What the F*ck !!!!!

This is the GREATEST EVER GLOBAL FINANCIAL CRISIS in history (new chapter in the textbook)….. even worse than GREAT DEPRESSION….
Keen to see the property price being tested again….. as there is no historical data to compare

Jimmy,

I believe that our current residential property price has been inflated by 10-20%… By only lending up to 80%, it will make the price become more sensible.

Just look at commerical properties…. the value has been slashed by up to 80%. I am saying that some of them are really blue chips commercial property (i.e. Pitt street in Sydney or Bourke St in Melbourne). So why the residential property can't be devalued by 10-20%… that is what my understand about 'stabilise the price'

Cheers

I can do it myself without paying 3%

……. missed the boat…as the fixed rates have been increased over the last few days….

What's wrong with the exit fee… it is the borrower FAULT… who is crazy fixing it at 8 or 9%?
What happened if you opened the term deposit last year with interest 8.5% and the bank(s)
decided to lower it to 3%… I am sure that the customer will challenge it on the Supreme Court…

Don't speak non sense

BTW, CBA just increased the fixed rates by up to .44%… time to fix homeloan???

Might be going up next year 2010…

Hei rudra

Let me tell you..
 …" They haven't put me under a sea of debt, and costing $200 pw"….

You are losing at least A$10k /year… lucky if you are on the top marginal rate earning 180k plus

You have to pray  that your  property will have massive capital gain in the next few years (i.e.. against the odds)..

Well… the worst scenario is… property price will drop by 20% (realistic) and 10k/year .. that is called the "PREMIUM INVESTMENT"

A lot of people will buy using FHOG Boost money and then live there for 6 months. After that, most of people will rent it out…. (i.e. just to get freebies).. will see how the rental market and property value stack up in 2010

Hei rudra
Gud luck! Hope that you made a wise decision….

Premium finance charges premium fee A$ 5000…. and Storm financial did the same… i.e. 9% management fee ( Other managed funds charge 1% )

Premim finance sells the IP to unsuspecting buyer…often with inflated price…. welll SF did the same and buble will burst… and you will find yourself in the negative equity

Premium finance often preaches…"property price will double in 7 years"… yes you're right !!! same as SF… share market will continue to rise and unlikely to drop by 50%… in fact IT HAPPENED… the worse in the last century..

I can go on and on on…….

Wish you good luck