Westpac cleaned me out

Australia doesn’t have jingle mail but looks like we might have “class action lawsuits” instead.

 

And give him a $100k + job so he could afford his mortgage !

 

That’s the question. Instead of whinging about a few plebs suing the banks we should be asking if this is the start of a massive trend thanks to the RC? An Australian form of jingle mail which many people said wouldn’t happen here.

 

Jingle bells,
Banks all smell,
RC had its say,
Make the entitlement dash,
Sue for cash,
Shorten will join the bash. HEY!

 

We all know the answer here but brokers/banks are easier to blame!!

They will tell you that it was indeed the poor lending practices of brokers/bankers that triggered the collapse (despite world class low defaults). If they couldn’t dodge the responsibility, you will be told the benefits of a crash just like RBA is now even saying that a crash may actually not be a bad thing.

 

Where do the RBA say a crash isn’t bad???

Personally, I’m not concerned with the blame game revolving around this issue (the lawsuits), I’m much more concerned about it’s potential impact on the market.

 

Declining house prices in Sydney and Melbourne should not come as a surprise and are not all bad news, the Reserve Bank governor, Philip Lowe, has told a parliamentary committee hearing in Sydney.

Lowe stressed that cooling prices, while making things “difficult for some in our community”, are not expected to derail Australia’s economy.​

House price falls in Sydney and Melbourne not all bad, Reserve Bank head says

 

Looks like a D22 Navara to me. That model had a long run (1997 - 2015) in the Aus market.

 

It's a falling knife - nobody wants to touch it.

Despite my optimism for Sydney, I think things have gone to a point where real damage has been done and now it's too late to stop it from spreading to wider economy.

- Bank revenues will get a substantial hit this year and we will start seeing them reflected in reports. Lower dividends, lower taxes to Govt, job losses - you can't go back and fix this at this point in time.
- Massive reductions in stamp duty revenue
- Wider weaknesses in building industry, job losses
- Royal commission reporting had massive impact on consumer sentiments, everyone is expecting a crash and spending less on credit cards, new car purchases and electrical goods purchases. This is already looking like a very bad year for retail.

Lesson: Don't fix if it ain't broken in the first place

 

oh man

I want to listen to you actually sing it at next meet up,

 

Get me drunk and anything's possible.

 

You'll probably be running up and down the Great Western Hwy starkers singing at the top of your voice.

 

Not correct,

You can get a camper trailer like that for around $4000 on Gumtree. Sometimes much less.

 

I am not hoping he wins this case ,if he does ,then even more tighter lending restriction will follow

 

was wondering if it's a good time to be a compensation lawyer and take advantage of this opportunity.

 

This is called “going with the trend”.

 

I just need a litigation funder -- who I can also sue later for irresponsibly lending me money.

 

Could be somewhat balanced by billions to be spent on infrastructure, but hard to say once negative sentiment gets going...

 

looks like a 2008 D22 Navara, also known as the "Hand grenade"

 

No shortage of idiots in this case , including the clowns that gave someone in their mid 50s, a loan for $165k on a $43k income, that was self employed and in a manual handling job
For a lot of people that lose their jobs in their 50s , they are in the hardest age brackets to find work again, let alone someone doing a manual handling position.
Sounds like a few lies were told by a few people and a few more incapable of actually doing their jobs.
And his repayments in 2012 may have been around $250 a week , paying around 6.5% in interest , and bringing home about $750 a week , with no sick leave, holiday leave or any other entitlements to fall back on, as he is coming to the end of his working career and surrounded by fit young blokes that can work 10 hours a day.