There has been a 27% increase in the number of expatriates returing back to Australia. This will be a global phenomenon because of the loss of high-paid jobs in the UK, USA and Japan. The financial meltdown is likely to see a plethora of new job entrants in industries like finance, programming in particular, particularly in countries like Australia, NZ and the Philippines.
They are not however leaving their host countries at a bad time necessarily. The crisis is going to get worse on the job front so I would expect that these people might be the lucky ones. The good news is that they will be returning to weaker property markets. If they are cashed up, they can enter the foreclosed property market with some zeal.
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Andrew Sheldon www.sheldonthinks.com
'Buying Philippines Property – Download a free sample chapter!
The Philippines property market is positioned to generate the strongest property price increases over the next 10 year thanks to ongoing economic and administrative reforms by the Arroyo government. The ASEAN countries have yet to exhibit the price gains of Western markets, which is just another sign that this super cycle is far from over. The current credit crunch will provide a great opportunity to profit from property foreclosures.
Monday, September 29, 2008
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