Baronvonrort wrote on Feb 15
th, 2023 at 10:33pm:
Sophia wrote on Feb 15
th, 2023 at 10:17pm:
Lisa Jones wrote on Feb 15
th, 2023 at 9:52pm:
Sophia wrote on Feb 15
th, 2023 at 9:49pm:
Postmodern Trendoid III wrote on Feb 15
th, 2023 at 8:46pm:
Millionaire bank CEOs are our superiors.
Yep … I was listening to one that earns a million per annum talk tonight about how heavy hearted he was about struggling families with extra $1000 per month mortgage repayment.
I said to hubby….”heavy hearted? More like heavy wallet!”
How on earth can someone earning a million a year be empathetic with those that struggle with finances from day to day? I wish they would stop pretending!
These banks and their billions of $$$$ profit every year! And it’s increasing more so per annum!!
So their solution is… to expand the mortgage to 40 years so monthly payments are lower. 
I don’t believe you heard that figure correctly. Why? It’s just too ridiculous.
Yep. That’s what was mentioned. Both hubby and I were watching this finance thing with the RBA guy being grilled with questions…on our Melbourne tv tonight and that’s what we both heard and I read it also as I have closed captions/teletext on.
The nerve of the RBA saying banks haven’t been tough enough to bring down inflation!
Like as if it’s the fault of us mere peons… how about making council rates, insurance, fines, registrations etc lower?
They’re the ones causing inflation with escalating costs.
Why so untouchable?
They’re cruising for a bruising and they will cause a recession… not us the people.
The RBA responds to failures of politicians who ruin our economy.
If our politicians did a good job with economic policy there would be no rise with interest rates.
It's going to get a lot worse.
I’m still trying to get over the notion of a 40 year mortgage 😳
It’s absolutely bizarre.
I mean our kids are paying Income Tax plus Uni fees off after they finish Uni. Those Uni fees are huge nowadays and that is what is holding back our good and smart kids (who have done the right thing and busted their guts to study hard and get into and through Uni) from getting that deposit to buy a home.
Let me see if I understand this correctly :
Our kids are educated from age 4 to 18. That covers pre school, infants, primary & high school. They can’t get a full time job.
From age 18 to age 22/23 they go through tertiary study. Those 4 to 5 years of Uni really mean they can’t get a full time job.
Once they graduate say at age 23/24 they’re stuck with a huge Uni debt + income tax for decades.
Now you’re telling me that the proposed “new normal“ is for our kids to get into a 40 year mortgage noose.
Well for that to happen our kids must first find a full time job (you’re not gonna get a mortgage otherwise). And they will need 25% (deposit/stamp duty/legal fees/due diligence etc).
To get to this position while paying income tax AND a hefty Uni debt back they MIGHT get there at age 30. Even then they will need help from Mum n Dad.
Now add 40 to 30 and they get to pay off their mortgage at age 70.
And that’s just for a bloody unit in Sydney!
Units in Sydney (average 2 bedder in an average area) are around 800K now. These units are a high risk venture irrespective of where they’re located because you are only buying AIR SPACE! You don’t own the walls or floors or ground.
So my question is this : who’s educated kids with good jobs will be able to afford an actual home ie an average house sitting on land in an average area of Sydney. Note : That figure right now is around $2 million.
Answer?
1. The rich
2. The foreign rich
Can someone remind me again which Federal political party is in office right now?i
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