''Australian oz housing market holds sub-prime danger''
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Originally posted by will4:
I agreed on your part that foreign professional contribute to this country but at the end of the day, if they go back to their countries of birth, then the countries of birt willbe the main beneficiaries. Just imagine if a PR decided to go back, the amount of money remiited back to their countries, ten years back during the 1997 Asian Financial crisis, if not wrong, the Malaysian govt was angry with the Spore govt for not releasing the CPF of Malaysian employees. Somehow it is quite surprising to see locals deciding to put their aged parents in neighbouring Malaysia.
Foreign professional can bring back money to their own countries for his own family usage, but not the mass, what they contributed in other countries is much much worthy if they had contributed to their own country. Due to their own countries lack of good infrastructure, govt, system etc etc, the adopted countries they work in gain from them is much more than what they bring home. And because of their money instability, most of them still prefer to keep their money in foreign banks rather than converting in their own country currency and banks.Please remember that CPF is not a saving bank, it is a provident funds that both employers and employees contributed, and the employers are bound to contribute due to the law of Singapore requirement, so if the malaysians are really to withdraw back their CPF, they can take their 20% contribution and not the employers contribution. Most Malaysians working here are Malaysian Chinese and Indians, personally, they also dun wan the money to be transfer into malaysia, at that moment, the ringgits is falling like hell whereas the sing dollars was still stable and strong, and the malaysia govt needed these funds to help themselves rather than the peoples who worked here.
Anyway, CPF is a personal beholden, if a Malaysian wish to withdraw all his/her CPF, no problem, but of course, he/she will not be allow to work in Singapore in a permanent basis.
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this bloody lionoisy is just a piece of sh7t. The most liveable city in the world, Melbourne is found in OZ.
Ask him to go figure out why Melbourne is ranked the most liveable city in the world.
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Melbourne 'world's top city'
Melbourne has retained its position as the best city in the world to call home.
Often derided as Bleak City by Sydneysiders, Melbourne topped a survey of 130 cities, narrowly beating out the other four Australian capitals surveyed - because its weather rated the best.
Sydney lost ground because its crime rate was rated on a par with New York and London.
1= Melbourne
1= Vancouver
1= Vienna
4 Perth
5 Geneva
6= Adelaide
6= Brisbane
6= Copenhagen
6= Montreal
6= Oslo
6= Sydney
6= Zurich
13= Helsinki
13= Stockholm
13= Toronto
Others:
19= Auckland
19= Honolulu
28= Paris
45= London
51= Dublin
51= New York
57= Washington
64= Athens
75= Beijing
130 Port Moresby
The Economist Intelligence Unit (EIU) survey ranked Melbourne, Vancouver and Vienna as the best cities for expatriates to live, with Perth fourth and Adelaide, Brisbane and Sydney equal sixth.
Geneva was ranked fifth, while Papua New Guinea's capital Port Moresby kept the title it took in the last survey in October 2002 as the worst.
"Melbourne pretty much top scored in everything," said survey co-editor Jon Copestake.
"But the difference between all the Australian cities is minimal. One thing Sydney had different to the other cities was a higher crime rate, and its climate. Its level of humidity was worse than Melbourne's."
Victorian Tourism Minister John Pandazopoulos said the award was based on a survey of a city's infrastructure, access, education levels, crime rate, focus on the environment, culture and events, its diversity and how connected it was with the rest of the world.
Mr Pandazopoulos said even Melbourne's weather rated better than Sydney's.
"It's a brilliant pat on the back for Melbourne, particularly for two years in a row," he said.
"We already promote ourselves as the world's most liveable city, we can continue doing that."
Mr Pandazopoulos said the award backed Victoria's record as the only Australian state in which international visitor rates grew for the past two years.
He said Melbourne was also a very affordable city, where people got value for money for great products, including top fashion and restaurants.
He said the government would continue to work hard to meet the balance of stimulating a vibrant economy and social standards to ensure Melbourne remained one of the world's best cities.
The London-based EIU assessed the level of hardship for expatriates in the 130 cities, using 12 factors including housing, education, recreational activities, health, climate and terrorism.
Cities were rated one to five in the 12 categories, with one meaning there was no hardship and five indicating extreme hardship.
Melbourne received the perfect one in each category, including its unpredictable weather, to give it an overall score of one.
The other Australian cities were all given a two for climate, while Adelaide also received two for housing, Brisbane and Perth scored two for transport and Sydney for its crime. Port Moresby received five for crime and an overall score of 80.
While Perth was given an overall mark of 1.1, Adelaide, Brisbane and Sydney scored 1.2.
The heightened terrorist threat only had a minimal impact on western cities, even those in the United States, largely because of newly developed security measures.
The highest ranked US city was Honolulu in 19th on eight points, while New York was 51st with 16 and Washington was the lowest of 16 American cities in the survey at 57th, mainly due to a higher risk of terrorism giving it an overall score of 19.
London was equal 45th, along with Los Angeles, Madrid and San Francisco.
Kuwait fell the most places, dropping from 87 to 97 because of the war in neighbouring Iraq, while Harare suffered the greatest actual drop in living standards as a result of ongoing unrest and slid eight places to 118.
The Iraqi capital Baghdad was not included in the survey. -
Originally posted by Worldlybusinessman:
Melbourne 'world's top city'
Melbourne has retained its position as the best city in the world to call home.
Often derided as Bleak City by Sydneysiders, Melbourne topped a survey of 130 cities, narrowly beating out the other four Australian capitals surveyed - because its weather rated the best.
Sydney lost ground because its crime rate was rated on a par with New York and London.
1= Melbourne
1= Vancouver
1= Vienna
4 Perth
5 Geneva
6= Adelaide
6= Brisbane
6= Copenhagen
6= Montreal
6= Oslo
6= Sydney
6= Zurich
13= Helsinki
13= Stockholm
13= Toronto
Others:
19= Auckland
19= Honolulu
28= Paris
45= London
51= Dublin
51= New York
57= Washington
64= Athens
75= Beijing
130 Port Moresby
The Economist Intelligence Unit (EIU) survey ranked Melbourne, Vancouver and Vienna as the best cities for expatriates to live, with Perth fourth and Adelaide, Brisbane and Sydney equal sixth.
Geneva was ranked fifth, while Papua New Guinea's capital Port Moresby kept the title it took in the last survey in October 2002 as the worst.
"Melbourne pretty much top scored in everything," said survey co-editor Jon Copestake.
"But the difference between all the Australian cities is minimal. One thing Sydney had different to the other cities was a higher crime rate, and its climate. Its level of humidity was worse than Melbourne's."
Victorian Tourism Minister John Pandazopoulos said the award was based on a survey of a city's infrastructure, access, education levels, crime rate, focus on the environment, culture and events, its diversity and how connected it was with the rest of the world.
Mr Pandazopoulos said even Melbourne's weather rated better than Sydney's.
"It's a brilliant pat on the back for Melbourne, particularly for two years in a row," he said.
"We already promote ourselves as the world's most liveable city, we can continue doing that."
Mr Pandazopoulos said the award backed Victoria's record as the only Australian state in which international visitor rates grew for the past two years.
He said Melbourne was also a very affordable city, where people got value for money for great products, including top fashion and restaurants.
He said the government would continue to work hard to meet the balance of stimulating a vibrant economy and social standards to ensure Melbourne remained one of the world's best cities.
The London-based EIU assessed the level of hardship for expatriates in the 130 cities, using 12 factors including housing, education, recreational activities, health, climate and terrorism.
Cities were rated one to five in the 12 categories, with one meaning there was no hardship and five indicating extreme hardship.
Melbourne received the perfect one in each category, including its unpredictable weather, to give it an overall score of one.
The other Australian cities were all given a two for climate, while Adelaide also received two for housing, Brisbane and Perth scored two for transport and Sydney for its crime. Port Moresby received five for crime and an overall score of 80.
While Perth was given an overall mark of 1.1, Adelaide, Brisbane and Sydney scored 1.2.
The heightened terrorist threat only had a minimal impact on western cities, even those in the United States, largely because of newly developed security measures.
The highest ranked US city was Honolulu in 19th on eight points, while New York was 51st with 16 and Washington was the lowest of 16 American cities in the survey at 57th, mainly due to a higher risk of terrorism giving it an overall score of 19.
London was equal 45th, along with Los Angeles, Madrid and San Francisco.
Kuwait fell the most places, dropping from 87 to 97 because of the war in neighbouring Iraq, while Harare suffered the greatest actual drop in living standards as a result of ongoing unrest and slid eight places to 118.
The Iraqi capital Baghdad was not included in the survey.well done.I like pple done their home work.
BTW,has the crimes rate are part of the survey u mention?
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u keep track the followings then u know wat are the meaning of
livable.Shooting almost every day in a city 4 to 7 million
is a way of life in oz.
u cal it livable??
http://www.police.nsw.gov.au/news
www.police.vic.gov.au/
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Originally posted by lionnoisy:
u keep track the followings then u know wat are the meaning of
livable.Shooting almost every day in a city 4 to 7 million
is a way of life in oz.
u cal it livable??
http://www.police.nsw.gov.au/news
www.police.vic.gov.au/
I am living in melbourne fro years and i have never seen a shooting. Dont take the average statistics and shove it in our faces.
Fark yr mum and sis lionoisy
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PM Rudd and his officials is able convince oz people that oz can weather the crisis.
Thats oz is the best country in the world in this tsunmai.
But wat is the reality?
Federal gavaman needs to borrow $$ to survive,$50 b in a year.States need Commwealth gavaman to gurantee their loans.
Thats why i dunt know wat to write when i read
"What's happened recently, even within the past couple of days, is buyers are more confident they will have a job and can afford things."
http://www.news.com.au/adelaidenow/story/0,22606,25260510-2682,00.html
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Australia Job Ads Plunge by Record as Firms Retrench - Australia ...
''NAB's monthly survey of over 400 firms found employment intentions fell by the most in the history of the series in February, with that index down 10 points to -27.
NAB's measure of business conditions dropped 9 points to -20, a level not seen since 1992. Sales and profits both slid, while forward orders dropped 7 points to -27.
National Australia Bank (NAB).''
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Originally posted by Worldlybusinessman:
I am living in melbourne fro years and i have never seen a shooting. Dont take the average statistics and shove it in our faces.
Fark yr mum and sis lionoisy
congra.congra.
can u refine your language.
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Oz Federal gavaman print IOU to survive.If the economy get worse,
she need more $$ to support people.How can gavamna get the money
and wat does she has to gurantee states loans?
http://www.economicstimulusplan.gov.au/theplan.htm
[Chart 4: Government finances amongst the strongest in the world]
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just in case u dunt know the chart.
this is the budget deficit in term of GDP.
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been looking for a unit in WA for sometime. The hse prices in WA is dropping but not as drastically. from what i follow up, the property prices in WA alone has gone up 2-3x in the past 6-8yrs. The current blip of 10% is nothing.
The supply of houses is still lagging behind demand.
personally i dont think australia will have subprime problems.
personal income in australia is generally higher, aust has so far weather the crisis pretty good compare to Singapojust re, Japan, USA, EU.
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Originally posted by angel7030:
Foreign professional can bring back money to their own countries for his own family usage, but not the mass, what they contributed in other countries is much much worthy if they had contributed to their own country. Due to their own countries lack of good infrastructure, govt, system etc etc, the adopted countries they work in gain from them is much more than what they bring home. And because of their money instability, most of them still prefer to keep their money in foreign banks rather than converting in their own country currency and banks.Please remember that CPF is not a saving bank, it is a provident funds that both employers and employees contributed, and the employers are bound to contribute due to the law of Singapore requirement, so if the malaysians are really to withdraw back their CPF, they can take their 20% contribution and not the employers contribution. Most Malaysians working here are Malaysian Chinese and Indians, personally, they also dun wan the money to be transfer into malaysia, at that moment, the ringgits is falling like hell whereas the sing dollars was still stable and strong, and the malaysia govt needed these funds to help themselves rather than the peoples who worked here.
Anyway, CPF is a personal beholden, if a Malaysian wish to withdraw all his/her CPF, no problem, but of course, he/she will not be allow to work in Singapore in a permanent basis.
I think the Malaysian EPF provide better rate of return like 5%. I have an uneasy feeling that the PR who refused to changed to local citizenship may have the
following reason, Spore is becoming overcrowded, many Sporean going to Malaysia to buy landed properties and it is increasingly becoming more difficult to withdraw CPF as u grew older.
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Originally posted by reyes:
been looking for a unit in WA for sometime. The hse prices in WA is dropping but not as drastically. from what i follow up, the property prices in WA alone has gone up 2-3x in the past 6-8yrs. The current blip of 10% is nothing.
The supply of houses is still lagging behind demand.
personally i dont think australia will have subprime problems.
personal income in australia is generally higher, aust has so far weather the crisis pretty good compare to Singapojust re, Japan, USA, EU.
u just reflect wat PM Rudd and his officials said in the past 1 year that
Oz is mush better than other developed countries in this crisis.
However,i have shared in this forum that jobs adverts dropped a lot
in oz.So,i cant find the true reasons that oz house sales was so good
in the past few months,Is it a short term from Stimulus package
or oz is really so strong.
2.Then,pl tell me why Holden cut the output and salary of this plant by
HALF,until Christmas!!The best xmas present will be --JOBS!!
South Australia
Afternoon shift to be cut
HOLDEN yesterday told the last wave of its 3150 disillusioned Elizabeth workers it will cut its production by half and cull the afternoon shift....
Holden is responding to an 80 per cent drop in export sales as well as declining local large car sales, but the company was aiming to retain its workforce as it prepared for the introduction of a second production line at Elizabeth to build a four-cylinder powered small car...
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Originally posted by will4:
I think the Malaysian EPF provide better rate of return like 5%. I have an uneasy feeling that the PR who refused to changed to local citizenship may have the
following reason, Spore is becoming overcrowded, many Sporean going to Malaysia to buy landed properties and it is increasingly becoming more difficult to withdraw CPF as u grew older.
of course people will refused lah, who wants to be a citizen here, if they changed to local citizen, they had to give up their citizenship of their parent countries. So better stick to PR. No doubt EPF provide a better rate of 5%, cos this is due to ringgit being lower in value. And let me tell u the truth, most of the companies in malaysia dun even need to give EPF, they will tell the workers that they provide them higher paid, and most of them accepted, their system is not as clearly define as ours, allowing turning and twisting all the time.Why should i buy landed property in malaysia, why no singapore, more valuable and price will surge in no time whereas malaysia housing is alway on the depreciation due to plenty of land. I better think of thailand or Oz, then taking up a residency in Malaysia
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can i remind u again that it was not uncommon for oz banks granted over
90% loan in oz.High loan to value ratio is one of the factors
leading to financial crisis.The so called sub prime crisis is just a cover up.
The sup prime loan does not represent more than 15% of loan in
total loan amount!!Now,u media dunt talk abt sub--prime which
is not the main contributing factor in today crisis.
http://www.news.com.au/business/money/story/0,28323,25288384-14327,00.html
Banks slashing maximum loan ratios
The Sunday Telegraph
April 05, 2009 12:00am
''MORTGAGE lenders are slashing loan ratios in a bid to protect themselves against falling house prices.In the past fortnight, Commonwealth Bank, Bankwest, ING, Challenger, Citibank and Suncorp have all cut their maximum loans from 95 per cent to 90 per cent of the property value - and may cut further. ANZ cut its maximum loan to 90 per cent last November.
The move is designed to ensure the bank can recover the loan value, if the house has to be sold in the event of a loan default.
"There is a lot of talk about where house prices are headed and the possibility of price falls," Peter Hayward, of Citibank Mortgages, said.
"By reducing the maximum loan to 90 per cent, we are giving ourselves, and our borrowers, more of a buffer to ensure that if prices do fall, there is less risk of going into negative equity."
Challenger likened the move to when stockbrokers increased loan/valuation ratios on margin loans, when share prices fell.
"What you are seeing is a staged pullback by lenders from the market, to reduce risk," Challenger's Stuart Barton said...................''
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wat if SG 50,000 tenants face enviction?Go to Orchard RD to protest,
vote for Oppositions,.....
Rental crisis: 200,000 will face eviction
,
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- ''200,000 tenants face eviction next year
- Landlords strict on unpaid rent
- Owners need cash to pay mortgage
AUSTRALIA is facing a homeless crisis with more than 200,000 tenants in rented accommodation forecast to face eviction by next year - 80,000 in NSW alone.
Research conducted for The Sunday Telegraph by Fujitsu Consulting
FUJITSU Australia shows that as many as 183,000 rental households across Australia could be in arrears by December, assuming unemployment rises to 7.5 per cent, with 68,000 in NSW.
But if unemployment rises to nine per cent next year, as many economists predict, the number of tenants facing eviction rises to 216,000 nationally, and 79,000 in NSW..........................''
FUJITSU Australia
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Buyers back in shacks as flats fail to sell
Many of the unsold units are at beachside holiday destinations and have fallen into the hands of the banks, The Australian reports.
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oz has been looked rosey in this crisis,but there are some commonality
like other countries.
Beach units in receivershipThe Australian, 29 Jan 2009
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Not all jobless will benefit
4:13pm | Government mortgage deal with major banks leaves out smaller lenders, which make up 20% of market. -
Originally posted by lionnoisy:
yes Sire!!
There is big differences between Singapore CPF public housing grant
and oz first time grant.The former is a long time policy,while the latter
is just to boost short term GDP rate for a nice report card!!
Good time or bad time,SG is still afford to give CPF grant to buy HDB.
This is risky for buyers,banks and whole country if any buyer cannot
come out with 20 % down.This show they lack of ability,willingness
and discipline to set aside a lump sum for housing EVERY MONTH for
20 years.
Hello? Do you know what you're posting?
you're making a assumption here. So you know that 15 years ago when SG introduced the grand it is not a temp GDP boost measure? And that Aust first time
grant is a GDP boost measure? How smart are you huh?
what is the ration of HDB (15 years ago) vs avg salary (15 years ago)
ration of HDB (current) vs avg salary (current)
Now tell me who is in deeper shit? we or aust?
you know what is thick-headed, narrow minded and self-deception?
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Originally posted by lionnoisy:
u just reflect wat PM Rudd and his officials said in the past 1 year that
Oz is mush better than other developed countries in this crisis.
However,i have shared in this forum that jobs adverts dropped a lot
in oz.So,i cant find the true reasons that oz house sales was so good
in the past few months,Is it a short term from Stimulus package
or oz is really so strong.
2.Then,pl tell me why Holden cut the output and salary of this plant by
HALF,until Christmas!!The best xmas present will be --JOBS!!
South Australia
Afternoon shift to be cut
HOLDEN yesterday told the last wave of its 3150 disillusioned Elizabeth workers it will cut its production by half and cull the afternoon shift....
Holden is responding to an 80 per cent drop in export sales as well as declining local large car sales, but the company was aiming to retain its workforce as it prepared for the introduction of a second production line at Elizabeth to build a four-cylinder powered small car...
And back at home, most of the factories worker now work only 4 days per week?
some office worker also working 4 days a week. So what are you trying to prove here?
Do you really know the shape that singapore is in now?
I strongly believe that you're bias against aust for whatever reason/s that i know not of.
But if it is really as what you've described, why so many of us still going there?
Is the majorities who went over stupid? Or are you the smart ass here?
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Originally posted by lionnoisy:
well done.I like pple done their home work.
BTW,has the crimes rate are part of the survey u mention?
It has been pointed out that the most livable city is in OZ by EIU. btw if you're scoping in on crime, it'll probably be safest to live alone by yourself in the mountains. -
Originally posted by angel7030:
Most are Malay aunties lah, no us lor. Be proud of your Singapore gals ya. Smart, sexy and flamboyant like me!!!Singapore gal, you are a great way to fly...
yaya... fly to the moon and stay there. don't come back ya?