Australian (ASX) Stock Market Forum

The future of Australian property prices

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trainspotter said:
Very peculiar for ANZ to offer 95% LVR for an IP ?????? Never heard of it before. Exceptional circumstances it must have been.

ANZ has lifted its LVR to 95% for its existing customers who have a strong credit history in an attempt to claw back some of the market share it lost to CBA and Westpac last year. (PPOR only)

“We have a strong risk profile in our mortgage portfolio, having chosen to sit out much of the first-home buyers' market in 2009,” a spokesperson to Broker News.

ANZ was the first Australian bank to tighten credit policies in response to the GFC, and has maintained the most conservative position on LVRs now for 16 months.

“With the improved economic outlook, we have taken a decision allow mortgage lending up to 95% LVR for some existing customers where they have a strong credit history,” the spokesperson said. “All applications that are above 90% LVR will require a full valuation.”

LMI is included in the 95% LVR cap and the spokesperson said the bank is conscious of loan serviceability in an environment of rising interest rates. The bank uses an interest sensitivity buffer and has also recently raised its default living expenses in the credit assessment process.

http://www.brokernews.com.au/news/anz-lifts-lvr-to-95/41346
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Hmm thats quite interesting. I certainly am not an existing customer, except for the fact that i have all my accounts and credit cards with them for the past 3 years - is that what they mean about existing customers?
 
KurwaJegoMac said:
Hmm thats quite interesting. I certainly am not an existing customer, except for the fact that i have all my accounts and credit cards with them for the past 3 years - is that what they mean about existing customers?
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Would not cut it from a brokers POV. 95% LVR IP and ANZ does not compute ... *fizzle* .... PPOR would stack up from the details you have told me. Possible. LMI would scrutinize within an nth of your life. Maybe you got them at a weak moment?? ;)
 
Commitment phobia at it's best. I have tried the "block" and I like it.
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There is not much else to be said, I unlike others like to think big and ahead, some like to change used light bulbs and call them new and others like to go further, what are we arguing over anyway :) some will make a mil before a deadline and others wont :)
 
againsthegrain said:
There is not much else to be said, I unlike others like to think big and ahead, some like to change used light bulbs and call them new and others like to go further, what are we arguing over anyway :) some will make a mil before a deadline and others wont :)
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No worries againsthegrain ....... You keep thinking big and make God speed be with you on your way to being a millionaire. The light bulb idea was to get people to think about the morality of business and the eithics involved. It was also about small seed capital business ideas and if anyone else had a viable going concern to make money. Never mind. I am not arguing with you on any point. I found it interesting that you associated home ownership with wife beating and bags under the eyes. A million these days is not enough. I prefer Bollinger in the morning and Moet in the arvos myself. Good to see you have a plan. Stick to it. :cool:
 
Morality? there is no morality. It's all about returns. Time to move on from the dumb as a door knob robo-sector. Goodbye to access to cheap credit bubbles!

How's life going there Professor Robots?

Buy Gold Doyen of everything, Master of nothing?

And welcome to reality from a LEGENDARY INVESTOR!!!!!



"Tim somebody" LOL "Robots somebody" ROTFLMAO
 
CEO of Commonwealth Bank of Australia Ralph Norris is a SOOK.

Bank bashing unnerving foreign investors: Commonwealth chief
Eric Johnston and Peter Martin

November 6, 2010

http://www.theage.com.au/national/b...estors-commonwealth-chief-20101105-17hjm.html

COMMONWEALTH Bank chief Ralph Norris has warned Australia is developing an international reputation as a tough place to do business as a result of government assaults on banks and the mining sector.

Speaking for the first time since Commonwealth’s surprise decision to lift mortgage rates by nearly double the Reserve Bank’s hike this week, Mr Norris hit out at Canberra for engaging in short-term populism.

He said the government attacks were making foreign investors nervous. ‘‘I have had a lot of negative comments from international investors in recent weeks that Australia does not look like a particularly business friendly environment.’’

THE AD THE BANKS DON'T WANT YOU TO SEE



 
GumbyLearner said:
Morality? there is no morality. It's all about returns. Time to move on from the dumb as a door knob robo-sector. Goodbye to access to cheap credit bubbles!

How's life going there Professor Robots?

Buy Gold Doyen of everything, Master of nothing?

And welcome to reality from a LEGENDARY INVESTOR!!!!!



"Tim somebody" LOL "Robots somebody" ROTFLMAO
Click to expand...


Poor selection.
This was back when the XJO was 4000 and DJIA 8300
Lot has changed most everywhere else Australia has PROVEN to be more resilient than most.

I'm afraid the reality is staring you right in the face and many are petrified by fear.
Few like against the grain will make their million and more--The first is the hardest.
Once there keeping it working for you with an eye on catastrophic risk then becomes a factor.
 
tech/a said:
Poor selection.
This was back when the XJO was 4000 and DJIA 8300
Lot has changed most everywhere else Australia has PROVEN to be more resilient than most.
Click to expand...

But if you took his advice back then and invested in commodities and the currencies he mentioned you would of made a killing!


I'm afraid the reality is staring you right in the face and many are petrified by fear.
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The opposite of fear, confidence is just a ponzi scheme in disguise

Prices always revert back to their fundamentals once all the smoke and illusion clears. What you call fear is mainly just the market going back to their fundamentals
 
hello,

oh yeah, Gumby we have all been waiting for you to pop up in the AFL Premiers 2010 thread

grand final day the past 2yrs have been awesome, best days of my life, "bottle this boys"

did riewodlt, hayes, del santo, milne, kosi, gram, baker actually play against collingwood, hehehehehehehe

wow, melbourne second best city on the planet as by UN, fantastic achievement, oh well

thankyou
professor robots
 
Dowdy said:
But if you took his advice back then and invested in commodities and the currencies he mentioned you would of made a killing!




The opposite of fear, confidence is just a ponzi scheme in disguise

Prices always revert back to their fundamentals once all the smoke and illusion clears. What you call fear is mainly just the market going back to their fundamentals
Click to expand...

Yen and Swiss Franc both continued to drop--still are.
Gold yes
Equities which he avoided ---yes.

Prices always revert back to their fundamentals

The fact that they actually do this well after people realise that the fundamentals as "they" see them have changed so dramatically that they miss the boat---has made me a motzza over the years.
I find fundamentalists get "Value" wrong more often than not.
Bless their little cotton socks.
 
tech/a said:
Yen and Swiss Franc both continued to drop--still are.
Gold yes
Equities which he avoided ---yes.

Prices always revert back to their fundamentals

The fact that they actually do this well after people realise that the fundamentals as "they" see them have changed so dramatically that they miss the boat---has made me a motzza over the years.
I find fundamentalists get "Value" wrong more often than not.
Bless their little cotton socks.
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Of course they reset all the time.

Most often they overshoot either way.

late 1990s the housing market was undervalued, now it is overvalued.

It rose nicely from then till now and will either stagnate or drop from now to whenever.

Then again, anyone here old enough has seen it all before, in property and stocks, and bonds, and hem lines.
 
tech/a said:
Yen and Swiss Franc both continued to drop--still are.
Click to expand...

You're looking at them the wrong way. Yen and Franc are quoted as USD/JPY & USD/CHF

as opposed to EUR/USD, AUS/USD, GBP/USD etc.

Look at the futures charts and how they are quoted i.e JPY/USD & CHF/USD. These charts have risen.

This means that yen and franc have in fact appreciated against the USD. ;)
 
wayneL said:
You're looking at them the wrong way. Yen and Franc are quoted as USD/JPY & USD/CHF

as opposed to EUR/USD, AUS/USD, GBP/USD etc.

Look at the futures charts and how they are quoted i.e JPY/USD & CHF/USD. These charts have risen.

This means that yen and franc have in fact appreciated against the USD. ;)
Click to expand...

Yes of course.
Hem--lines should be short at all times.
 

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