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Old Yesterday, 03:06 AM
 
Location: Australia
479 posts, read 162,500 times
Reputation: 926

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Quote:
Originally Posted by danielsa1775 View Post
Mortgage debt is a financial obligation, it brings the net financial asset base down.
Yes, obviously. But in Sydney only a third of households have a mortgage. Another third rent and the last third have their house paid off.
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Old Yesterday, 03:35 AM
 
Location: Brisbane
3,386 posts, read 5,258,621 times
Reputation: 2707
Quote:
Originally Posted by MarisaMay View Post
Yes, obviously. But in Sydney only a third of households have a mortgage. Another third rent and the last third have their house paid off.
Indeed, also our government could also bring its debt levels up to USA government levels and pay down household mortgages with that money. It would make the net reported household financial asset position look much better, without any actual net increase in debt levels.
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Old Yesterday, 04:58 PM
 
Location: 59N
5,114 posts, read 5,625,883 times
Reputation: 3892
Quote:
Originally Posted by MarisaMay View Post
Look, the figures move around according to the current exchange rate so it is hard to make comparisons.
Yes, that is true.

USD v NOK (Norwegian krone)

2017 8.2630
2016 8.3987
2015 8.0739
2014 6.3019
2013 5.8768
2012 5.8210
2011 5.6074
2010 6.0453
2009 6.2817
2008 5.6361
2007 5.8600

1 million NOK in 2013 was ~170k USD. In 2017 the same amount in USD was ~121k USD.* That is a decrease of 29%.

* Not adjusted for inflation.
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Old Yesterday, 05:41 PM
 
Location: Taipei, Taiwan
6,608 posts, read 4,807,255 times
Reputation: 4352
Quote:
Originally Posted by MarisaMay View Post
Look, the figures move around according to the current exchange rate so it is hard to make comparisons..
Yeah Australia, UK and Japan's figures have decreased a lot since AUD, GBP and JPY have been fairly weak for a while. GBP especially is projected to be even weaker when **** hits the fan next year.
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Old Today, 01:39 AM
 
Location: Australia
479 posts, read 162,500 times
Reputation: 926
Quote:
Originally Posted by Greysholic View Post
Yeah Australia, UK and Japan's figures have decreased a lot since AUD, GBP and JPY have been fairly weak for a while. GBP especially is projected to be even weaker when **** hits the fan next year.
The Australian Reserve Bank certainly does not want our rate to go up, much as we as travellers may prefer it. It is much better for our economy to have a weaker dollar, making shopping and holidaying at home cheaper, encouraging incoming tourism and making exports cheaper.

It was great for me when the dollar was at parity as our kids were living overseas and it made visiting them so much cheaper than usual. But we never expected it to last forever.
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Old Today, 06:49 AM
Status: "Free Bird - Eagle has landed" (set 7 hours ago)
 
Location: Washington State
16,132 posts, read 8,406,152 times
Reputation: 13733
Quote:
Originally Posted by MarisaMay View Post
The Australian Reserve Bank certainly does not want our rate to go up, much as we as travellers may prefer it. It is much better for our economy to have a weaker dollar, making shopping and holidaying at home cheaper, encouraging incoming tourism and making exports cheaper.

It was great for me when the dollar was at parity as our kids were living overseas and it made visiting them so much cheaper than usual. But we never expected it to last forever.
And I don't expect the current high value of the US dollar to stay this high. yeah as one who has spent years abroad, the high value of the USD the last few years has made vacationing in other nations very cheap.
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Old Today, 06:52 AM
 
Location: Taipei, Taiwan
6,608 posts, read 4,807,255 times
Reputation: 4352
Quote:
Originally Posted by Tall Traveler View Post
And I don't expect the current high value of the US dollar to stay this high. yeah as one who has spent years abroad, the high value of the USD the last few years has made vacationing in other nations very cheap.
US dollar isn't particularly strong atm. It's the other currencies (EUR, GBP, AUD, CAD, JPY) that have gotten weaker. To currencies like TWD, HKD and KRW there hasn't been any real change for like more than a decade.
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Old Today, 09:53 AM
Status: "Free Bird - Eagle has landed" (set 7 hours ago)
 
Location: Washington State
16,132 posts, read 8,406,152 times
Reputation: 13733
Quote:
Originally Posted by Greysholic View Post
US dollar isn't particularly strong atm. It's the other currencies (EUR, GBP, AUD, CAD, JPY) that have gotten weaker. To currencies like TWD, HKD and KRW there hasn't been any real change for like more than a decade.
In all of the places I've lived for more than a year (Russia, Peru, Spain, Azerbaijan), their currencies crashed compared to the dollar while I've been there and as I've vacationed in such countries as Chile and Argentina...I think you might be correct on a few currencies but overall the USD is much stronger now than it's been going a few years back.

A few examples, when I arrived to work in Russia, the Ruble to USD was 22 to 1....now it's 69 to 1.

When I was in UK, it was more than $2 for 1 pound and now it's 1.27

When I was in Spain, it was $1.60 per Euro and now it's $1.14

Azerbaijan currency was 1.20 to the USD and now it's 1.67 Manat to the USD

When I was in Peru, it was 2.40Sol when I arrvived and 3.4 when I left

I haven't been anywhere in the last 10 years or so that's there has been the opposite occurring....maybe some but not many.
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Old Today, 10:06 AM
 
Location: Taipei, Taiwan
6,608 posts, read 4,807,255 times
Reputation: 4352
Quote:
Originally Posted by Tall Traveler View Post
In all of the places I've lived for more than a year (Russia, Peru, Spain, Azerbaijan), their currencies crashed compared to the dollar while I've been there and as I've vacationed in such countries as Chile and Argentina...I think you might be correct on a few currencies but overall the USD is much stronger now than it's been going a few years back.

A few examples, when I arrived to work in Russia, the Ruble to USD was 22 to 1....now it's 69 to 1.

When I was in UK, it was more than $2 for 1 pound and now it's 1.27

When I was in Spain, it was $1.60 per Euro and now it's $1.14

Azerbaijan currency was 1.20 to the USD and now it's 1.67 Manat to the USD

When I was in Peru, it was 2.40Sol when I arrvived and 3.4 when I left

I haven't been anywhere in the last 10 years or so that's there has been the opposite occurring....maybe some but not many.
Like I said, USD has remained stable, it's all the other currencies that have gotten weaker. The economies that are heavily dependent on natural resources have been hit the most due to the plummet of the oil prices. Russia, Norway, Canada, Australia and literally all countries with oil (Gulf States and Azerbaijan) all belong to that group. Euro has gotten weaker because the financial crisis hit them hard and GBP keeps falling because they were stupid enough to vote for Brexit AND haven't come up with any plan for March.

So yeah, USD hasn't gotten stronger, it's the other currencies that have devalued. For the few other currencies that have remained stable for the past decade (like the 3 I mentioned), USD exchange rate hasn't soared.
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Old Today, 10:30 AM
Status: "Free Bird - Eagle has landed" (set 7 hours ago)
 
Location: Washington State
16,132 posts, read 8,406,152 times
Reputation: 13733
Quote:
Originally Posted by Greysholic View Post
Like I said, USD has remained stable, it's all the other currencies that have gotten weaker. The economies that are heavily dependent on natural resources have been hit the most due to the plummet of the oil prices. Russia, Norway, Canada, Australia and literally all countries with oil (Gulf States and Azerbaijan) all belong to that group. Euro has gotten weaker because the financial crisis hit them hard and GBP keeps falling because they were stupid enough to vote for Brexit AND haven't come up with any plan for March.

So yeah, USD hasn't gotten stronger, it's the other currencies that have devalued. For the few other currencies that have remained stable for the past decade (like the 3 I mentioned), USD exchange rate hasn't soared.
Well the USD has gotten stronger in every one of the 20+ nations that I've worked and traveled in over the last 12 years and none have gone the other way and the result for me is that I can travel in most of the world and do whatever I want and it will be cheap for me because their currencies have fallen relative to the USD...but I'm not holding my breath that will continue.

The overarching result is that average USA wealth has jumped dramatically subsequent to the GFC.
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