in

Mortgage sob stories begin

#housingmarket #mortgages #heisesays
The flood of mortgage sob stories are beginning. We need to make sure people learn the right lessons and not call for more regulation or paternalistic government “protection”.

Twitch
https://www.twitch.tv/heisesays

Check out HeiseSays International
https://www.youtube.com/channel/UCojfY2lvCR0AQBsCkl4QURg

📝 Become a HeiseSays Member
https://www.youtube.com/channel/UCe9Q_WLN-Z9tLVLoDIY24pg/join

🎙My Kit
Rodes Podcaster – https://amzn.to/2IfOEVV
Logitech C920 HD Webcam – https://amzn.to/2Kh6UR5
Rode PSA1 Swivel Mount – https://amzn.to/2WI2DNl
Rode WS2 Microphone Windshield – https://amzn.to/2K9edI1
Stream Deck – https://amzn.to/364HDjO
Drawing Screen XP-PEN https://amzn.to/3wuuO05

Alternative Media Channels
Lbry – https://lbry.tv/@HeiseSays

Goldpass Email: (Donate Gold)
florian.heise@heise.com.au

Buy HeiseSays Merch
https://says.heise.com.au/shop/

🟠 Referral Links 🟠
Amazon Australia Link – https://amzn.to/2KHmtiv
AussieBroadband Referral Code – 1826841

Independent Reserve Referral Link
https://www.independentreserve.com/invite/SSEFMM

eBay Affiliate Link
https://rover.ebay.com/rover/1/705-53470-19255-0/1?mpre=https%3A%2F%2Fwww.ebay.com.au%2F&campid=5338609762&toolid=20008

📬 Postage
PO Box 3404 Sunnybank South QLD 4109

Read More:
Why Buildings Stand Up
https://amzn.to/2stNb5O
Why Buildings Fall Down Why Structures Fail
https://amzn.to/2RqpREZ
Great Streets
https://amzn.to/2YsORy0
A Pattern Language
https://amzn.to/2K7qA7B

Donate and support my content
Patreon – https://www.patreon.com/HeiseSays
PayPal – https://www.paypal.me/fheise

Social Media
Discord – https://discord.gg/uj9Y4sy
Facebook – https://fb.me/Heisesays
Twitter – https://twitter.com/FlorianHeiseAus

Heise Architecture
Our Architectural Practice.
http://www.heise.com.au/

Point Clouds Australia
Our Point Cloud Scanning and Equipment Hire business.
http://pca.heise.com.au/

Written by Heise Says

Comments

Leave a Reply
  1. Heise the RBA/Fed interest rate needs to be ABOVE the inflation rate for inflation to come down. If they don't raise rates high enough then inflation will hang around for much longer than expected! So the RBA needs to raise to 7% and the Fed to 10% to knock inflation down! People, banks and you aren't expecting this high a rise in rates!

  2. The ones buying in the peak should be the ones with the lowest rates. They should be on a couple percent for at least another year.

    Everyone else their rates are coming to an end now.

  3. Wasn't Home Economics once a thing and how many people who have travelled overseas multiple times before buying a house, with double degrees know their times tables or what the rule of 72 is?

  4. To what extent are house prices as high as they are because of the "wisdom" that "house prices never go down in Australia"?

    Would bids and offers have gone as high as that did in early 2022 if 30% of bidders and buyers honestly thought prices would come down with interest rate rises?

  5. Rent is increasing because of inflation. Money is cheap and people have more to spend on rent. Rent will increase less with interest rate rises. Rent will only affect what people can afford and landlords will always try to increase rent to the maximum they can get.

  6. Remove half the woke crap they learn today at school then they could teach the kids real life lessons. But it's all done on purpose, they need people uneducated in truth and believing the lie. Give them bread a circuses while we destroy them.

  7. The blame lies squarely APRA and FIRB for allowing low deposit loans…..

    Once again, responsible low leveraged home owners have to pay for the high leveraged gamblers mistakes……

  8. Inflation isn't caused purely by consumer spending, it's due to government spending on handouts and subsidies, war in Ukraine, and the China lockdowns. Inflation will only be contained if they shift the profits of businesses to the employees in form of increased wages. Companies are making record profits to keep share holders happy, companies are increasing the price of goods services in order to look attractive to share holders and potential shareholders.

  9. Problem is some people are prepared for a interest rate but the increases to groceries are the nail in some coffins,fuel is up and it is a necessity when you need to get to work !
    It is a double hit people didn't count on.

  10. Haha love how you all just bend over and take it up the rear. This country has been over priced for a long time they dont want that bubble to pop cause all politicians and so on are very heavily invested in real estate. Even when the markets bad they will always tell you theres opportunities elsewhere to sell you something as real estate is a business just like a used car sales man. For them to make money they need a revolving door of business going through just like every other business. Problem was how much of the population are a bunch of suckers. From 100k homes from the early 2000's and a growth of 18 million in the 80's to 25 million here today ain't a lot of growth and very well spread out across a country same size as America. Sydney prices are up there with New York. Least theres was justified due to they have a population of this country in 1 city. Now there trying to squeeze everyone out as they have done in other countries. Even cost of living going up to push those out who cant afford things as easy. Hope you all suffer and go bankrupt your self ignorance deserves it..

  11. If you cant repay your mortgage at a cash rate of 5% you cant afford to have one. All those who have borrowed a fortune to build their tacky McMansions will have to learn a harsh lesson.

  12. So hard to decide what to comment on but ….. your expectation for more play time less learning – clearly you've forgotten the Premier for cheaper
    Electricity – determined we would be the " smart state".
    I agree with you , coming from a slate & slate pen era.

  13. You have no compassion, zero.
    Yes people have acted foolishly; and got themselves in a financial death roll.
    Bringing much stress causing illnesses and family breakdowns.
    Breakups, violence, stealing etc, desperate people doing desperate things to survive.
    Families on the street, sleeping in cars etc.
    But you say it will do them good, you tell people to keep to strict budgets and save there way to financial independence.
    You can’t keep to budgets when prices are increasing every week, like fuel and power.
    You show no understanding, because you think you have got your act together and with all your schemes.
    You show no understanding to people that innocently are underwater and drowning.
    What do you call people that can’t relate to sob stories or peoples financial wows.
    A fall is coming.

  14. Sorry, but I really have no sympathy for these people. I understand that there are some cases that are genuinely hard done by (usually single parents and the like). But people who flooded the market and took out $1mil loans throughout covid should’ve seen this coming.

  15. Sadly most people are not educated in financial matters. Banks promise, rba promise. The generation that lived through 17% interest rates know too well! Today’s generation have been living in a fake economy, cheap money, 20 years seeing housing go,up, like it’s iam wealthy forever!

  16. Its called a variable rate for a reason? If you knew rates were at historic lows and cant possibly go lower AND you have a variable rate, which way do you think rates may go!? UP! Just because you can borrow your max doesnt mean you should. Banks are not your friend – they want to keep you in debt for as long as possible. My wife and i bought a house 10 years ago when the cash rate was 4.75%, so much higher than now. Since then our home might have appreciated 20% (so +2% per year on average) AND we have spent money on rennovations etc. It wasnt our dream home in our favorite area but we wanted to get into the market and we didn't want to be slaves to the bank. We are fortunate great position now because we have 0 debt with good savings so pretty immune to what is going on BUT sacrifices were made along the way. My strategy was: – BUY WELL WITHIN YOUR MEANS AND JUST GET INTO THE MARKET, dont buy your dream home straight away, just get something under your belt first, make extra repayments or use an offset account to reduce interest you pay over the life of your loan, reduce discretionary spending until you pay down enough debt to live comfortably. SMASH that mortgage ASAP.

  17. Government regulation is being done wrong. That doesn't mean it's unnecessary. It means it needs to be done correctly.

    The housing in this country is soaring on heights that it is on because the appropriate authorities did not ensure rational lending obligations by banks, and it was so in order to protect banks. Greed of the population was preyed upon in order to protect banks and property investors and it was deemed naccisairy because of the Chinese clamp down on money leaving their country and money for launder in Australia and the rest of the anglosphere becoming more difficult to come by. Covid was a dream come true for our parasitic class as they QE'd our at the time lack of liquidity and turned our dollar into crap.

    It's starting to smell like 2017 again, meaning in two years time it will be 2019 again. But this time with rising interest rates and inflation that is proving not so "transitory". I wonder if there will be another leaver they can pull. What else could we throw under the bus to protect parasites and their inflated assets – by pretending we are helping to save deluded strugglers "fighting to keep their house". All in spite of the few rational souls out there who just want a realistic price, I guess we're the real enemy.

  18. Not sure if you've already talked about it, but there's an article on news talking about 'Quiet quitting'. Basically staying employed but doing the bare minimum. I'd be interested to see your take on it.

  19. Starting to see houses up for sale on the southside of Bris ,and they are ordinary houses ,not '''must have'' Mc Mansions ,petrol going up next month is going to be a killer,do they want the whole economy to come to a standstill to stop inflation ?

  20. Growing up, brought up in the eighties? Ha! Try the 50's/60's in the days when colour television was new, actually before television! Radio serials; anybody heard of them?

  21. i thought i would mention the greed of some of the service providers witch must add to inflation six months ago i took my car in for a oil change $180 expensive i thought half hour job sixty bucks for oil and filter,this week $250 same oil change is this the same with all providers,never waste a crisis,,,,,

Leave a Reply

Your email address will not be published.

Loading…

0