DunRoaminTheUK

Apparently...

hereshoping

where did you get this from?

DunRoaminTheUK

An ex-fisherman!

seang

And big boys going bust
http://www.smh.com.au/news/national/...444491725.html

Suppose its happening everywhere. Depends how exposed the lenders are I guess but maybe will revert to pre '06 when the pom pound was buying 10 bedroom,18 bathroom, 12 swimming pool houses.

JackTheLad

In your dreams! With our interst rates so high, and the economy being pulled up by Chinas booming demand. They reckon the aussie dollar will pass parity with the US dollar this year.

seang

I must be masking my sarcasm.... I hadnt seen a "will my 40K sterling buy me<all of the above>" thread in a while

cookem

China's biggest market is America by far. I am no expert, but I was under the impression that the US was in a right state and that they could be heading for a recession. It is already fact that the American consumers are not spending. If they are not spending China has nobody to sell to. If they have no one to sell to then they will cut back on their production. If they cut back on their production they don't need as much raw material. This will affect Australia as the supplier.

I read this in an Australian newspaper. Australia is not immune to the market trouble in america and europe.

WelshSarah

Lets hope a new president in the U.S. will gee things along a bit soon then

Since I arrived I have noticed the market has slowed down a bit but the miidle range houses seem to be holding firm... A few of my friends have recently bought here and while they got a few 'k' knocked off they werent giving the houses away in a blind panic.....

Isnt it the mega bucks propertys that will have to come down to a realistic price?

I go on the www.onthehouse.com.au which will tell you how much a property was previously sold for and how much propertys in certain areas are going for now... Very interesting reading if you are looking to buy..