"I seem to recall the banks not passing on the last official cut in interest rates..."
Exactly my point - you were arguing that property prices rises were the banks fault for lowering rates....
"Of course Australian Banks got caught up in dodgy lending practices. There are some out there still offering 100% house price loans, aren't there?"
Are there? I just did a quick search and couldn't find any of the big 4 offering 100% LVR. Please share.
Also 100% loans are not a dodgy practice on their own. If it was to a first home buyer on $50k salary - yes.
But usually that sort of loan is for investors with equity in other properties and suitable cash flow.
Very rare for someone with low salary and no assets to qualify for a 100% LVR loan with the big four.
I wasn't referring to you specifically. But my point stands. Maybe it is just modern media, internet and social media but it seems there are a lot more complainers these days. Just get on with it, make your own decisions and live with them.
If living in Australia is so bad people will leave. But it seems to me a lot of people still consider it one of the best places in the world to live. So suck it up, work hard, invest smart and prosper.
And you know what, most Aussies are.
I read recently that Gen Y are very active share market investors, more so than other generations at that age.
They are also rent-vesting into property.
Most of them are finding ways around high property prices. Some won't but that has always been the way.
