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Tag Archives: Finance

Bank refunds over $230k in overcharged interest – The Adviser

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A Tasmanian bank has refunded over $230,000 in overcharged interest and fees to more than 1,040 customers with mortgage offset accounts.

A customer of MyState Bank Limited (MyState) reportedly contacted the bank to enquire about their offset accounts being linked to their mortgage.

After conducting a review into why the accounts were not linked, MyState found several customers had loans with unlinked offset accounts, while others had offset accounts but no loans, and some had offset accounts together with ineligible loan products.

This therefore meant that they were overcharged interest.

Source: Bank refunds over $230k in overcharged interest – The Adviser

 

How To Win The Affordable Housing Argument | A Young Person’s Perspective | The Facts And Figures Of The Affordable Housing Argument

The Affordable Housing Argument

Affordable housing argument should be heard from the young person’s perspective. Eliza Owen is an economist, writer and comedian who believes economics should be accessible to everyone, not just economists. She currently works as a market analyst for onthehouse.com.au, and has a regular economics segment on FBI’s ‘Backchat’.

Affordable Housing for First Home Buyers – a Unicorn? 40 years’ worth of savings for a Sydney deposit, UBS modelling shows – ABC News (Australian Broadcasting Corporation)

Affordable Housing for First Home Buyers

One day people will say, “first home buyer” and laugh. I’m not saying first home buyers will be extinct. Like unicorns, affordable housing for first home buyers will be very very rare.

affordable housing for first home buyers

Or will it be homes for first home buyers that will be rare?

The gap between house price growth and wages growth in Australia is killing off the first home buyer.

support for Australia's housing bubble

Has The Australian Housing Bubble Burst? – Have A Look At Canada

Has the Australian Housing bubble burst? That is the $Trillion question.

Not if the Canadian housing bubble is any sort of benchmark.

The Canadian housing bubble is defying government attempts to burst it with an unbelievable resilience. So is it a housing bubble? Do we even have a housing bubble?

Canadian housing bubble house price growth

Talk of a housing bubble has been driven by a lack of affordable housing and price growth. That has happened mainly in the Sydney and Melbourne markets.

The Biggest Real Estate Bubble Of All Time Just Did The Impossible | Zero Hedge

One month ago, we said that “the Vancouver housing bubble Is back, and it’s (almost) bigger than ever.”

Fast forward to today, when we can scrap the almost part: according to the latest data from the Real Estate Board of Greater Vancouver, nearly a year after British Columbia implemented a 15% property tax targeting foreign buyers, in May the biggest real estate bubble of all time did the impossible and in a testament to the persistence of Chinese oligarchs, criminals, money launderers and pretty much anyone who is desperate to park their cash as far away as possible, after a modest drop following last summer’s tax the Vancouver housing bubble has bounced right back to new all time highs, as prices of detached, attached houses and apartment all surged to new record highs.

In other words, all that the 15% surtax achieved was to drastically slow down the rate of transactions (or perhaps home flipping). Meanwhile, as sellers held out to find more aggressive buyers, they were in luck as the new wave of buyers has emerged, and undeterred by the 15% premium, they have been slowly but surely lifting all available offers. Via zerohedge.com

what causes low housing affordability

What Causes Low Housing Affordability – The Real Issues

What Causes Low Housing Affordability? Low Wages is a Big One!

What causes low housing affordability? This is a question people have been asking since this current property boom began.

Perhaps it isn’t the right question.

Perhaps it is not “what causes low housing affordability?”  but “why can’t people afford houses?” Why do we have cops that couch surf?

Housing Affordability – The Real Issue and What Can Be Done About It. DF Partners, May 2017

Only 8% of Australians aged between 18 and 35 (the millennials) believe they will be financially better off than their parents (Deloitte Millennial Survey 2017). Housing affordability is top of mind for many Australians in this age group resulting from national house prices accelerating ahead of national income.

In this article Development Finance Partners’ (DFP) Senior Credit Executive Stephen Turner discusses the dynamics behind the issue and assesses the potential solutions.

www.ahuri.com.au bond aggregator

Bond Aggregator Will Stop North Korea, No but Affordable Housing is a bigger problem anyway

Bond Aggregator model recommended by AHURI

It wouldn’t take much to stop North Korea, but, I’m sure a bond aggregator is not going to do it. Affordable Housing is a bigger problem anyway. Recommended by AHURI, the Australian Housing and Urban Research Institute, a bond aggregator is the Commonwealth’s main contribution to solving the affordable housing crisis this budget.

Read on to find out what a bond aggregator is AND how the affordable housing crisis can provide you with a hassle free property investment.