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Eric S Doms

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About Eric S Doms

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  1. Can you tell us what country you'll be buying property in? Or is it too early to tell?
  2. The way I see it, things will have to improve in the UK first before anyone will even think of buying abroad. But that is still a long way off so 2009 is gonna be a slooooowwwwwwwwww year for developers.......
  3. At the current moment, I think everything depends on what will happen in next week's national elections. If the ANC gets 2/3 majority of the vote, then it will take longer for the property market to recover. The Rand will also weaken & depending on who will be the next Minister of Finance, interest rates will keep on declining. So I see a more gradual recovery, but this largely depends on the lending criteria of the commercial banking sector.
  4. If you look properly, the original post was made in 2007 & at that stage no one knew what was going to happen in the market......
  5. We all know that if parliament decides to throw out all 'foreign workers', then Britain would collapse. Fact. So I think these ideas are just knee jerk reactions to a short terms problem rather than looking at the broader picture & implementing a more gradual but effective solution. I just hope that common sense prevails.......
  6. The South African Reserve Bank's (SARB's) Monetary Policy Committee (MPC) on Thursday decided to reduce the repo rate by 100-basis-points to 10.5 percent. This was in line with consensus expectations. Of the 14 economists polled by I-Net Bridge, nine were expecting a 100-basis-point reduction, while four were expecting a cut of 50-basis-points. One outlying economist had gone as far as predicting a full 150-basis-point cut. This takes the prime overdraft rate in SA to 14 percent from 15 percent before and will usher in significant relief for cash-strapped consumers. Interestingly, Mboweni said he had recommended a cut of 200-basis-points to the Committee after returning from the World Economic Forum in Davos. “They probably thought it was the snow, but I went in there all guns blazing,” he said. Mboweni also sketched a bleak picture of the economy, saying there will be a “rough patch” over the next two, three or four years and had a stern message for politicians who were telling their supporters otherwise. This comes just ahead of SA's own election around April. “Any politician who does not communicate that reality to their supporters is living in cloud-cuckoo land. There is no decoupling and there is nothing special about SA - it is part of the global economy,” emphasized Mboweni. “We must conduct ourselves in the manner that we are part and parcel of the global economy,” he added. He said the domestic economy was adversely affected by continuing turbulence in the global economy and that this would place further downward pressure on inflation going forward. Mboweni said that the inflation declining trend was continuing and that the central bank had factored in the changes to be brought about by a new CPI basket from next month. But he also noted that some risks to the inflation outlook remain. He said the MPC forecasts CPI inflation to average 7.5 percent in the first quarter of 2009 before declining to below the upper end of the 3-6 percent target range during the third quarter at an average of 5.2 percent. http://business.iafrica.com/news/1497421.htm
  7. So why do you even think you've got ANY license to have any sort of opinion?
  8. All is all, SA is still going to host the 2010 Soccer World Cup (apologies to Australia / Brazil / or any country who thought they would 'be given it cos SA can't handle' it. And when the world sees and realises that SA can handle something as momentous as this, then everyone is gonna wanna be our best mate !! (after the event has been a massive success, I'll post on this forum again just to shut up the 'Cry Wolf Crowd')
  9. Andre Sorry to disappoint on both counts as above. I am a South African who does have the necessary skills to live and work in London as I currently do, but I still go back to SA at least twice a year as I have an internet business there. And yes, Lew Geffen did quote a 40% drop in property prices but he got castigated by the entire real estate industry for 'scaremongering'.
  10. Kingsgate For someone who has over 4000 posts, I expected a better post from you. But I guess reading someone else's rhetoric and regurgitating it works for you...... It's not the tournament itself that will benefit South Africa the most, but it's the 'exposure' that the country will get from the world wide audience watching the tournament. Perceptions will change about Africa due to its ability to host the biggest Event in the World, and people will start to see that it is a viable investment destination. And for the sake of people actually wanting to enjoy a wonderful tournament, I hope for everyone's sake that you don't attend.
  11. Don't always believe what you read in the newspapers.......
  12. In the first place, this South African living in New Forest is obviously trying to justify his decision to stay in the UK, rather than go back in South Africa. If you get him drunk and then ask him........he'll probably tell you that he misses home more than he cares to mention. And as for the lady who went to visit SA, she probably had the time of her life and is afraid to tell you that, so as to avoid getting berated by persons who have not yet visited the country. South Africa, with all it's problems WILL still host the best Soccer World Cup EVER !! Mark my words :angry:
  13. Wait until SA hosts the Best Soccer World Cup yet in 2010 By then it would be too late to invest.........
  14. Dear Members I think many investors have written South Africa off due to the recent price increases since 2003. But I still think that there is a LOT of potential still to come. Reasons are as follows: 1. The emergence of a black middle-class known as 'Black Diamonds'. 2. The 2010 Soccer World Cup. 3. The ratio of Disposable Income to Household Debt which is still only at 76% 4. 93% of Land Claims by the have been completed. 5. Interest Rates are still at 25 year lows from a height of 25% in 1998. Anyone agree / disagree?
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