APRA Wrecking Ball

In October 2008, with the Rudd Financial Crisis, applications for the pension went up 50% month after month as people who were self funded retirees suddenly found they were not!!

Now we don't have a Rudd Financial Crisis we have an APRA Financial Crisis wrecking people's self funded retirement dreams!"

All Australians buying property under APRA's direction now have to pay 45% more to the banks for the same loan. Most can't find this money. Most are intelligently set up on interest only under the sound business advice from their accountant or advisor.

All of this money is tax deductible. The 45% increase is not.

These loans come from the banks who don't repay principal and interest! They pay interest only.

Mr and Mrs Smith for example, were comfortably handling their repayments on their home and investments. They were looking forward to these investments growing in value to enable them to avoid the pension.

Now BAM! The bank wants 45% more and they can't find this extra cash! For the last twelve months they have been dipping into their savings. This is showing up on national figures and the reason we have record underemployment.

Lack of spending is causing one in seven people to take home less money than they want or be unemployed completely. Only increased retail spending can change this.

APRA are attacking retail spending. APRA are causing well setup future self-funded retirees into financial crisis right now.

With dwindling savings their only option is to sell down their assets and join the long pension lines.

Normally we would have an alert Treasurer who would be aware of this financial disaster and consumer recession. In the past, Liberal Treasurers have forced banks to pass on rate cuts. Our Treasurer has not. In contrast our Treasurer has encouraged the banks to do the reverse and hike rates.

APRA in June 2015 blundered into a recovery economy (GDP) and is causing a recession. All of this while our federal Treasurer is asleep.

Since Rudd we have seen the greatest transfer of wealth in Australia's history from consumers to a banking monopoly.

How can you avoid these growing pension lines?

You have been advised by your bank to sell down to meet higher repayments. Don't! Contact your Mentor. We are working hard to get a solution for you.

This is your opportunity to get away from the greedy banks. Your opportunity to not only consolidate your retirement plans but increase them.

Now is the time to buy.

Why?

Wayne Byres, Chairman of APRA, doesn't realise he is drastically reducing supply of dwellings. If you want to increase the price of bananas simply reduce the supply of bananas.

Across two States we have three hundred and eighty two construction sites that are stalled. No jobs being created, no supply to satisfy our rising demand for accommodation.

Byres doesn't understand that each year we need as many new dwellings built as currently exist in Canberra.

This dwindling supply but rising demand is your opportunity.

We have gathered together over $1 billion in funding already approved for you. We are going to these stalled builders and helping them stay in business and create jobs - but only if they give you some fantastic deals.

They have to do this to stay in business. We are in a real recession. These see many builders go bankrupt unfortunately.

The current recession is masked by exports income from coal and iron. When was the last time you took a lump of coal into Coles to buy your food? Or, a lump of iron to pay your mortgage?

Mr Treasurer, ignore your Treasury advisors who are famously always wrong!

When will our Treasurer Scott Morrison start talking to the millions of victims of APRA? When will the media pickup on the misery being inflicted by APRA?

When do you think our Treasurer will take action? If like me you don't want to reply on politicians, take action now to protect yourself and your future.

Contact your Property Mentor

We are all standing by to help you.

Kevin Young