Chinese Opera....Greek Drama Pales in Comparision

Yikes!!

 

For some that'll be a bad recipe - new wave of O/S investors potentially, combined with lower interest rates...less affordability.

I personally will love it.

 

@sash : What's Australia got to do with the Asean countries like Indonesia ? Australia and Indonesia is now having some issues due to the Bali 9 execution.

Plus, those wealthy mainland buyers, usually they paid off the debt or bought the house with low LVR, therefore it is not going to happens badly.

What's the reason RBA cutting the rates this year ? no man, it is not possible. Glenn Stevens already know the impact that most banks didn't pass up more than 100% of the reduced rate, therefore it is not helping to lower down the mortgage payments.

 

I can't see a rate drop occurring in August. It is too soon to tell what the true fallout of this will be for the AU economy, so the bank wont cut then. If things dont pick up by say Oct, a cut may be likely in early Nov.

But then, I am no economist, just basing the above on my reading of the business/economics news of the day over the last few weeks.

 

Yeah, I think the competition will increase for buyers, jobs as well with immigration projections . It will be steady and moderate, with the natural corrections along the way.
It aint going to get easier ...
Great position if for anyone who is retired and has several properties...the rest of us will have to work hard to build up skills, improve productivity, get higher salaries, etc so property can be afforded. I look forward to the challenge.

 

Really have you been reading the economic news from china?

 

JDP1 I commend you on your attitude rather than complaining about how it used to be easier to buy property you are willing to work hard to get there. Most on this forum are of the same attitude.

With an attitude/mindset like that you can't help but succeed.

 

Thanks Darren.
Yes, I know that quite a few Consulting companies, eg Accenture, IBM, pwc. Ey etc etc are looking international to fill high value skills eg Enterprise architecture. These guys will be smart, well educated, and on good salaries.
I expect increased competition for property going forward, and if supply doesn't keep up in certain areas predominantly in or around cbd's, prices will increase. Seeing that in a lot of Sydney already, and also most of Melbourne. Brisbane will catch up to the southern rivals...
The challenge is not to dissuade skilled immigration, rather to embrace it as the net positive to the economy is overwhelmingly in the positive. It will require individuals to up their game, and this too should be seen as a good thing rather than a negative.

 

Has anyone stated that a 30% drop after a 150% rise in the previous 12 months is NOT a bloodbath but a correction. What is all the fuss about? O that's right, the media heard about it and sensationalised the whole thing. Did anyone care much about the Chinese stockmarket before the media told us about it?

I realise many of the investors here will take notice of the Chinese markets, but the majority of Australians don't even know which arrow on Kohler's blog is the Chinese one. rephrase that. The majority of Australians don't watch Kohler anyway.

 

Here is a view on Chinese market instability and what it might mean for aust property prices.
http://m.news.domain.com.au/domain/...-estate-20150708-gi7hcv.html?skin=smart-phone

 

So you're suggesting that we read Allan's article on www.eurekareport.com.au ?

 

No, I only used his name because its the only guy on the evening news whose name I remember. The average person doesn't read financial websites but sees there is a little list of codes on the TV with a red or green arrow next to each code. They have no idea what it is about. During this part of the news is often when they go to the bathroom, or into the kitchen to get a coffee. Last week I noticed a reader on one of the commercial channels whose job was to read the Chinese financials and she had a sweet smile on her face the whole time, and gestured like she was discussing a Kardashian baby or something equally as important to world events.

 

Why can't it be both a blood bath and a correction? Rising X% and going back to where it started is not the same as it never having gone up at all. When people lose money that can have flow on implications.

 

Shanghai up again quite a bit today
Big gains over the last few days.
I don't know who is more unpredictable: them or the greeks.

 

It's because the Chinese Government buy back the shares after they halt the trading last week. So it bounced back.

 

And how long can this artificial intervention last?

 

Only the Chinese government will tell.

Anyhow, I'm wondering what happens to the OTP apartment that is growing out of control in Sydney ?

Is the price going to be even higher or crashing down in the next two years.

 

Get a rope!

 

Right on, it's absolutely artificial intervention. The govt has suspended selling of a huge percentage of the market...wtf, so much for free markets. You can buy but not sell... Happy to see it go up but not down...the only reason they can ,at least in short term,get away with it is because :
1. They are communist and can manhandle anything they don't like with supreme authority and
2. They have the money

Nothing to do with how good they are, or are not.

 

What for @sash ?

BTW, Ropes Crossings in NSW is already gone man.. http://www.ropescrossing.com.au/