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Gwailo

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Everything posted by Gwailo

  1. Everyone should read this link.......good stuff!
  2. Mate, Perhaps you should write back to your bank and remind that that; 'According to your records, they owe you XXXX Quid and that you are currently charging them XX % Interest and that they may want to pop round some time to discuss the situation'. Banks in the UK are not used to having customers who have a large 'positive' balance in their accounts.......they prefer and expect that 'you owe them money' not the other way around! Cheers.
  3. Going back 'On Topic', I look at these Credit (Debt) Statistics for the UK and I just wonder how things are going to all play out. Has there ever been a time in history where so many people had so much debt? Will everyone become bankrupt? What happens to an economy as large as the UK when both the Credit & Property bubbles burst? Any predictions?
  4. Good for you, a child is wonderful! My wife really wants a baby now......it would certainly put a new angle on life and I would be delighted too. You are quite correct though, too much consumption these days, and nobody is any happier! Good to hear some people remain sensible in the UK. Cheers.
  5. Agreed! But I have a even better method: Marry a Japanese wife, but live in Asia! (I live in Hong Kong with a Japanese wife.......bliss!). Asian women are just lovely!
  6. As Americans.....surely, you must think the UK is really out of control? I live in Hong Kong and I couldn't afford to move back to the UK at todays current prices, not that wild horses could drag me back there of course. I would love to hear an American view point about life in the UK in general........I mean you could be living in Hawaii for Gods sake.......why the UK? Cheers.
  7. Basically, this is one (older) generation taxing the other (younger) generation. It is probably not deliberate, but the end result is the same. The best thing do to is to study Chinese (Mandarin) at University and upon graduation........head east and find work in the People's Republic! (There are tons of jobs here for someone who is a 'Native' English speaker who has a good command of Mandarin).
  8. This is turning into a very interesting debate, see how high House Prices lead to such issues eh? Australia could never defend itself, the army is way too small, the airforce has too few aircraft and the navy has got only a handful of 'doubtful' Colins Class submarines and a few surface vessels to guard a very long coast line. Having said that, no one these days serious expects a massed invasion from the north! It is just not going to hapen, its more likely there would be refugees flooding in from Indonesia than troops. Still, in the very unlikely event of any sort of military attach Australian Defence Forces would only have to 'hold the fort' for a couple of days and wait for the inevitable arrival of US Forces. There is no way the US would leave Oz to look after itself.......I'm sure you know about the treaty? Anyway, Oz is a very nice country, damaged by high taxes and low wages......and desite the child abuductions, (which are certainly on the increase), Oz still remains a bloody country to live in, (although its not perfect by any means). Cheers.
  9. Gentlemen, Many thanks for all your comments & views, very much appreciated. I actually work in 'Corporate Security', (I am not a consultant or anything like that), I am currently in Hong Kong and the work is coming in thick & fast. Business Resumption Planning now being the next big thing here is Asia (which is indeed very sad fact of life). I accept your points about Australia being full of highly qualified professionals being either unemployed, under paid but all equally over taxed! I lived in Brisbane for 1 years......so I know what you are saying is very true! It seems to me that Oz is a good place to settle down, have a good quality of live send the kids to schools etc.......but you need to earn your money overseas first! (Also keep it mostly off-shore away from the ATO). Anyway, I will keep my eye on the Melbourne property market, it looks like prices have 'gone soft' recently. I can only imagine a large correction is heading downunder soon judging by all the debts everyone is hauling around their necks. I don't plan to locate to Oz for 5 years yet, by then the bubble will be all over and hopefully there will be some bargains and a nice home to live in for the family......which is what property should be all about, not some cheap ATM. Best wish for the New Year to all.
  10. Mate, There is a high possibilty of the Wife & I migrating to Oz within the next few years. I said this before but here goes again, Oz is a lovely country and the people are just great, but I am fully aware of the problems living there etc. Overall, I think it is a worthwhile move for kids, quality of life and all that. It will have to Melbourne becausewe would be going under the Victoria State Nomination scheme, which requires 2 years minimum in that State......no problems there! What are your views, (or indeed anyone's views), of the future of Melbourne property prices. I hear that are falling slightly, which would be good news for a potential immigrant......but how far do you think they will fall? Look forward to hearing from anyone with an opinion.
  11. I would agree that there are thousands of Brits emmigrating to Australia & NZ each year, but to be honest I can't really see how this relatively small number of British people selling their houses and buy a couple of place 'down-under' is going to have much of an effect on the general property prices there. You could equally argue, that there are as many Asian immigrants flooding into Australia......they would have just as much money, (if not more), than the average bloke from the UK. So why not state that the Australian property bubble is a result of Asian immigration? Frankly, I go back to this 'Angle Saxon' thing, in that each of these Anglo Saxon nations, (UK, Oz, NZ, Ireland, USA), all have property bubbles........but I can't see the UK as being the root cause of the Worlds property bubble? Still, I would certainly agree that the UK does have some impact, certainly to a large degree in Spain, France and other parts of Europe and to a limited degree to Oz, NZ and Canada. I would also totally agree with you about the 2 years required for a UK HPC to filter down to those other parts of the World where people from the UK have bought property. We live in interesting times eh?
  12. I also live in Hong Kong, (15 years so far), and I can 100% confirm what Walker 127 is saying! The market fell by some estimates between 60-65% from the 1997 peak...........not bad eh? Things picked up however, after the SARS situation died down and in the so called 'mass market' (i.e. little appartments for the middle classes), have gone up about 30 odd % since mid-2003. As the 'luxury' high end of the market, apparently prices are now back to their 1997 levels and still rising! Therefore, the Hong Kong property market is current really two separate markets, with the luxury market being particuarly boyant. One additional factor is that many of the buyers for these 'high end properties' are from Mainland China who are flush with cash, (from whatever source?), so this particular luxury market is dependant upon the economy of the Mainland. Still, of particular note this that Hong Kong people were saying the same old stories back in 1996/1997....."Can't lose with property, never goes down etc....." UK be warned!
  13. Credit cards are the work of the Devil...............we all know that. However, if you ever go abroad you'll need one to book into a hotel, rent a car etc, etc......! Just consider this, if 'Credit Cards' were called 'Debt cards'.......do you think they would be so attractive? I didn't think so. (Live the debt free life).
  14. Yes I lived in Brisbane for 1 year (2000 to 2001) so I know the weather is SEQ is good......hot in the summer! What are your views on Irish property. Cheers
  15. I might be better off just moving to Ireland then......if the weather is more or less the same? At least in Ireland I can take one of those cheap n' nasty Ryanair flights to anywhere in Europe for a quick vacation. My impression of Australia is that it is a lovely country, nice easy going - straight talking people but quite isolated from the rest of the World (geographically that is). Australia........a very rich country with a lot of poor people. Cheers.
  16. At this rate we could be looking at $2.00 to the Quid by 1st the new year......I hope not! (I'm paid in Hong Kong Dollars which are pegged to the US$). Cheers.
  17. TTRTR, Many thanks for the links, I'll do that.......I'm sure it will be useful. My problem is this: I live in Hong Kong with a very good career, (well paid), I've got a Japanese wife and we both can't face going back to the UK and so Australia is an option.......maybe. I am pretty sure the career options in Oz will be less than those in either Hong Kong or the UK, but the 'lifestyle' should be pretty good! My other option is to stick it out in Hong Kong and then move to Ireland, where the living standards are pretty good, but the weather is ......well, shite really! Any views from those Australians in the crowd on life in Oz compared to the UK (or Ireland even) would be deeply appreciated. Cheers.
  18. Mate, Presumably you are from Brizzy? I lived there for a year.......loved it! I am also considering immigration to Oz, (with Victoria in mind), and any views on the future of property prices in Oz would be deeply appreciated. (In particular Melbourne). Cheers.
  19. Probably after Christmas...................late January to be exact! That will be when the Christmas 'Credit Card Bombs' arrive through the post and prices REALLY start to drop! It will be ugly for sure!
  20. Thanks for that! I particuarly agree with:- 10. Beckham says or does something else stupid. But seriously, I think you are quite correct on your predictions, (except perhaps about the White Christmas). Bit of a mess isn't it eh?
  21. I've been watching the UK economy for the past few years in shear wonder....................wonder when it's all going to collapse? I live overseas, (Hong Kong), and I have come to the conclusion that the Uk is set for 'The Prefect Storm', should be interesting to watch from a distance, (Hong Kong is probably far enough), but I can't help feeling sorry for my mate back home. Obviously there are many people on this forum who share my views and it isn't just the older ones. So, what are the predictions for the future anyone?
  22. To be fair, many years ago if you didn't have the cash you had to save before you made a purchase. Obviously those days are long gone, (shame really), and now it's all 'Instant Gratification' with your credit cards! The programme should really be looking at now the Consumer Credit industry has take over our lives and has become the new 'virus' for many people. Cheers
  23. Does anyone else agree with me on this? That the British people are now virtually 'Economic Slaves' what with silly property prices, high consumer debts, increasing taxes and almost no actual cash in the bank for that rainy day? It just seems to be total madness that people in the Uk have quite happily allowed themselves to become 'trapped' in the rat race for the rest of their working lives? Maybe I am wrong and that is what life is all about after all, but to me working for 30-40 years in a miserable job slaving away just to end up owning a small box of bricks isn't my idea of fun! Discuss.........
  24. Here goes, but bear in mind I live & work in Hong Kong. 1. GBP 50,000 = Basic Salary 2. GBP 3,000 = Non-regular/other annual income (Bonuses, Commission,etc) 3. Zero = Income from Dividends 4. Zero = Annual Rental Income (if landlord) 5. GBP 2,500 = Income from other investments 6. GBP 195,000 = Capital currently in property 7. Capital currently in shares 8. Capital currently in commodities 9. GBP 30,000 = Capital currently in other investments 10. GBP 41,000 = Cash in bank, savings, ISA, etc 11. GBP 2,000 = Annual gross interest earned on savings
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