Australians Migrating to America in Record Numbers

[neddy]

Pretty sure the trolls will come in sometime soon blaring their horns about how they made huge profits investing in "affordable" US property during the GFC and selling now.

The BIS has a paper on "The housing meltdown: Why did it happen in the United States?" It is written by Luci Ellis, now the head of financial stability at RBA.

It seems like the housing situation in USA will be down for the next few years at least (or even longer, but perhaps not as decade long as Japan).
One of the key reason is the tax deductable interest. (see sect 3.2)

But it is hard to say if she is right, she also claim that there is no Housing Bubble in Australia. hahaha

I will know when I sell my Perth houses. I have interested buyers already calling the builder.

It is hard to time the market to make some capital gains on US housing. Not with the kind of unemployment levels in the US currently. People tend to be mobile and rent when jobs are scarce.

 

[Ash007]

The BIS has a paper on "The housing meltdown: Why did it happen in the United States?" It is written by Luci Ellis, now the head of financial stability at RBA.

It seems like the housing situation in USA will be down for the next few years at least (or even longer).
One of the key reason is the tax deductable interest. (see sect 3.2)

But it is hard to say if she is right, she also claim that there is no Housing Bubble in Australia. hahaha

I will know when I sell my houses.

?? you selling your house?

 

[neddy]

?? you selling your house?

Not my house yet.

I am quite concerned about the China housing bubble. Remember, whatever rubbish the Americans or Asians claim about Out of Recession - The interest rates are artifically low.

Any rise in interest rates will kill off the dyfunctional growth quickly.

See how edgy the world is over Greece. Greece debt is lower than US and UK, yet it is been targetted by speculators who bet on Euro's doom, and winning.

 

[Ash007]

Not my house yet.

I am quite concerned about the China housing bubble. Remember, whatever rubbish the Americans or Asians claim about Out of Recession - The interest rates are artifically low.

Any rise in interest rates will kill off the dyfunctional growth quickly.

See how edgy the world is over Greece. Greece debt is lower than US and UK, yet it is been targetted by speculators who bet on Euro's doom, and winning.

eh buy gold mate?

 

[neddy]

eh buy gold mate?

I have stopped buying gold. When were you when I was buying gold?
In the past it is good to buy gold when you are not earning Aussie $.

 

[woolsworth]

double post

 

[woolsworth]

Now come on, America is perhaps the most difficult country to emigrate to (legally) while Canada, NZ, etc is dead easy.
..........

Are you kidding ? The USA is the EASIEST COUNTRY in the world to emigrate to , legally or not . If you're unskilled , illiterate , aged or blind - as long as you can make it to the USA , you're are probably eligible for the Green Card !

Heck, it is easier to migrate to USA than to China or North Korea LOL....

Look at the Millions of unskilled Latinos that have become USA Citizens in the last 3 years .

The USA is such a SHIT country nowadays that even the Illegal Immigrants are leaving by the thousands.

http://www.reuters.com/article/idUSN2126758320071224

In the last few years , about 80,000 Illegal Migrants left the USA (Florida) to return to Central America

http://www.upi.com/Top_News/US/2010...mmigrants-leaving-Florida/UPI-76721265998145/


America USED to be a great country....... now it is just falling apart.

 

[neddy]

Are you kidding ? The USA is the EASIEST COUNTRY in the world to emigrate to , legally or not . If you're unskilled , illiterate , aged or blind - as long as you can make it to the USA , you're are probably eligible for the Green Card !

Heck, it is easier to migrate to USA than to China or North Korea LOL....

Look at the Millions of unskilled Latinos that have become USA Citizens in the last 3 years .

The USA is such a SHIT country nowadays that even the Illegal Immigrants are leaving by the thousands.

http://www.reuters.com/article/idUSN2126758320071224

In the last few years , about 80,000 Illegal Migrants left the USA (Florida) to return to Central America

Hey Woolies,
Arizonia has banned illegal immigrants. What do you think of that?

America USED to be a great country....... now it is just falling apart.

USA still has a long way to go before it is falling apart. No other countries can replace the influence and certainty of an American leadership.

 

[Aussie Prick]

Are you kidding ? The USA is the EASIEST COUNTRY in the world to emigrate to , legally or not . If you're unskilled , illiterate , aged or blind - as long as you can make it to the USA , you're are probably eligible for the Green Card !

Heck, it is easier to migrate to USA than to China or North Korea LOL....

Look at the Millions of unskilled Latinos that have become USA Citizens in the last 3 years .

The USA is such a SHIT country nowadays that even the Illegal Immigrants are leaving by the thousands.

http://www.reuters.com/article/idUSN2126758320071224

In the last few years , about 80,000 Illegal Migrants left the USA (Florida) to return to Central America

http://www.upi.com/Top_News/US/2010...mmigrants-leaving-Florida/UPI-76721265998145/


America USED to be a great country....... now it is just falling apart.

I love stupid posts like these "easier to migrate to than North Korea" etc. On this forum we are only interested in legal migration, not the countless illegals that walk across the border at Mexico or Canada. We are not interested in the containers of illegal asians risking thier lives to enter the USA every year. We dont care if the mexicans or central Americans are leaving due to the poor economy because they cant get jobs! Singaporeans would love to have FTs go home but no, instead the FTs gets the jobs Singaporeans are entitled to.

Its about time America clamps down on illegals. They are there getting free food, free housing, free schooling and free medical care at the expense of other Americans, so kudos to Arizona. I hope they kick them all out while the Americans can continue to enjoy dirt cheap products manufactured over the border. And thats why the American is consumer is still king. Discretionary spending is up and the economy is expanding once again.

As for legal immigration to the USA, why dont you tell us how easy it is? We would be fascinated to know how dead easy it is to get a H1B, spend the 5 years to get a greencard, then another 5 years qualifying for citzenship when other nations have a "dead easy" points system. Yes, its so easy!

As for the US "USED" to being a great country its not the year 2008, its 2010, the year of Europe "USED" to being great. In 2010 the US is back, is still #1, and the lessons learned will make America even greater than ever - but if you disagree, just inform every investment house in the world to cease seeking safety in US assets, our clients here just cant stand making $$$ in the rise of the US$, and kindly tell all the analysts the world over the US no longer leads the world in tech, and that the military has no power whatsoever. While you are at it, just go to the middle east and inform the fundamenalists the US has actually lost the war on terror and that the western media has it all wrong.

But most importantly, just call every US embassy in the world from Rome to Africa and the USCIS and tell them that the more than one million applications for US citizenship every year is just an anomoly, it does not exist, because according to you, the US "USED" to be great. Yes those millions must all be wrong!

People like you really make me laugh. Learn to keep current, its 2010 and not 2008.

 

[Aussie Prick]

The BIS has a paper on "The housing meltdown: Why did it happen in the United States?" It is written by Luci Ellis, now the head of financial stability at RBA.

It seems like the housing situation in USA will be down for the next few years at least (or even longer, but perhaps not as decade long as Japan).
One of the key reason is the tax deductable interest. (see sect 3.2)

But it is hard to say if she is right, she also claim that there is no Housing Bubble in Australia. hahaha

I will know when I sell my Perth houses. I have interested buyers already calling the builder.

It is hard to time the market to make some capital gains on US housing. Not with the kind of unemployment levels in the US currently. People tend to be mobile and rent when jobs are scarce.

So Lucy Ellis has just confirmed that Australians will never enjoy mortgage interest deductability on thier primary properties? And THAT'S the reason for the housing crisis? How come the 1098 deductable never caused an issue in the countless years since it was avaiable to taxpayers? Overbuilding, and loose credit has nothing to do with it? What about the London designed CDOs Wall St ended up making viral?

I think the RBA is just trying to make its case in the light of ever increasing interest rates. It would be better to openly declare conservatism in credit standards in this case.

 

[neddy]

I think the RBA is just trying to make its case in the light of ever increasing interest rates. It would be better to openly declare conservatism in credit standards in this case.

On the contrary, RBA Lucy was hinting on a pause to interest rate rises.

As for tax deductables, if you read carefully what she wrote, she has a valid point too.

Many developed countries, including the US have stopped fighting inflation. Now, inflation rate of 4% is acceptable and cash rate of .25% is inevitable.

You can write a paper to convince the world that low tax and low interest rates is the way to go, but as far as I understand, Alan Greenspan had practice this since 2001 and looked what a mess he created.


There has to be a balance somewhere, unfortunately, humans are irrational.
The microcosm of this can be seen in Madoff's investors and current Aussie homebuyers as well as people buying USD (despite US having a greater debt problem than fall guy Greece).

So far, low cash rate is a good weapon for USA to deal with a China, and it exposed how fragile the Chinese economy is, and also how immature the Chinese stockmarkets (gambling dens) are.

 

[axe168]

Not my house yet.

I am quite concerned about the China housing bubble. Remember, whatever rubbish the Americans or Asians claim about Out of Recession - The interest rates are artifically low.

Any rise in interest rates will kill off the dyfunctional growth quickly.

See how edgy the world is over Greece. Greece debt is lower than US and UK, yet it is been targetted by speculators who bet on Euro's doom, and winning.

Bro, your concern is not valid lah.. Whatever the turmoil happening outside/inside the country, they are only the short term FEAR.

Supply and Demand, dude.. To resolve the "Demand", the country has to increase the "supply".. alternatively, to resolve the supply, they have to stop the "demand".. You have to ask yourself, is this happening ?

The above is brought to you by axe168's Due Diligence Theory..

 

[Aussie Prick]

On the contrary, RBA Lucy was hinting on a pause to interest rate rises.

As for tax deductables, if you read carefully what she wrote, she has a valid point too.

Many developed countries, including the US have stopped fighting inflation. Now, inflation rate of 4% is acceptable and cash rate of .25% is inevitable.

You can write a paper to convince the world that low tax and low interest rates is the way to go, but as far as I understand, Alan Greenspan had practice this since 2001 and looked what a mess he created.


There has to be a balance somewhere, unfortunately, humans are irrational.
The microcosm of this can be seen in Madoff's investors and current Aussie homebuyers as well as people buying USD (despite US having a greater debt problem than fall guy Greece).

So far, low cash rate is a good weapon for USA to deal with a China, and it exposed how fragile the Chinese economy is, and also how immature the Chinese stockmarkets (gambling dens) are.

RBA Lucy might be talking up an agenda - when is the next election? We see a very low unemployment rate right now so expect some wage inflation coupled with housing prices to make any pause a very brief one. Two factors are helping, China and Europe 2010. But we see rates going up a 7th time some time later this year - unless Consumers stop spending and the job market flattens - which might very well happen in 2010

I am not necessarily for low taxes but I do like certain consumption taxes or other more efficient means of funding government. I abhorr income taxes. Inflation is only a worry in China and Australia at this time - but for your sake 4% would mean much higher interest rates. Your target band should be approx 2-2.5% per year.

What most people dont seem to understand is its not just the US that is broke. Japan is more broke than the US as is the UK. A case in point is 2008-2010 quantitative easing. Greece is a symptom of the problem, with its bailout of 100% of its GDP it will never be able tor repay its debt. We are now looking very closely at Spain, Portugal, France, Italy, and Ireland. Virtually all of Europe is insolvent - except some of the Scandinavian countries.

The world economy is teetering once again. We need another Bill Clinton in the White House to raise taxes, pay China back, and for the American consumer to once again save the world. Obama does not look like the fiscal superman we were hopiing for. And looking at how ridiculous bipartisan politics in the US are - BOTH SIDES want to lower taxes - when 50% of all Americans are paying 0 tax! Can the US raise revenues and become fiscally balanced? Yes it can, but we can all thank the Bush years for spoiling Americans with free spending, loose credit, and low taxes. Politically its suicide to impose the corrective measures but it CAN be done in the US. Its not too late for the US. In Europe, its just too late. Thier taxes are already too high and how much can Germany do?

We thank China for the past year but it looks like a house of cards about to topple............................

 

[chewed]

Are you kidding ? The USA is the EASIEST COUNTRY in the world to emigrate to , legally or not . If you're unskilled , illiterate , aged or blind - as long as you can make it to the USA , you're are probably eligible for the Green Card !

Heck, it is easier to migrate to USA than to China or North Korea LOL....

Look at the Millions of unskilled Latinos that have become USA Citizens in the last 3 years .

The USA is such a SHIT country nowadays that even the Illegal Immigrants are leaving by the thousands.

http://www.reuters.com/article/idUSN2126758320071224

In the last few years , about 80,000 Illegal Migrants left the USA (Florida) to return to Central America

http://www.upi.com/Top_News/US/2010...mmigrants-leaving-Florida/UPI-76721265998145/


America USED to be a great country....... now it is just falling apart.

i think this says it all....

 

[AhSo1]

Now come on, America is perhaps the most difficult country to emigrate to (legally) while Canada, NZ, etc is dead easy.

Singapore is contuning to loose its better educated and wealthy to the US every year, as does the UK, NZ, and yes even, Australia.

why no one cares the US is getting Singapore's best is something that no one seems to want to talk about..........

This is common sense,what. These nations are in dire need of immigrants while the United States has no such quandry.

Singapore's answer to losing its best and brightest has been to import them and treat them better than thier own citizens.

 

[Satan]

Singapore's answer to losing its best and brightest has been to import them and treat them better than thier own citizens.

But don't you think that it'd be better for Singapore to treat its own citizens better so that less people will want to migrate?

 

[Satan]

Are you kidding ? The USA is the EASIEST COUNTRY in the world to emigrate to , legally or not . If you're unskilled , illiterate , aged or blind - as long as you can make it to the USA , you're are probably eligible for the Green Card !

Heck, it is easier to migrate to USA than to China or North Korea LOL....

Look at the Millions of unskilled Latinos that have become USA Citizens in the last 3 years .

The USA is such a SHIT country nowadays that even the Illegal Immigrants are leaving by the thousands.

http://www.reuters.com/article/idUSN2126758320071224

In the last few years , about 80,000 Illegal Migrants left the USA (Florida) to return to Central America

http://www.upi.com/Top_News/US/2010...mmigrants-leaving-Florida/UPI-76721265998145/


America USED to be a great country....... now it is just falling apart.

Its true. When I was in Cali, I met a computer programmer who had come as an illegal immigrant from Mexico. They had a funny ruling back then where a person who'd stayed for sometime in the country will be eligible for a green card. He had stayed there for about 10 years undercover and they finally gave him a green card.

 

[Aussie Prick]

Its true. When I was in Cali, I met a computer programmer who had come as an illegal immigrant from Mexico. They had a funny ruling back then where a person who'd stayed for sometime in the country will be eligible for a green card. He had stayed there for about 10 years undercover and they finally gave him a green card.

that's nothing. when a haiti or cuban boat is able to land on US soil in florida, they are allowed to stay. The US is in dire need of immigration reform, all other nations would just kick them out.

 

[Satan]

that's nothing. when a haiti or cuban boat is able to land on US soil in florida, they are allowed to stay. The US is in dire need of immigration reform, all other nations would just kick them out.

Well, they could certainly do a better job of controlling the Mexican illegals. But alas, what's wrong with people looking for better pastures?

 

[johnsgp1]

But don't you think that it'd be better for Singapore to treat its own citizens better so that less people will want to migrate?

can u ask why Americans want to migrate to Singapore, why british want to migrate to Australia? Or why australian want to imgrate to UK?
or do u also mean their govt is not treating them better?