to the UK.
Also as i dont have a job on the wanted list it will be really difficult for me to get a job to.
Can anyone advise on the above i know times are hard everywere througout the world but sometimes people blow things out of proprtion.
Mick
Mar 23rd 2009, 11:09 pm
#9
Joined: Jun 2006
Posts: 4,555
Re: recession
Have a look at previous recessions of lesser magnitude for length of downturn before recovery. For Perth look at commodity prices.
Mar 23rd 2009, 11:22 pm
#10
BE Enthusiast
Joined: Sep 2008
Location: newbury
Posts: 943
Re: recession
Hi guys me again
just been reading some threads and looking on the internet about the downturn on Oz.
We are moving to Perth in Oct this year but OH is starting to get a bit jittery
she has been offered a job and we are going over on her 457 visa but we have been hearing horror stories about people who are over on the 457 are getting paid of first which then leaves you in limbo as you then dont have sponsership which means we would need to return to the UK.
Also as i dont have a job on the wanted list it will be really difficult for me to get a job to.
Can anyone advise on the above i know times are hard everywere througout the world but sometimes people blow things out of proprtion.
Mick
just been reading some threads and looking on the internet about the downturn on Oz.
We are moving to Perth in Oct this year but OH is starting to get a bit jittery
she has been offered a job and we are going over on her 457 visa but we have been hearing horror stories about people who are over on the 457 are getting paid of first which then leaves you in limbo as you then dont have sponsership which means we would need to return to the UK.
Also as i dont have a job on the wanted list it will be really difficult for me to get a job to.
Can anyone advise on the above i know times are hard everywere througout the world but sometimes people blow things out of proprtion.
Mick
Mar 23rd 2009, 11:34 pm
#11
Guest
Posts: n/a
Re: recession
Also the cause behind each recession, as they may have different outcomes.
If we only look at history, without any variables, then house prices can be looked at in the same way, and they are therefore only going up !
Mar 24th 2009, 12:14 am
#12
Joined: Jun 2006
Posts: 4,555
Re: recession
Main cause behind most recessions is over borrowing in relation to income and then having to repay the debt. Typically asset prices (eg house prices) over inflate above trend. A price shock comes along such as oil and interest rates have to go up. That increase in rates and expenses exposes those who have overborrowed.
What the stimulus packages do is shift the burden to the tax payer who will have to repay over time.
Traditionally asset prices including house prices go down through this period of payback. Perth is witnessing this stronger than anywhere else in Australia.
What the stimulus packages do is shift the burden to the tax payer who will have to repay over time.
Traditionally asset prices including house prices go down through this period of payback. Perth is witnessing this stronger than anywhere else in Australia.
Also have to compare the Australian and International stimulus packages that were done in those recessions to see a real comparison.
Also the cause behind each recession, as they may have different outcomes.
If we only look at history, without any variables, then house prices can be looked at in the same way, and they are therefore only going up !
Also the cause behind each recession, as they may have different outcomes.
If we only look at history, without any variables, then house prices can be looked at in the same way, and they are therefore only going up !
Mar 24th 2009, 12:33 am
#13
Guest
Posts: n/a
Re: recession
Perth is getting it later than the others, because their growth also came later.
Look at Western Sydney, one of the first places that the growth hit. It stagnated and dropped, but has just recently revived slightly.
One specific example of a house in Western Sydney to show the price movements:
2001 $280,000 actual sale price
2002 $470,000 Agents advised sale price
2003 $430,000 actual offer
2005 $380,000 bank value
2008 $360,000 Agents advised sale price
2009 $380,000 possible offer
This is for a house that has had no improvements in that time frame.
It has had its 20% theoretical drop (470k to 360k), but in reality only a 16% drop (430k to 360k), which has now been clawed back to only an 11% drop (430k to 380k).
Although still a 26% growth since purchase (280k to 380k)
And yes, I should have sold at the height of the boom in 2003, but we kept it in case we moved back to Sydney
Look at Western Sydney, one of the first places that the growth hit. It stagnated and dropped, but has just recently revived slightly.
One specific example of a house in Western Sydney to show the price movements:
2001 $280,000 actual sale price
2002 $470,000 Agents advised sale price
2003 $430,000 actual offer
2005 $380,000 bank value
2008 $360,000 Agents advised sale price
2009 $380,000 possible offer
This is for a house that has had no improvements in that time frame.
It has had its 20% theoretical drop (470k to 360k), but in reality only a 16% drop (430k to 360k), which has now been clawed back to only an 11% drop (430k to 380k).
Although still a 26% growth since purchase (280k to 380k)
And yes, I should have sold at the height of the boom in 2003, but we kept it in case we moved back to Sydney
Mar 24th 2009, 12:58 am
#14
Joined: Jun 2006
Posts: 4,555
Re: recession
I doubt you are the distressed selling type. An interesting observation is the bank value which is increasingly relevant as they seem to care now on mortgage applications to ensure there is adequate equity for borrowers.
Perth went up with iron ore and is going down with iron ore.
Perth went up with iron ore and is going down with iron ore.
Perth is getting it later than the others, because their growth also came later.
Look at Western Sydney, one of the first places that the growth hit. It stagnated and dropped, but has just recently revived slightly.
One specific example of a house in Western Sydney to show the price movements:
2001 $280,000 actual sale price
2002 $470,000 Agents advised sale price
2003 $430,000 actual offer
2005 $380,000 bank value
2008 $360,000 Agents advised sale price
2009 $380,000 possible offer
This is for a house that has had no improvements in that time frame.
It has had its 20% theoretical drop (470k to 360k), but in reality only a 16% drop (430k to 360k), which has now been clawed back to only an 11% drop (430k to 380k).
Although still a 26% growth since purchase (280k to 380k)
And yes, I should have sold at the height of the boom in 2003, but we kept it in case we moved back to Sydney
Look at Western Sydney, one of the first places that the growth hit. It stagnated and dropped, but has just recently revived slightly.
One specific example of a house in Western Sydney to show the price movements:
2001 $280,000 actual sale price
2002 $470,000 Agents advised sale price
2003 $430,000 actual offer
2005 $380,000 bank value
2008 $360,000 Agents advised sale price
2009 $380,000 possible offer
This is for a house that has had no improvements in that time frame.
It has had its 20% theoretical drop (470k to 360k), but in reality only a 16% drop (430k to 360k), which has now been clawed back to only an 11% drop (430k to 380k).
Although still a 26% growth since purchase (280k to 380k)
And yes, I should have sold at the height of the boom in 2003, but we kept it in case we moved back to Sydney
Mar 24th 2009, 1:31 am
#15
Just Joined
Joined: Feb 2009
Posts: 16
Re: recession
HI MICKPOWER Its hard to imagine oz comming out of the woods in 2009, given the fact she depends on exports to rest of the world, and her main trading partner china in getting into deeper recession, which depends on US economy.
The way things are goings it would be very risky to go on 457 visa especially to WA in present scenario. would suggest you to consider on taking the PR instead of 457, although the former is littler slower to come by but with PR you have many option in case of bad times whereas the 457 its only one way ticket to home. If you guys were just a couple, maybe take a chance a see with 457, but if you are with school going kids I would be very cautious.
The way things are goings it would be very risky to go on 457 visa especially to WA in present scenario. would suggest you to consider on taking the PR instead of 457, although the former is littler slower to come by but with PR you have many option in case of bad times whereas the 457 its only one way ticket to home. If you guys were just a couple, maybe take a chance a see with 457, but if you are with school going kids I would be very cautious.