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The Bar For non Automotive Related Chat |
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#301 | |||
FF.Com.Au Hardcore
Join Date: Nov 2009
Posts: 1,421
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Low consumer confidence has been caused, IMO, by the fact that Australians are leveraged to the eyeballs with personal debt and have realise they need to pay it off. They see the rest of the world in trouble and think - "holy bjsus, we're really up to the eyeballs here. We better pay some of that down, just in case." This retail slow down has been happening for a while... the housing market in Perth turned around a few years ago, Gold Coast, Central Coast NSW etc all started a few years ago. There have been cracks already appearing. I think that the recent events have just amplified it, more than casued it. |
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#302 | |||
Banned
Join Date: Mar 2011
Posts: 455
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No Govt will ever be totally effective until electorates take more interest in policy and politics and the broader well being of the country rather than their own self interests. |
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#303 | |||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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I've been waiting for people to jump on the old 'self fulfilling prophecy' angle. Now things are turning bad as many here have predicted, the optimists, unable to accept any responsibility for where we are at, are trying to shift blame away from themselves. Im not buying it and Trippy is spot on. The economy is stuffed and greed and cheap credit have fuelled it. |
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#304 | |||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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I made a post in the house price thread about a discussion i had with a real estate agent friend about housing affordability. To cut a long story short she told me housing wouldnt crash as such as the banks couldnt afford to let it happen. People will lose their homes, of this she had no doubt as many have over commited, but she predicted the financial institutions would look to rent to own the foreclosed properties to avoid flooding the market and forcing values down. |
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#305 | ||
I am Groot
![]() Join Date: Dec 2007
Location: Burnett Heads, Qld
Posts: 6,840
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Christ!! some of you guys should be on suicide watch....
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.. ![]() ![]() ![]() ![]() "Those were the days when the cars were cars, they weren't built out of an Ikea pack like they are now and clothed in plastic; they were real cars." John Bowe |
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#306 | |||
Banned
Join Date: Apr 2009
Posts: 598
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I don't have any problem buying 2 american dollars for one aussie dollar. Ask me if i was happy to pay $700 aussie dollars to take a family of four to Disneyland in 2001 for ONE day, (without food and drinks)? We were 0.48c then... Why shouldn't their inferior currency ( which has enabled them to buy goods at very distorted cheap prices for years) be worth less than ours? |
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#307 | |||
FF.Com.Au Hardcore
Join Date: Nov 2009
Posts: 1,421
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One thing to note, however, is that if this happened, then there would be a flood of rentals on the market and this would force prices of rent down. My assumption would be then that the investors who bought in higher and need high rental yield would pull the pin. Opinions? |
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#308 | |||
FF.Com.Au Hardcore
Join Date: Nov 2009
Posts: 1,421
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#309 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Location: Filling up
Posts: 1,459
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I am not even going to try to predict the markets anymore as I was out by a long shot earlier in this thread.
However I would like to point out that what ever you beleive may happen you do realise you can make a substantional amount of money if you are proven to be correct? For instance if you genuinely beleive the market will crash and burn, then you do have the ability to short sell - likewise if you beleive the market will recover and everything is rosy than you have the ability to invest in the market and reap the rewards in a few years time. I wonder if anyone has done either? My thoughts are that there are issues with the local economy, this is based on my personal experience. I have recevied an increase no. of liquidation auction notices - plus we are noticing more people coming off the street asking for work (typically we dont get a lot of that) Having said that I have no doubt some businesses are doing well in the current enviroment - but we should recognise others that are not (this no doubt has an impact on some Australian families and we should recognise that) So its not all doom and gloom but its not all rosy either - for those that have it good - thats great news I hope it continues for those who are struggling I hope things turn around
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VIXEN MK II GT 0238 with Sunroof and tinted windows with out all the go fast bits I actually need ![]() |
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#310 | |||
FF.Com.Au Hardcore
Join Date: Dec 2004
Location: Newcastle NSW
Posts: 7,890
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Quote:
If you know how negative gearing works, then a decrease in the rental yield means a bigger negative cashflow, which means that the ATO will be picking up some of the shortfall. How much depends on the tax position of the investor, who even has the option of varying the amount of tax they pay from one pay top the next - no need to wait until the end of the financial year. So it would have to be a significant rent drop to affect a landlord. And consider this, if mortgagors have been forced out of their homes by the banks, where are they going to live? They are now renters, keeping the demand for rental properties high - maybe even renting their own home off the bank - which when you think about it is not much different to paying the mortgage.
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T3 TL50 #147 Silhouette Auto ESS - Brembos - Last of 3 in T3 spec, only AUIII TL50 ever built -14.2 sec @ 98mph bog stock. Only customer ordered T3 TL50 built, only LWB sedan plated AUIII and the last performance enhanced LWB sedan built by Ford Aust. AUII Fairlane Ghia Sportsman 5.0L in Blue Pearl OWN THE ROAD |
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#311 | |||
RPO 77
Join Date: Feb 2006
Posts: 1,921
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Quote:
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Q: If you have tried to sell it three times now and it is still not sold, do you think it might be over-priced? A: It is over priced - just like all the other falcon coupes for sale!! ![]() ![]() Last edited by Auslandau; 11-08-2011 at 08:26 PM. Reason: Quit the personal comments .......... !!!!!!!!!!!!! |
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#312 | |||
FF.Com.Au Hardcore
Join Date: Jun 2008
Posts: 1,137
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#313 | |||||
Captain Malcolm Reynolds
Join Date: Mar 2007
Location: Adelaide
Posts: 3,830
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__________________
Currently: 2014 Mazda6 GT (Daily) and 1999 Mazda MX5 (Fun Car) Previously: 2001 Ford Escape XLT; 2010 MC Mondeo; 1984 FD LTD; 2001 AU2 Falcon Forte; 2005 LS Focus Zetec; 1988 RE Colt; 1982 RB Colt; 1974 KE20 Corolla Quote:
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#314 | |||
FF.Com.Au Hardcore
Join Date: Dec 2004
Location: Newcastle NSW
Posts: 7,890
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Quote:
If people have a resonable level of equity the banks aren't going to take possession straight up, especially if they have a heap of defaulters. The banks aren't in business to sell houses. A lot of people may be forced to downsize, from house to unit for example. As you say, some would share/rely on family, but not everyone is going to end up on the street. This is all speculation IMO, I think Australia won't be too badly affected in the total scheme of things. The carbon tax is just as likely to cause major upheaval for some families as the world economy
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T3 TL50 #147 Silhouette Auto ESS - Brembos - Last of 3 in T3 spec, only AUIII TL50 ever built -14.2 sec @ 98mph bog stock. Only customer ordered T3 TL50 built, only LWB sedan plated AUIII and the last performance enhanced LWB sedan built by Ford Aust. AUII Fairlane Ghia Sportsman 5.0L in Blue Pearl OWN THE ROAD |
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#315 | |||
BLUE OVAL INC.
Join Date: Feb 2006
Posts: 8,645
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I would suggest it is a logical fix to a serious problem. She believed people would be offered lifetime leases of fixed payments to live in the property as if their own. Well see what happens hey... |
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#316 | ||
Bring back Ambrose!
Join Date: Dec 2004
Location: Eau Rouge
Posts: 1,248
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Dow regains 3.9% overnight, S&P 4.6%, Nasdaq 4.7%.
Really is all over the place, my head hurts. |
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#317 | |||
FF.Com.Au Hardcore
Join Date: Nov 2009
Posts: 1,421
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Quote:
By the way, is it true that since Super was made compulsary the average return has worked out to be 3.8%? I swear I saw that the other night on 7:30 report special on super. Now, if that's true, doesn't it meant hat some people would have been better off in a high-interest savings account? Again: Spelling. Sorry! Last edited by trippytaka; 12-08-2011 at 10:16 AM. |
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#318 | |||
FF.Com.Au Hardcore
Join Date: Nov 2009
Posts: 1,421
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Interesting! I think it's a good thing to get rid of betting on failure.
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#319 | ||
Trev
Join Date: Apr 2006
Location: Was Perth, now country Vic
Posts: 8,017
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Wonder how many billions the blokes that masterminded this little charade made out of their games this time around...
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Trev (FPV FG II GT-E thus the fully loaded burger with the lot as standard +Alpine/Dynamat fitout - 2 of only 4 ever made GT-E factory 9" rear rims - Michelin Pilot Supersports - Shockworks Suspension) |
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#320 | |||
Petro-sexual
Join Date: Dec 2004
Location: Melbourne
Posts: 4,527
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http://www.heraldsun.com.au/business...-1226113514356
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#321 | |||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 12,077
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Quote:
High dollar means no backpackers and together with the floods and cyclones it has just got too much. Whales, reef and Fraser are all hurting badly. Interestingly it is the ATO rather than the banks who have pushed many over. Some were struggling and had to enter into payment arrangements for various BAS, PAYG & super etc. and when they were still short were being stomped on. Nett effect, many lost jobs and are now unemployed, creditors just lost their money and the tax will never be paid as the companies were wound up. Obviously "The goose that laid the golden egg" is not understood in Canberra. I have friends who have lost everything, millions of dollars, by trying to tough it out rather than just sack everyone and batton the hatches and I have a reasonable 5 digit bad debt ledger. But it will turn around like it has every other time. Last edited by flappist; 12-08-2011 at 03:05 PM. |
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#322 | ||||
Former BTIKD
![]() Join Date: Mar 2005
Location: Sunny Downtown Wagga Wagga. NSW.
Posts: 53,197
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Quote:
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__________________
Dying at your job is natures way of saying that you're in the wrong line of work.
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#323 | |||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 12,077
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#324 | ||
FF.Com.Au Hardcore
Join Date: Nov 2009
Posts: 1,421
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What is going on in Vic? I understand that QLD and would be hurting - natural disasters, tourism... but what's going on in Vic? It's also the state with fast retreating house prices.
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#325 | |||
Former BTIKD
![]() Join Date: Mar 2005
Location: Sunny Downtown Wagga Wagga. NSW.
Posts: 53,197
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Maybe some members on here are right. I just got this from a friend in Seppoland
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__________________
Dying at your job is natures way of saying that you're in the wrong line of work.
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#326 | ||
Steve
Join Date: Jun 2007
Location: Sth East Qld
Posts: 1,284
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Ha very good ...
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Currently no Fords . 2005 Statesman International 5.7, Mazda 2 and a Hilux. Former Fords: 2010 Ford Escape 2007 BF11 GT, TE50 Series 1 ,AU V8 One Tonner ,EL Falcon Wagon, ED Fairmont , EB Falcon Series 1. Mk 2 Cortina Company Fords : 3 BA Falcons , EB 11 Falcon Wagon , Ford F350 351 V8. |
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#327 | ||
T3/Sprint8
![]() Join Date: Jan 2005
Location: Australia
Posts: 16,411
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Thank christ a giggle in this thread - oh I forgot I'm consumed by the copy and paste of all things Doom via the fibre hwy. Dam you people I had a laugh for a mo Thanks GasOlane !
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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#328 | ||
GT
Join Date: Apr 2005
Location: SYDNEY
Posts: 9,205
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hey guys guess what . i havent watched the news , this week at all , had social things on besides work . life hasnt changed a bit . what i'm trying to say is whatever has happened in the markets has effected me about as much as a storm on jupiter. havent checked super either .
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#329 | ||
T3/Sprint8
![]() Join Date: Jan 2005
Location: Australia
Posts: 16,411
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Well don't check gtfpv because you'll be whinning for sure LOL......
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Tickfords T3/TS50 '02 Sprint8 manual Sept 24 '16 Daily Macan GTS "Don't believe everything you read on the internet. Abraham Lincoln" |
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#330 | ||
Fossil fuel consumer
![]() Join Date: Jul 2005
Location: Mod For: Pub, Bar, Sales Yard, Show 'N Shine, Photoshop, AU to BF, FG to FGX, Territory & Sports Bar
Posts: 17,038
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oh thank god, nothing in our way of life has changed this week - looks like we're set then.
GUYS, WE'RE ALL GOOD NOW. |
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