Jump to content
House Price Crash Forum

Gwailo

Members
  • Posts

    164
  • Joined

  • Last visited

Everything posted by Gwailo

  1. I have to agree with this sentiment! I live in Hong Kong & I have no intention of ever moving back to the UK ever again! The UK is just too expensive and too controlled these days to even consider moving back 'home'. Na...............I'll see my days out either in Malaysia or Australia! Cheers.
  2. I have to tell you that there is a British bloke (from Newcastle) who has opened a Fish n' Chip shop here in Hong Kong. I was there last night.......business was good apparently!
  3. I tend to agree with this approach too! Like you recommend, I have most of my wealth in cask (Channel Island off-shore high interest), and also property in the UK which I am planning to sell soon! (It might be too late actually but we'll see). Gold is a good one & I am now buying the odd Gold bullion coin whenever I have a bit of spare cash. Silver is also a pretty good (currently low cost) investment and I am now also going into this too. Gold & Silver 'might' increase massively, we honestly don't know, but at least if you hold 20% of your wealth in these metals you can sleep at night knowing they will always be worth something. Cheers.
  4. And Silver.......apparently it is about to rocket! I've started buying both Gold & Silver already. Cheers.
  5. I have also started looking into Silver too! Gold is already in my portfolio (thanks for the tip Dr. and now I am looking at purchasing Silver bullion. Here in Hong Kong we can purchase Silver Tax Free! (Yep that right! NO VAT over here), so I will start collecting Silver bullion coins from now on. There are lots of commentators out there who are predicting Silver to reach US$50 to even US$150 per-Ounce. Who knows if they are going to be correct, but I think it is worth a few Quid (that is all it costs for Silver these days) for a bit of a gamble and just wait and see where it leads. Cheers.
  6. Bloody hell! I wouldn't fancy being in this chaps shoes! I looked at the link and foun d there was another bloke on there with about 74,000 Quid in un-secured loans..........it seems there are quite a few people out there with these levels of personal debt. It looks nasty to me. Cheers.
  7. Andy Xie well known and highly respected here in Hong Kong too. People listen to his comments & I think he has some good points in his article. Deflation is good is it not?.......if you have cash in the bank or you have already STR? I certainly hope so, because most of my wealth is now in cash & gold bullion. I would rather see deflation than inflation.......any views on this? Cheers.
  8. I personally I am very concerned........and I don't even live in the UK anymore! I think this time the recession will be particuarly nasty! This time there is far more debt than in the early 1990s and the US Dollar is about to become a dying currency. A major crash in Australia is likely first (underway by most accounts) followed by the Uk and finally to US.......which will be the really big one! Hanging on to your job will be difficult (even here in Hong Kong) and I think we should all stay well clear of any debts (or pay any debt down ASAP) and prepare to 'batton down the hatches'. The only only good thing about it all is that we will all learn a bit more about humanity again. Cheers.
  9. Also Malaysia! You can get a lot of house for your money over there! Nice country too! (Great beaches). Property is cheap as chips in Malaysia.
  10. Not really! The Chinese have their own problems with property bubbles, just look at Shanghai, Beijing & now Hong Kong again........its World wide this problem! No offence intended.
  11. I hae also been looking into the 'worst case scenario' and I have some to the conclusion that you need some Gold Bullion coins (possibly even Silver coins to pay the milk man) and a property fully paid-off (not easy). I have even been buy Gold coins from the local Hang Seng Bank (here in Hong Kong.......just line up wth all the old biddies). The majority of the 'liquid wealth' is in cash in Pounds Sterling (off-shore cash deposits) which make me a bit concerned if the bottom fell out of all major fiat currencies. Does anyone seriously think this could happen?
  12. I do like the new Web-site! Could be 'heavily used' in the next few months as the World starts to slow down.
  13. Personally, I suspect that GOLD will become rather popular after the crash. Although for the 'man in the street' he will most likely stick with Cash, as you said. I am currently buying up a ew Gold Coins here in Hong Kong to keep stashed away for the bull market expected in the next 5 years (Gold & Silver). Just my personal view.
  14. I've thought about these issues myself & although I no longer live in the UK I can see why there are some feelings of resentment in the younger generation. For starters, if you are in your 50s and now looking forward to retirement, you are 'sitting pretty'. Probably you have paid off your mortgage sometime ago (for a property you purchased at a 'reasonable' price 20-30 years ago) this gives you considerable equity. Secondly, you probably have a decent pension or even a 'final salary' pension, combined with the fact that you can expect the normal state pension when you reach 60/65 which means you won't really need to worry too much about a 'living wage' when you decide to stop work. Thirdly, you can 'cash-in' now and retire abroad, spending only a portion of your equity on a nice property that most of us can only dream about in a nice country somewhere in Europe which has a nice environment (good weather) and still retain a sizeable sum of cash, nice! I would say anyone in those circumstances is in a pretty enviable position. Whilst I don't want to wish my life away, or anything like that, but you have to admit these people were born at the right time & had the opportunities that the younger generation dont have today. I sometimes wish I was their age, or rather I wish I had their opportunities. I can't blame them, they are only taking advantage of the opportunities that presented themselves at the time, and I am also sure they worked very hard for what they have achieved......fair enough I say. However, I can also understand the resentment and the hopelessness of the under 30s. Just these are my views I hope nobody is offended. Cheers.
  15. I tend to agree with your approach (I am also very risk adverse). If you want to sleep easy at night, may I recommend cash deposits. You know exactly where you stand and you can be sure of 5% these days, which isn't bad really. Apparently hard times are upon us shortly (even in China eventually) so I am also buying some Gold Bullion (nice insurance and makes me feel wealthy too!). Good luck!
  16. I live in Hong Kong, where I can easily just pop into my local Hang Seng Bank branch during lunch and buy some Gold coins (US Eagle 1 OZ coins). With all the current financial uncertainty and worried about the US Dollar, do people think this is a good idea? (I plan to 'invest' say US $450 per-month this way). Is the price of Gold only going to increase? Any views would be deeply appreciated.
  17. Actually Gwailo translates directly into 'Ghost Man'. I guess we look pale and white compared to the locals so the result is being compared to a Ghost......fair enough I guess (I don't have a problem with it). Hong Kong is a great place eh?
  18. Mate, These are my personal views:- I would avoid buying anything in Hong Kong right now! Rumor has it (can't disclose the source) that interest rates will be rising higher than the general public are currently expecting. Coupled with the fact that property prices have risen about 30% since SARS, (even higher for the luxury 'High-End' market), but salaries have increased y a tiny amount, if at all, leads me to believe the market is due for a downwards correction.......maybe early 2006 (just my personal guess). It is far cheaper to rent than to buy right now..........another strong indicator. Cheers.
  19. I am aged late thirties. At age 19 spent 1 year in Kenya (Voluntary work). At 20 joined the Royal Hong Kong Police, did that for 12 years (Senior Inspector), got married to a very nice Asian lady. Spent 1 year in Oz (learning to fly), followed by 10 months back in the UK (hated it to be honest!), and then back to Hong Kong where I am now working in Corporate Security. Our first kid is now expected (Ocober), I still own a property in the UK although I am now seriously thinking about selling (it might already be too late). Don't fancy going back 'home' so plan to remain an expat until I die! Cheers. Gwailo (Cantonese slang for foreigner).
  20. <{POST_SNAPBACK}> A very interesting article. Who do you trust...............? Well certainly NOT the 'Chief Economist for the National Association of Realtors'! Ask yourself this.........is this guy selling all his investment properties, of course he is! Cheers.
  21. Wow! Debt levels of 160% of income.........how bad is that? Is the UK better or worse than Oz? There will be some serious bargins on the property market over the next couple of years. Cheers.
  22. Yep! We all know what you mean. However life goes in cycles. Today it is all greed, greed, greed and moral standards fall and it's all out of control. Given time it will all 'go bad' and there will be a massive economic shock to the system at some point leading to mass unemployment, property prices falling, shops closing down, cars being sold cheap etc etc.........then everyone will re-discover their humanity again. It happened here in Hong Kong (1998-2004) and it happened in the UK (1989-1996) there are so many examples throughout history and no doubt it will happen again. Just keep yourself out of debt, save as much cash as you can & gain as much valuble experience at work as you can to protect yourself as far as reasonably possible from the fallout. You could also always emmigrate......another sensible option (one that I did myself). Chill........be patient!
  23. I agree actually! If you are young, educated and free of mortgages & debts etc........your best bet is to leave the UK for a few years, see the World, save a few more quid and observe from a distance! Cheers.
  24. This is the problem with British people, they can only see as far as 'What type/size of house/garden can I get for my money'. They never seriously consider things like........language, freinds, health care, family etc........just the property. Another factor is the remortgaging of existing UK property to finance these 'exotic location' investments. There is going to be an inheritance issue for the next generation when all the money has gone abroad! Could be nasty!
  25. Thats what I am hoping for! I am looking to buy a 'home to live in' sometime in the future in Melbourne........whats the latest news? Cheers.
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.