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Sydney's average mortgage $600k; Up 33% in four years!!
Topic Started: 11 Jan 2017, 05:34 PM (4,662 Views)
Trollie
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Chris
11 Jan 2017, 05:34 PM
http://www.theage.com.au/business/the-economy/sydneys-housing-affordability-problem--in-three-tweets-20170110-gtpagc.html

Here you ladies and gentleman this is sustainability at its best.

Borrowing is so regulated it allows this, it's ok though they are all tested at 7-8% above this so they still have $50k on average to go before the suburbanites are stressed aigh Pete?
Banking is regulated. APRA audited it last year.

Write them a ranting letter maybe they will give a f***?
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herbie
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Sounds ta me like there's bin some Sydneysiders ('n Melbournians even?) out there, wot's bin makin' some serious dosh! ... :)
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Chris
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herbie
11 Jan 2017, 08:02 PM
Sounds ta me like there's bin some Sydneysiders ('n Melbournians even?) out there, wot's bin makin' some serious dosh! ... :)
And some have been enslaved to the mercy of some serious debt laden dosh. What's your point?
Trollie
11 Jan 2017, 07:40 PM
Banking is regulated. APRA audited it last year.

Write them a ranting letter maybe they will give a f***?
And yet, based on the quote you provided, banks failed their stress test audit over 1,000's of customers when it came to those regulations.

Maybe legislation is required to ensure the regulatory tiger gets some teeth.
Edited by Chris, 11 Jan 2017, 08:41 PM.
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Khaderbhai
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Wealthy Suburbanite

Chris
11 Jan 2017, 05:52 PM
You are assuming that interest is now waived by the banks? In the very short term that $200k would not cover your costs
Interest is paid by the tenants.
Terry
11 Jan 2017, 07:32 PM
Well all we know is that it is an aggregate of mortgage loans from a consortium of mortgage brokers (heavens forbid). Definitely not for the prying eyes of the likes of people like me
So you don't really understand this data Roddy. What a surprise.
Edited by Khaderbhai, 11 Jan 2017, 08:47 PM.
Banks can't repossess your home simply because the market value falls. Australia's Consumer Credit Code says consumers aren't liable for things ordinarily outside their control and can't be held to obligations that could only be met by selling their home. Click for details.

"The truth is that there are no good men, or bad men. It is the deeds that have goodness or badness in them. There are good deeds, and bad deeds. Men are just men."
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herbie
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Khaderbhai
11 Jan 2017, 08:45 PM
Interest is paid by the tenants.
Wot interest? If ya debt free ... As I am. ('Course I'm only in SEQ - But that's another story.)
Edited by herbie, 11 Jan 2017, 08:52 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Ex BP Golly
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herbie
11 Jan 2017, 08:51 PM
Wot interest? If ya debt free ... As I am. ('Course I'm only in SEQ - But that's another story.)
Clearly you aren't aspirational enough.
Thats un-Australian dude.

Fair suck of the sav- Don't you believe in the magic pudding?
Edited by Ex BP Golly, 11 Jan 2017, 11:18 PM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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herbie
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Ex BP Golly
11 Jan 2017, 09:46 PM
Clearly you aren't aspirational enough.
Thats un-Australian dude.

Far suck of the sac- Don't you believe in the magic pudding?
Not much question I'd have made rather more money without workin' for it I reckon, if I'd taken on rather more debt over me workin' life.

Oh well, such woz ('n remains) tha lot of this debt averse child and grandchild, of workin' class Great Depression survivors I 'spose ... :)

Mind you, bein' born a Sydneysider or Melbournian, just might'n a hurt neither? ... Lucky cnts ... LOL!
Edited by herbie, 11 Jan 2017, 10:16 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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A Lurker
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Sydney median house price has increased more than 33% over the last 5 years so as the average mortgage has only increased by 33% the aggregate LVR has decreased over that period and people are on the whole borrowing less as a proportion of the purchase price.
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Chris
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Khaderbhai
11 Jan 2017, 08:45 PM
Interest is paid by the tenants.

So you openly admit that the majority of investors buy IP on interest only loans?!

Ooooooh snap, the biggest own goal ever bwahahahahaha
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silverman47
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Chris
11 Jan 2017, 10:48 PM
So you openly admit that the majority of investors buy IP on interest only loans?!

Ooooooh snap, the biggest own goal ever bwahahahahaha
Your a bit of a dope mate.

Tennants end up paying all expenses.

Our debts on investment properties, even equity hardly matters at the end of the day, this is the main thing you people fail to understand. We dont really care what the value does at the end of the day on a tenanted property. It goes up, down, sideways doesnt matter. Sure its nice if it goes up, but if it doesnt, we just hold it longer. You guys are paying for it.
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