By: fire.fly_au
24/06/2009
10:34 pm |
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By: jaymarcel
24/06/2009
7:15 am Yahoo! Profile:
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Hi dishonestnzsheila, Just picked up on your unemployment is rising comment, where did you see these figures & when did it happen, last I heard unemployment went down & we are not in a recession.
From what I am seeing businesses here are not struggling, I recently wanted a fence put up around my property & had to wait 4 weeks as they are so busy, I wanted an electrician to do some work on my house 3 week wait, just to get some tiling done a six week wait!
It is only the big international companies that are affected by the share market collapse that are having problems.
And when this is all over the housing market in the UK & USA will rise back to a similar level to ours & our property market will recover from its 5% drop in price. |
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By: sly_guy_nsw
23/06/2009
8:06 am |
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By: rodneythesaviour
17/06/2009
7:19 am Yahoo! Profile:
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There is much truth in what has been posted here below concerning the forecasting of a pending economic disaster.
Indeed, we should all rally round steve_b_wilson and cry -
AUSTRALIA - ECONOMIC DISASTER LOOMS.
Indeed we should make every effort to support his CRUSADE to awaken the populace to the crisis at hand and seek to encourage each and every member of the population to take action now which shall secure their financial security in the difficult times to come.
Be cautious and maintain financial flexibility.
A positive outlook and confidence are not enough. |
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By: dishonestnzsheilainoz
17/06/2009
7:14 am |
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By: dr.xingli
14/06/2009
7:29 am |
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By: copynpaste@rocketmail.com
13/06/2009
5:04 am |
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By: communists.are_evil
11/06/2009
10:19 pm Yahoo! Profile:
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Yes! The WORST is yet to come.
And why?
It is because we failed to see the truth.
And what is the truth?
The truth is that the P. R. of China has been and continues to work towards obtaining control of this nation.
chinadoll_b you preach such utter BS here on these BLOGs.. If you LOVE the P.R. of China.. GO LIVE THERE and leave us here in peace!
We are proud of our fine nation and do not need Kiwi shiela`s like yourself who simply suckle off the successes of the Oz economy whilst giving nothing back except critisism and complaint..
You Kiwi`s are really something else!!
You come over here and do nothing but complain.
Geez! I though the Brit migrants were a pain.. But you KIWI`s take the cake! At least the BROT`s do their best to make anew life here and become part of the community...
The corrupt and evil communist Chinese no longer satisfied with taking some of what we have now seeks to acquire all that we have.
We must defend what is ours and say NO to those who would steal our natural resources, corrupt our oficials and bribe our leaders.
Say NO to the communist Chinese before it is too late and all that is left is debt. |
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By: wealthforlife@rocketmail.com
4/06/2009
4:24 pm Yahoo! Profile:
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Thursday June 4, 2009
Australia dodges recession Q1 growth of 0.4% lessens need for rate cuts
SYDNEY: Australias economy expanded last quarter as the best trade performance in 48 years helped offset a slump in business and housing investment, putting it among the very few developed nations to have avoided a recession.
The Australian dollar hit eight-month highs as the economys resilience was seen lessening the need for further easing from the Reserve Bank of Australia (RBA).
'Weve dodged the recession bullet for the time being,' said Michael Blythe, chief economist at Commonwealth Bank. 'Its stronger than the RBA was expecting, and it reinforces the 'onhold for the time being' message.'
Wednesdays report showed GDP, the value of all goods and services, rose 0.4% in the three months to March, from the previous quarter when it fell a revised 0.6%. Recession is typically defined as two consecutive quarters of contraction.
Any growth at all was a rare performance among rich nations. The US economy contracted by around 1.6% in the first quarter, Canada by 1.4%, Germany 3.8%.
'The Australian economy has outperformed every other advanced economy in the March quarter, recording positive growth in the face of a savage global recession,'
Australian Treasurer Wayne Swan said in a statement.
Australias outperformance owes much to aggressive policy action from the central bank, which cut its key cash rate by 425 basis points in just seven months, taking it to a record low of 3.0%. The Labour government also weighed in with over A$52bil in fiscal stimulus.
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By: wealthforlife@rocketmail.com
4/06/2009
9:40 am Yahoo! Profile:
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I like annoying negative posters with positive info re the current economy,eg
3rd Jun 2009
The Australian economy expanded by 0.4 per cent in the March quarter, meaning we are not in a recession! Technically a recession is two consecutive quarters of economic contraction, so these latest figures prove that our country was never actually in the recession that all the doom and gloom 'experts' said we were.
The Australian economy was certainly affected by the global financial crisis but it is clear that it has avoided the sort of downturn experienced by other major developed economies. Much of the credit for Australia,s resilience must be given to the swift actions of the Reserve Bank and the Government in stimulating our economy.
Some words of wisdom from the experts at CommSec who have consistently been a source of positive opinion -
Gloom and doom reports in the media almost caused Australians to talk themselves into recession. The important thing now is that commentary and analysis of our economic situation becomes more balanced. While the tough times abroad must be acknowledged, the strong position of our economy must be similarly recognised.
One thing is clear , Australia went close to talking itself into recession. Our economic conditions were nowhere near as bad as other parts of the globe, but somehow we all thought they were as bad. If Australians focus on the opportunities that lie ahead then the rebound could be much quicker and stronger than envisaged only a month ago.
CommSec expects the Australian economy to rebound far quicker than Federal Treasury. In 2008/09 the economy will probably grow by only 0.6 per cent, but 2.1 per cent growth is tipped for 2009/10 and 4.1 per cent growth is expected in 2010/11.
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By: jaymarcel
4/06/2009
7:07 am Yahoo! Profile:
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| Hi viventhavelund, Gotcha, I misunderstood your investment. I agree with you that is why alot are in that position now, does not mean they are a bad buy for another investor though. |
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By: wealthforlife@rocketmail.com
3/06/2009
6:56 pm Yahoo! Profile:
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DONT WORRY STEVE,THIS SHOULD CHEER YOU UP!
OR ANNOY THE CR P OUT OF YOU!
Govt: Positive growth for the Australian economy
3rd Jun 2009
Today's National Accounts show the Australian economy has outperformed every other advanced economy in the March quarter, recording positive growth in the face of a savage global recession.
GDP rose by 0.4 per cent in the March quarter to be 0.4 per cent higher through the year, boosted by early and substantial policy actions by the Rudd Government and the Reserve Bank.
This positive outcome is a testament to Australia's resilience amid the global recession, and compares starkly with nearly all other advanced economies.
Of the other 22 OECD economies that have reported March quarter outcomes, 20 have contracted. G7 economies contracted by an average of 2.2 per cent in the March quarter.
Despite broader weakness in the economy, household consumption spending rose 0.6 per cent in the quarter, contributing 0.3 percentage points to quarterly GDP growth.
Crucially, without the Government's stimulus payments, Treasury estimates the Australian economy would have contracted in the March quarter by around 0.2 per cent.
Household consumption has now grown by 0.8 per cent through the past year. By comparison, private consumption in the G7 area (excluding Italy, due to lack of equivalent data) has contracted by 1.4 per cent over the same period.
As planned, the Government's economic stimulus payments are helping to support demand and employment until direct public investments come fully on stream. Public investment recorded a small negative contribution to growth in the quarter, but should pick up in coming quarters as the next phase of the Government's stimulus plans take effect.
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By: steveb_wilson
3/06/2009
6:44 pm |
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By: wealthforlife@rocketmail.com
3/06/2009
5:07 pm Yahoo! Profile:
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steveb_wilson; HERES SOME GOOD NEWS JUST FOR YOU STEVE!
It's official - Australia is not in recession!
3rd Jun 2009
The Australian economy expanded by 0.4 per cent in the March quarter, meaning we are not in a recession! Technically a recession is two consecutive quarters of economic contraction, so these latest figures prove that our country was never actually in the recession that all the doom and gloom 'experts' said we were.
The Australian economy was certainly affected by the global financial crisis but it is clear that it has avoided the sort of downturn experienced by other major developed economies. Much of the credit for Australia�s resilience must be given to the swift actions of the Reserve Bank and the Government in stimulating our economy.
Some words of wisdom from the experts at CommSec who have consistently been a source of positive opinion -
Gloom and doom reports in the media almost caused Australians to talk themselves into recession. The important thing now is that commentary and analysis of our economic situation becomes more balanced. While the tough times abroad must be acknowledged, the strong position of our economy must be similarly recognised.
One thing is clear � Australia went close to talking itself into recession. Our economic conditions were nowhere near as bad as other parts of the globe, but somehow we all thought they were as bad. If Australians focus on the opportunities that lie ahead then the rebound could be much quicker and stronger than envisaged only a month ago.
CommSec expects the Australian economy to rebound far quicker than Federal Treasury. In 2008/09 the economy will probably grow by only 0.6 per cent, but 2.1 per cent growth is tipped for 2009/10 and 4.1 per cent growth is expected in 2010/11.
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By: steveb_wilson
3/06/2009
7:38 am |
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By: vincenthavelund
2/06/2009
1:02 pm Yahoo! Profile:
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Hi jaymarcel,
Thanks for the advice, unfortunately the banks demand a 25% net margin when developers build and then there is another 6% margin factored into the projections when presented for funding this is the builders net margin. This leaves say an all up margin of 35%, I had a very large port folio and sadly had no choice but to sell, the same with a lot of my colleagues.
Anyhow its not all beer and skittles, when one is trapped the punisment is severe come what may.
I had properties in Terrigal, drop 45% down in Collaroy and the Bays 35%-40%, lets be realistic here we are talking about a lot of property and the drop was in developers/builders terms over 40%. You can believe it or not I am only explaining why there are so many bargains, available and possible more to come.
The banks decide our professional ratios not us! but thanx for the interest anyhow Jay. |
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By: jaymarcel
2/06/2009
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Vince you only lost out financially because you sold the properties, if you had kept them to sell now you would be a very rich man.
Where have you seen property prices in Oz drop 40% this time around. It hasn't happened.
Your sharemarket safe ratios should not have been applied to houses. |
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By: vincenthavelund
2/06/2009
12:35 pm Yahoo! Profile:
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HI,novicedealer
I can be very clear in answering that question because i was an investor that got caught badly.
I had always worked on a ratio of 35% equity and 65% debt, this is based on sharemarket safe ratios, which means your leverage is high enough to escape takeover and low enough for easy bank financing.
In the 1987-92 recesiion the the USA were in deep and values of homes over there dropped by about 30-35% I know cos I was living in California.
But this time here in Australia the drop in values has been horrific, some of my properties dropped by 40% and sold at less than half of the earlier values. All of our values were done by reputable bank valuers, with whom we had tremendous disagreements, we lost.
This is why the Aussie banks have been safe they bit the bullet early and we builders got caught.
So the answer to your question is that many developers and builders got caught short financed and have no option but to sell. If they dont the banks will sell them up and they will lose even more.
Personally I dont think the market has bottomed out, there are more yet that will fail, because they cannot get carry on finance and they cant cover their loans. This is where the bargains are coming from now. But beware there are more cycles to follow, home owners who maxi leveraged their homes are sweating, if they dont get returns on their investments their over leverage will start to bite soon, some can hang on for say 3-6-12 months, but unless changes come soon that will be the next wave of properties for sale, thats why there is still the fear of more decline in prices.
As the homes come under threat people will cut even their food budgets thats the third cycle, still forcing prices down. Sensible Govts have no choice, but to create more money through the RBA, and to try to circulate said money efficiently.
Govts have no idea of how to use money efficiently, what they need to do is get the money out to those who can. |
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By: jaymarcel
2/06/2009
10:49 am Yahoo! Profile:
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Hi Novicedealer, Investment properties are being sold for 2 main reasons. The first is these guys have lost alot of money in the sharemarket & need to get money somewhere to cover other debts, the second reason is with the current fhog cheap property is selling like hot cakes.
These are great investment because with interest rates so low there are some positively geared properties out their now, but remember these are only good if you have spare cash & a reliable income otherwise you may end up like some of these deperate sellers.
Everyone is greedy & its at the expense of anyone who's unlucky or lazy. Thats life. |
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By: wealthforlife@rocketmail.com
2/06/2009
10:29 am Yahoo! Profile:
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ON TO SOME GOOD NEWS;
Australia 'doing best' in recession
26th May 2009
AUSTRALIA is an island of calm amid the global economic storm despite pessimistic government and media responses, an international global business confidence survey shows.
One in five international businesspeople cited Australia as the country best surviving the recession in a survey of 7,500 people in more than 24 nations.
Australia placed first in the survey, ahead of China, with India and Singapore in equal third place. New Zealand also fared well, ranked ninth.
The survey conducted in April was aimed at gauging business sentiment and what impact the economic downturn has had on businesses globally.
Australian businesspeople appeared relatively unaffected, according to the poll conducted for Servcorp, a provider of virtual and serviced offices that operates in 61 nations.
"In my experience working with international businesses around the world, especially during the last six months, I've noticed how relatively unaffected (are) Australian businesses and... business persons' attitude by the economic downturn," Servcorp executive director Taine Moufarrige said.
"Over 71 per cent of Australian businesspeople believe we are the lucky country, and it's interesting to see that the rest of the world agrees."
Pessimistic media reports were the number one concern among Australian businesses, the survey found.
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By: csldfl
2/06/2009
8:38 am Yahoo! Profile:
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| I bought a 400K town house 3 months ago even though I believed Australia's property market is expensive. With government and trying all means and ways to support the property market, I don’t foresee any significant depreciation in the lower end property market. Other factors that support the housing market are forever raising building cost, population growth and economy growth of emerging market like China, India and Brazil. Many of the investment properties are bought by foreign investors. They have plenty of cash. |
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By: novicedealer
2/06/2009
7:38 am |
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By: wealthforlife@rocketmail.com
1/06/2009
4:48 pm Yahoo! Profile:
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I'll qualify my previous post by NOT including,
bigus1im
lasty49
mentawaisurf
as part of the one eyed monster gang
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By: wealthforlife@rocketmail.com
1/06/2009
4:41 pm Yahoo! Profile:
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Hi Vincent;
Youre wasting your time trying to reason with this lot.Theyre a bunch of one eyed monsters.I agree with everything you say and you obviously have a brain that sees it like it is,but these half baked gurus arent up there with us and like a wild pack of dogs the only thing they respond to is a loud bark and a whip.
I say shove them all into the army where they will learn to pull their heads in and shut up.They make out they care about Australia and its a load of BS.
Whatever their agenda is,it does not include the economic welfare of AUSTRALIA.
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By: vincenthavelund
1/06/2009
1:45 pm Yahoo! Profile:
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We are a capitalistic democrat society and we accept the flaws inherent within that society, which includes those with a negative or positive approach. We swing left or right and we are free to do so our forbears won that right and we vote as our conscious drives us.. This is a column for negativity, but sometimes that approach cloaks truth and fear, and I suspect a lot of the extreme emotions are because of some having to face the reality of declining asset values.
Greed is also a driving force which creates opportunity, thus we see negativity (greed) creating positivity (opportunity)what we need to do is understand that our society allows us the freedom to be whatever we wish to be.
It amused me to see a person say we old folk are none productive but he has almost reached the 40%, tax rate mark, he may need to find a better financial accountant and he may find help thus. If he cannot then may I suggest a better investment strategy as his investments can be used excellently as tax set offs, but only if done properly.
Those who can sit out this drama of the now, have no need for gloom, those who cannot need to know they can re enter on a low market anyhow. Everything is relevant thats what our freedom allows us there is no need for gloom, we are Aussies and we live in the best land in the world. I know because this old guy has been everywhere mate including 5 years in the USA and Europe. Gloom is for losers. |
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