chaudave APRAinfo Desperate zick-zacking around one of the root causes of the affordable housing problem: too many rich immigrants allowed to settle in a few capitals which have long exceeded their physical limits to growth
Will the banks drop their I/O rates back now that they don't have the APRA excuse?
They will need to do something with Labor’s changes to negative gearing and CGT in the wings.
Wacco jacko’s, further distorting markets already conned by money lending frauds, where business = what business, all we need in Oz is to be realestate rich
The RBA Ponzi is good to go again.
Who bought them off?
APRA acts to remove the possibility of young Australians being able to own a house.
This smells of interference. The market is currently undergoing a correction after years of loose credit lending.
APRA created these problems, are they still going to stop investors by 'stress testing' at stupid levels and stop foreign investors from using foreign income as part of an Aus loan?
Do they really know what they are doing?
'falling by 9.5 and 5.8 per cent from peak to trough' wow that's massive. So much more affordable.
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APRA to lift restrictions on interest-only residential lending | Sky News AustraliaBanking regulator APRA has announced it will ease lending standards by removing the benchmark for interest only mortgages.\n\nThe 30 per cent threshold was established in March 2017 to reinforce responsible lending practices. \n\nThe decision aims to stabalise the property market. \n\n\n\n
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Lack of discussion around economic challenges ‘concerning’ | Sky News AustraliaThe Shadow Finance Minister finds the government's lack of discussion around challenges facing the economy 'concerning', amid apparent 'soft spots' in the sector. \n\nJim Chalmers told Sky News there is a disconnect between the official regulators and the government and urged the Coalition to respond in detail to APRA, following the regulator's decision to remove banks' interest-only lending restrictions. \n\nImage: News Corp Australia\n\n The so can Shadow Finance Minister has nothing to worry about, concerning the Australian economy, his public funded pay check is guaranteed to be in his bank account, no matter what happens with the economy.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
APRA to lift restrictions on interest-only residential lending | Sky News AustraliaBanking regulator APRA has announced it will ease lending standards by removing the benchmark for interest only mortgages.\n\nThe 30 per cent threshold was established in March 2017 to reinforce responsible lending practices. \n\nThe decision aims to stabalise the property market. \n\n\n\n
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Banking regulator moves to scrap limit on interest-only home loansThe banking regulator will remove its restriction on interest-only mortgage lending, saying it has served its purpose of reining in higher-risk loans. clancyyeates very much doubt it helps arrest the fall in property price. All the measure reveals is the fear of crush at the highest level.
Source: smh - 🏆 6. / 80 Read more »
Treasurer calls on banks to stimulate lending | Sky News AustraliaTreasurer Josh Frydenberg is demanding banks stimulate ‘affordable and timely’ lending after revelations Australian house prices have suffered its worst year since the global financial crisis. \n\nMr Frydenberg used the latest figures by CoreLogic to renew his attack on Labor’s election pledge to curb negative gearing, claiming the policy will worsen the housing market slide. \n\nImage: News Corp Australia \n\n JasonClareMP Banks tightened up loan books subsequent to the Royal Commisssion. There will need to be regulatory and/or legislative support for them to reopen there loan books (along with the absence of an AustralianLabor removal of negative gearing). JasonClareMP This clown has zero credibility JasonClareMP Fairly for who, you bunch of liars
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Business leaders warn against tighter lending standards in wake of banking royal commissionBanks are already behaving more conservatively and potential further changes to the rules around qualifying for a loan could impact those on low and middle incomes. It's like starting a train without any brakes and getting it up to full speed. Stopping it will be messy, painful and someone will get hurt. So maybe we just let it keep going, maybe even stoke the coals a bit more? NAMES of these business so called LEADERS or leaner. Bankers, Financial theorist, Real Estate agents, Mortgage Brokers, Developers, so many feeding of the magic pudding, over cooked & well over primed This is beginning to look like the banks have colluded to collectively drive up credit standards and stall new lending in revenge for the BankingRoyal. It’s exactly why the commission needs to sit for much longer. Where’s the acccgovau ?
Source: abcnews - 🏆 5. / 83 Read more »
Cash Converters grilled by Senate inquiry on 'responsible lending' credentialsCash Converters says it is a responsible lender helping millions of Australians who suffer from financial exclusion, but its claims have been challenged by conflicting evidence at a Senate inquiry. Usury 101 These ass holes keep on getting busted but some how are still in business. It is so wrong. This is another prime example of the government making it harder for the lower class but hands out tax beniftis to fat cats
Source: abcnews - 🏆 5. / 83 Read more »