Digital Finance Analytics (DFA) Blog
"Intelligent Insight"
I caught up with Roger Brown, @bankcustomers on Twitter, to discuss his perspective on the mortgage industry, and what has driven it over the past decades.
As an experienced business man, his insights are gold, but the banks will not like them. The future of the banking system and financial stability may be at stake.
How poor policy finally coming home to roost.
Go to the Walk The World Universe at https://walktheworld.com.au/
ASIC is taking ANZ to court in the last of the post Royal Commission actions and APRA reported on the latest bank financial data as new high debt to income ratio loans continue to climb.
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Australia’s biggest bank is suggesting people should team up together to buy property to relieve the affordability problem, and they offer a particular structure to do this. However, the risks of this approach are considerable – even worse than using the Bank of Mum and Dad, and their justification is tenuous give the small survey they are basing their releases on. A classic example of buyer should beware.
Housing affordability is a structural issue created by 30 years of bad policy. The approach of encouraging more people to borrow, despite the risks is concerning, and it does nothing to tackle the real underlying issues.
Personally I think it is irresponsible!
Go to the Walk The World Universe at https://walktheworld.com.au/
I discuss the latest on the ASIC inquiry relating to Sterling First with Robbie Barwick from the Citizens party.
Senate Economics References Committee inquiry Sterling Income Trust website:
https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/SterlingIncomeTrust
Citizens Party membership page:
https://shop.citizensparty.org.au/collections/memberships/products/party-membership
Go to the Walk The World Universe at https://walktheworld.com.au/
The latest edition of our finance and property news digest with a distinctively Australian flavour.
Today we look at how Congress is pushing for regulation of Crypto-currences, How Greensill Capital sold “future receivables” and how NAB sent out as many as 69,000 defective fee statements from its wealth division.
Go to the Walk The World Universe at https://walktheworld.com.au/
Picking up the story about the “scam” email from my bank, and what happened next. We reveal which bank was involved.
See our earlier post on this subject here: https://youtu.be/6_gR4HffhhQ
And thanks for subscribing to our channel – we just ticked over 55,000 – its appreciated!
Go to the Walk The World Universe at https://walktheworld.com.au/
APRA and ASIC have some out with more relief for the banks as they wrestle with mortgage payment suspensions. Can firmly being kicked, but what are the implications?
Domain released their preliminary results for today as the economic slowdown continues to hit transactions. They warn that “From Thursday July 9 the Victorian government placed a ban on public real estate auctions as part of social distancing measures to slow the spread of COVID-19. The number of auctions withdrawn in the immediate weeks following the ban are likely to be higher than normal”.
Canberra listed 34 auctions, reported 29 with 24 sold, 4 withdrawn and 5 passed in to give a Domain clearance of 73%.
Brisbane listed 58 auctions, reported 31 with 17 sold, 9 withdrawn and 14 passed in give a Domain clearance of 43%.
Adelaide listed 27 auctions, reported 15 with 11 sold, 6 withdrawn and 4 passed in to give a Domain clearance of 52%.
Mark your diaries, next Tuesday Robbie Barwick from the Citizens Party will join us for a live Q&A session. On the agenda is banking reform, bail-in, creation of a national bank, the cash ban, and much much more. You can ask a question on the night via YouTube chat, or beforehand via the DFA Blog.
The latest edition of our finance and property news digest with a distinctively Australian flavour.
DFA Q&A Live Tuesday 7th April 2020 https://youtu.be/9AQMbnbHZEA