Is Scott Morrison asleep at the Wheel?
The chart below shows that with a stroke of the pen APRA have excluded the average voter from accumulating assets to become self-funded retirees.
Is Scott Morrison aware these credit restrictions are creating a whole generation of poverty? This will be a permanent drain on the budget. Far worse than the 2050 report predicts.
Under the first scenario, the investor holds the property for just a few dollars a day when the $4K interest bill is offset with the right tenant, property, and funding.
Many, many would be wealthy and can use this method to retire wealthy. At the same time, they are creating a huge tax flows to local, state and Federal coffers.
Why is Scott Morrison now preventing this?
Under the second scenario, only the very few highly paid can look to self-funded retirement. It is only the top 2% of wage earners that can satisfy this ridiculously high invented rate barrier. This is now set at 500% higher than the cash rate.
Why aren't the media questioning the logic behind this credit squeeze? This is the same media that didn't question the RBA's foolish rate increases that saw unemployment sore from 4.3% to 6%. Foolish increases that saw a million people lose their jobs to rely on unemployment benefits. Your Club picketed every RBA office around Australia for 6 months. Mainstream TV picked up our protest but the financial media did not!
RBA eventually saw that they had wrecked the economy and did the biggest reversal of rates in Australia's history. But the damage was done and we still have near 6% unemployment thanks to RBA incompetence. Now we have APRA doing their demolition of the economy, where are the media?
If you are hurt by the bank's actions simply send a short bullet point of your hardship and send it to me via your mentor. I believe I can help you.
Kevin Young
In the wake of ex-Tropical Cyclone Alfred, which brought Brisbane its wettest day in 50 years with over 420mm of rain in some suburbs and winds reaching up to 60 km/h, the city faced significant recovery challenges. Despite the extensive damage, including power outages affecting over 56,000 homes and businesses,...
Stamp duty isn’t the most exciting part of buying property, but it can seriously shape what you can afford and how quickly you can grow your portfolio. A national report by SQM Research for the Real Estate Institute of Australia (Stamp Duty: The Relationship to Australian Housing Affordability and Supply, October...
EOFY is coming, and most Australians are getting ready to tick the box, lodge the return, and move on. But smart investors know this isn’t just the end of a financial year — it’s a checkpoint. This is your chance to stop handing over more tax than you need to. And property could be the most powerful tool you’re not...
Our mission is to help the average Australian learn the property market dynamics and discover the amazing opportunities that exist in real estate.