I thought Australia does not allow personal bankruptcy when it...

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danginvestor

550 Posts.

11/07/17

22:00

Post #: 25804467
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Originally posted by zipperlip ↑

I don't think we were talking about investors with multiple properties leveraged to the back of beyond?

Not many of the 1 in 3 we started talking about would have multiple properties!

If anyone decided to go up to their neck in debt to buy more than one property when they're on $80k a year ( even double it if they have good partner) they should expect every bit of pain they can handle plus more!

The government isn't responsible for all the stupid people, it may seem like it at times but it isn't.

Do they help out big business, banks, insurance companies? Yes but the snowball effect on the economy if those parasites implode would be catastrophic.

Property developers and investors are a dime a dozen to the government so I wouldn't expect bailouts for them.

If the bank takes their property/s they can always file for bankruptcy, not a great place to be but you seem to be talking about the gamblers or the unfortunate who may get an illness?

The glass is half empty and the bottle has fallen off the table and smashed, it seems.

At least most of us here don't seem to have over committed to the bubble.

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I thought Australia does not allow personal bankruptcy when it come to mortgages? No?

Forget democracy and helping out the battlers, when politicians create policies that encourages stupid behaviour, they kind of are responsible for it. But then the buck don't stop there so you're right either way.
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I thought Australia does not allow personal bankruptcy when it...

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