good news, page-17

oh dear,
the money put up for a mortgage is on average, the same money they would expend on rent money....
so assuming most people either pay rent, or have a mortgage...what is the big deal...
last time I looked the average mortgage was below 250k's...at 6%, or equal to $15,000 in rent
so for most people, it is either one or the other, there is no additional cost, it is either rent or buy...

so lets move along, and look at the bigger picture

I note the margins loans, have fallen to their lowest amounts in years, they are no longer popular....

the argument that govnut handouts have ceased or will cease...is about to be changed.....

even swanny, living in his own universe will be worried by now....I doubt they will hand out another $1000 to buy cheap tv's from gerry harvey, but they will be looking nervously at the situation....

over here in lala land on the east coast, we dont have much going for us...retail industry is on its knees, the construction industy is in the same place, and the financial industry is about to have a hiccup....not much else left over here...

a boost to the housing industry, via construction, has a flow on affect to retail, for home style products, and a flow on to financial products....

news out today, Land tax in NSW has been increased, due to the increase in land values....note this is based on land value, not the building value...

the feds, if they are smart will do anything to bolster the taxes that the state govnuts bring in....cause it saves the feds from having to prop up the state finances....
The current govt has just about run out their credit card to the hilt, it was 238 billion before xmas, and has a limit of 250 billion...but no worries, they will finance the next wave of borrowing by issuing bonds, or simply print more money...

some of those miners, with great ideas, will find it difficult to find the funding in this current environment...plans will be put on hold....bank feasibility studies will remain in the too hard basket...

it was not only housing, that had good days, the miners had it rather too easy as well....

now it is all rather sobering, and back to the drawing boards for some

no offence, but I believe there is too much 'scaredy cat mentality' out there...people being scared of every little thing, bits of news, that the media harp on about everyday...to sell their papers....

time out, for contemplation, of a more sober society is what is required, and for some it will be forced upon them, rather than of their choosing

some of us have lived thru previous episodes of calamity, we knuckled down, accepted the temporary situation, and found other ways to survive, until it had passed....

it means changing plans, diversifying, adapting, and most of all surviving....
what on earth would the banks do, if there were no home loans to rely on ???
be careful of what you wish for....there are usually far more ramifications, that you were not aware of, in your haste for the dream of a life...