Have to agree with you Dangerous. 👍 During those early 70s, the way the property prices were going up it was difficult to save enough per month just to keep up with the increases. In 1988, interest rates were in the high teens in other countries as well (UK) so it certainly can't be blamed on any one political party of the time but I guess it's great sport to have a go at them regardless! Maybe just greed from all sides of the equation?
The mortgage borrowed couldn't exceed 1 weeks wages per month AND it was only taken on the males wages as well with most lending institutions.
The other "norm" these days is that no-one can move into a house unless every bell and whistle is in place regardless of cost.
How times have changed!
DH
PS. And most only had one car which meant that nights and weekends were spent on repairs just to keep on the road so you could get to work ................ Memories of the old Notches and SBacks with no brakes, broken clutch cables, fuel pumps etc etc. Lucky there wasn't the traffic volume as there is today!
dangerous wrote:Yes things were tough in the eighties,
but BEFORE Liberal got back in my home loan rate was already down to 7.25% .(1994)
Ditto, mine was 6.9% in 1996
LIFE IN THE LOW LANE wrote:I cannot believe that people fall for all the propaganda and bull crap that is aired on TV before an election and then they are dumb enough to go and vote for Kevin Krudd.
Exactly right. Nobody wants to kiss your baby until election time. But why is Labor propaganda any less believable than Liberal propaganda?
Yogie wrote:I lost my home under 19% interest rates that came about under the leadership of labor and will never vote for them again.
Yogie
Lucky you didn't own it when little "Johnny" had them at 22% then...
If the government could really "controll" the intrest rates I think the Howard government would have done so.
HOORAY for democracy!
people have not realised that today we actually live a global world, not some closed shop that pauline would want as was the case some 19% interest rate time period in history..
wake up and smell the coffee in jamaica as as we are closely aligned with the US (51st state n all) if the US has those kind of % rates so shall we, really do you think that will come with the 'never ending war machine' in action since the 'ploy' of 9/11?
thank f#$k those pricks have been given what they deserve a good kicking up the ass.. look at em after the caneing pissing off as they dont want to play no more.. leaders of tomorrow BS.. costello the slimey prick cant handle it so wants to go home to mummy.. freakin sook
now for the fun over the next few weeks to observe the implosion of the liberal party and that some astronomers will see falling stars all over Australia..
11.5 years is way too long of the same 'team' (individuals 'forced' to be together) for any country still touting the same shit as was in '96,
reds under the bed, unions are bad, cant manage the economy etc etc etc
if you really wanted the same old same old you need a taste of post WWII USSR wher you had no choice as to what 'you' wanted or were 'allowed' to do..
then you would no doubt be more than happy with our system of government and institutions in place..
bemoan all you want im happy that that little prick got what he had coming!
fractal geometry; the inner most limits of mind altering abuse
This is another example of labor pulling the wool over peoples eyes. Bank mortgage interest rates were NEVER at 22% under howard. Personal loan rates were and that is what the labor supporters have been pushing to try and hide their woeful economic credentials and muddy the waters. Then people pick up on what they are saying without really knowing and pass it on as truth when in fact it is far from it.
Yogie
MickH wrote:
Yogie wrote:I lost my home under 19% interest rates that came about under the leadership of labor and will never vote for them again.
Yogie
Lucky you didn't own it when little "Johnny" had them at 22% then...
If the government could really "controll" the intrest rates I think the Howard government would have done so.
When I bought my first house the rate was above 19.5% and labour wasn't in "power"..... Our intrest rates have been too low for too long.They will go up regardless of who sits on Bushes lap. Good time for investing...😵
Yogie wrote:Bank mortgage interest rates were NEVER at 22% under howard.
Yes they were. It is just that at that time banks were regulated. Fraser enacted a cap on mortgage rates. An action which initiated a new inflationary spiral.
Deregulating the banks has allowed them do pretty much do as they please. Unfortunately that was the only solution at the time, along with floating the dollar as it isolated Australia from the Asian meltdown.
MickH wrote:Our intrest rates have been too low for too long.They will go up regardless of who sits on Bushes lap.
And up they will go, not in months, but in a few years, along with inflation and unemployment. Not because of the government of the day (Australia's get out of jail cards have been used up) but because of the two countries who have been responsible for the boom of the last 7 years. India and China.
China's dollar is far far undevalued. India is already starting to feel the effects of a skills shortage, with the same not far off for China. When that shortage hits both India and China and they are forced to float Australia will be in for a huge shock.
Politics has to swing back and forwards. The libs come in and look after money and the economy etc, then labor comes in and looks after the people - education, health etc. It's the way politics works.
It was time Johnny left, he's had his turn.
No they weren't. Even your answer says they were regulated/capped which seems to try and excuse why they were not as high. It was personal loans that were that high. Under labor at the time our mortgage was 19%, personal loans were nearer 30%.
The Asian meltdown happened when Howard was in power. That was with deregualted banking and a floating dollar. What insulated us was our economy was in surplus and public sector debt was being reduced and the economy was being well managed.
Yogie
HotRodMatt wrote:
Yogie wrote:Bank mortgage interest rates were NEVER at 22% under howard.
Yes they were. It is just that at that time banks were regulated. Fraser enacted a cap on mortgage rates. An action which initiated a new inflationary spiral.
Deregulating the banks has allowed them do pretty much do as they please. Unfortunately that was the only solution at the time, along with floating the dollar as it isolated Australia from the Asian meltdown.
Bugger all is going to happen until the middle of 2008 anyway because that's when the newly elected senators start. Until the 1st of July '08 the Libs will still have a majority in the senate, I'm sure they will take great pleasure in blocking all but the most basic of bills until then.
Yeah screw the so called "liberal" Bush licking, asset selling, LYING, facist, rich loving, over taxing under spending, self generous, 69% super stealing, out of touch, unemotional, war mongering, polluton tollerant, education blind, medicare hating, greedy money grabbing, pack of cunts. I hope they rot.
syncropro wrote:Liberal/Labour - same coin different side.
Everything in politics is planned. (Not by politicians)
A quote I saw - "Australia - Land of the Gullible"
Very True! Left wing- right Wing .... Wings on the same bird!!!!
GST comes to mind.......Keeting tried to introduce it,Coalition were against it, -Labour lost the election......... 🤪
Libs intoduced it in 2000 funny that!😂
On a brighter note: Some lenders have put, are about to put up Fixed Rates!❗
Looks like Hertz only repeated the dictionary description of the Liberals. If you do a seach under any of the words he used it takes you straight to liberal.losers.com 😵💫
At least our governments can be removed without a rebel insurection. No blood, no bullets is the always best.
Matts on the ball, the accelerated growth in China is, and will continue to put pressure on the incumbent world market forces. Liberals can point to leaving Krudd with quite possibly the strongest economy in the world. Shame they are so shit house with funding the basic infrastructure the country needs like social services, health and education ... the problems Krudd faces are whether or not he delivers on education and skills investment now ... our economy is strong because Howard hold the purse strings tight ... its fine saying time to let loose and fix school, hospitals (kiss babies) etc., but there is an inherent risk that short term pressures to please unions and stay in power will prevent any serious long term plan to compete in the changing global economy.
Be very brave to set out a 10 year plan ... cause the investment would be huge ... 1 computer per kid in schools ... give me a break, DET school technology is so under funded and out of date its not funny - and so is the DET view of how technology is used in schools. Its one thing to talk up '21st Century Learning for our kids', but honestly - you insane if you think he's gonna deliver on that in 3 years or so. I've got Labour coming out to my school to 'talk tech' tomorrow (seems we're a model school, though Catholic not DET). Can't imagine how this poly will begin to understand edu-tech needs, so hard to see how in an hour or so she's gonna relate to it as per the touted policies.
I did notice today they are talking about 'giving every Aussie kid 'access' to a computer' - wtf is that? there is a mandated funding policy in place for PC/kid ratio already ... what it doesn't address is tech skills, support and infrastructure ... most DET schools have ZERO computer support, so how schools are gonna train kids to work in the world 10 years for now (jobs that probably are not invented yet) is beyond me ... we could send them to factories ... oh hang on, anything we make can be made in China for chips (strike that idea).
Even Holdens are really Daewoos or Kias in disguise ... can have an economy unless you make things people want to buy. Batten down the hatches ... Howard or Krudd, the party will come to an end ... even Howards tight fisted economic management wont fend off what is coming, and by all accounts its not that far away.
Krudd has a lot to deal with, dogma of Unions in the 70s/80s and he growth of Asian Economies ... its a fkin tall order for anyone I reckon ... you've never had it so good!
hmmm massive surpluses n underfunded education and heath services.. well f#ck me its my money those pricks hoarded for the past umpteen years and 'tried' to use it to buy all n sundry off to be put back into office..
thank f$ck that finally people have woken up and seen how in micro terms the society is heading into oblivion as is the US..
uneducated and many homeless abound.. no wait thats this country..
maybe now the rectification can begin..jeeesus lets actually spend spme $$ where it is actually needed and will be benificial..
shit doesnt take a quick fix say between elections as the liberals would have you beleive, it is long term building that creates collective wealth in society that all within this country deserve to attain and enjoy as many on here do..
basic fundaments of a fair go..
im not advocating stalinist cental planning however a medium is required n really 10 years isnt that long in the history of the world to further a society to narrow the divide that has enveloped this country especially over the past decade..
thems the facts n its not immune to here so i do hope that we as a people can set an example to other liberal democracies to hopefullty raise the bar so others may emmulate and learn from asociety that has finally woken upto itself..
its not all about having the fastest red ferrari in the muti garage now? we drive vws, the peoples car for cripes sakes..
fractal geometry; the inner most limits of mind altering abuse
h wrote:hmmm massive surpluses n underfunded education and heath services..
Hi
Thats a state issue, but NSW has been spewing about the huge slice of the GST pie that Qld gets in comparison.
Maybe now that we have comrades in all states and federally as well, we will get a GST rise?
The media made a big deal about Kev driving his son to school in his Prias, a car that doesn't produce much pollution now, but it would have made heaps when being produced, my old bug must be carbon neutral now it was made so long ago.
Anyway we all treating this like a big football match and how great our teams are etc. I just hope that Australia is winner.
Neither party did say anything about infrastructure for the future, lets hope we get something going on water conservation and not build silly desalination plants like Morris Dilemma is doing in NSW.
