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The coming Aussie Ression will send you broke.
The coming Aussie Ression will send you broke.
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Thebas i can only speak from experience. Have plans to build another house. The reputable Master Builders we have quotes from can't fit us in for 6 months.
Bad builders go broke in any economy |
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true whoopi ...
and i think the Cavalier situation is just one independent franchise ... where the head office (like a gerry harvey i guess) .. will bail out the poor souls who have money tied up with that one off failed franchise ... waiting for their 'dream' home that won't eventuate |
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You do understand, Whoopi, that some builders are members of the MASTER BUILDERS
organization, they are not "master" builders? No different to members of the HIA ( Housing Industry Association.) Not suggesting it's not a good idea to go "through" them.. or rather... builders who are members. If it's anything like Victoria, I wouldn't be surprised if the start "delay" you mentioned is related to the ridiculous and onerous Builders Warranty Insurance scheme. Which amongst other things, severely limits the amount of $$$work a builder can be "exposed" to at any one time which on the surface seems a fair "safety net" for overextending, the truth however is closer to the insurance company limiting the builders exposure to his own asset holding. A debacle. cheers |
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about 500 jobs created today on a few work fronts, excellent news
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I started this thread 3 months ago.
Its incredible how accurate I have been and a credit to my superior ability to read between the lines.  Having endured the retorts of simpletons, megsy, unclee, logroller as well as a few other lesser minds, the chickens are coming home to roost.  Observe and learn simpletons.  "Here in aust we have an economy totally dependant on the mining boom which will soon end. We have govt who have so seriously over taxed and charged our economy that when revenue falls panic will set in.Labor will do what they always do and raise more taxes.That will be the final straw and the economy will collapse." this today from BHP no less  BHP Billiton is seeing signs that iron ore demand from top consumer China is flattening, raising concerns about Australia's trade outlook, but the world's biggest miner is pushing ahead with its ambitious plans to expand production. Chinese demand for iron ore has been the driving force behind years of expansion work by the world's biggest mining companies. More than 100 million rural Chinese are projected to settle in towns and cities in the next decade, requiring unprecedented amounts of steel for housing and infrastructure. But earlier this month, China cut its 2012 growth target to an eight-year low of 7.5 percent. "Growth is going to flatten off," BHP's iron ore division president, Ian Ashby said ahead of the Global Iron Ore & Steel Forecast Conference in Perth on Tuesday, adding that demand growth was seen falling into single digits. The news knocked the Australian dollar [AUD= 1.0512 -0.0092 (-0.87%) ], which fell a fifth of a U.S. cent to $1.0595 right after the comments. The forex market is very sensitive to any hint of softening demand in China given it is Australia's single biggest export market. "What is concerning is the potential impact of single digit demand growth for iron ore," said Stan Shamu, an analyst at IG Markets. "Iron ore demand from China makes up a bulk of our exports and this will impact terms of trade. This shows that terms of trade are peaking and likely to flatten down the line." We all now know that retail is on the ropes.  My 3 month ago comments " Anyone in retail already knows the consumer has closed his purse.Within months you will see shops close and annecdotally its being said that 30% of shops will close by june next year.Who knows if that particular number is correct but you get the point." Incredible accuracy.  That leaves the aussie dollar.Not yet down to 90 cents but certainly well off its highs of 1.10 and this year just over 108 ish. If my record is anything to go by you should be able to fill in the blanks from here. My knockers no doubt will come up with more inanity- it matters not.  Those with superior minds can now see where we are headed. |
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saw an interesting graph on ABC news last night - apparently China has a housing shortage that requires 3 new Beijings to cover it - i can't see demand dropping too much
US is coming good, Asia is strong, Europe is stabilizing - it'll be all good  |
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no recession with Monday, having a great run on wins. Fair to say will more than likely go till the end of the racing season.
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last post on this thread,
quote:..Incredible accuracy Get your travel in.The aussie dollars will be below 90 cents soon and may go to 60 cents ultimatly. This recession will be savage because the much of the world will have an even worse time of it than us. Politicians- far from providing solutions will just make the pain worse. what a f@ckin idiot  |
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bring on the ression. Ression=more desperates punting= mo money for the Whoopster.
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David Jones down 40% on turnover....wow!
Do we just ignore those figures guy's? |
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lazza some retailers haven't adapted to on-line trading. DJ's have now realised they need to update their philosophy and compete with the internet via a real commitment to on-line trading, and by offering service in their stores.
Retailers are now catching on that they need to increase, not decrease their staffing levels to remain viable and provide a point of difference to an on-line retailer |
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i'd hope David Jones don't ignore them but the rest of us might be able to - whoopi is spot on, retailers need to adapt to the new world or they'll keep going backwards
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So it's not the recession lol.
They're just taking $5...when around the corner you can get $7. Are the Board members fked in the head or something? When everyone has access to the same suppliers...The Corporate's with their Uni degrees ...look like fkn dills I'm sorry to say. |
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and when everybody converts to internet buying ... what exactly happens to the floor staff working at these organisations
do staff have mortgagaes .. do staff spend at other shops .. do staff educate their kids .. etc etc if you reckon this is a good thing ... then sadly we'll need a labor govt .. doing what they do best ... TAX THE REST OF US ... to keep up with all the dole payments that will be needed |
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Who said it was a good thing Thebas. I agree with you, but it's the unfortunate reality.
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yes it is the reality ... sadly whoops
and as more and more staff lose their jobs in the middle retail the flow on then .. goes to the next levels .. and when that spending consumer base is whittled .. thats a recession then if the mining sector contracts over the next 5 years ... well hell is ahead for many but still the bankers play their unrealistic profits game .. while producing no tangiblt product to help balance trade and with no govt .. anywhere in the world .. in a position to tax the 'bankers' properly the banking cartel weasled out of the UN currency tax possibility ... leaving us with only the fossil fuel tax ... to strip the saved wealth of the nation ... and with little REAL care for the environment i'm pretty much out of the game now ... but i can fear for the kids coming up thru this |
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i wonder just how much im paying to keep holden manufacturing their product in australia?
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people will miss retail after bit, plenty like shopping - the good shops will survive and thrive imo
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Interestingly womble, one of the Lowys { westfield } brothers has said that they see clothing and shoe shops and such closing but being replaced by eating and entertainment
facitlites.He said the day of a shopping mall {I guess he was talking USA } being wall to wall restaurants and eateries was not too far off. |
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one of the other reason they are closing is the fing crazy rents charged by people like him MrBen
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could'nt agree more with that womble.
I think the lowys also voted for dudd? |
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So do we put the downturn down to online purchases ..or the recession?
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the recession- online is still less than 5% of total retail sales.
the recession |
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there's no recession - dreams of growth every year are just that - dreams
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http://nett.com.au/news/australians-to-spend-13-6-billion-online-this-year-200223/
online sales soaring, “The general lack of an online presence by the large retail chains in Australia over the last decade has been a significant factor for a relatively poor up take of online shopping in Australia and New Zealand to date,people are heading away from top end department stores and trendy shops which are mostly the effected. |
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i dont know why you keep saying a recession is here, what recession?
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Why is growth so important ? An loose argument to keep economists and politicians to keep seeling the false dream and house of cards.
Got a call the other day from a company selling a govt policy that has been outsourced to buy cashflow positive housing stock , delivered through a weekly tax cut if you earn 70k etc. Another attempt to keep the bubble and house of cards standing.Fkn disgraceful IMO. Obviously not for those who buy in and not for the company taking their 5-7% cut....fk me |
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I disagree AP that growth is not important.
What caused the GFC is that excessive growth was ignored & monetary policy concentrated on keeping inflation in check. It is important to keep steady growth & not have bubbles or dips. |
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Agree generally Kye re: Growth, in terms of economic cycles on a national/ global scale. However , have doubts on how it is applied at a Micro level. For example , I buy a house to live , work and have a base from. As long as that same house holds to close to inflationary cycles .....Im happy. Don't care for growth as such under these assumptions
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property sales at 16 years lows.
the recession What’s happening in our property market? Fact is... the number of properties on the market is high, properties are remaining on the market for sale longer and many buyers are still nervous about making a decision. Of course there is not one "property market." What I call "investment grade properties" in the middle price range (say $450,000 - $850,000), in prime locations and with an element of scarcity, are still selling well; even though there is clearly less interest from both owner occupiers and investors than there was before. However "B" & "C" class properties are not selling well. Some have dropped in value by up to 10% and some can’t be given away (well... it’s not really as bad as that, but you’d have to give a very steep discount for someone to buy them). When you look at the whole of Australia property sales are at a 16-year low, with RP Data reporting that only 375,000 properties sold last year. In more normal times, sales were over 600,000 properties a year. The problem is that while turnover is down, the number of properties listed for sale is climbing with currently around 310,000 properties for sale around Australia. This is up 23 per cent on a year ago and more than 50 per cent above pre-global financial crisis levels. So what does this all mean for the future? This means the market has about 10 months' supply of housing for sale, up from a more normal level of four months of stock. In other words, unless we see a substantial improvement in sentiment or in the economy we are not likely to see much change in house prices over the next six months. What these figures don’t show is how fragmented the markets really are. We know there is not one Australian property market. There are many different markets in different geographic locations and at various price brackets. There is no doubt that home values are still falling in some areas and they are rising in others. And overall our property markets are flat. http://au.pfinance.yahoo.com/our-experts/michael-yardney/article/-/13271316/uncertainty-may-hold-opportunity-for-property-investors/ |
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Monday Mike's been on dripping and bread since Saturday. Thank god its payday Thursday.
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stock market to hit 5000 by years end - people starting to pull out of property and get back into the stock market it seems
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Stock Market wasn't that bad anyway for long term players. The good shares have paid very good franked dividends all along.
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It was bad for retirees like myself
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retired from primary school???
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joel...i thought you was still at school
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I am
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Bunnings to employ 5000 new Staff...it's a ression! it's a ression!
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david jones to open more stores with 2000 new jobs
myer to open more stores as well |
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this is the most prosperous ression we've ever had!
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