The crisis thread
- Thread starter Mr.Cambio
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Geofflyn
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Well done Dem. My buddies in the UK property market tell me there is a lot of foreign cash going into UK property I certainly know of some from here) Money will move globally to value. Bizarre as it may seem I can buy aflat in London cheaper than Melbourne and that doesn't make sense and can't last.
Geofflyn
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When converted to Aussie that's cheap I can assure you.
Geofflyn
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Also some inexpensive ones I hear
Parisien
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I don't thing the Ozzies are doing an Irish or Spanish...ie property led boom then becoming a developers led boom....too much cheap money and it all goes doubles DD's up....
But it they rise too high too quickly...the market will self-correct......
P
bill
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I hear there is a half built temple style on top of a rock right in the middle of Athens but don't ask for a mortgage from any German banks....or French!!
im talking minimum though....small boxes.....you need 500k to get a good one, not great just good.....800k then its a big house
Geofflyn
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Definitely not a property lead boom as supply only meets demand but if we sell all our assets (corporate and resources) to overseas buyers then in the long term we lose. A better balance would be a weaker dollar and maintain some competitiveness in manufacturing.I don't thing the Ozzies are doing an Irish or Spanish...ie property led boom then becoming a developers led boom....too much cheap money and it all goes doubles DD's up....
But it they rise too high too quickly...the market will self-correct......
P
Geofflyn
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Dem you might want to have a look at realestate.com.au out of general interest.
Geoff
Geofflyn
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Same principles apply worldwide when you are trawling through the properties, that is you pay more the closer to the city or the beach. Maybe you will find something to entice you down under....best place in the world to bring up kids (I know I am biased but with relevant experience having brought ours up on 4 continents) Off to bed now
Cheers Geoff
Paco
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I was told recently that not only were Drachmas being printed but DM too. I suspecthe big investment Banks have already accounted for a break up of the euro and positioned themsleves accordingly, a return of market confidence would support this. An orderly wind-down of the euro over a few years wouldn't suprise me in the slightest.
Dem out of interest how many of your buyers are using mortgages to any significant level? Or buying to actually live in?
We're seeing a slight pick-up in mortgage enquiries at the upper end of the market, but anything sub £300k (remember I'm not in London) is rare. First homes are piling up around here!
We're probably 75% down on mortgage business which if you are a mortgage broker must be painful to experience. It was only ever 10% of our business so it has had no discernible impact.
Dem out of interest how many of your buyers are using mortgages to any significant level? Or buying to actually live in?
We're seeing a slight pick-up in mortgage enquiries at the upper end of the market, but anything sub £300k (remember I'm not in London) is rare. First homes are piling up around here!
We're probably 75% down on mortgage business which if you are a mortgage broker must be painful to experience. It was only ever 10% of our business so it has had no discernible impact.
hodroyd
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25 of the 27 (excluding UK & Czech) are supposed to be signing this Finance Pact in March, so everybody in it has to knuckle down to austerity as they call it. This has cooled the market somewhat temporarily, but I suppose they are all secretly waiting for the brown stuff to hit the fan again down the road somewhere.
Parisien
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The EU has been a poorly run ecomonic and political entity.
How the Germans and other Northern EU states known for their financial probity, let the rest of the idiots run the lunatic asylum is beyond me.
Endless reports of corruption and financial excesses......people just thought it would never catch up..........but it does.
Everyone of the Southern countires was guilty of dipping into that big well of cheap German, French and UK money......the aforementioned countries banks should have known better..................than to lend to banking systems/countries that were little more than "legalized" Ponzi type economies............everyone knew.........everyone is now guilty.....................( but not the majority of the ordinary citizens)....mind you.
P
How the Germans and other Northern EU states known for their financial probity, let the rest of the idiots run the lunatic asylum is beyond me.
Endless reports of corruption and financial excesses......people just thought it would never catch up..........but it does.
Everyone of the Southern countires was guilty of dipping into that big well of cheap German, French and UK money......the aforementioned countries banks should have known better..................than to lend to banking systems/countries that were little more than "legalized" Ponzi type economies............everyone knew.........everyone is now guilty.....................( but not the majority of the ordinary citizens)....mind you.
P
Elliott653
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I think that the fact that the EU's accounts have not been 'signed off' for two decades should have been a pointer to the short cuts and head in the sand attitudes that prevailed when all and sundry were let into the Euro.
hodroyd
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It is well documented that everyone who becomes an EU MP, also becomes an instant millionaire. They have money thrown at them and are fforced to take it, even though they may not need it. I tried one time to get assistance from a number of MEP's and never even got a reply, so they are a bunch of useless, very costly layabouts as far as I am concerned.