awe Warnie you hassling folk for having an opinion then you tell us whats gunna happen cause your the one thats knows
we are wantabees but Warnies got the good oil
why ? cause he spoke to the bank and they are willing to lend 90% , they must know :) if the bank tells me something then it must be true
mate your a regular Einstein :)
isnt it "amazing" how some folks tell you the prices rise forever its even more "amazing" that they can tell you this cause they rang the bank today and they know best :)
I'll give you the real drum Warnie Ive been in banking since 1976 Ive seen all the credit cycles since then, Ive probably approved 10-20,000 loans personally
no if you ring em they arent going to tell you they have different LVRs for different suburbs, you were expecting sir we are only lending 50% on Bidwell and 65% on Manly :)
In declining markets the credit management policies focus on valuation , income, sustainability of employment, etc etc managers start changing the credit approval guidelines centrally, if ANZ starts experiencing a spike in foreclosures in a particular suburb they tighten that suburbs guidelines.
If you really think the mortgage world works the way you've just proposed I reckon you should back away from the computer and go have a good think :)
