digiculturetravelexpatasia

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photo by Light Night

Last year we visited Auckland for 2 months to get an idea of what it would be like to live there. Both my wife and I have family in New Zealand and we’re giving it serious consideration. During our ‘07 holiday visit I checked in with my brother in law about the local real estate market. He’s invested in several properties in the Auckland area, has done real estate training and is a sharp guy. I asked him if he felt home prices in New Zealand would be dropping like they were back in the US. His reply was that the NZ real estate market was well insulated from the US economy and that he felt prices would continue to rise. I’m a guest in his home, his country.. who am I to argue?

I’m no expert but I saw this coming 2 years ago from the growing stream of news on blogs and on social bookmarking sites like Reddit / Digg. That’s knowledge of the crowd for you. No one in social media is surprised by the financial collapse. What happens in banking in one country affects banks and overseas. These are international companies. When Lehman Brothers fails in New York, it also fails in London, Hong Kong and Auckland.

While taking public transportation around Auckland I’d talk to the bus drivers about areas they considered to be hot markets for buying homes. Who better really? One of the bus drivers told me she and her husband were getting ready to buy a home. I told her about the coming sub-prime fallout and that she might want to wait a year. I might be getting a warm NZ hug the next time I ride her bus.

With huge projects failing and housing markets reaching 26 year lows, the NZ economy is in recession.

New Zealand is a fantastic country and has excellent investment value. Prices will come back eventually and our long term plans still include NZ. Especially if Obama should lose this election - NZ here we come! Recession or not.

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mashup by hindenbush

The Saudis have long memories and recall how high prices can cut into consumption; it happened in the 1980s and it’s happening again now. Any threat to oil’s leading role as a source of energy is a big worry for a country that sits on reserves of some 260 billion barrels. “We are concerned about the permanent destruction of demand,” says a senior Saudi official. “Those who buy hybrid vehicles are not going back to SUVs.”

via Businessweek

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photo by Steve Brandon

This makes sense. Why not fire up the notebook instead of gassing up the car for a trip to the mini mall?

Research firm eMarketer has some good news for online retailers: high gas prices are fueling more Web shopping. In a July 25 report senior analyst Jeffrey Grau points to several consumer polls showing more shoppers are opting to spend online and save at the pump.

In a June survey, Nielsen found that 11% of US consumers are shopping more online as the result of gas prices. The poll mirrors reports of declining foot traffic at retail stores. “For the first time, I am seeing consumer surveys in which saving money on gas prices is actually a reason given for moving shopping from stores to the Internet,” says Grau.

The article goes on to say that the hit fuel prices are putting on the economy is doing more harm than good to online retailers. I’d venture that as the economy gets better many of the shoppers might stick to buying online if they have a good experiences.

via BusinessWeek

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photo by wizardofthefiretopmountain

I’m of the opinion that next (or two) year will be a better to buy. This banking mess is just getting started.

Tom Vanderwell @ Infectious Greed posts on 7 important things to consider when buying a home now.

For condensed reading.

1. 6 months ago is ancient history.
2. Don’t worry so much about what you paid for your house.
   
3. Now is not the time for do-it-yourselfers.
   
4. Any interest rate that starts with a 6 is a good number.
   
5. There is a Tangible Difference in working with a true mortgage professional.
   
6. Don’t buy a house today if you aren’t going to stay there at least 7 years.
   
7. It’s a really is a good time to buy a house.

via Infectious Greed

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I came across this at The Future of Media. Apparently elevated fuel prices have sent more people into the carpool lane. That’s a good thing. I also notice that portion sizes have reduced here in Malaysian food stalls as well. Maybe the increased fuel costs are good for the environment and our health?

PickupPal is a global service allowing passengers and drivers to choose one another based on user profiles and feedback ratings from previous trips.

Carpool, a facebook application created by the carpool community Zimride, allows you to find friends going in the same direction.

NuRide offers rewards to carpoolers from local and national sponsors hoping to generate reductions in driving and emissions.

GoLoco vows to evolve your social community into your very own public transportation network by putting your cars, friends, colleagues trips, and expenses together in one place.

Erideshare.com is a popular site with a large user base currently showing close to 18,000,000 local commuter listings and over 6,000 cross country listings.

photo by joeventures

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Tech-related jobs figure prominently on Jobfox’s list of 20 “recession-proof” occupations. Among the most sought-after positions are software developer, which ranked No. 2; system administrator, who manages increasingly complex corporate networks, at No. 6; and quality-assurance tester, who designs automated processes for testing products, at No. 12. Technology executive, particularly chief technology officer, was ranked No. 16.

via BusinessWeek

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