Seems we have alot of wealth, wealthy people among us. Actually surprised how much

Discussion in 'Property Market Economics' started by Illusivedreams, 1st Jun, 2018.

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  1. petewargent

    petewargent Buyer's Agent

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    Ken Oath - another 250 million Chinese to urbanise by 2030, it's a monster.
     
  2. marmot

    marmot Well-Known Member

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    Do those figures include the housing construction industry, as they can be a bit misleading.
    How many hours are required to build a house , but once it is built how many properties will one property manager look after.
    But building to many houses and apartments (more jobs) can affect house prices and less jobs in the real estate industry.
     
  3. Sackie

    Sackie Well-Known Member

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    Had to Google 'ken oath' meaning . :)
     
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  4. MTR

    MTR Well-Known Member

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    Nope, china way behind, not even close as per OP link
     
  5. Duck1234

    Duck1234 Well-Known Member

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    Also want to add yes China has moved a lot of people into middle class and yes China is advancing rapidly. But their demographic dividend is running out FAST. Give it another 10-20 years, they might be stuck in the 'middle income trap'.

    So the supply from endless Chinese buyers might end sooner than you expect................
     
  6. Gockie

    Gockie Life is good ☺️ Premium Member

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    Well, the other school of thought is there's a bucket load of Chinese people though. And Indians also have a lot of wealth potential too. And many will want to live in Aus.
     
    Last edited: 9th Jun, 2018
  7. Duck1234

    Duck1234 Well-Known Member

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    As China become wealthier (after passing a certain level of wealth), paradoxically, less and less people want to come to AUS. People have less reason to migrate. But reasons to study and visit but more reasons to stay in China where their friends are and they don't have to face career ceiling. In a way, because China is not rich enough, hence they thought Australia has more opportunity

    Agree with the potential of India though.
     
  8. Duck1234

    Duck1234 Well-Known Member

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    Lol sorry, I guess what I am trying to say is nobody can really predict the future especially for a long term horizon. For every argument that properties will go up ion the medium term, there can be a corresponding argument against it.....

    I think you maybe right haha
     
  9. Sackie

    Sackie Well-Known Member

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    There have been many, many arguments made by all sorts of professionals over the last 50+ years about real estate crashes etc. And yet good stock in good areas still grow as cycles continue. You gotta be in it to have a chance. Otherwise you'll have to embrace working until 70 and then the pension.
     
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  10. Duck1234

    Duck1234 Well-Known Member

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    There are lots of other means to make money. And in a way, properties prices increase come from the drop in interest rate. There is not much to go. The next 30 years might be a bit different.
     
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  11. Sackie

    Sackie Well-Known Member

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    Agree many ways to make money. I am fairly confident real estate over the next 50 years will have many more opportunities for people to build wealth.
     
  12. Gockie

    Gockie Life is good ☺️ Premium Member

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    I reckon people still want to move to Sydney. It's a city that's still growing. Long term I don't think you can go too wrong with Sydney (especially house on well located land) but I'd look for a property that has access to transport. If you can reno or subdivide etc, that's an extra tick :)
     
  13. radson

    radson Well-Known Member

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    Seems nominally China is 70% the size of the US economy and expected to surpass the US around 2025?
     
  14. Illusivedreams

    Illusivedreams Well-Known Member

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    China's Economy Just Overtook The U.S. In One Key Measure

    Yes based on current currency vals. But China intenten is to devalue its currency.

    When looking at Purchase power parity than things are different.

    My understanding is withing 6/7 yearsChina will take over the USA even based on raw Gdp numbers.

    Denying China's velocity of growth is......
     
  15. MTR

    MTR Well-Known Member

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    No idea, China may take over, hearing this for years... who knows.... prediction different to fact
     
  16. Omnidragon

    Omnidragon Well-Known Member

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    Yes but China GDP PPP probably rivals USA

    What matters is what’s physically being produced isn’t it
     
  17. Omnidragon

    Omnidragon Well-Known Member

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    If we don’t get our act together and start innovating, yea.
     
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  18. radson

    radson Well-Known Member

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    The predictions have all been pretty similar, its not a case of if but when.

    China literally has a billion more people than the USA

    What's much more speculative is if China ever surpasses USA in GDP per capita?
     
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