|A good read . . .|
I'm starting to play with the same model for Australia, because unlike HK Australian residential property yields trade very differently due to the mix of negative gearing and pension fund investing that goes on in the market. Also Australia, like HK and unlike the US is based on a floating rate mortgage, which means that rates movements have a very big effect on the market. The RBA currently is in loosening mode because the government here is tightening because of a target to get the budget back to surplus. It's a fine balancing act and my money is on it not working. The Australian government could afford to get it slightly wrong when commodity prices were rising sharply because the money was coming in so fast, but now commodities are falling the buffer is just not there.
Tomorrow I'm going to walk down to Moore Park in Sydney where companies such as Mirvac have built thousands of apartments which seem to have been popular amongst Asian investors.
|HK, Singapore or Sydney?|
I managed to get out on the bike this morning. A cloudy and dull day meant I had to load up the Cannondale with my high lumen Moon Shield lights.
I know Sydney is not London, but I'm not prepared to give drivers the excuse of "I didn't see him; he didn't have any lights." The lights work great and are USB rechargeable which helps cut out the battery bills . . . just don't forget to charge up.
The latest UK and US cycling magazines are hitting the shelves right now and I have to admit that I'm starting to smile about all the winter clothes I won't be buying or wearing this year. I especially won't miss wearing my neoprene gloves, which although absolutely necessary mean you're always in danger of slipping off the brakes or shifters. Choose your gloves wisely and pay up in winter.