just bought second IP-60 minutes FREAKED me out!!

[BV]

There are many redundancies occuring daily now. The finance industry was one of the first hit - with Australian jobs slashed and replaced by cheaper labour in India.

Qantas has moved maintenance overseas.

The car industry is in turmoil with job losses being announced daily.

.

Jason, just on those 2 points I would disagree they are directly related to the current credit crisis, but more of long term factors.

Both markets they reside in are very competitive and going through consolidation.

Keydefender

I agree, and even those bank jobs which shifted to India have been gradually coming back here because the savings are minimal and the risks are high.

Quantas will learn the lessons of greed, soon enough when their bookings fall
due to safety concerns.

Cheers

 

[BoatBoy]

Jingo,


Having said that...I can't foresee a 40% drop in real estate across the board. I truly believe that this will be limited to the premium end of the market where prices are set by emotive means....there is evidence that is happening. For example a mansion in leafy Upper North Shore Wahroonga is on the market for $2.5m after the owners were trying to sell it for $3.5 earlier. This represents over a 40% drop.



Cheers
Sash

No, that represents a 28% drop, a 40% drop would be $3.5 million back to $2.1 million

Dave

 

[marg4000]

And who knows if the $3.5m was ever realistic, or simply a maketing ploy to make the reduced price seem attractive?

Maybe the house isn't even worth $2.5m...
Marg

 

[sash]

Agreed......but there seems to be alot of high end properties like this up for sale quietly in Sydney.

Will be interesting to see how this segment of the market fares in the next 12 months.

Cheers
Sash

And who knows if the $3.5m was ever realistic, or simply a maketing ploy to make the reduced price seem attractive?

Maybe the house isn't even worth $2.5m...
Marg