Quote:
Originally Posted by Polyal
This quote sums up Australia's issues for me, housing has been used as a get rich quick scheme and while I appreciate its an investment opportunity like everything else the issue with that is its a basic necessity that many are now struggling with.
Its the soul and essence of a solid family and we have f'd with it.
Imagine if all those investors sunk their money into shares, business idea's etc..as a country we would be further advanced.
But its ok, middle class people with no cash flow have 3 housing being negatively geared...
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I often have this discussion at work and I'm not looking to buy an investment property ever and people think I'm nuts.
I'm just not interested in bricks and mortar unless it is a home. I'm lucky that I have been able to buy my own.
As far as I'm concerned I think any perk should only apply if it increases supply, not simply trading hands. With the perk should come risk also.
That's just what I think. I don't judge those who simply play the game. I don't hate the player.
Quote:
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Originally Posted by zilo
Some great news today, banks are extending the mortgage holiday for another 4 months....
It's a win, win, win, win (that's four wins for 4 banks)
So...what was a 30 year mortgage has already become a 35 year...
add another 4 months holiday and it becomes.....
A FORTY year mortgage....
wow...just wow...
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Not great but what is the alternative mate? About as altruistic as banks are likely to get.
A bunch of people foreclosing ain't going to do them any good either.