- Lot of hubris amongst major banks, management - ASIC chair - Loan fraud "a major problem" in Australia mortgage market - "I will be moving on somewhere else" - ASIC chair
So after more than 6 and a half yrs in tha job, Greg Medcraft reckons he's a screw up? - Fascinating ... LOL
I can only hopes we weren't paying him very much - LOL LOL LOL
A Professional Demographer to an amateur demographer:"negative natural increase will never outweigh the positive net migration"
To clear up any confusion I was stating Rufus was bring deceptive by presenting the chart as an indication our bank assets are sound solely based on non-performing assets after the last recession leaving out how they performed just prior. This data is extremely relevant as we haven't seen a real bone crunching recession since 1991, I'd argue that banks non-performers would be pretty low leading into that recession and didn't race their ugly head until the economy took a dive.
He was being deliberately deceptive by presenting this chart.
IR at 15% is nothing when your home costs $100k but not having a job would certainly put a dampener on it.
Ding forget those, which was the vast majority, who kept their jobs kept their very cheap homes that went on to now become worth a million plus so no ones crying tears for the very temporary period where they paid 15-17% on their tiny mortgages of 3-4 times their income.
Evidence from the RBA showing FHB loans since the GFC have been paying down loans quickly.
So much for the liar loans.
How does this effect the fact people have criminally defrauded their banks, obtaining a benefit by deception by misrepresenting the truth in the mortgage applications?
WHAT WOULD EDDIE DO? MAAAATE! Share a cot with Milton?
How does this effect the fact people have criminally defrauded their banks, obtaining a benefit by deception by misrepresenting the truth in the mortgage applications?
It doesn't but it also ignores the massive push for households, including FHB to access equity as housing boomed over 2001-2007. You see this is about the time the massive CBA 'equity mate' campaign ran, this campaign was dumped like a steaming turd when the GFC hit.
How does this effect the fact people have criminally defrauded their banks, obtaining a benefit by deception by misrepresenting the truth in the mortgage applications?
Yep, we should throw them all in jail, how dare they over estimate the value of their Nissan ute and stamp collection.
Take risks - if you win you will become wealthy, if you lose you will become wise
Yep, we should throw them all in jail, how dare they over estimate the value of their Nissan ute and stamp collection.
they commit fraud (and it isn't simply overestimating the value of their collection of vintage Fantastic Furniture) and should be held accountable, like any petty criminal.
they commit fraud (and it isn't simply overestimating the value of their collection of vintage Fantastic Furniture) and should be held accountable, like any petty criminal.
If we locked everyone up for BS there would be no one left to turn the key.
Take risks - if you win you will become wealthy, if you lose you will become wise
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy