Sydney is a wealthy city

Discussion in 'Property Market Economics' started by hash_investor, 9th Jun, 2018.

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  1. hash_investor

    hash_investor Well-Known Member

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  2. sash

    sash Well-Known Member

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    So true.....Duie Bogaires like @datto are to blame ....@datto youse have put us on the map...
     
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  3. Illusivedreams

    Illusivedreams Well-Known Member

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  4. datto

    datto Well-Known Member

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    Yes, thank you. Just hope those rich bogans can spruce up their image... maybe a buzz cut and French poodles to replace the mullet and staffy.
     
  5. sash

    sash Well-Known Member

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    Mate the mullet and staffy are the rage now.....walk around Newtown.....Druie is the bees knees...don't know about property prices though....they are in free fall...
     
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  6. Ted Varrick

    Ted Varrick Well-Known Member

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    ACDC and VB T-shirts are going to become the attire du jour in Newtown shortly then.

    And Vape holders that resemble old Winnie Blue packets will sell by the ton.

    And @datto 's collection of Torana badges could just be attached to old Ford Meteors and Holden Camiras and sold for top dollar (surely they'll never know the difference).
     
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  7. sash

    sash Well-Known Member

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    Youse heard the trend on Property Chat...... I can hear all the pubs in Newtown playin' Cold Chisel, Acca Dacca...ya na.....
     
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  8. Omnidragon

    Omnidragon Well-Known Member

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    Sydney is very wealthy
    I wonder how much is tied in real estate vs income generative assets (eg coal mines, LNG, Newcastle, education) etc.
     
  9. Duck1234

    Duck1234 Well-Known Member

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    Not sure how much wealth there is if you don’t count prop
     
  10. hash_investor

    hash_investor Well-Known Member

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    not sure why people don't want to count property as wealth
     
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  11. Duck1234

    Duck1234 Well-Known Member

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    Doesn’t generate income
     
  12. Duck1234

    Duck1234 Well-Known Member

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    Would definitely count IPs
     
  13. lightbulbmoment

    lightbulbmoment Well-Known Member

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    Australia has created a whole generation of millionaires through there one ppor.

    Definatelty should be counted
     
  14. hash_investor

    hash_investor Well-Known Member

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    can you show me a definition that does not include 'non income generating assets' in your net worth? Ask your mortgage broker first.
     
  15. radson

    radson Well-Known Member

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    bugger...there goes precious metals, art, and much of the NASDAQ.
     
  16. Herbert

    Herbert Well-Known Member

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    Wealth is notional, you pay more for a house therefore its worth more.

    Think on this, the houses in Australia, a country of 23 million, are worth nearly as much than all the houses in the UK, a country of 66 million. And of course UK houses, (considered overvalued and overcrowded), are worth far more than German housing (pop 82 million)

    Interestingly, populations are no longer really known, it has been suggested that up to 15 million people are hiding in the UK, and God knows how many in Germany. Information not currently welcomed by the authorities.
     
  17. hash_investor

    hash_investor Well-Known Member

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    hiding? do you mean illegal?

    being part of EU there are always going to be outsiders.
     
  18. Eric Wu

    Eric Wu Well-Known Member Business Member

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    wealthy vs expensive, :cool:
     
  19. Illusivedreams

    Illusivedreams Well-Known Member

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    [​IMG]

    IT seems around 50% of our wealth is OC homes.
    50% in other assets

    Shares and property boost Australian household wealth - Morningstar.com.au

    Interesting article.

    I found this part interesting: extract towards the end.
    "Low wealth households did not experience any real increase in net worth over this time, with the average net worth of $36,500 in 2015–16, similar to 2003-04 when it was $33,000."
     
    Last edited: 13th Jun, 2018
  20. JDP1

    JDP1 Well-Known Member

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    When has this not been the case? From gdp numbers..its the wealthiest, highest value, most strategically important, et etc
    It will almost certainly keep its position top of the table in the next 15 years I'd say.
    Sydney is the main reason why Australia has some influence in the world.