Sydney is very pricey & no public house,a SG just found out

last SG · 2008-07-29T18:11:12+00:00

I think the above report is a bit different from wat I observe. People r still trying to find HDB flats rather than private housing because the price is much...

SingaporeTyrannosaur SG

Fireice just banned my account and I think the reason is because she need to protect the interest of M13 and Eagle and she doesnt like me to expose their nonsense and stupidity in this forum.

Aw... don't be sad you got pwned again.

Hmm, somehow he reminds me of the kind of players in FPS games that will get 40 deaths and -15 kills in a game and still keep coming back for more all the while blaming others, the game makers and just about everything else for their poor performance.

What can we say, despite years of being here he's still a:

AndrewPKYap SG

Olympics

Monday, 11 August 2008 14:31 UK

Rank Country Gold Silver Bronze TOTAL

1 China 9 3 2 14

2 South Korea 4 4 0 8

3 USA 3 4 5 12

4 Italy 3 3 2 8

5 Australia 2 0 3 5

redDUST SG

Monday, 11 August 2008 14:31 UK

Rank

Country

Gold

Silver

Bronze

TOTAL

China 9 3 2

South Korea 4 4 0

USA 3 4 5

Italy

5 Australia 2 0 3 5

what has australia's current medal standing has to do with housing prices in sydney?

AndrewPKYap SG

This thread is not about housing prices but Australia bashing. The freehold landed property prices in Sydney is much better than the despot's run prices in sillipore.

redDUST SG

This thread is not about housing prices but Australia bashing. The freehold landed property prices in Sydney is much better than the despot's run prices in sillipore.

....ok.....but how does the medal tally figures here?

SPLIT SECOND SG

In fact you all dont know, Oz govt has tons of money. But they are keeping it for future use.

lionnoisy SG

In fact you all dont know, Oz govt has tons of money. But they are keeping it for future use.

The budgetary balance of Oz only occured from 2005/06 ,after 30 years in deficits!

http://www.budget.gov.au/2007-08/overview/html/overview_40.htm

How much do Oz gavaman has in fiscal reserve which come from

budgetary balance?

Pl dunt mix up with foreign reserve which is banks and depositors'

money,not net assets of federal gavaman 's money.

Take note the 'strong ' oz currency is wholely supported by

high deposit interest rate.What if the deposit rate drop?

http://news.smh.com.au/business/rba-says-fiscal-position-among-the-best-20080515-2epi.html

Since Australia had shifted from a run of mostly budget deficits until the mid-1990s, to surpluses.

DUNT JUST THINK what should be the facts.Do the research before u post

SPLIT SECOND,according to past postings,stayed in Oz.

This is unfortunate that s/he just think what should be the facts,

without click the computer to find the truths.

Many people just like him/her.I am not suprised.

http://www.sgforums.com/forums/10/topics/326699?page=2

-----btw sg children are childish and mindless compared to aussie kids.

You will at least not find that many kids in oz who talk about flying out of the window like batman or spiderman....

I like discuss with people stayed in Oz or still stay there.

They think they know Oz well.

Do they know one of the treasures of Oz is dying?

http://www.mda.asn.au/index.cfm?objectid=531DFDAF-DD37-1219-FD2A8B707850E02B

Genie99a SG

You call it a propaganda but yet you have failed to touch on the most expensive part of living, which is related to housing.

Australians household saving rate, like UK and USA, are currently at record low while debt/income ratio are at record high. What this means is that most household are heavily in debt due to mortgage.

Hence when you combine that with a 9.25% pa mortgage rate, you will see that whatever extra an Australian earn as compared to Singaporeans, actually goes back to the banks to pay off interest.

Debt-to-income

Saving ratio

Household gearing (ratio of debt-to-assets) by income

True that .... Australians are culturally different to us. SG chinese believe in saving and working hard then enjoying life during their twilight years. Aussies don't have that in their culture. They believe in spending what they earn and enjoying life and because they pay high taxes the general sentiment is that the govt has to take care of them when they are old and retired. Hence Centrelink and all those welfare.

Genie99a SG

Oh and to add to that..... if the govt fails to provide those welfare they feel "cheated" and vote the govt out . Hence why some peeps feel that Aussies are lazy. They on the other hand feel that since they pay taxes when they are working the govt has a duty of care to provide for them when they are old.

Genie99a SG

The budgetary balance of Oz only occured from 2005/06 ,after 30 years in deficits!

http://www.budget.gov.au/2007-08/overview/html/overview_40.htm

How much do Oz gavaman has in fiscal reserve which come from

budgetary balance?

Pl dunt mix up with foreign reserve which is banks and depositors'

money,not net assets of federal gavaman 's money.

Take note the 'strong ' oz currency is wholely supported by

high deposit interest rate.What if the deposit rate drop?

http://news.smh.com.au/business/rba-says-fiscal-position-among-the-best-20080515-2epi.html

DUNT JUST THINK what should be the facts.Do the research before u post

Another interesting post and lion is stating a fact and I agree with it.

However bro there are reasons why its like that. Read my post above about the welfare system in Australia and you'll understand why it has deficits. The federal govt is working on a tightrope you see. It has to reduce deficits BUT if he cuts into welfare then the people get angry and vote them out lol.

But its still a lucky country cause of natural resources ... an eg. is uranium which I think is sold to China. And the mining Industry in Australia..... talking about that did you know that working as a miner in Australia netts you $100k AUD a year? I myself was shocked lol and you don't need a 3-5 year degree for that too. But i guess its dangerous work.

lionnoisy SG

above:A$1 vs USD only.

http://sg.finance.yahoo.com/currency/convert?from=AUD&to=USD&amt=1&t=2y

Oz possess few traits of Asian economic crisis---

-----high current account deficit vs GDP

-----banks borrows Foreign currency at lower interest rate

then lends at higher interest rates

----huge external debt

----fiscal balance not substinal(pl read my graph shown above)

----inflation in 17 years high

http://www.imf.org/external/np/exr/ib/2000/062300.htm

1.sudden currecy drop

BUT A$ drops 9% at trade --weighted to various currencies in less than 1 month!!

2.The current account deficit rate is higher than few countries

in Asian financial crisis.

Oz current account looks not so rosy,at US$56.2 b vs GDP US 760 b at PPP.

about 7.4% of GDP.

https://www.cia.gov/library/publications/the-world-factbook/geos/as.html

3.High external debts---mostly private debts

read CIA above then u know.

It is 108 % and 90 % of GDP at PPP and GDP at official exchange rate respectively.

This is on par and worse than with few hard hit countries before the crisis:

Thailand ---90%

Korea ---32%

Indonesia ---55%

It looks not nice combined with sudden drop in FX rate.

Of course,i cant say the crisis is coming,for i dunt have the crystal ball.

But can u deny there are some things looks familiar.

U also can say,hey Oz get rich underground resources.Yes.

U are right.

Now i think the key is if house price will drop further.

If it is,then most likely problems will come,like USA and other countries

sub prime.I told u OZ still grant 100 % loan.Banks will have to write off

and may face difficult to pay interst and principal to external creditors,

and then EXCHANGE rate!!

U better pray followings will not happen

----house price drop further

----drop further in FX rate(it is a resultant effect rather than a cause)

----lower deposit interest rate which will drag down FX rate

-----mega currency sabotage operation like in the crisis(u will be naive

if u think profits--seekers only target at non--English speaking countries)

-----if u find any huge short selling of Oz dollars,pl share here.

read this for house report

http://www.ljhooker.com.au/cmsdata/files/internet/cms_489faf9929708.pdf

maurizio13 SG

Another interesting post and lion is stating a fact and I agree with it.

Economic reality:

1) Despite the high debt level of Australia, their currency is still higher than Singapore. If Australia is like what you made it out to be, wouldn't the exchange rate tend to Indonesia or Malaysia?

2) Australian's workers make more per hour compared to Singaporeans. They have higher spending power compared to Singaporeans.

3) As a result of a miner's job scope, they exposed themselves to risk of death / disability everyday. Therefore they are paid for the risk they take, the higher the level of risk, the higher paid they are. There is nothing to be shocked about, the shock is a result of your level of understanding.

maurizio13 SG

lionnoisy,

1) With all the reserves Singapore has and the deficits that Australia has. Why is the inflation rate in Australia 4.5% (Jun 2008), while Singapore is 7.5% (Jun 2008)?

will4 SG

There seemed to b exodus of talented local to Australia.

lionnoisy SG

Economic reality:

1) Despite the high debt level of Australia, their currency is still higher than Singapore. If Australia is like what you made it out to be, wouldn't the exchange rate tend to Indonesia or Malaysia?

2) Australian's workers make more per hour compared to Singaporeans. They have higher spending power compared to Singaporeans.

1.I just say Oz possessing some traits before the crisis.I am not saying what should be the CURRENT FX rate.I just say''hey fren.Do u know these info.''Thats all.

No offence.

2.OZ higher wage but come with higher price.

3.Why do u talk about miners?What u say seem refer the high deposit interest

rate u will get if u park your $$$ in A$.Low deposit interst rate mean lower

risk.Do u know why they pay u so high deposite interest rate?

lionnoisy SG

lionnoisy,

1) With all the reserves Singapore has and the deficits that Australia has. Why is the inflation rate in Australia 4.5% (Jun 2008), while Singapore is 7.5% (Jun 2008)?

There is no corelation between reserve,I think u mean fiscal reserve,

and inflation.But if u talk about gavaman use fiscal reserve to subsidy fuel,

foods etc,then it is related.

But SG never give subsidy to fuel and foods,except housing.

lionnoisy SG

There seemed to b exodus of talented local to Australia.

yes.i think i post the data in this forum.But there are many local and overseas

born Oz citizens and PR left every year.

New arrivals in Oz helps to support the little--falling property market.

read this

http://www.ljhooker.com.au/cmsdata/files/internet/cms_489faf9929708.pdf

Sit tight---some shocking news

I dunt know it is tip of iceberg or isolated case.

U are the one to interpret.U may not like to hear,

Like Chinese say,Good advice taste sour.

One of the property mortgage fund extend freeze on redemption

to one year and the worse is default rate is good 53%!!

During the 6 months ended 30 June 2008 the Fund was scheduled to receive loan repayments of approximately $725 million, however the actual loan repayments received by the Fund were $343 million.

This has necessitated the difficult decision by the Board to extend the deferral of redemptions for up to a further 180 days, bringing the total deferral period up to 360 days.

http://www.citypac.com.au/citypac/documents/email/20080728_Letter_to_investors_CPFMF.pdf

http://www.theaustralian.news.com.au/story/0,,24185085-643,00.html?from=public_rss

http://www.theaustralian.news.com.au/story/0,,24086208-25658,00.html?from=public_rss

fishbuff1 SG

it takes guts and daring to do emigration, something which the saf lacks.

it is better stay in SG to play soldiers while still staying in parent’s house.

lionnoisy SG

it takes guts and daring to do emigration, something which the saf lacks.

it is better stay in SG to play soldiers while still staying in parent’s house.

SG get high inflation.So more people migrate will ease it.

Will i get one dollar if one more leave behind to suffer?

I just want them do proper home work before landing in Oz.

Dunt get a hot potato once they land----quickly buy a house

not even know the reality.

see .one more Centro property group in trouble--

already old news stretching from 2007;

cant pay interest on loan

http://www.centro.com.au/NR/rdonlyres/7DBB997F-DA9C-42BD-9FC9-E856CBD5B543/0/LettertoInvestors30June2008.pdf

26.06.2008

Centro advised that it had elected to not make the coupon payment
due 30 June 2008 on its Exchangeable Notes. This option was
elected to conserve liquidity and against the background of Centro’s
declaration of a nil distribution for the six months to 30 June 2008.
As a result of choosing this option, Centro is prohibited from making
any distribution to ordinary stapled securityholders until such time as
the missed payment has been made.

maurizio13 SG

There is no corelation between reserve,I think u mean fiscal reserve,

and inflation.But if u talk about gavaman use fiscal reserve to subsidy fuel,

foods etc,then it is related.

But SG never give subsidy to fuel and foods,except housing.

You mean exchange rates, reserves and inflation are not linked?

1) MAS controls the exchange rate between the various currencies.

2) If MAS appreciates the SGD against the USD, it will make our imports cheaper, thereby reducing inflation.

Ermmmm.....

Singapore never give any subsidies for housing, they only give a discount. e.g. If the cost of production is $50k, they selling at $200k, they give you 10% discount. But ultimately they still pocket $130k.

This is alot like the discount some smaller departmental stores give to customers, they mark up the price, then give you a discount, tell you, you managed to save alot from the discount.

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