Australian Politics Forum - Aussie housing debt reaches record 1.5 trillion !!

Bias_2012

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Re: Aussie housing debt reaches record 1.5 trillion !!
Reply #15 - Jan 10^th, 2016 at 10:52am

John Smith wrote on Jan 10^th, 2016 at 9:53am:

Bias_2012 wrote on Jan 10^th, 2016 at 9:24am:

Hardly means a thing John,

it does to the mortgagee. If RBA raises rates (unlikely for the next couple of years) I assume people will, where necessary, raise their repayments.

You're basically repeating what said, if the rate is raised, it means the economy would be improving and mortgagees' will feel more confident about paying off their debt

In the meantime however, things are not looking good for the economy so mortgagees' would be well advised to make sacrifices beyond what they already do, and voluntarily add extra cash to their payments to reduce their debt burden quicker while there's uncertainty about the economy and since the banks are reducing the amount of principal you can borrow, which is a sign of uncertainty in it self, even the banks are wary

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Redmond Neck

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Re: Aussie housing debt reaches record 1.5 trillion !!
Reply #16 - Jan 10^th, 2016 at 11:07am

As a typical parent I do have concerns for my children's mortgages.

They all borrow way too much to start off with massive houses with all the trimmings which is a recipe for disaster if rates rise to the amounts we had to endure.

We all were satisfied with a 12 sq house to start off with and upgraded if need be.

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BAN ALL THESE ABO SITES RECOGNITIONS.

ALL AUSTRALIA IS FOR ALL AUSTRALIANS!

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Sun Tzu

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Re: Aussie housing debt reaches record 1.5 trillion !!
Reply #17 - Jan 10^th, 2016 at 12:40pm

The_Barnacle wrote on Jan 10^th, 2016 at 10:17am:

John Smith wrote on Jan 10^th, 2016 at 8:09am:

not bad considering that covers about $6 trillion in property and the majority of mortgage repayments are an average of 2 years ahead on repayments

Sun Tzu wrote on Jan 10^th, 2016 at 9:59am:

Any debt is bad if the feces becomes airborne.

Owner occupied housing debt is one of the best and safest debts to have. It is also the best way to accumulate wealth over the long term.
Everyone has to live somewhere so you will always have an asset to support that debt.

Unless you are thinking of living on the streets the only way to avoid a housing debt is to pay rent. That rent will just be paying off someone else's mortgage and accumulating wealth for them.

I believe people who bought lots of Apple and Microsoft shares years ago instead of houses would disagree with you.

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Sir lastnail

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Re: Aussie housing debt reaches record 1.5 trillion !!
Reply #18 - Jan 10^th, 2016 at 1:07pm

The_Barnacle wrote on Jan 10^th, 2016 at 10:17am:

John Smith wrote on Jan 10^th, 2016 at 8:09am:

not bad considering that covers about $6 trillion in property and the majority of mortgage repayments are an average of 2 years ahead on repayments

Sun Tzu wrote on Jan 10^th, 2016 at 9:59am:

Any debt is bad if the feces becomes airborne.

Owner occupied housing debt is one of the best and safest debts to have. It is also the best way to accumulate wealth over the long term.
Everyone has to live somewhere so you will always have an asset to support that debt.

Unless you are thinking of living on the streets the only way to avoid a housing debt is to pay rent. That rent will just be paying off someone else's mortgage and accumulating wealth for them.

That's contrary to what happened in the GFC which was caused by and large by housing debt !! What happened to the wealth then ?

Also if you build a whole lot of houses in Zimbabwe will that create wealth for them ? I think not Wink

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Sir lastnail

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Re: Aussie housing debt reaches record 1.5 trillion !!
Reply #19 - Jan 10^th, 2016 at 1:14pm

John Smith wrote on Jan 10^th, 2016 at 8:09am:

not bad considering that covers about $6 trillion in property and the majority of mortgage repayments are an average of 2 years ahead on repayments

And who determines the net value of all of this property ? More fools who have to borrow yet more again to buy it !!

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Sun Tzu Gold Member Offline Australian Politics Posts: 1148 Gender:	Re: Aussie housing debt reaches record 1.5 trillion !! Reply #20 - Jan 10^th, 2016 at 1:28pm When the feces lands, you can't eat a house. Especially Longweekend58's asbestos infested shack.
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Sir lastnail Gold Member Offline Australian Politics Posts: 30094 Gender:	Re: Aussie housing debt reaches record 1.5 trillion !! Reply #21 - Jan 10^th, 2016 at 2:27pm Sun Tzu wrote on Jan 10^th, 2016 at 1:28pm: When the feces lands, you can't eat a house. Especially Longweekend58's asbestos infested shack. plus a dose of asbestosis and mesothelioma
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John Smith

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Re: Aussie housing debt reaches record 1.5 trillion !!
Reply #22 - Jan 10^th, 2016 at 2:56pm

Sir lastnail wrote on Jan 10^th, 2016 at 1:14pm:

John Smith wrote on Jan 10^th, 2016 at 8:09am:

not bad considering that covers about $6 trillion in property and the majority of mortgage repayments are an average of 2 years ahead on repayments

And who determines the net value of all of this property ? More fools who have to borrow yet more again to buy it !!

gee ..... lets leave it to you to determine shall we?

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I hope that bitch who was running their brothels for them gets raped with a cactus.

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John Smith

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Re: Aussie housing debt reaches record 1.5 trillion !!
Reply #23 - Jan 10^th, 2016 at 2:57pm

Sun Tzu wrote on Jan 10^th, 2016 at 12:40pm:

The_Barnacle wrote on Jan 10^th, 2016 at 10:17am:

John Smith wrote on Jan 10^th, 2016 at 8:09am:

not bad considering that covers about $6 trillion in property and the majority of mortgage repayments are an average of 2 years ahead on repayments

Sun Tzu wrote on Jan 10^th, 2016 at 9:59am:

Any debt is bad if the feces becomes airborne.

Owner occupied housing debt is one of the best and safest debts to have. It is also the best way to accumulate wealth over the long term.
Everyone has to live somewhere so you will always have an asset to support that debt.

Unless you are thinking of living on the streets the only way to avoid a housing debt is to pay rent. That rent will just be paying off someone else's mortgage and accumulating wealth for them.

I believe people who bought lots of Apple and Microsoft shares years ago instead of houses would disagree with you.

http://www.ozpolitic.com/forum/YaBB.pl?num=1452324734

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Sir lastnail

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Re: Aussie housing debt reaches record 1.5 trillion !!
Reply #24 - Jan 10^th, 2016 at 3:00pm

John Smith wrote on Jan 10^th, 2016 at 2:56pm:

Sir lastnail wrote on Jan 10^th, 2016 at 1:14pm:

John Smith wrote on Jan 10^th, 2016 at 8:09am:

not bad considering that covers about $6 trillion in property and the majority of mortgage repayments are an average of 2 years ahead on repayments

And who determines the net value of all of this property ? More fools who have to borrow yet more again to buy it !!

gee ..... lets leave it to you to determine shall we?

A house is only worth what the bigger fool is willing to pay for it and there are no shortage of fools in this country ! 500 mill for dicksmith shares Cheesy

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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John Smith Gold Member Offline Australian Politics Posts: 74862 Gender:	Re: Aussie housing debt reaches record 1.5 trillion !! Reply #25 - Jan 10^th, 2016 at 3:01pm Sir lastnail wrote on Jan 10^th, 2016 at 3:00pm: A house is only worth what the bigger fool is willing to pay for it and there are no shortage of fools in this country there you go, you've accidentally answered your own question and haven't even realised . Bravo
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Sir lastnail

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Re: Aussie housing debt reaches record 1.5 trillion !!
Reply #26 - Jan 10^th, 2016 at 3:03pm

John Smith wrote on Jan 10^th, 2016 at 3:01pm:

Sir lastnail wrote on Jan 10^th, 2016 at 3:00pm:

A house is only worth what the bigger fool is willing to pay for it and there are no shortage of fools in this country

there you go, you've accidentally answered your own question and haven't even realised . Bravo

WTF !! where's the question ?

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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John Smith

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Re: Aussie housing debt reaches record 1.5 trillion !!
Reply #27 - Jan 10^th, 2016 at 3:07pm

Sir lastnail wrote on Jan 10^th, 2016 at 3:03pm:

John Smith wrote on Jan 10^th, 2016 at 3:01pm:

Sir lastnail wrote on Jan 10^th, 2016 at 3:00pm:

A house is only worth what the bigger fool is willing to pay for it and there are no shortage of fools in this country

there you go, you've accidentally answered your own question and haven't even realised . Bravo

WTF !! where's the question ?

Sir lastnail wrote on Jan 10^th, 2016 at 3:00pm:

And who determines the net value of all of this property ?

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Sir lastnail

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Re: Aussie housing debt reaches record 1.5 trillion !!
Reply #28 - Jan 10^th, 2016 at 3:19pm

John Smith wrote on Jan 10^th, 2016 at 3:07pm:

Sir lastnail wrote on Jan 10^th, 2016 at 3:03pm:

John Smith wrote on Jan 10^th, 2016 at 3:01pm:

Sir lastnail wrote on Jan 10^th, 2016 at 3:00pm:

A house is only worth what the bigger fool is willing to pay for it and there are no shortage of fools in this country

there you go, you've accidentally answered your own question and haven't even realised . Bravo

WTF !! where's the question ?

Sir lastnail wrote on Jan 10^th, 2016 at 3:00pm:

And who determines the net value of all of this property ?

so you agree that fools determine the value as well as the debt levels used to pay for it Cheesy

LOL

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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John Smith

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Re: Aussie housing debt reaches record 1.5 trillion !!
Reply #29 - Jan 11^th, 2016 at 8:18am

Sir lastnail wrote on Jan 10^th, 2016 at 3:19pm:

John Smith wrote on Jan 10^th, 2016 at 3:07pm:

Sir lastnail wrote on Jan 10^th, 2016 at 3:03pm:

John Smith wrote on Jan 10^th, 2016 at 3:01pm:

Sir lastnail wrote on Jan 10^th, 2016 at 3:00pm:

A house is only worth what the bigger fool is willing to pay for it and there are no shortage of fools in this country

there you go, you've accidentally answered your own question and haven't even realised . Bravo

WTF !! where's the question ?

Sir lastnail wrote on Jan 10^th, 2016 at 3:00pm:

And who determines the net value of all of this property ?

so you agree that fools determine the value as well as the debt levels used to pay for it Cheesy

LOL

you can call it whatever you like ..... it still won't help you!

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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