Alan Kohler has been lied to, most likely by deceit lying Bankers. Nothing
to do with brokers/sellers of mortgage products. Brokers are forced to
use bank service calculator and SC "must be attached to the LAF or we
will not process your deal". Sellers have no idea its a MANIPULATED
TOXIC calculator. ASIC gave Bankers written permission to use this
"fudging income tool" in 2005 signed off by Brendan Byrne after ASIC
gave in to LEAN ON PRESSURE from BANKS.
The Calculator is a bank computer program engineered by the members
of THE AUSTRALIAN BANKING CARTEL. See CO 1122/05. Customers of
banks like lambs to the slaughter, so were parents of brokers. Bankers
stole their homes also. 55% of toxic loans sold by BANK MANAGERS and
Officers. ASIC trying to demonise brokers as another favour to Bank
CEO's to flick the heat onto the innocent. Brokers need to protect their
own positions and fight back y joining hands with customer victims.
Alan needs to stop listening to bank and ASIC, FAKE NEWS.
Kohler turns to housing fake news
at 10:17 am on February 20, 2017 | 15 comments
By Leith van Onselen
http://www.macrobusiness.com.au/2017/02/kohler-turns-housing-fake-news/
Alan Kohler has created a new scapegoat for Australia’s housing affordability woes: the brokers. From The Australian:
The political debate about housing affordability focuses pointlessly on supply and negative gearing: the Coalition says supply, Labor says negative gearing…
Both ideas are placeholders designed to give their advocates something to say at doorstops…
But they could do something about the incentives in the system.
All three types of professionals involved in housing — the mortgage brokers, the real estate agents and the buyers’ advocates — are incentivised to get prices up, and as Warren Buffett’s offsider, Charlie Munger, said: “Show me the incentives and I’ll show you the outcome”…
The agents on both sides of housing transactions are paid a percentage of the price and the financier is paid a percentage of the loan.
Home buyers are lambs to the slaughter. Even seasoned property investors only buy occasionally and owner-occupiers do it rarely.
So all of the professionals engaged full time in the real estate industry have an incentive to push house prices up; none wants them down.
And all of those complaining about housing affordability are either watching from the sidelines, or are the lambs being slaughtered.
It’s all the brokers’ fault, hey Alan!
Housing affordability has got nothing to do with Australia’s perverse tax settings that incentivise speculators, push-up home prices, and crowd-out would-be first home buyers?
It’s got nothing to do with the foreign buyers hoovering-up homes in our major capitals?
It’s got nothing to do with the federal government’s mass immigration program, which has flooded Sydney and Melbourne with new residents, exacerbating the imbalance between supply and demand, and crowding-out incumbent residents?
And it has nothing to do with the artificial restrictions on land supply and the under-funding of infrastructure, which has caused the rampant escalation of vacant land prices?
In short, it has nothing to with supply or demand or economics or planet earth.
It’s fake news!