What's your prediction on the Australian Dollar?

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First time I've seen it drop below 0.50 in recent years against the GBP.
Interbank Spot: Bid: 0.4995 Ask: 0.4999
 
Flashback lucky it is only money.That new rate is an ouch compared with the Euro.
On Mrscove's birthday she tore her knee so getting it checked before we flew home from London 36 hours later cost about £550 to have a doctor come and then a visit to an orthopedic specialist. Getting a clearance to fly was what we needed for her rather than worry about what something costs.
 
Certainly not great new with me heading to the UK and euro for 2 months in a months time...

Also update on loans, Suncorp are currently offering 4.15% on both variable and fixed for 3 years, all annual fees waived for the life of the loan. A good option if u want to stick away from the smaller/online banks
 
mooingchicken said:
Certainly not great new with me heading to the UK and euro for 2 months in a months time...

Also update on loans, Suncorp are currently offering 4.15% on both variable and fixed for 3 years, all annual fees waived for the life of the loan. A good option if u want to stick away from the smaller/online banks
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Back in my day(2000) it was 2.45 and blew out to +3 after September 11. 2:1 is still pretty good! Sending pounds back at 3:1 was outstanding.
 
cove said:
Flashback lucky it is only money.That new rate is an ouch compared with the Euro.
On Mrscove's birthday she tore her knee so getting it checked before we flew home from London 36 hours later cost about £550 to have a doctor come and then a visit to an orthopedic specialist. Getting a clearance to fly was what we needed for her rather than worry about what something costs.
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Hope mrscove is doing better now. I'm landing on the sunny shores of PER next week (albeit for 56 hours), so my trip keeps getting cheaper as the day goes by and my spending power increases.
 
Flashback you will be able to reload the pantry with goodies from Australia that English stores do not carry. I was surprised when a packet of Twisties popped open on our last flights to London. Those goodies will be less expensive for you now.
I keep thinking about making pounds but all I have come up with is rebate sites in the UK. Hotel Chocolat is a favourite.
There isn't much call for 65 year old sprinkler peddlers in London so that would be a NO.
One pound making $2.01 looks great for your trip to see the family.
 
Re previous discussion on negative gearing... the Greens have released treasury modelling... removal of negative gearing would save $3billion over the next four years, and supposedly increase housing affordability. Story with embedded modelling from ABC news here (for those of you who haven't set their browsers to 'block' the ABC :p): Abolishing negative gearing could save $3 billion in four years, improve housing affordability, Greens say - ABC News (Australian Broadcasting Corporation)

Senator Ludlam:

"I don't think it's fair that low and middle income taxpayers should be subsidising property investors and that's really at the heart of why we're making this proposal," he said.
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Why am I paying for someone's rental property in Toorak??
 
If negative gearing gets cut there will be consequences but those are hard to predict.
First the NSW and Victorian stamp duty collections could drop dramatically. Those two States are feasting on a temporary market bull run that may go into a savage reverse. A burst bubble is possible and that could wipe out lots of market confidence. Knocking market confidence has always been a risky thing.
 
cove said:
If negative gearing gets cut there will be consequences but those are hard to predict.
First the NSW and Victorian stamp duty collections could drop dramatically. Those two States are feasting on a temporary market bull run that may go into a savage reverse. A burst bubble is possible and that could wipe out lots of market confidence. Knocking market confidence has always been a risky thing.
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All those things could happen... or... on the flip-side... first time home buyers could actually start to buy the houses they want, get their mortgages underway, and then start spending money in the shops that they have currently been saving (rather than spending) just to get the deposit together.

Thousands of new people with lots more money to spend. And confidence they'll be able to buy. Sounds equally good?
 
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For Sydney and Melbourne homes the first home buyers could get back into the market if the prices for houses halved. There just are not enough first home buyers who can borrow around a million dollars unless the parents are helping out.
 
Negative gearing is a bit of a red herring - house prices are more affected by lack of land release and inane green tape (e.g. Mandatory 6 star ratings etc and all the other infrastructure charges).

German and Texan house prices are far cheaper because they don't restrict land supply like we do in Australia
 
Yes there are lots of red and green tape on land supply. Cedar Woods and Folkestone are my investments that are working on land subdivisions in outer Melbourne. It tends to take a lot of time to get blocks approved for sale. We have 3 million square miles and ridiculous house and land prices in our capital cities.
 
cove said:
Yes there are lots of red and green tape on land supply. Cedar Woods and Folkestone are my investments that are working on land subdivisions in outer Melbourne. It tends to take a lot of time to get blocks approved for sale. We have 3 million square miles and ridiculous house and land prices in our capital cities.
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Yep lets make suburbs in the middle of nowhere (in same cases on prime agricultural land) with minimally infrastructure so developers can get rich quick.
 
Suggest you read more about CWP as their annual report is very good as is their track record whatmeworry. I think they are doing a very good job(cedar Woods) and win awards for their projects.
The Aussie dollar is looking weak.
 
cove said:
If negative gearing gets cut there will be consequences but those are hard to predict.
First the NSW and Victorian stamp duty collections could drop dramatically. Those two States are feasting on a temporary market bull run that may go into a savage reverse. A burst bubble is possible and that could wipe out lots of market confidence. Knocking market confidence has always been a risky thing.
Click to expand...
Stop foreign ownership first.

I cannot believe apartment buildings are built in Australia and Australian citizens/residents cannot buy any of those apartments.
 

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