GLOBAL SUB-PRIME CRISIS

BANKILEAKS

Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook
 

facebook3           facebook2 

BFCSA
MORTGAGE
DISTRESS SOS

What BFCSA Does...

BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

Visitors

Articles View Hits
468732

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Denise Brailey

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

BFCSA: Australian Property Market slumps into low-wage and low-inflation rut. RBA at fault for ignoring the Fraud

Posted by on in ROYAL COMMISSION URGENT
  • Font size: Larger Smaller
  • Hits: 232
  • 0 Comments
  • Print

Sentiment about real estate hits 40-year low: Just 1 in 10 see property as best investment

Domain Sep 13, 2017

Chris Kohler

 

Confidence in Australian real estate has dropped to its weakest level in over 40 years, with just 10.5 per cent of people now seeing property as the wisest place to put savings.

Overall consumer sentiment ticked 2.5 per cent higher in September but pessimists outnumber optimists for the tenth consecutive month, despite the Australian economy now notching up 26 years of unbroken GDP growth, according to the Westpac-Melbourne Institute consumer sentiment report for September.

Views on housing slipped to the lowest level since the index began amid concerns of a cooling market, rising household costs and stagnant wages growth.

The “time to buy a dwelling” sub-index grew by 0.8 per cent in the month but has slumped almost 13 per cent over the year, while real estate is now viewed to be the wisest place for savings by only one tenth of the country – 9 per cent nominated shares and 23.5 per cent favoured paying down debt.

The news will deal a blow to Reserve Bank optimism, with the board last week opting to leave interest rates on hold at a record-low 1.5 per cent while offering confidence that the economy will break out of its low-wage and low-inflation rut.

Weak consumer sentiment points to a soft public spending outlook and downbeat residential construction levels – dashing hopes of RBA rate hikes in 2018, according to Westpac chief economist Bill Evans.

“While those commentators favouring rate hikes next year point to record business conditions we are starting to see a considerable gap open up between business conditions and business confidence,” Mr Evans said.

“Persistent weak consumer sentiment, consistent with weak consumer demand, may be worrying businesses around the sustainability of current strong conditions.”

CommSec economists also see no change to official interest rates “in the foreseeable future”, with consumers remaining overwhelmingly conservative – despite Australia having now recorded the longest economist expansion by a developed nation.

“Aussie consumers still aren’t feeling the love,” said CommSec chief economist Craig James.

“The economy is expanding, business conditions are at decade highs but inflation is well contained. And, based on today’s data, the RBA needs to keep a watch on a cooling property market.”

Australia’s record household debt-load continues to weigh on the minds of policymakers, but the latest consumer sentiment figures indicate that concern is now increasingly shared by average Australians.

The national debt-to-income ratio currently sat at 190 per cent at the end of 2016, which ranks as the fourth-highest in the world after Norway, the Netherlands and Denmark, according to OECD data.

 

 

 

Last modified on
Rate this blog entry:

Comments