[4826monongahela]

Real Estate – thx for the link. Am checking it now.

PatientRenter – < patience & logic >. Thx for the reminder. I need to hear these things. Often!

Josh/Barnaby – I have followed many topics on this blog site & respect your opinion. But a couple of points you raise, not sure I concur. We’ve been here just over 2 yrs. The Sydney area is very locale specific e.g. you mention Mosman being crazy, NSW Housing put out a report in 2007 looking at North Sydney and as whole it grew 3% from 2001 to 2007, however Hunters Point (near Mosman) and in North Sydney grew a whopping 67% over same time period. So you seem right there.

I’m looking for data, but it’s hard to find. However, Manly has been flat since at least 2003 maybe a little down on the high end. That’s 6 years of CPI to catch up with 2003 highs. I’ve polled friends who own & live in the area and gotton some admittedly small samples sizes, but that’s the consensus. No swings since the high of 2003, just flat.

I honestly think the lending criteria is tougher here. Yes, fixed rates are unusual – most folks go with ARMS, but they are used to it and they remember the 80’s with double digit interest rates. Also banks hang on to the mortgages themselves and do verify. I’ve had 3 banks come to me to verify my employees salaries over the yrs. They want 2 yrs worth of payslips to verify and peel out any commission or bonus (they don’t count bonus/commission – base salary only.) Most folks put 20% down. No non-recourse loans.

How come you reckon Sydney trails USA on realestate by 1.5yrs? And/or that it’s a huge bubble here (in Sydney, Perth, Brisbane different story.)

I’d like to chase up that article you mention (ANZ CEO or something talking real estate) – can you give me something to go on?

I still can’t get away from the calculation that if I keep my 1mil AUD invested, it still just pays my rent after taxes. Same amount gets me apartment I’m happy in for 5-10+ yrs.

I suspect AU will weather the upcoming storm *relatively* well. Yes commodities are way down, but Au has a shitload of them, lock on iron ore, lots of uraneum, lots of other minerals, more cows/sheep/wheat than people and abundant gas & coal and at some point, the World will start building again. Banks down here didn’t engage in the shaningens to the same extent as US & EMEA. However, I still do see a very, very tough year or 3 and the unemployment train ain’t stopping. I’m just wondering if this will be enough to force the Manly area market down significantly.

I worry about inflation screwing me on my conservative investments, mostly term deposits in USD/EURO/AUD.

Manly is a great place. The sunglassed keen eye finds topless beauties on the beach every day, nice warm but not hot climate by the sea, good surf, clean & safe area, great wine (if you like big flavors) & food, sport, nice people, strong rule of capitalist law, efficient government & easy ferry shot to downtown Sydney.

[4826monongahela]

We’re cool on the FIRB thing – just got Permanent Residency visa status.

employment & general economic outlook is very poor with sentiment that worst is yet to come. I guess I just worry that with it will come cheeeeper house prices, and might be better to wait. On other hand, we really like the aptmt we are considering and have seen lots that aren’t as good (for us.)

[4826monongahela]

We’re cool on the FIRB thing – just got Permanent Residency visa status.

employment & general economic outlook is very poor with sentiment that worst is yet to come. I guess I just worry that with it will come cheeeeper house prices, and might be better to wait. On other hand, we really like the aptmt we are considering and have seen lots that aren’t as good (for us.)

[4826monongahela]

We’re cool on the FIRB thing – just got Permanent Residency visa status.

employment & general economic outlook is very poor with sentiment that worst is yet to come. I guess I just worry that with it will come cheeeeper house prices, and might be better to wait. On other hand, we really like the aptmt we are considering and have seen lots that aren’t as good (for us.)

[4826monongahela]

We’re cool on the FIRB thing – just got Permanent Residency visa status.

employment & general economic outlook is very poor with sentiment that worst is yet to come. I guess I just worry that with it will come cheeeeper house prices, and might be better to wait. On other hand, we really like the aptmt we are considering and have seen lots that aren’t as good (for us.)

[4826monongahela]

We’re cool on the FIRB thing – just got Permanent Residency visa status.

employment & general economic outlook is very poor with sentiment that worst is yet to come. I guess I just worry that with it will come cheeeeper house prices, and might be better to wait. On other hand, we really like the aptmt we are considering and have seen lots that aren’t as good (for us.)

[4826monongahela]

Stay in sales, you can move up to run a sales dept if you want then become CEO, esp if you like start-ups. Nothing limiting a very strong sales rep. You’ll probably make more $. If you’re very good at sales, you’ll likely make more than avereage corporate lawyer. Several folks I’ve worked with and learned from have gone this route, 3 have ultimately become CEO’s of SMB company. As you progress, you’ll learn contracts law a bit anyway.

Don’t recommend learning Chinese unless you are really, really in love with it & committed to working very hard and very long hours for a long time with large sacrifices. Chinese is very hard to learn and it’s not just language – there is culture, way of thinking, living and many years of developing contacts and trusting relationships before you will even come close to an even field with others who were born & brought up 1/2 & 1/2. Northern Asia is much different from doing business in NA, SA or EMEA, and “China” has many different regions each with different languages, cultures, etc which are all in turn much different from JP & KR. You need to really want to “go native” and jump in for a few decades, or forget it. It ain’t like a gringo living in SA for a bunch of yrs, learning language, culture and making contacts and then off you go doing business. It’s harder/takes longer.

[4826monongahela]

Stay in sales, you can move up to run a sales dept if you want then become CEO, esp if you like start-ups. Nothing limiting a very strong sales rep. You’ll probably make more $. If you’re very good at sales, you’ll likely make more than avereage corporate lawyer. Several folks I’ve worked with and learned from have gone this route, 3 have ultimately become CEO’s of SMB company. As you progress, you’ll learn contracts law a bit anyway.

Don’t recommend learning Chinese unless you are really, really in love with it & committed to working very hard and very long hours for a long time with large sacrifices. Chinese is very hard to learn and it’s not just language – there is culture, way of thinking, living and many years of developing contacts and trusting relationships before you will even come close to an even field with others who were born & brought up 1/2 & 1/2. Northern Asia is much different from doing business in NA, SA or EMEA, and “China” has many different regions each with different languages, cultures, etc which are all in turn much different from JP & KR. You need to really want to “go native” and jump in for a few decades, or forget it. It ain’t like a gringo living in SA for a bunch of yrs, learning language, culture and making contacts and then off you go doing business. It’s harder/takes longer.

[4826monongahela]

Stay in sales, you can move up to run a sales dept if you want then become CEO, esp if you like start-ups. Nothing limiting a very strong sales rep. You’ll probably make more $. If you’re very good at sales, you’ll likely make more than avereage corporate lawyer. Several folks I’ve worked with and learned from have gone this route, 3 have ultimately become CEO’s of SMB company. As you progress, you’ll learn contracts law a bit anyway.

Don’t recommend learning Chinese unless you are really, really in love with it & committed to working very hard and very long hours for a long time with large sacrifices. Chinese is very hard to learn and it’s not just language – there is culture, way of thinking, living and many years of developing contacts and trusting relationships before you will even come close to an even field with others who were born & brought up 1/2 & 1/2. Northern Asia is much different from doing business in NA, SA or EMEA, and “China” has many different regions each with different languages, cultures, etc which are all in turn much different from JP & KR. You need to really want to “go native” and jump in for a few decades, or forget it. It ain’t like a gringo living in SA for a bunch of yrs, learning language, culture and making contacts and then off you go doing business. It’s harder/takes longer.

[4826monongahela]

Stay in sales, you can move up to run a sales dept if you want then become CEO, esp if you like start-ups. Nothing limiting a very strong sales rep. You’ll probably make more $. If you’re very good at sales, you’ll likely make more than avereage corporate lawyer. Several folks I’ve worked with and learned from have gone this route, 3 have ultimately become CEO’s of SMB company. As you progress, you’ll learn contracts law a bit anyway.

Don’t recommend learning Chinese unless you are really, really in love with it & committed to working very hard and very long hours for a long time with large sacrifices. Chinese is very hard to learn and it’s not just language – there is culture, way of thinking, living and many years of developing contacts and trusting relationships before you will even come close to an even field with others who were born & brought up 1/2 & 1/2. Northern Asia is much different from doing business in NA, SA or EMEA, and “China” has many different regions each with different languages, cultures, etc which are all in turn much different from JP & KR. You need to really want to “go native” and jump in for a few decades, or forget it. It ain’t like a gringo living in SA for a bunch of yrs, learning language, culture and making contacts and then off you go doing business. It’s harder/takes longer.

[4826monongahela]

Stay in sales, you can move up to run a sales dept if you want then become CEO, esp if you like start-ups. Nothing limiting a very strong sales rep. You’ll probably make more $. If you’re very good at sales, you’ll likely make more than avereage corporate lawyer. Several folks I’ve worked with and learned from have gone this route, 3 have ultimately become CEO’s of SMB company. As you progress, you’ll learn contracts law a bit anyway.

Don’t recommend learning Chinese unless you are really, really in love with it & committed to working very hard and very long hours for a long time with large sacrifices. Chinese is very hard to learn and it’s not just language – there is culture, way of thinking, living and many years of developing contacts and trusting relationships before you will even come close to an even field with others who were born & brought up 1/2 & 1/2. Northern Asia is much different from doing business in NA, SA or EMEA, and “China” has many different regions each with different languages, cultures, etc which are all in turn much different from JP & KR. You need to really want to “go native” and jump in for a few decades, or forget it. It ain’t like a gringo living in SA for a bunch of yrs, learning language, culture and making contacts and then off you go doing business. It’s harder/takes longer.

[4826monongahela]

qwerty007 – can you tell me why you are luke-warm on HSBC? I use them regularly for previously mentioned purpose all over AsiaPac satisfactorily. Haven’t used HSBC in USA or EMEA, but the literature says should be no different (and Europe is their home turf.)

[4826monongahela]

qwerty007 – can you tell me why you are luke-warm on HSBC? I use them regularly for previously mentioned purpose all over AsiaPac satisfactorily. Haven’t used HSBC in USA or EMEA, but the literature says should be no different (and Europe is their home turf.)

[4826monongahela]

qwerty007 – can you tell me why you are luke-warm on HSBC? I use them regularly for previously mentioned purpose all over AsiaPac satisfactorily. Haven’t used HSBC in USA or EMEA, but the literature says should be no different (and Europe is their home turf.)

[4826monongahela]

qwerty007 – can you tell me why you are luke-warm on HSBC? I use them regularly for previously mentioned purpose all over AsiaPac satisfactorily. Haven’t used HSBC in USA or EMEA, but the literature says should be no different (and Europe is their home turf.)

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