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One third of Australians over 60 living below poverty line: Global AgeWatch Index
Topic Started: 9 Sep 2015, 04:16 PM (5,190 Views)
peter fraser
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ThePauk
14 Sep 2015, 09:59 AM
Oh, I see, you now speak for everyone. What a narcissistic prick you are Peter.

I note you totally ignore what I wrote as it does not fit into your bullshit framework of what you think.

So be it...
But everyone totally ignores what you post.
Any expressed market opinion is my own and is not to be taken as financial advice
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ThePauk
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peter fraser
14 Sep 2015, 01:47 PM
But everyone totally ignores what you post.
Troll....
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zaph
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ThePauk
14 Sep 2015, 02:04 PM
Troll....
Troll...
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ThePauk
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zaph
14 Sep 2015, 02:06 PM
Troll...
lol, Zaph, you were supposed to be one those those who totally ignored my posts? What happened?
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peter fraser
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ThePauk
14 Sep 2015, 02:11 PM
lol, Zaph, you were supposed to be one those those who totally ignored my posts? What happened?
So many trolls and not enough recipes.

Roast Troll,
Troll soup,
Baked troll,
Curried Troll,
Sweet and sour troll,
Trolls in batter,
Deep fried troll,
etc
Any expressed market opinion is my own and is not to be taken as financial advice
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zaph
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ThePauk
14 Sep 2015, 02:11 PM
lol, Zaph, you were supposed to be one those those who totally ignored my posts? What happened?
Was I?

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ThePauk
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zaph
14 Sep 2015, 04:00 PM
Was I?
Yes, Sir Peter stated that 'everyone' totally ignores my posts. Were you not paying attention?
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herbie
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peter fraser
13 Sep 2015, 10:47 PM
Yes you have been consistent - you want to punish people who buy and pay off a house during their working life, and reward those who don't bother to do that or help themselves in any way.

If there ever was a government consisting of people who also share your punitive draconian thoughts and goals and were silly enough to introduce legislation which does that, you would cost the government untold billions as people directed their savings into less conspicuous assets such as cash, or they wouldn't bother to save at all and they would spend every dollar they received.
The Grattan Institute want to compel people to reverse mortgage their home to pay their own pension as well as that of the non-homeowners if the joint is valued at over $200K.

And some chicky babe from some other mob reckoned Well, we might let them keep something - But haven't decided how much - If anything.

But anyway Peter, do you reckon the banks would be seriously interested in funding reverse mortgages on that sort of scale?

Maybe I'm off on the wrong track here, but if the Grattan Institute was to get its way, it sounds to me like home ownership would go from being something that's desirable in Joe Average's mind to something that's actually extremely undesirable.

With consequences like:

* The banks would struggle to flog traditional buyer type mortgages (which are very much their bread and butter), and

* The prices of traditional homes (pretty much any homes even actually) could very well fall.

With me asking myself in relation to the second point in particular, why exactly would the banks set themselves up to become the almost monopoly owners of an asset class where by their own actions, they'd effectively 'crashed' prices - Unless maybe they had some cunning long term plan to drive rents sky high on the asset class that they did see themselves becoming pretty much the monopoly owners of? And thereby effectively manipulate the prices back up anyway???

And why would govs want to see falling home prices either - With it being very much something they (and their central banks) seem very determined to 'mitigate against'.

Dunno - It's all just a bit hard for my head - Definitely haven't come to grips with it at all.

Edited by herbie, 14 Sep 2015, 07:46 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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ThePauk
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Herbs
Well aware of the Grattan number and I think, for the reasons you outlined it will be more like $1 million, as much easier to 'sell' to the public and will still encourage home ownership.
I am sure the voters understand the growing fiscal costs of the ageing of this nation and I am also sure that they will vote to make those who can provide for themselves to do so.

As I pointed out to Mr Broker, a $1.25 million home would mean $250k inc into the asset test and if they have no other assets, then ZERO CHANGE TO THEIR PENSION!

I also do not see a problem with slowly changing the public perception that huge mortgage debt is productive debt. It is not.
Edited by ThePauk, 14 Sep 2015, 08:13 PM.
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zaph
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ThePauk
14 Sep 2015, 04:03 PM
Yes, Sir Peter stated that 'everyone' totally ignores my posts. Were you not paying attention?
You've started to hurl veiled insults at almost everyone. You've lost control. Probably a symptom of your failure. One more and you join Blondie in the sisters of perpetual insults.
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