OldBushie
Ditto, and I'm (well the missusOriginally Posted by BigJon
) making that choice in the next 12 months
Master
try paying a mortgage on one average wage with 2 kids - and eat !
I'm doing it, with 4 kids. But I have 1/2 the average mortgage on the average income. It is pretty easy still. But we don't have an extravagant lifestyle (by auatralian standards)
I have cousins in europe who will never own a home, that is the province of the very wealthy
OldBushie
Hehe, thats funny, people crying about someone willing to lend them money, what a joke, "fools and their money............."I think if I tried hard enough (and had the inclination) I could go out and buy some crack or heroin. Am I being a dickhead for buying it or is it the drug dealers fault for selling it.
Someone mentioned it before but perhaps better education or some sort of 'life skills' subject in High School would be good but ultimately while there is demand in this end of the credit market there will be supply. I agree with the sentiment that there is no one to blame for anyone’s financial situation but themselves.
Thanks for an interesting topic
ChatterBox
Just out of curiosity - whats a mortgage ?
OldBushie
"tis funny this topic, I have mates who cry, you can only do that cause you earn so much, I've offered these people T/A positions in the past, but none can be bothered, I literally take home twice the pay of some
Laziness
Last edited by rovercare; 29th February 2008 at 10:29 PM. Reason: Fix illegibubble drivel
Master
crying about the banks willing to extend credit to people who aren't in a position to make repayments if things are less than ideal.
look at what is happening in the US. Free Market free for all can crash everything if it only monitors short term profit.
ForumSage
Is that a serious question?
A loan to an individual or business to purchase real estate, in which the real estate itself serves as collateral for the loan.
How's that?
ChatterBox
No Jon - I was being a little facitious
ForumSage
No worries, it is hard to guage intent on a forum when you can't hear the way the words are said.
Super Moderator
I am not talking about good and successful business people who create wealth and employment.
I am talking about corporate spivs who get parachuted into chief executive positions of companies whos sole aim is the asset strip profitable businesses and frequently do this by wholesale reduncies of hundreds and thousands of employees. They pay themselves multi million dollar bonuses as a result of unemploying thousands of families.
Was it Credit Suisse this week where the current CEO has presided over a company that went from billions of dollars in profit last year to millions of dollars in losses this year, so much so that it is having to sell equity to oil rich trillionaires yet the CEO still gets paid was it 26 million Euros in bonuses and a golden parachute.
Even in companies within Australia we get similar CEO spivs dumping 8.4 million of his own shares without telling the market till the last moment because ABC Learning may be going bad. The whole executive of that company dumped the majority of their shares worth tens of millions of dollars without telling the market so the ordinary shareholders may well be left holding the bag and maybe even childcare workers losing their jobs. Time will tell.
That is the sort of thiefdom that I am talking about.
You won't find me on: faceplant; Scipe; Infragam; LumpedIn; ShapCnat or Twitting. I'm just not that interesting.
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