The future of Australian property prices

[tech/a]

I do my Company banking through CBA.

I have their Business Manager chacing me for my Housing portfolio,Infact I have a very good written offer void of fees to move on my desk currently.

My current lenders St George and Bank SA are just as keen to keep it.
Both have opened up a negotiation with me I didnt instigate.
The result will be a better deal for me.
Great!

 

[Mr Z]

I do my Company banking through CBA.

I have their Business Manager chacing me for my Housing portfolio,Infact I have a very good written offer void of fees to move on my desk currently.

My current lenders St George and Bank SA are just as keen to keep it.
Both have opened up a negotiation with me I didnt instigate.
The result will be a better deal for me.
Great!

Savor it! After all how often do they beg?

 

[tech/a]

They never beg!

They do however like decient business.
I have had many run ins with banks and dont like them as a business.
Individuals are good people on the whole but like everything the holder of the pay check can alter good peoples personalities.

National Bank came close to Bankrupting me in the 80s---tough and emotionally taxing times--
I learnt more from hardship than Id ever learnt in prosperity.
One of the reasons Ill spread and stay spread between lenders.

I remember my Solicitor saying to me.
If you want the best position of negotiation with a bank make sure that you owe enough to hurt them if you have difficulty and they consider writing you off!

Its been sound advice.

 

[Mr Z]

They never beg!

Then you just have not borrowed enough!

Ahhhhhhhhhhhhhh the 80's what fun! Just as well I was younger and full of energy!

Anyway, where is my property bear hat?

Doomed, doomed we are all doomed! The market is crumbling!

How is Bot's BTW?

Are we still doing this good guys bad guys thing?

Sorry... off topic, as you where men! and lady men! errrr I mean not men

 

[nukz]

I learnt more from hardship than Id ever learnt in prosperity.

This is so true, i have had very much the same experience before. It can also change the way you make decisions in the future in short learning from possible mistakes.

 

[MR.]

http://bigpondnews.com/articles/TopStories/2010/11/10/ANZ_lifts_variable_mortgage_rate_537480.html

ANZ Banking Group has lifted the interest rate on its standard variable home loans by 0.39 per cent to 7.8 per cent and scrapped its exit fee for mortgages

ANZ said it would scrap its deferred establishment fee, or exit fee, on mortgages and would waive loan approval fees for all new and existing mortgage customers applying for the three-year fixed rate mortgage by December 31.

Establishment fees up then or not?

 

[Mr Z]

Sounds like an invitation for the 'weak hands' to leave the ANZ if they find a better deal.

Either the government does not understand the funding pressure here or the banks are getting greedy. I think that the gov is willfully ignoring reality. The UST ten year note looks to be establishing an up trend in response to QEII. It is the cornerstone of the US mortgage market, you have to assume that currency risk is hedged away so that leaves upward rate pressure.

Rate direction is more important than absolute level...!

 

[Verge32]

Or ramping something up.

Is that allowed on ASF?

I had seen earlier on the thread that Kincella had also spoken of the Murray region in regards to the property in that area around the Coal developments.

I was just wondering is anyone else had looked at the potential for that area.

I have clearly missunderstood the thread. I thought it was talking about areas and the future of property prices, not the banks.

Most other forums that discuss this topic discuss potential areas where prices are due to have major shifts in prices.

My apoligies.

 

[Mr Z]

That be because maybe banks and interest rates have something to do with it?

 

[UBIQUITOUS]

'Surprise' jump in the jobless rate today I wonder how many of those got conned by the FHOG and now are losing their homes? Sad sad sad. Shame on you property spruikers

 

[tech/a]

'Surprise' jump in the jobless rate today I wonder how many of those got conned by the FHOG and now are losing their homes? Sad sad sad. Shame on you property spruikers

No problems they can rent one of mine

 

[Mr Z]

You evil capitalist! :

 

[Mofra]

You evil capitalist! :

Depends how you look at it - if rent is set at market rates and is below the non-deductable interst component of a loan they would pay anyway (minus maintenance) then tech/a is doing them a service by adding stock into the rental market to keeps rental rates reasonable

 

[Mr Z]

I look at it with my tongue firmly in my cheek.

Government has no place in the market . end of story.

 

[medicowallet]

They never beg!

They do however like decient business.
I have had many run ins with banks and dont like them as a business.
Individuals are good people on the whole but like everything the holder of the pay check can alter good peoples personalities.

National Bank came close to Bankrupting me in the 80s---tough and emotionally taxing times--
I learnt more from hardship than Id ever learnt in prosperity.
One of the reasons Ill spread and stay spread between lenders.

I remember my Solicitor saying to me.
If you want the best position of negotiation with a bank make sure that you owe enough to hurt them if you have difficulty and they consider writing you off!

Its been sound advice.

This post is the best I have seen on this forum

The bankers are your best friends when you are making them money.

When you are going down, they are your worst nightmare.

I spread my exposure and often jam it up them just for fun. Why? because I can!

 

[robots]

I had seen earlier on the thread that Kincella had also spoken of the Murray region in regards to the property in that area around the Coal developments.

I was just wondering is anyone else had looked at the potential for that area.

I have clearly missunderstood the thread. I thought it was talking about areas and the future of property prices, not the banks.

Most other forums that discuss this topic discuss potential areas where prices are due to have major shifts in prices.

My apoligies.

hello,

good afternoon, yeah spot on Verge32

action should of been taken regarding the issue you raise as alot of this thread is about the banks now

and with ONLY 30% of their funding coming from overseas its another one of those myths in life, they loan just like they did 10, 20, 30, 50yrs ago

just whingers man, and probably why we wont get a response from Kincella or others as to what they are doing with property

thankyou
professor robots

 

[Mr Z]

WOW only 30%!

Price pressure comes at the margins! As in attracting or securing the marginal extra $

 

[robots]

WOW only 30%!

Price pressure comes at the margins! As in attracting or securing the marginal extra $

hello,

i see what you mean alright Verge32, ONCE AGAIN

"the future of australian property prices"

thankyou
professor robots

 

[MR.]

http://www.abc.net.au/news/stories/2010/11/12/3064998.htm

The standard variable mortgage rates for the big four banks are:

NAB - 7.67 per cent
ANZ - 7.80 per cent
Commonwealth - 7.81 per cent
Westpac - 7.86 per cent

Let Barbara explain it!
http://www.youtube.com/watch?v=VPQlFE8NCTI&feature=related

62% tomorrow, go on have a stab!

 

[Dowdy]

hello,

good afternoon, yeah spot on Verge32

action should of been taken regarding the issue you raise as alot of this thread is about the banks now

and with ONLY 30% of their funding coming from overseas its another one of those myths in life, they loan just like they did 10, 20, 30, 50yrs ago

just whingers man, and probably why we wont get a response from Kincella or others as to what they are doing with property

thankyou
professor robots

Well, the guy wanted to know any areas where prices would breakout and i've never seen you make any post about that (now would be a good time to do it).
I mean, all you seem to post is the clearance rates (which you now say mean jack) and post your little trips to the coffee shop...

So who is really posting worthless post?

After all, the banks have nearly everything to do with housing, without them how will people buy houses with only the FHOG as the deposit....like the good ol days