Australian Politics Forum - Bank Profits Spike Amid Housing Crisis

whiteknight

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Bank Profits Spike Amid Housing Crisis
Today at 10:21am

Bank profits spike amid housing crisis Sad

2026-02-12
greens.org.au
In the midst of a housing crisis, the big banks’ obscene profits have been taken directly out of the pockets of mortgagees and renters.

The CBA has reported a mammoth $5.4b profit in its half-year results and the ANZ’s profit rose to $1.94b in its first quarter, as mortgages rise, with the average mortgage up $70,000 over the last 12 months.

The Greens say Labor cares more about the profits of the banks than it does about first-home buyers.

Lines attributable to Greens spokesperson for Finance, Housing and Homelessness Senator Barbara Pocock:

“In the midst of a housing crisis it’s clear who the winners are - the big banks and wealthy property hoarders.

“The big banks are profiting off rising house prices and increased mortgages, while homeowners struggle in the face of rising interest rates.

“Labor’s policies - such as the 5% deposit scheme and the $181b tax breaks for property hoarders, is adding fuel to the fire, driving up house prices while the banks take all the profit.

“It’s clear who the government is working for and it’s not renters or first-home buyers - it’s the banks and wealthy property investors.

“Without tackling the root causes of the housing crisis - which are the tax breaks for wealthy property hoarders and the lack of social and affordable housing - house prices will continue to spike, and banks will continue to rake in the profits.”

Lines attributable to Greens spokesperson for Economic Justice Senator Nick McKim:

“This is the story of the last few years in a nutshell - misery for mortgage holders and renters and obscene profits for the banking corporations.

“The banks have been let loose by a hands off government and an RBA that only has one lever to pull.

“Labor needs to get serious about tackling inflation as well as the corporate price gouging that is causing it.”

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Sir Grappler Truth Teller OAM

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Re: Bank Profits Spike Amid Housing Crisis
Reply #1 - Today at 11:22am

Of cours they do - that's the plan ... the whole game is rigged so that the banks can make huge profits off the backs of easy divorce, social disintegration, over-crowding of the market, lack of supply under the false paradigm of 'investors and developers and shareholders first' .... it's essentially a 'class war'.

It all is, in effect the world's gratest PONZI scheme to which all parties adhere for their own personal profit that they get by playing the game they set up.

Stopping mass immigration would crash the market .... that's why they all oppose it so much - and yet it is the only immediate answer to the growing catastrophe.

You can't keep the peasants under control if they are getting too much - and we all know that no matter what you do to them - only a minority will become criminals to try to secure their place in the sun amongst all the legalised criminals in the banks and governments etc.

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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thegreatdivide

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Re: Bank Profits Spike Amid Housing Crisis
Reply #2 - Today at 11:40am

Sir Grappler Truth Teller OAM wrote Today at 11:22am:

Of cours they do - that's the plan ... the whole game is rigged so that the banks can make huge profits off the backs of easy divorce, social disintegration, over-crowding of the market, lack of supply under the false paradigm of 'investors and developers and shareholders first' .... it's essentially a 'class war'.

It all is, in effect the world's gratest PONZI scheme to which all parties adhere for their own personal profit that they get by playing the game they set up.

Stopping mass immigration would crash the market .... that's why they all oppose it so much - and yet it is the only immediate answer to the growing catastrophe.

You can't keep the peasants under control if they are getting too much - and we all know that no matter what you do to them - only a minority will become criminals to try to secure their place in the sun amongst all the legalised criminals in the banks and governments etc.

Good post.

But are you aware you are agreeing Green's Senator Barbara Pocock?

....to wit: “This is the story of the last few years in a nutshell - misery for mortgage holders and renters and obscene profits for the banking corporations.

“The banks have been let loose by a hands off government and an RBA that only has one lever to pull.

“Labor needs to get serious about tackling inflation as well as the corporate price gouging that is causing it.”

.......

Problem is she herself is an ex-RBA employee who hasn't a clue how to tackle inflation: "corporate price gouging" is only one cause of inflation.

Meanwhile the new "very intelligent" leader of the Coalition (Angus Taylor) will be hammering endlessly from now on, that public spending is the cause of inflation - the Conservatives' one-pony trick.

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« Last Edit: Today at 11:48am by thegreatdivide »

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Leroy

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Re: Bank Profits Spike Amid Housing Crisis
Reply #3 - Today at 11:47am

thegreatdivide wrote Today at 11:40am:

Sir Grappler Truth Teller OAM wrote Today at 11:22am:

Of cours they do - that's the plan ... the whole game is rigged so that the banks can make huge profits off the backs of easy divorce, social disintegration, over-crowding of the market, lack of supply under the false paradigm of 'investors and developers and shareholders first' .... it's essentially a 'class war'.

It all is, in effect the world's gratest PONZI scheme to which all parties adhere for their own personal profit that they get by playing the game they set up.

Stopping mass immigration would crash the market .... that's why they all oppose it so much - and yet it is the only immediate answer to the growing catastrophe.

You can't keep the peasants under control if they are getting too much - and we all know that no matter what you do to them - only a minority will become criminals to try to secure their place in the sun amongst all the legalised criminals in the banks and governments etc.

Good post.

But are you aware you are agreeing Green's Senator Barbara Pocock?

....to wit: “This is the story of the last few years in a nutshell - misery for mortgage holders and renters and obscene profits for the banking corporations.

“The banks have been let loose by a hands off government and an RBA that only has one lever to pull.

“Labor needs to get serious about tackling inflation as well as the corporate price gouging that is causing it.”

.......

Problem is she herself is an ex-RBA employee who hasn't a clue how to tackle inflation.

Surely she's not suggesting [/i]public spending[/i] is the problem....as the new "very intelligent" leader of the Coalition (Angus Taylor) will be hammering endlessly from now on, the Conservatives' one-pony trick.

But the answer is obvious, when saving up to buy a home invest your money into bank shares instead of putting it into a bank account. Every single person in Australia can buy shares in the banks and share in the profits.

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thegreatdivide

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Re: Bank Profits Spike Amid Housing Crisis
Reply #4 - Today at 11:55am

Leroy wrote Today at 11:47am:

thegreatdivide wrote Today at 11:40am:

[quote author=The_Grappler link=1770942073/1#1 date=1770945755]Of cours they do - that's the plan ... the whole game is rigged so that the banks can make huge profits off the backs of easy divorce, social disintegration, over-crowding of the market, lack of supply under the false paradigm of 'investors and developers and shareholders first' .... it's essentially a 'class war'.

It all is, in effect the world's gratest PONZI scheme to which all parties adhere for their own personal profit that they get by playing the game they set up.

Stopping mass immigration would crash the market .... that's why they all oppose it so much - and yet it is the only immediate answer to the growing catastrophe.

You can't keep the peasants under control if they are getting too much - and we all know that no matter what you do to them - only a minority will become criminals to try to secure their place in the sun amongst all the legalised criminals in the banks and governments etc.

Good post.

But are you aware you are agreeing Green's Senator Barbara Pocock?

....to wit: “This is the story of the last few years in a nutshell - misery for mortgage holders and renters and obscene profits for the banking corporations.

“The banks have been let loose by a hands off government and an RBA that only has one lever to pull.

“Labor needs to get serious about tackling inflation as well as the corporate price gouging that is causing it.”

.......

Problem is she herself is an ex-RBA employee who hasn't a clue how to tackle inflation.

Surely she's not suggesting public spending is the problem....as the new "very intelligent" leader of the Coalition (Angus Taylor) will be hammering endlessly from now on, the Conservatives' one-pony trick.

Note my edit to my post.

ie Problem is she herself is an ex-RBA employee who hasn't a clue how to tackle inflation: "corporate price gouging" is only one cause of inflation.

Meanwhile the new "very intelligent" leader of the Coalition (Angus Taylor) will be hammering endlessly from now on, that public spending is the cause of inflation - the Conservatives' one-pony trick.

Quote:

But the answer is obvious,

No it's not , otherwise Oz wouldn't have a housing crisis.

Quote:

when saving up to buy a home invest your money into bank shares instead of putting it into a bank account. Every single person in Australia can buy shares in the banks and share in the profits.

Your error: many people can't even afford essential living costs, including rent and good food...

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Leroy

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Re: Bank Profits Spike Amid Housing Crisis
Reply #5 - Today at 1:10pm

thegreatdivide wrote Today at 11:55am:

Leroy wrote Today at 11:47am:

thegreatdivide wrote Today at 11:40am:

[quote author=The_Grappler link=1770942073/1#1 date=1770945755]Of cours they do - that's the plan ... the whole game is rigged so that the banks can make huge profits off the backs of easy divorce, social disintegration, over-crowding of the market, lack of supply under the false paradigm of 'investors and developers and shareholders first' .... it's essentially a 'class war'.

It all is, in effect the world's gratest PONZI scheme to which all parties adhere for their own personal profit that they get by playing the game they set up.

Stopping mass immigration would crash the market .... that's why they all oppose it so much - and yet it is the only immediate answer to the growing catastrophe.

You can't keep the peasants under control if they are getting too much - and we all know that no matter what you do to them - only a minority will become criminals to try to secure their place in the sun amongst all the legalised criminals in the banks and governments etc.

Good post.

But are you aware you are agreeing Green's Senator Barbara Pocock?

....to wit: “This is the story of the last few years in a nutshell - misery for mortgage holders and renters and obscene profits for the banking corporations.

“The banks have been let loose by a hands off government and an RBA that only has one lever to pull.

“Labor needs to get serious about tackling inflation as well as the corporate price gouging that is causing it.”

.......

Problem is she herself is an ex-RBA employee who hasn't a clue how to tackle inflation.

Surely she's not suggesting public spending is the problem....as the new "very intelligent" leader of the Coalition (Angus Taylor) will be hammering endlessly from now on, the Conservatives' one-pony trick.

Note my edit to my post.

ie Problem is she herself is an ex-RBA employee who hasn't a clue how to tackle inflation: "corporate price gouging" is only one cause of inflation.

Meanwhile the new "very intelligent" leader of the Coalition (Angus Taylor) will be hammering endlessly from now on, that public spending is the cause of inflation - the Conservatives' one-pony trick.

Quote:

But the answer is obvious,

No it's not , otherwise Oz wouldn't have a housing crisis.

Quote:

when saving up to buy a home invest your money into bank shares instead of putting it into a bank account. Every single person in Australia can buy shares in the banks and share in the profits.

Your error: many people can't even afford essential living costs, including rent and good food...

Actually your error, there is no reason why you can't buy bank shares instead of putting savings in banks.

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Fareed Zakaria defined the term as "hatred of President Trump so intense that it impairs people's judgment"

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thegreatdivide

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Re: Bank Profits Spike Amid Housing Crisis
Reply #6 - Today at 2:20pm

Leroy wrote Today at 1:10pm:

thegreatdivide wrote Today at 11:55am:

Leroy wrote Today at 11:47am:

thegreatdivide wrote Today at 11:40am:

[quote author=The_Grappler link=1770942073/1#1 date=1770945755]Of cours they do - that's the plan ... the whole game is rigged so that the banks can make huge profits off the backs of easy divorce, social disintegration, over-crowding of the market, lack of supply under the false paradigm of 'investors and developers and shareholders first' .... it's essentially a 'class war'.

It all is, in effect the world's gratest PONZI scheme to which all parties adhere for their own personal profit that they get by playing the game they set up.

Stopping mass immigration would crash the market .... that's why they all oppose it so much - and yet it is the only immediate answer to the growing catastrophe.

You can't keep the peasants under control if they are getting too much - and we all know that no matter what you do to them - only a minority will become criminals to try to secure their place in the sun amongst all the legalised criminals in the banks and governments etc.

Good post.

But are you aware you are agreeing Green's Senator Barbara Pocock?

....to wit: “This is the story of the last few years in a nutshell - misery for mortgage holders and renters and obscene profits for the banking corporations.

“The banks have been let loose by a hands off government and an RBA that only has one lever to pull.

“Labor needs to get serious about tackling inflation as well as the corporate price gouging that is causing it.”

.......

Problem is she herself is an ex-RBA employee who hasn't a clue how to tackle inflation.

Surely she's not suggesting public spending is the problem....as the new "very intelligent" leader of the Coalition (Angus Taylor) will be hammering endlessly from now on, the Conservatives' one-pony trick.

Note my edit to my post.

ie Problem is she herself is an ex-RBA employee who hasn't a clue how to tackle inflation: "corporate price gouging" is only one cause of inflation.

Meanwhile the new "very intelligent" leader of the Coalition (Angus Taylor) will be hammering endlessly from now on, that public spending is the cause of inflation - the Conservatives' one-pony trick.

Quote:

But the answer is obvious,

No it's not , otherwise Oz wouldn't have a housing crisis.

Quote:

when saving up to buy a home invest your money into bank shares instead of putting it into a bank account. Every single person in Australia can buy shares in the banks and share in the profits.

Your error: many people can't even afford essential living costs, including rent and good food...

Actually your error, there is no reason why you can't buy bank shares instead of putting savings in banks.

Again you repeat your error: you point to 'MY' case - or the case of any individual who is wealthy enough to buy bank shares - as being applicable to ALL individuals.

...a typical Conservative delusion.

Like Angus Taylor saying he will lift the standard of living of ALL Aussies, by reducing taxes and government spending, which is the '"trickle down" fallacy, namely:

The "trickle-down fallacy" refers to the widely criticized economic theory that reducing taxes on corporations and the wealthy stimulates economic growth that benefits all income levels. Critics argue this approach fails, widening income inequality and concentrating wealth at the top rather than creating promised widespread prosperity

..exactly what has been happening since the advent of the Thatcher/Friedman Neo-liberal ideology in the 1980s.

ie soaring inequality, with government withdrawal from public housing, amid a cost of living crisis.

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