Yes
Agreed. We don't think that kind of behaviour is acceptable in other parts of our society, so why finances?
Plenty of blame to go around, obviously.
YesI believe both sides are to blame, the borrowers and the lenders. I just think the proportion of the blame fluctuates.
Agreed. We don't think that kind of behaviour is acceptable in other parts of our society, so why finances?[...] banks need to have a similar duty of care toward vulnerable people that are easy to exploit due to lack of IQ/knowledge/education/entitlement etc.
I want to throw in, asking for a loan that they really shouldn't be asking for, I never made a zillion dollars on a deal, mainly because I never borrowed more than I could afford to pay even if I lost my job.The article generated a lot of responses in a short amount of time.
The phrase that comes to my mind is .....
Individual Financial Education, and the lack of it.
The other side of the coin has phrases like ......
Too big to fail. Commissions. Unethical. Dishonesty. Consumerism. Keeping up with the Jones’s. Entitlement.
I believe both sides are to blame, the borrowers and the lenders. I just think the proportion of the blame fluctuates.
Gunnerguy.
On one hand I agree that banks shouldn't lend to people who can't repay the debt and so on.
On the other hand we're talking about grown adults borrowing serious amounts of money and making the largest financial decisions most people will ever make here and doing so in a world where practically everyone has access to all manner of information via the internet.
We're talking about people aged 25+, in many cases substantially older than that. People who've had various jobs, relationships, in many cases have tertiary education, some have children and so on. That is, broad life experience. If they're not grasping the seriousness of what they're doing then as a society we're going wrong in more ways than just with housing or lending money.
I knew in primary school that advertising of any kind is simply about business trying to convince people to spend money and that whilst it might be true as such, it needs to be treated with extreme caution always. Doesn't everyone know this stuff? Just because someone says it's a good deal doesn't mean it is.
When a person goes to a doctor or an engineer, they usually have a problem they want to have solved, if it is say major surgery or major engineering works they should get a second opinion, I know I did before having both knees and a hip replaced(not at the same time).All points are above are true but would you apply the same logic to the medical profession, engineering.....etc.
For example a patient is convinced they need a surgical operation - the doctor will make a lot of money from it. The doctor knows it's unnecessary, the doctor should do it anyway??
In fact according to the logic some are displaying illicit street drug dealers selling heroin to adults have no responsibility or liability.
Heroin would be the ultimate capitalist commodity.
having both knees
PM me otherwise we will send the thread off topic. I had may joints replaced 15,12 and 9 years ago.Full replacement???
How did that go, I need to get same.
You more mobile now, pain free??
What do you mean?At what cost ?
What do you mean?
I assume it means the social and economic costs if home affordability becomes out of reach for too many people.What do you mean?
All points are above are true but would you apply the same logic to the medical profession, engineering.....etc.
For example a patient is convinced they need a surgical operation - the doctor will make a lot of money from it. The doctor knows it's unnecessary, the doctor should do it anyway??
In fact according to the logic some are displaying illicit street drug dealers selling heroin to adults have no responsibility or liability.
Heroin would be the ultimate capitalist commodity.
The Government building social housing would be a last resort, the costs associated with repairs and rent arrears/evictions just balloons out massively, that was why they started building state housing suburbs and flats to keep all the repairs in one location.I assume it means the social and economic costs if home affordability becomes out of reach for too many people.
I thought a 25 year mortgage was absurd the first time I heard of it as a kid, then I went to Europe and met families renting the same house for generations and home owners paying a house off over generations. Kicking a renter out of your home was basically impossible, After seeing all of that a 25 year mortgage seems like childsplay.
I am guessing house price increases will eventually cause gov to build more public housing and to allocate more land for housing development. Both will put downward pressure on house prices and people who bought homes and property as retirement investments will lose money.
I am also seeing a lot more squatters, urban encampments and people occupying vacant land than ever. Councils and police seem to ignore it, locals don't because we now go on Sunday walks together picking up used needles and other hazardous rubbish where local children are meant to play.
It's a coastal town 1hr from Melbourne, with good road and rail transport access, simple logics really.What has happened with property prices in 10 years around Geelong ?
Geelong sellers see double as property bubble grows - realestate.com.au
Nearly two-thirds of Geelong suburbs and towns have seen median home prices double this decade as the region rides a wave of population growth. SEE THE FULL LISTwww.realestate.com.au
If a woman decides enormous gazongas are necessary to her would you be brave enough to argue?
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