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Exceller

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27/04/19

10:41

Post #: 38286104
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Originally posted by Pinginhard: ↑

Let me rephrase - you're right I worded that horribly. The housing crisis was created by credit availability and banks lending to the tits (the main reason in my eyes) - political parties are somewhat to blame for this as they should've stopped this a long time ago, but they didn't - silly statement by me to make. What I should've said is "Anybody that believes a political party is SOLELY to blame for the housing crisis..." this is the way things are panning out imo. People look for people in public power that they can throw their boot at and call a demon... when in actual fact its the public (and private) banks that have done a majority of the damage.

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I know! Interest only loans still available years after the sub prime mortgage fiasco brought the world to a halt. Then the pissweak banking royal commission.

I feel there is much pain to come for the housing sector, the economy and especially, many with unmanageable mortgages. The bottom of the interest rate cycle can't last forever.
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