So, back in Melbourne......

It's been almost 6 weeks since we got back from Europe. Man, time has flown hasn't it? So, now we're heading into the Christmas season already. And what of this whole global financial crisis that is supposedly occurring? Well, from where I'm sitting, I've noticed the phone stop ringing a bit, especially since I got back. What I do is primarily linked into the start of big budget residential developments across central Melbourne. Luckily, we have a pretty good working relationship with a few of them and I asked them how the current financial situation is affecting them. Well, not much apparently, well, not in the strict sense of the word. It so happens that they're going to sit on their hands until the new year before starting new projects. They're still able to get funding, they're still quite solvent, so I think you'll see things start to turn in the new year. I guess we're lucky here in that our housing market is not artificially inflated by too much, supply and demand you see. There's not much vacant housing here, and with 1,500 new people arriving in Melbourne per week, these people need to live somewhere. I'm not a economic genius, but it makes sense yes? And Australia is still exporting hugs amounts of natural resources, be it food or minerals, so I don't think we're doing too badly, even in this day and age, I guess primary industries are still the bedrock of any good economy. I hold grave fears for net importers of foods though, such as many European countries. What if we closed off food exports to look after ourselves first? Wow, now that would make us pretty poor, but on the other hand, at least we wouldn't starve.