AMP Bank pulls out of all investment lending

The RBA Guv believes this is a social problem and a significant emerging risk to financial stability.

Besides, it's the bank's money, not your money, who are you to whinge about the interest they charge on their money that you are indebted of?

Your debt is a privilege, not an entitlement. Next time you buy a property, why not use your own money instead of borrowing from the bank's depositors, funders and shareholders?

 

That would suck, but anything's possible at the moment.

 

Mate you seem to be making a lot of assumptions and giving advice not asked for. I know the game and how it's played. I have been investing since the late 1970's as a teenager ..... Pull your head and listen instead of shooting your mouth off, .. you never know you may actually learn something.

 

Yeah. Keep whingeing. How very experienced indeed.

The banks throw you a curve ball and then you Whinge. Complain. Whine. Shows an utter lack of financial sophistication.

Unless you have been using your own money to buy properties, yoi have no right to whinge. It's not your money.

 

I don't think people are whinging as such its more the fact that the rules of the game are in a state of flux so its difficult to form any sort of plan presently.
When you don't know whats around the corner any form of risk management is difficult, I could be wrong but some of your posts indicate a hint of glee at others concerns.

 

Well people should know where to take cover.

Obviously many property investors have no idea what financial risk management and hedging are all about.

 

Many manage risk by having easy access to capital, generally through equity releases / LOC's. The game has changed, yes. But this is all part of it. Are you telling me you have risk mitigation strategies in place that are absolutely, positively impervious to external forces? Please...let's hear it.

People have a plan. The plan changes. So they look for new ones. That's life. What exactly is your point? Are you here to contribute or just crap on everyone? I hope the glee you're getting from this in some way offsets the bitterness you're harbouring elsewhere, presumably from missing out and watching your friends ride the boom to riches.

 

Someone with 20%+ annual return on an 8-digit portfolio is hardly "bitter"

People think they know financial risk management when they actually don't.

 

What you have is irrelevant. It's in us to want more. People are never satisfied. Give a man a million and he'll want another. While you'll never admit it, you're filled with regret over something you missed out on, it bleeds out of every comment you make.

 

So are you here to share some of this knowledge or just brag about how good you are?

 

There was a case on a forum a few years ago where it was revealed that four of the so called experts where the same teenager ...

Maybe this is his younger brother.

Cliff

 

On SS?

 

20% return on 8 digit portfolio

 

That's nothing. I'm getting 49% on a 9 digits portfolio and my pet dog has 25% on 8.5 digits portfolio.

 

Has it ever been the case, anywhere in the world, that the average person could buy a home without borrowing money?

 

Some Asian countries there would be.

Nevertheless, I'm not sure why it's necessary considered the "bank's money" anyway? What about the deposits that they take in and use to fund these loans?

 

Examples?

 

Hi mate

That's impressive and I'd be interested to hear the story.

However it's also a bit of personal information to share that fact.

Since you don't mind sharing, may I also ask your age? The way you wrote "whatever" as "woteva" made me think you are quite young. If you are young - that portfolio is even more impressive!

Let us hear the story?
Are you entirely self made?
How long did it take and where did you start?

I had this image of a kid or 20yo from your posts but I may be wrong? Or just young at heart?

 

In Vietnam, transactions used to be in cash or gold bars. Loans and the banking system in general was not trusted at all and the average person wouldn't even have a bank account. That was only 20-30 years ago.

 

Before the 90s you'd be surprised how many people bought or built homes with cash. My parents are an excellent example and many of their baby boomer friends did the same.