AuCu, its all relative, 13% on what size mortgage from the bank? that high sounds 80's, so maybe 200k?
So if its say a fixed loan whats that 26000 pa?
So banks are what 5.8% now, say based on median price of what 450k is 26100.
Thats PA right? ($26000)?
Are we any better off
My brain says NO, banks sucking up similar profits.
People have been taken and there is no greater fool they seem to be running out.
So what happens if it goes to maybe 9% on 450k, shudder to think what I'm paying to rent from the bank anyway...
No wonder the banks are generating in excess 20bn per year.
Nothing add's up to me anymore its all high flow news/media generated and a lot of noise in all markets everywhere period.
Also my post was sarcastic but thanks for replying.
There will be high % falls; these will be generated of a 5-10 year period i think starting from 2010.
The % is anyone's guess and i would (and everyone else) to see a lot more "noise" generated from all media outlets.
Think about it; 5-10 yrs no % growth like you've all got what 7 -10%.. great enjoy nothing continues forever and any inflation that we might be getting...
Rates going down will not produce any boom, its an indicator that the Australian economy isn't strong, the dollar needs to come down to bring in the other industries while mining falls off for the 5 or so maybe years. - Manufacturing and tourism for starters.
I/O prices started boom in 2007, its only 2012 and what everyone thinks this lasts forever?
Anyone who thinks any market is a free market these days is kidding themselves and the top 2% of the people will take it from you. (excluding govt).
If RBA is 1% the big 4 will be 4% still sucking money.
We are all on the cusp of the second phase of the 20 year cycle inside an 80 year cycle which is the crisis period.
Be careful with anything i think, nothing will come easy for 5-10yrs, Head down Arse up and work i say.
Also, the only other country we can really be considered similar too is Canada, resource based, leveraged to china, and I've seen some bad figures coming from there in last few months, take a look.
Passive, "Our banks are strong, no massive sub prime here, no securitization of debt as in US or the UK, our market has held up and no need for the rba to buy 40billion US mortgages monthly because IT IS different here and enough time has elapsed to prove that."
Prove it with out stupid links to point less over analyses articles that i could write.
Gez, even the fed au gov spent billions on buying those securities here in Australia - do some research passive.
Your pointless posts along with some others are becoming not even worth reading.
You can't no one can unless you work in a small area, or be in the top 1%.
