MC

Doing my best

[MC @mjcloch]

@SpachusAus I know. One of the reasons I’ve followed you guys from near the start. Unfortunately, the tale of fortune and wealth was 1) way more profitable for the spruikers (hence why so loud) and 2) to alluring for many regular people trying to get ahead.

[MC @mjcloch]

@SpachusAus Please note: comment above, not having a go at the ave Aussie who bought last 4-5 years (many of who will suffer significant financial hardship next 1-10 years) It’s a go at the property ‘experts’ who made HUGE money off them by spruiking this crap (often, in my view, knowingly)

[MC @mjcloch]

@SpachusAus It’s a supply side issue 🤣. Demand will always stay up in Australia - we’re different to other markets 🤣.
Immigration is a key driver 🤣.
People won’t sell now that negative gearing is ‘grandfarthered’ 🤣.

[MC @mjcloch]

@Almighty1867810 @SpachusAus Please be curious about Aust ave person per dwelling. What if we head back towards longer term ave’s of people per dwelling? The stats show if we get a 10-15% increase towards the longer term ave there will be spare houses for days. Please be curious about how past gen’s shared

[MC @mjcloch]

@bowtiedstocks Love the humour in your response (or sarcasm 🤣), but to clarify when I wrote ‘stay’ I meant as in ‘stay in the house / mortgage’. For clarity should have probably written - “.. ..not walk away”.

[MC @mjcloch]

@BK18699178 @NoelWhittaker Reckon they’ll walk. If only 5% deposit unlikely they have many other assets. If my family memeber , let the Bank bankrupt them (under personal g’tees). Why pay for negative equity, huge (& increasing mortgage) when renting comparable property will be less? Tough lesson to learn

[MC @mjcloch]

@blogs412338 @NoelWhittaker Agree. They’ll walk because renting will be a comparable property will br less. Taxpayers on the hook

[MC @mjcloch]

@NoelWhittaker I’m really curious how an Australian financial specialist doesn’t seem to understand mortgage insurance. It protects the banks, not the borrower. In the lovely 5% scheme by this government, govt are the underwriters to the Banks - taxpayers (us) are on the hook between 5-20% loss

[MC @mjcloch]

@BikoKonstantin1 Wha to want to know is where have all the ‘it’s demand’ side gone.
Has supply all of a sudden increased and immigration dropped???
No, Aussie house prices greatest influence is has has always been tax policy.

[MC @mjcloch]

@msalexroberta @Crashman_X Sorry, my bad > 20%

[MC @mjcloch]

@msalexroberta @Crashman_X Banks only lose if price drop > 5%

[MC @mjcloch]

@msalexroberta @Crashman_X Bank’s won’t be able to raise rates to offset this - it’s a competitive market. But, the loss is to the taxpayer not the bank. What most people don’t realise is that mortgage ins. means the banks don’t lose $. Ie 5% deposit scheme - it’s taxpayers who underwrite the policies.

[MC @mjcloch]

@SpachusAus @trent_saunders_ 🤣

[MC @mjcloch]

@BikoKonstantin1 And with just one policy change (ie land tax). Imagine what would happen if there was proper policy from federal and state governments. Supply is not the issue, demand is.

[MC @mjcloch]

@SpachusAus @DaveTaylorNews RBA trapped. They know middle class really hurting, but baby boomers still spending like drunken sailors (with no mortgages) thus inflation sticky /won’t go down. In past, people didn’t live as long - rates affected more people in working age largest cohort & worked. Not same.

[MC @mjcloch]

@CBB1934 @ausstockchick They’ll walk. Taxpayer on the hook. Assume people who needed 5% deposit scheme don’t have many other assets. Go bankrupt and walk. Why pay a massive and increasing mortgage when you’re asset is underwater

[MC @mjcloch]

@PeterOfPerth @ausstockchick I’m curious as to why people will conntinue pay an over the top mortgage on a property they are underwater on. I beleive, they’ll walk away (they’ll have already lost their 5%) and rent somewhere else.

[MC @mjcloch]

@JesvinderSingh3 @ausstockchick Don’t forget the Aussie taxpayer paying the difference between the 5% and 20% drop before the Bank takes a hit.