OZ economic crash!
Jul 26th 2008, 7:13 pm
#16
Joined: Jun 2006
Posts: 4,555
Re: OZ economic crash!
And rental vacancies are increasing, especially the high end stuff. Over 6% in Sydney's well to do suburbs. There goes the justification for maintaining prices despite a drop in the amount of money chasing the property.
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Subtle but to the point.
Jul 26th 2008, 8:52 pm
#18
BE Enthusiast
Joined: Feb 2008
Location: Canberra
Posts: 899
Re: OZ economic crash!
Obviously, the Australian economy will go into a slump. Its for sure.
The currency's performance and economic trends are similar to those leading up to Australia's most-recent recession, in 1990-91.
Australia has been warned it is probably heading for its biggest housing slump over the past 100 years. This is not just my opinion but words of financial advisers & credit crunchers who do this for a living. Don't believe everything you read in the papers or see on the news, these are edited versions of what is really happening.
Australians have built up over AU$2.2 Trillion in debt & need AU$1 Trillion to mend the housing crunch, its in a bad way and will need to tred very carefully and take evasive action quickly.
I never mentioned anything about the UK pound or the US dollar!
Maybe I have mentioned this in the wrong site.......everyone wishing or in the process of moving to oz.
The currency's performance and economic trends are similar to those leading up to Australia's most-recent recession, in 1990-91.
Australia has been warned it is probably heading for its biggest housing slump over the past 100 years. This is not just my opinion but words of financial advisers & credit crunchers who do this for a living. Don't believe everything you read in the papers or see on the news, these are edited versions of what is really happening.
Australians have built up over AU$2.2 Trillion in debt & need AU$1 Trillion to mend the housing crunch, its in a bad way and will need to tred very carefully and take evasive action quickly.
I never mentioned anything about the UK pound or the US dollar!
Maybe I have mentioned this in the wrong site.......everyone wishing or in the process of moving to oz.
Jul 26th 2008, 10:32 pm
#19
Joined: Jan 2005
Location: Asia Pacific
Posts: 4,922
Re: OZ economic crash!
And our banks such as the NAB have sucked up the debt and written off the exposure to the US market to get out of the playing field. I'd say this places Australia in a very strong position comparatively.
