It looks like Canada is next and will Australia follow as another financial vacuum hits?
The federal government’s First Home Owners Grant and state governments’ ‘free stamp’ duty helped bolster the housing market in Australia; news stories via the main stream media are warning of rent increases, but where do they get the information?
I suspect they [...]
Entries Tagged as 'property'
America’s Sub-prime Mortgage Time Bomb Went Off
January 14th, 2010 · No Comments
Tags: australia · banks · housing · money · property
Bank Code – Screw the Customers (Clients as well as Investors)
January 30th, 2009 · No Comments
In Australia we have the UCCC (Uniform Consumer Credit Code), which was set in place (around 1998) to protect people – who suffered financial difficulties – from losing their home.
The UCCC simply meant that lenders have to extend the term of the loan, reduce repayments, suspended repayments for a set period or a combination of [...]
Tags: australia · banks · property
Post Christmas Sales, Empty Shops Growing Homeless
December 23rd, 2008 · No Comments
Reduced consumption of Australia’s resources sees the likes of high profile companies like Rio Tinto laying off workers as well as closing some mines down indefinitely.
This is just the main players, but what about the ripple effect … the suppliers of fuel, parts and most important to shop-keepers, labour; labour by workers who spend their [...]
Tags: australia · big picture · money · property
Property Prices Prepare to Plummet
October 27th, 2008 · No Comments
Sub-prime mortgages ripple effect has started and will continue to reverberate across the world and fittingly, where the whole thing started, in the ol USA, with almost 800,000 receiving at least one foreclosure-related notice from July through September, up 71 percent from a year earlier.
RealtyTrac expects more than a million bank-owned properties to have piled [...]
