I try to leave that to the academics.
Which way is the economy heading?
- Thread starter TMNT
- Start date
And just blindly wait for the fallout
Im no expert but believe the more I can learn about our place in the world economy the better prepared I can be making investment decisions.
So, what investment decisions have you made of late?
I see this too, in various parts of Melb and outside in Regional.
If there are so many vacant buildings around the place, then you have to think that;
a) More LL's are copping vacancies - less joy for them
b) More folk who used to work in those factories/shops lost their jobs - less joy for them - may not find more work in the short term.
Overall; most places are not hiring; and many are restructuring their staff requirements so that you have folks on less hours, or casual etc.
The employment figures are false; they don't factor in those who are not participating, and factor in those who have gone from full-time to less than that.
Folks will still spend their money on things no matter what the economy news is like, but the volume will be way less.
Add to that the ever-increasing sales from O/S internet businesses and the cocktail isn't a good look for local activities.
Keep an eye on how long the vacancies are for these Commercial places you see vacant as you travel around.
Several....keep in mind a decision is simply a choice made between alternative courses of action in a situation of uncertainty. There does not need to be any tangible sign of a decision. A decision is a mental process identifying a path to a final outcome. You should have asked what investments I have made as a result of my decisions...that is if you are looking for justification of time spent in my analysis of world economics and the effect on our local economy...
That's a bit deep for me.
I guess some people's investment decisions also involve seeking enlightenment by channeling aura across spirits from the netherland also.
I guess some people's investment decisions also involve seeking enlightenment by channeling aura across spirits from the netherland also.
Went for a walk around Surfers Paradise yesterday afternoon in the rain,, one of the daughters shouted us a weekend away at a high-rise hotel-with a free beer wine food happy hour from 6.30 till 8.00 all you can drink,and what a mess the main Surfers strip is in I know the new tram line may have a high factor in all the vacant for lease food outlets nightclubs but even the numbers walking the streets are down,a lot of well dressed Ladies from the middle east,a few backpackers ,,a few Americans ,,a few English ,,looking at a few "RE" sales windows there was even some top level penthouses for just above 500k,make one think because it you can make it work on the Gold-Coast it will work anywhere in Australia or the World..imho..
We used to holiday at the Gold Coast, before it became a dump. Nice beaches but the rest is just dated, dirty and run down. When walking at night with the family back to your room after dinner you definitely don't feel safe... It's like you don't go out after dark, especially with kids. My skin crawls just thinking about it
We now holiday up the Sunshine Coast (when holidaying locally). Much better feel
Sums up QLD for me
Surfers has been a dump for years. I don't know of too many Gold Coast locals who ever go near the place, except for maybe really young people looking to party at night. Everyone else knows to avoid the area like the plague.
Agree with an above poster about the coastal towns to the north and south of the GC though. They are becoming extremely popular with sea changers and tourists alike. I live just out of the Gold Coast. We have had wonderful weather this summer and I have never seen so many people in these areas before. Everywhere has been packed out! Even now that the school holidays are over, the area is still really busy and has a definite 'buzz' about it. I've lived here for most of my life and haven't seen it like this for ages. I know a lot of business owners who say that things are currently booming for them. I work a couple of days per week (retail) but often take on extra shifts if it's busy - the past few weeks especially have been insanely busy! I've been working 5-6 days each week and still the extra shifts are being offered. The question is, will it last?
Agree with an above poster about the coastal towns to the north and south of the GC though. They are becoming extremely popular with sea changers and tourists alike. I live just out of the Gold Coast. We have had wonderful weather this summer and I have never seen so many people in these areas before. Everywhere has been packed out! Even now that the school holidays are over, the area is still really busy and has a definite 'buzz' about it. I've lived here for most of my life and haven't seen it like this for ages. I know a lot of business owners who say that things are currently booming for them. I work a couple of days per week (retail) but often take on extra shifts if it's busy - the past few weeks especially have been insanely busy! I've been working 5-6 days each week and still the extra shifts are being offered. The question is, will it last?
Something to think about for you all;
http://finance.ninemsn.com.au/newsbusiness/aap/8795719/the-rba-offers-a-bleak-outlook-for-jobs
http://finance.ninemsn.com.au/newsbusiness/aap/8795719/the-rba-offers-a-bleak-outlook-for-jobs
Further to the last post; was having a conversation just this morning with one of our customers who is a foreman in civil construction around the State...goes everywhere, and all odd hours etc.
He is out of work and has been for several weeks now; with nothing on the horizon, living off savings. Fortunately he has put a bit of cash away for these sorts of scenarios.
He has had to start up a business trying to do home maintenance etc, has an excavator and so on, to keep the dollars coming in.
He was telling me that there are currently 30,000 civil construction workers out of work in that industry.
He is out of work and has been for several weeks now; with nothing on the horizon, living off savings. Fortunately he has put a bit of cash away for these sorts of scenarios.
He has had to start up a business trying to do home maintenance etc, has an excavator and so on, to keep the dollars coming in.
He was telling me that there are currently 30,000 civil construction workers out of work in that industry.
Tell him to come to Sydney, holes being dug everywhere.
Holes for what?
Ah!
Yep; these guys are in both that, and infrastructure work - trains, roads, bridges, tunnels etc.
It'd be interesting to see the % of the Sydney guys in that same field who are in work/out of work (in that field...a lot down here would have to look for other work of course.
There is construction going on all over the place down here too, but what appears to be a lot to us looking in from the outside may not actually be a lot overall...
For eg; when I was in golf, everyone thought driving ranges were gold mines, because whenever they were there it was busy, but most of the folks only saw them during the busy times of the day.
But, if it's as busy as you say; they can all pack up and move up your way for the work.
At the moment in Sydney there are 27% more cranes in operation than last year. Hasn't been this much work since before the Olympics.
Prices are still cheap though. Bit of a wages outbreak going on as subbies try to find blokes for the work they are demanding higher wages. A lot of apartments going up. Exact same thing happened around 2001/2002 as the Sydney property market was booming. Once rates start to go up the commercial side will pick up and we'll start to see office blocks going up as confidence increases.
Prices are still cheap though. Bit of a wages outbreak going on as subbies try to find blokes for the work they are demanding higher wages. A lot of apartments going up. Exact same thing happened around 2001/2002 as the Sydney property market was booming. Once rates start to go up the commercial side will pick up and we'll start to see office blocks going up as confidence increases.
Do you think rates will go up anytime soon, given the link I posted?
I can't see it - the economy is not that flash; despite a little bit of a silly season in the r/e camp atm.
Similar threads
