When the northern hemisphere financial crisis hit, Obama moved to prop up the mortgage originators called Fannie Mae and Freddie Mac by some $251 billion as some mortgage holders left their properties and posted the keys back.
By keeping both these institutions alive with these funds the economy was allowed to continue breathing and instead of losing money the US Treasury has now seen this $251 billion returned in dividends from the living and breathing mortgage originators. What a shame that Kevin Rudd didn't follow this example of the US Treasury.
The US Treasury also supported their ailing car industry with billions of dollars of loans. These loans attracted interest and these loans kept people in their jobs. They were also paid with interest to the Treasury! Read about it here.
What did the poor Australian tax payer get out of Rudd's similar largess? Whoops, nothing!
Will our government learn from Obama?
I hope so.
Kevin Young Club Founder of Property Club
The Queensland rental market is set for a significant shake-up, and as a property investor, it’s crucial to stay ahead of the curve. The state's new minimum housing standards, which began taking effect in September 2023, are more than just a regulatory update—they represent a shift in the expectations tenants will...
Mould, it’s the unwelcome guest no one wants in their home. It’s unsightly, potentially hazardous to your health, and dealing with it can be a real headache. But when mould creeps into a rental property, the big question arises: Who’s responsible for cleaning it up, the tenant or the landlord? The answer isn’t...
When managing your mortgage as an Australian property investor, understanding the benefits of offset accounts and redraw facilities can greatly enhance your financial efficiency. Both tools offer strategic ways to reduce the interest you pay and accelerate your mortgage repayment, but they function differently and...
Our mission is to help the average Australian learn the property market dynamics and discover the amazing opportunities that exist in real estate.