What would you do to become debt free?

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blacklab99
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Re: What would you do to become debt free?

Postby blacklab99 » Sat Jun 16, 2018 11:58 am

Not for commercial properties, land tax starts at alot less than that.


Col



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Re: What would you do to become debt free?

Postby smile0784 » Sun Jun 17, 2018 9:05 am

Sorry my mistake

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Re: What would you do to become debt free?

Postby rb85 » Wed Jul 11, 2018 9:50 am


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bowl
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Re: What would you do to become debt free?

Postby bowl » Wed Jul 11, 2018 10:20 am

:a_goodjob:
rb85 wrote:http://mobile.abc.net.au/news/2018-07-11/up-to-1-million-households-may-go-into-mortgage-default-by-sept/9976268

Talk about people over committed on their loans.

So who's fault is it, banks for lending the money or people streching to themself to much on a loan.

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Mattblack
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Re: What would you do to become debt free?

Postby Mattblack » Wed Jul 11, 2018 10:31 am

rb85 wrote:http://mobile.abc.net.au/news/2018-07-11/up-to-1-million-households-may-go-into-mortgage-default-by-sept/9976268

bstorm.jpg
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Kimtown
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Re: What would you do to become debt free?

Postby Kimtown » Wed Jul 11, 2018 10:47 am

bowl wrote::a_goodjob:
rb85 wrote:http://mobile.abc.net.au/news/2018-07-11/up-to-1-million-households-may-go-into-mortgage-default-by-sept/9976268

Talk about people over committed on their loans.

So who's fault is it, banks for lending the money or people streching to themself to much on a loan.

A lot of banks wont loan to people who are over capitalized even if their current investment propertys are positively geared

Which is stupid af



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Brett
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Re: What would you do to become debt free?

Postby Brett » Wed Jul 11, 2018 1:09 pm

bowl wrote::a_goodjob:
rb85 wrote:http://mobile.abc.net.au/news/2018-07-11/up-to-1-million-households-may-go-into-mortgage-default-by-sept/9976268

Talk about people over committed on their loans.

So who's fault is it, banks for lending the money or people streching to themself to much on a loan.



It’s not like the old days where people save up for things.

The amount of younger people that are in debt and have financed everything they own(well technically the bank owns) is absolutely absurd.

We have 18 and 19yr olds driving round in 60 and 70 thousand dollar cars, with jet skis or boats in tow. Which have also been heavily financed.

It’s been to easy for ppl to get loans for way to long, I’m certainly not going to bail my kids out if they over commit, which I hope they don’t, but you never know.

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Mattblack
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Re: What would you do to become debt free?

Postby Mattblack » Wed Jul 11, 2018 1:45 pm

Brett wrote:
bowl wrote::a_goodjob:
rb85 wrote:http://mobile.abc.net.au/news/2018-07-11/up-to-1-million-households-may-go-into-mortgage-default-by-sept/9976268

Talk about people over committed on their loans.

So who's fault is it, banks for lending the money or people streching to themself to much on a loan.



It’s not like the old days where people save up for things.

The amount of younger people that are in debt and have financed everything they own(well technically the bank owns) is absolutely absurd.

We have 18 and 19yr olds driving round in 60 and 70 thousand dollar cars, with jet skis or boats in tow. Which have also been heavily financed.

It’s been to easy for ppl to get loans for way to long, I’m certainly not going to bail my kids out if they over commit, which I hope they don’t, but you never know.


Totally agree. A lot of people have been refinancing their mortgages as the property value goes up as well...fine if you are adding value to the property, but most do it to buy a new car or go on holidays. Trade wars, inflation, low wage growth, rising interest rates....batten down the hatches, it's going to be a rough ride!

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Re: What would you do to become debt free?

Postby rb85 » Wed Jul 11, 2018 2:30 pm

Brett wrote:
bowl wrote::a_goodjob:
rb85 wrote:http://mobile.abc.net.au/news/2018-07-11/up-to-1-million-households-may-go-into-mortgage-default-by-sept/9976268

Talk about people over committed on their loans.

So who's fault is it, banks for lending the money or people streching to themself to much on a loan.



It’s not like the old days where people save up for things.

The amount of younger people that are in debt and have financed everything they own(well technically the bank owns) is absolutely absurd.

We have 18 and 19yr olds driving round in 60 and 70 thousand dollar cars, with jet skis or boats in tow. Which have also been heavily financed.

It’s been to easy for ppl to get loans for way to long, I’m certainly not going to bail my kids out if they over commit, which I hope they don’t, but you never know.



Don’t think over committed is exclusive to the younger generation.

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Re: What would you do to become debt free?

Postby Bayrock » Wed Jul 11, 2018 2:35 pm

Mattblack wrote:
rb85 wrote:http://mobile.abc.net.au/news/2018-07-11/up-to-1-million-households-may-go-into-mortgage-default-by-sept/9976268

bstorm.jpg


Yeh I got a bad feeling.
Lots of pain on the way for the heavily indebted
Time for a lot of people to learn a hard lesson about the nature of debt.
I.E. it will come back to bite you in the azz
Last edited by Bayrock on Wed Jul 11, 2018 2:50 pm, edited 2 times in total.



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