Mortgage arrears at five-year high: Moody’s

Home loan arrears are at the highest levels for five years http://snip.ly/mky1h

home loan arrears

The proportion of Australian residential mortgages more than 30 days in arrears rose to its highest level in five-years, according to Moody’s Investors Service.

Source: Mortgage arrears at five-year high: Moody’s

 

Investment Property Risks | Our perverse fascination with property – Mortgage Business

Investment Property Risks, There’s No Telling Some People

Investment property risks can be more than adequately managed. So why do so many people forget to manage investment property risks? A little bit of insurance, a long term lease to a good tenant and Bob’s your uncle.

Trouble is with investment property risks property investors get tunnel vision.

Opinion: Our perverse fascination with property – Mortgage Business

The bottom line is this: going into debt carries risks. Period.

Whether you’re racking up debt on a credit card or borrowing to buy a two-bedroom unit in Sydney, there are risks involved. What if you lose your job? What if the price of your property falls? What if you get sick and can’t service the mortgage? What if?

It’s too late to start asking these questions once you’ve taken out a loan. But there are things you can do to alleviate your fears, like taking out mortgage protection insurance and getting advice from someone who isn’t holding the title deeds. Via mortgagebusiness.com.au

The Top 3 Ways To Manage Investment Property Risk

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

Free Home Loan Calculator and Bank Checker Software

Free Home Loan Calculator and Bank Checker Software

 

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