Young people can't afford a first home (most)... Their parents "the boomers" have equity and superannuation..
The banks are actually selling now mortgages backed by boomer equity.. They are even advertising and encouraging kids and parents to do this.. The power of suggestion..
Markets are due for a very very big correction sometime in the next decade... A correction yet to be seen in history thanks to the carpet under the rug treatment of the 2008 crash.
The after math?? A very sneaky transfer of boomer wealth to the banks and their cronies, rather than their would be inheritors.
Only thought of this when my mum mentioned she couldn't get money for some extensions she wants to do on her house because she doesn't have access to her super until she retires (in another 8 years!!!) she's already 60.. But the banks gladly gave her a loan backed by her super to do her extensions.
Discuss
The banks are actually selling now mortgages backed by boomer equity.. They are even advertising and encouraging kids and parents to do this.. The power of suggestion..
Markets are due for a very very big correction sometime in the next decade... A correction yet to be seen in history thanks to the carpet under the rug treatment of the 2008 crash.
The after math?? A very sneaky transfer of boomer wealth to the banks and their cronies, rather than their would be inheritors.
Only thought of this when my mum mentioned she couldn't get money for some extensions she wants to do on her house because she doesn't have access to her super until she retires (in another 8 years!!!) she's already 60.. But the banks gladly gave her a loan backed by her super to do her extensions.
Discuss
Time hides Nothing