Singaporeans now prefer New Zealand over Australia

[Ash007]

For those investing heavily in Oz properties, better invest with care. a bubble will come sooner or later.

Some say the bubble is already here. I believe median house price is close to $600K now. Then again, they have been saying the housing bubble has been around for the last 10 years at least. Only time will tell I suppose.

 

[ManBearPig62]

I believe sooner or later we will reach a point where housing becomes so unaffordable that prices cannot be sustained by income levels. If that's your definition of a bubble, then I agree with you.

However, I don't think we will be reaching that point so quickly. In my opinion we have another decade or so to go.

I also believe that a good way to safeguard oneself is to limit borrowings to an acceptable level; keep your gearing levels in check. One thing's for sure: the ang mohs really like to borrow heavily here; they are real risk takers.

My two cents.

 

[masgnoeL]

NZ, here I come!

 

[eatshitndie]

Relative in your view perhaps.

Not in the view of a 90 years-old woman who has to fly 17 hours from Singapore to North America.

The journey home is yet another 17 hours and that is what long distance really is.

a reason why moving as far away as possible from sg is a good idea. distance weeds out the old, weak, bullied and less intellectually-imbued.

 

[Ash007]

I believe sooner or later we will reach a point where housing becomes so unaffordable that prices cannot be sustained by income levels. If that's your definition of a bubble, then I agree with you.

However, I don't think we will be reaching that point so quickly. In my opinion we have another decade or so to go.

I also believe that a good way to safeguard oneself is to limit borrowings to an acceptable level; keep your gearing levels in check. One thing's for sure: the ang mohs really like to borrow heavily here; they are real risk takers.

My two cents.

Mate I hope you are right, I have no frigging idea how the banks here can loan you so much! They even dare to say your repayment of more then 50% of your take home pay is low! The problem is, banks here seems willing to lend you as much as possible and expects you to live with only $500 monthly as expenses. With housing price on the rise, you have everyone fearing they would be priced out of a house and thats where you have all these people borrowing more and more each time.

 

[neddy]

Mate I hope you are right, I have no frigging idea how the banks here can loan you so much! They even dare to say your repayment of more then 50% of your take home pay is low! The problem is, banks here seems willing to lend you as much as possible and expects you to live with only $500 monthly as expenses. With housing price on the rise, you have everyone fearing they would be priced out of a house and thats where you have all these people borrowing more and more each time.

Banks will lend up to 80% provided you show that you have a stable job and have a record of saving money. i.e you are a prime customer.

The buck stops with you whether you want to "work for the bank" or you want to have spare money.

There will be time when you say "The price raise is enough. I am getting out of house hunting" and chances are a lot of people will be thinking the same.

Your money in the house is funded by your income.
Those Chinamen competing with you are getting theirs from the China banks - and all of them Cheena banks need to be bailed out by the Chinese central govt soon for bad loans.

 

[axe168]

Mate I hope you are right, I have no frigging idea how the banks here can loan you so much! They even dare to say your repayment of more then 50% of your take home pay is low! The problem is, banks here seems willing to lend you as much as possible and expects you to live with only $500 monthly as expenses. With housing price on the rise, you have everyone fearing they would be priced out of a house and thats where you have all these people borrowing more and more each time.

Are you kidding me? I m living at -$500/mth (mind you, it is negative !!! ).. everyday is so bloody miserable to me:( my neighbours/school parents drive X5, RX350, kompressor etc.. I'm juz an ordinary Camry guy.. knn..

 

[Ash007]

Are you kidding me? I m living at -$500/mth (mind you, it is negative !!! ).. everyday is so bloody miserable to me:( my neighbours/school parents drive X5, RX350, kompressor etc.. I'm juz an ordinary Camry guy.. knn..

??? AH? don't understand wor? You negatived geared till -$500/month? Grocery? food? use what to pay ? Teach leh I also want to learn.

 

[chewed]

Banks will lend up to 80% provided you show that you have a stable job and have a record of saving money. i.e you are a prime customer.

The buck stops with you whether you want to "work for the bank" or you want to have spare money.

There will be time when you say "The price raise is enough. I am getting out of house hunting" and chances are a lot of people will be thinking the same.

Your money in the house is funded by your income.
Those Chinamen competing with you are getting theirs from the China banks - and all of them Cheena banks need to be bailed out by the Chinese central govt soon for bad loans.

when that time comes, these PRC will be selling their house. Time to go in.

 

[Soul_Reaper]

An ex-teacher of mine is thinking of going over to Auckland permanently. He is in his mid 60s and retired and does some volunteer teaching work at an orphanage to pass time.

Is he eligible for NZ PR ?

 

[jake]

An ex-teacher of mine is thinking of going over to Auckland permanently. He is in his mid 60s and retired and does some volunteer teaching work at an orphanage to pass time.

Is he eligible for NZ PR ?

If he has lots of money, say a million dollars, there is nothing to stop him from going over. Money do lots of things.

 

[axe168]

??? AH? don't understand wor? You negatived geared till -$500/month? Grocery? food? use what to pay ? Teach leh I also want to learn.

Aiyo.. this is a trade secret lah.. keke.. I am borrowing ppl's money for growth.. If economy heads south, I'll be a bankrupt If it heads North, then I get a decent return. Pls dont try this at home, it is highly dangerous.. No money guarantee..

I hate to say this.. No ppl will 'save' enough to be rich.. however, they can be highly geared for a good growth :p Bankers will serve you with pleasure when (a) you have a million dollar cash or (b) you owe them a million dollar.

You gotto have the gutz to hang your balls outside.. wearing a protective gear will not help.

 

[Satan]

I agree, the cost of living in Sydney is already quite close to london but the wages in general are lower. Travel interstate or outside the country is also very expensive. China boom has made Australians wealthy but is this substainable ? Only time will tell.

Australia is no longer that attractive to Sporeans with the high exchange rate and the escalating property prices. U are better off to NZ or Canada.

For those investing heavily in Oz properties, better invest with care. a bubble will come sooner or later.

Agree. Oz is too expensive these days with high property prices, escalaing interest rates and sky high taxes. One is better off going to Canada or NZ or, better still if you are in your 20s and qualify for a H1B visa in the US and eventually a green card.

 

[neddy]

Agree. Oz is too expensive these days with high property prices, escalaing interest rates and sky high taxes. One is better off going to Canada or NZ or, better still if you are in your 20s and qualify for a H1B visa in the US and eventually a green card.

High Taxes? My income has gone up but not my taxes.
Anyway, I will only know later this year, how much tax I need to pay for my 2007/8 financial year.

Will NZ head for higher property prices & higher interest rates?

 

[neddy]

Aiyo.. this is a trade secret lah.. keke.. I am borrowing ppl's money for growth.. If economy heads south, I'll be a bankrupt If it heads North, then I get a decent return. Pls dont try this at home, it is highly dangerous.. No money guarantee..

I hate to say this.. No ppl will 'save' enough to be rich.. however, they can be highly geared for a good growth :p Bankers will serve you with pleasure when (a) you have a million dollar cash or (b) you owe them a million dollar.

You gotto have the gutz to hang your balls outside.. wearing a protective gear will not help.

you need hedging. Why not insure yourself with a put option?

 

[axe168]

you need hedging. Why not insure yourself with a put option?

No thanks... I am living on a negative gearing now.. of course, ATO will be subsidizing our losses.. Great right ?

 

[Ash007]

Agree. Oz is too expensive these days with high property prices, escalaing interest rates and sky high taxes. One is better off going to Canada or NZ or, better still if you are in your 20s and qualify for a H1B visa in the US and eventually a green card.

Good, the higher the interest rate the more my money grows. A couple of my friends back home are converting all their cash into AUD. They just can't stand the interest the banks are giving them or even from Ho Ching and company. Every time you see the RBA raised the interest rate the AUD jumped up a bit. Its stabilised at $0.91 USD now, next month with another hike it'll be $0.93-0.95. By years end it would reach parity. There are ways to earn money no matter the economic circumstances. Just look at our resident monopoly player, Neddy and Axe168. Right guys?

 

[neddy]

Good, the higher the interest rate the more my money grows. A couple of my friends back home are converting all their cash into AUD. They just can't stand the interest the banks are giving them or even from Ho Ching and company. Every time you see the RBA raised the interest rate the AUD jumped up a bit. Its stabilised at $0.91 USD now, next month with another hike it'll be $0.93-0.95. By years end it would reach parity. There are ways to earn money no matter the economic circumstances. Just look at our resident monopoly player, Neddy and Axe168. Right guys?

I don't play monopoly. I just want a comfortable retirement.
I will take notice when US Fed raise rates. Meanwhile, everything is moving nicely.