Olfart wrote: It's only "paper" money and I think the banks are about to be advised against lending up to the full amount of QV assessed values...at least until the full effect of these values is known. If it were me I would be playing safe and separating my wants from my needs... |
Garry 23041 wrote: I remember when they started loaning 100% in the States when I was living there and buying property. I took out a loan and got a rental but plenty of guys I knew had new Harley's sitting in the drive or a motorhome or some such. Before that it was 75% max on a 30 year note. Last I saw before I sold up and came back here you could get 110% for a while there!! Not sure about current. I do know that after the sub prime disaster on housing they switched to sub prime lending on anything with a motor in it and there are once again billions of dollars out in sub prime lending. Don't think the bankers won't take the whole economy down for ever for a short term gain because they will. |
the angler wrote: You only live once . |
whippersnappyr wrote: Not a good idea to borrow money to buy anything other than a house in my view, least of all a boat |
OneWayTraffic wrote: Of course take that reasoning to the extreme, and we'd all be in dinghys towed behind bicycles, and sitting down to eat our spotties on tea crates in front of our B&W TVs. |
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