Boom times return?
- Thread starter Ausprop
- Start date
Oral History is hard to contest
Get any family group together no matter the race and there'll be squabbles of one type or another
Interestingly Broome's electricity is produced by a Gas Power Station
In that case you are probably pretty good at maotai as well.
Olympic Dam has been deferred yet again even though the SA govt is making noises about takin it off them. I think that says something.
oh hooray - finally. so stupidly cheap down there
According to this, the boom never left us:
http://www.abc.net.au/unleashed/3726692.html
Apparently we're amongst the fairest, weathiest, lowest taxed and fastest growing in the western world (though some comparative stats with more Asian countries would have been nice).
The number that sticks out most is the median Aussie is over 4 times wealthier than the median American, and double the Japanese, British and Canadian.
http://www.abc.net.au/unleashed/3726692.html
Apparently we're amongst the fairest, weathiest, lowest taxed and fastest growing in the western world (though some comparative stats with more Asian countries would have been nice).
The number that sticks out most is the median Aussie is over 4 times wealthier than the median American, and double the Japanese, British and Canadian.
Clearance rates are nonsense ways of determining strength of a market. All a clearance rate shows is what proportion of properties sold on the day. A low rate could mean vendors are unrealistic, and conversely for a high rate.
on a long weekend.......please, put up some better statistics.....
Noticed there were a lot of sold priors and sale not disclosed in the Sydney results. Not sure if the 50% includes those.
And that's the reported ones...
I wonder how many actually sold on the day of the auction, and how many were passed in with nothing but a Vendor's bid?
And just as significant; what was the volume of total auctions compared to last year, and total properties for sale compared to last year?
Agreed. In fact one of the companies aussierogue just mentioned (think CITIC, Sinosteel, Wuhan Iron etc), their head honchos are around and will be meeting them in these few days. In the mean time, here's some food for thought on where China's real estate market is heading.
At $7000/sqm per floor space, that makes China's top economic centers (Beijing, Shanghai, Guangzhou, Shenzhen) far more expensive than Sydney and Melbourne. How much are Paramatta and Springvale land going for these days? A$3000/sqm? And we're crying affordability here. How do you expect 98% of the average 22 million Shanghainese population earning $RMB4000/month (A$600/month) to afford A$7000/sqm?
So if you're now a little bleak about China's real estate, check out what they mostly use their steel for in my second graph.
Ah now time to prepare for the meeting with the head honchos from China in a few days. Better brush up on my KTV skills in case their juniors drag me out. Looking forward to singing some new Fish Leong and JJ Lin songs.
PS: not sure how the Indians who earn 50% of what Chinese earn and therefore earn 2% of what Japanese earn are paying the same US$/sqm price as Japan. Property is either held by an elite 0.01% of population, or the population lives in 2sqm houses. Disclaimer: I know nothing about India.
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Oh and just in case you didn't quite understand the significance of a SEVERELY overpriced Chinese property market and what a subsequent steel consumption slowdown means for Australia, hopefully this graph brings it home.
PS: met coal is also used to make steel
Hahaha...
PS: met coal is also used to make steel
Hahaha...
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Don't worry these companies aren't silly. I don't know about FMG, but I can tell you the other 2 are looking past 6 months and share a view similar to ours.
They just don't tell the guys on this forum in case they dump their stock.
You know karoake doesnt mean karaoke?
I enjoy the former.
But am occassionally dragged to the latter unfortunately.
Friends on the floor with Xstrata, Noble, Glencore etc doing physical trading in Shanghai tell me they do the latter every night. One of my mates at Noble in Shanghai is the most straight and honest guy... feel sorry for him.
Got made to drink nearly a bottle of mao tai the other day because steel buyer said if you don't drink I don't sign. He didn't sign in the end any way.
http://econews.com.au/news-to-sustain-our-world/aust-economic-growth-sluggish-lng-exports-boom/
as iron ore loses it's importance LNG is coming up, among other commodities. of course all exports are welcome
as iron ore loses it's importance LNG is coming up, among other commodities. of course all exports are welcome
Oh no it's lunch time for the corporate mouse.
Come back after lunch with some more feedback and tyre kicking on LNG thoughts.
Hot Rod are you asking about iron ore? After China other big importers I think are Japan and Korea. But can do some digging after lunch (or I mean get someone to do some digging).
Interestingly it's a question not often asked. Most questions are about who is China importing from (of which Australia is the top choice), and cost curves (that is who's cheaper, again Australia), and who's grades are better (again Australia but also Brazil).
Signing off for now
Tyre kicker running on mouse wheel (wheeeeeee), wanna be land owner
Come back after lunch with some more feedback and tyre kicking on LNG thoughts.
Hot Rod are you asking about iron ore? After China other big importers I think are Japan and Korea. But can do some digging after lunch (or I mean get someone to do some digging).
Interestingly it's a question not often asked. Most questions are about who is China importing from (of which Australia is the top choice), and cost curves (that is who's cheaper, again Australia), and who's grades are better (again Australia but also Brazil).
Signing off for now
Tyre kicker running on mouse wheel (wheeeeeee), wanna be land owner
Oh and just in case you didn't quite understand the significance of a SEVERELY overpriced Chinese property market and what a subsequent steel consumption slowdown means for Australia, hopefully this graph brings it home.
PS: met coal is also used to make steel
Hahaha...
HAHAHA indeed
i like how commodities are only based on stuff dug out of the ground.
you missed wheat, cattle, sheep, fruit, vegetables.....