How's that retirement penson going?

[Tommy T.]

29 minutes ago, GeoffH said:

 

Platinum is down about 25% on recent figures and even gold is down, and that's normally the 'safe haven' although it does seem to have stabilized for now at the lower number.  Australian markets are down more than 30% since the COVID-19 crisis started having effect and the Aussie dollar is at it's lowest for a long long time.

 

For sure, the s**t has hit the fan... I am just financially and physically hunkered down and will wait all this insanity out...

[manofthecoldland]

2 hours ago, GeoffH said:

 

Platinum is down about 25% on recent figures and even gold is down, and that's normally the 'safe haven' although it does seem to have stabilized for now at the lower number.  Australian markets are down more than 30% since the COVID-19 crisis started having effect and the Aussie dollar is at it's lowest for a long long time.

 

My Aussie mates here were telling me about how much the forex drop with their fixed pensions has put them up against the wall this last year or two while trying to live on P 40K-60K/mo, budgets  So i pulled up a 2 yr. graph......... indeed, from the extreme high of P41 down to the present P31 (roughly), and now I understand their plight.  Belt tightening is a bitch.

[hk blues]

7 hours ago, manofthecoldland said:

My Aussie mates here were telling me about how much the forex drop with their fixed pensions has put them up against the wall this last year or two while trying to live on P 40K-60K/mo, budgets  So i pulled up a 2 yr. graph......... indeed, from the extreme high of P41 down to the present P31 (roughly), and now I understand their plight.  Belt tightening is a bitch.

Sterling is the same.  As is said to my wife at the weekend - if "we" (Royal We) lived a lavish lifestyle we would be able to  tighten pour belts easily, but many are already on a tight budget.  Again, we have to say that people have to more than conservative when thinking about moving here on a tight budget - there is no safety net.  

[OnMyWay]

6 hours ago, hk blues said:

Sterling is the same.  As is said to my wife at the weekend - if "we" (Royal We) lived a lavish lifestyle we would be able to  tighten pour belts easily, but many are already on a tight budget.  Again, we have to say that people have to more than conservative when thinking about moving here on a tight budget - there is no safety net.  

The dollar vs. peso jumped up a lot since Friday.  Now 51.62 on XE.  It had been in a 51.50-51.90 range for several months.

I have joined the "I can't look" crowd after yesterday rout.  I am down big time now, but know that I have the same number of shares paying the same dividend every month.  I hope.  It is possible that they could lower the dividend payments.

[earthdome]

I along with several other members of this forum are currently trying to sell homes they have in the USA. I was wondering how that is going for you now? I have a closing date for the sale of mine in 6 days and hope the buyer doesn't back out or try to negotiate an even lower price.

[OnMyWay]

2 minutes ago, earthdome said:

I along with several other members of this forum are currently trying to sell homes they have in the USA. I was wondering how that is going for you now? I have a closing date for the sale of mine in 6 days and hope the buyer doesn't back out or try to negotiate an even lower price.

My realtor was supposed to start showing the house on the 15th, with tenant in place.  However, the tenant reached out to me and asked not to show it due to the virus.  I understand and now we will not show it until after he moves the first week of April.  So it looks like I will be eating my mortgage payment for a while.

[Old55]

28 minutes ago, earthdome said:

I along with several other members of this forum are currently trying to sell homes they have in the USA. I was wondering how that is going for you now? I have a closing date for the sale of mine in 6 days and hope the buyer doesn't back out or try to negotiate an even lower price.

Wishing you the best.

[earthdome]

3 hours ago, OnMyWay said:

My realtor was supposed to start showing the house on the 15th, with tenant in place.  However, the tenant reached out to me and asked not to show it due to the virus.  I understand and now we will not show it until after he moves the first week of April.  So it looks like I will be eating my mortgage payment for a while.

Yes, that is very understandable. Has your realtor mentioned anything about how all the uncertainty in the markets has affected home sales? Home mortgage interest rates should be down even more, perhaps that offsets the market uncertainty.

[earthdome]

2 hours ago, Old55 said:

Wishing you the best.

Thanks, I will update when I know more.

[GeoffH]

The property market in Australia is very quiet right now but it isn't dropping in value, unlike the markets. 

I'm still not sure what's going to happen with the 'under offer' sale for my investment property here I will know later this week.

I'm reading that the banks are getting short of available money to lend which is a bit worrying.