check it out. If none of these pricks go to jail they and their criminal institutions will be punished by falling house prices. Finally !!

http://www.abc.net.au/news/2018-05-01/sydney-melbourne-housing-property-market-royal-commission/9713738


Quote:

The fallout from the banking royal commission and APRA's stricter lending policies will see Sydney and Melbourne markets hit hardest, according to property analytics firm CoreLogic. "Credit policies aren't likely to be relaxed," said CoreLogic's head of research Tim Lawless. "Borrowers who could have borrowed money for housing finance six months ago will find it more challenging, especially if they want interest-only loans, or are buying for investment purposes." He predicted that values will continue to fall slightly in Sydney and Melbourne, "where the strongest growth has been, and where investors have been most concentrated". First fall since 2012 In its April report, CoreLogic found that dwelling values across the combined capitals recorded an annual decline — down 0.3 per cent — for the first time since November 2012. Though on a monthly basis, the combined capitals had been falling for the last seven months. The biggest contributors to this decline were Sydney and Melbourne, falling 0.4 per cent each. On a quarterly basis, that's a 1.2 per cent decline for Sydney, and a 0.7 per cent drop for Melbourne. Sydney's median dwelling value is $875,816 — a figure which includes both houses and apartments. But the median house price remains well above $1 million. Melbourne's median property value is $720,433. Brisbane was the only other capital city to record a slight fall, down by 0.1 per cent.

Poor diddums

When I purchased a house it was near impossible to get a loan

You needed a sizable deposit
You needed a savings history
The bank worked out what you earned and if they thought you could pay it back in 25 years.
And there was an asett test before you could even think of a first home assistance from the grubberment.

The interesting thing was that we were $18.00 a month too high in income to be eligible for the first home assistance.

And we were $30.00 a month too low to borrow from the bank.

I don't know who got these grubberment assisted grants, my guess is grubberment employees and public servant only.

We only go over the line by saving a huge deposit, by working three jobs for two years and spending nothing.

Then we were hit by the wonderful 18% interest rate period.

That was tough,
Not like today.

I heard parts of Melbourne are down 5% since Xmas.

Valkie wrote on May 1^st, 2018 at 6:37pm:

Poor diddums When I purchased a house it was near impossible to get a loan You needed a sizable deposit You needed a savings history The bank worked out what you earned and if they thought you could pay it back in 25 years. And there was an asett test before you could even think of a first home assistance from the grubberment. The interesting thing was that we were $18.00 a month too high in income to be eligible for the first home assistance. And we were $30.00 a month too low to borrow from the bank. I don't know who got these grubberment assisted grants, my guess is grubberment employees and public servant only. We only go over the line by saving a huge deposit, by working three jobs for two years and spending nothing. Then we were hit by the wonderful 18% interest rate period. That was tough, Not like today.

The rest of the world is running the money printing machines overtime and lending it to stupid aussies to buy over priced property :(

The next thing that will happen is that all of the publicly owned assets will disappear into foreigner hands because of our massive debt obligations :(

Sir lastnail wrote on May 1^st, 2018 at 9:22pm:

Valkie wrote on May 1st, 2018 at 6:37pm: Poor diddums When I purchased a house it was near impossible to get a loan You needed a sizable deposit You needed a savings history The bank worked out what you earned and if they thought you could pay it back in 25 years. And there was an asett test before you could even think of a first home assistance from the grubberment. The interesting thing was that we were $18.00 a month too high in income to be eligible for the first home assistance. And we were $30.00 a month too low to borrow from the bank. I don't know who got these grubberment assisted grants, my guess is grubberment employees and public servant only. We only go over the line by saving a huge deposit, by working three jobs for two years and spending nothing. Then we were hit by the wonderful 18% interest rate period. That was tough, Not like today. The rest of the world is running the money printing machines overtime and lending it to stupid aussies to buy over priced property :( The next thing that will happen is that all of the publicly owned assets will disappear into foreigner hands because of our massive debt obligations :(

But remember the most important thing

Pollies and senior public servant will be OK regardless

That is the most important thing

Until the revolution, that is