According to the Mortgage Choice First Time Property Investors Survey, Gen Y property buyers are more likely to go into debt to buy an investment property rather than buy a house to live in.
They also found that we Gen Y’s are:
- increasingly driven to save for their first purchase,
- making lifestyle sacrifices to save money for property,
- most likely to cut back on alcohol-related spending,
- change jobs for higher income,
- take on an additional job
- delay having children in order to save for a deposit.
In other words, we have to work very very hard and put off parenthood just to get a house because prices are so high and unaffordable and even then we’re not living in them.
According to WordStream, Inc. you can see that Google are raking in a huge amount of money from the insurance industry where there’s heaps of competitive brands vying for the big market of people needing a plethora of insurance products such as travel insurance, home insurance, renters insurance, health insurance, life insurance, income protection, private mortgage insurance, extended warranties, purchase insurance and medical coverage. Many of these insurances are never needed, but Google don’t mind when they make about $54 per click.
- Abstract thought is insane. You can’t make something from nothing and there’s no getting away from that. Engineers create useful things whereas Financial Engineers create illusions.
- Don’t make things complicated (derivatives, CDO’s and CDS’s etc.)
- Truth telling is key. Where this breaks down lies persist. The credit rating agencies needed to report the truth, the Professors of business schools should have been disclosing who paid them to speak and write, the banks should have had integrity and responsibility.
- The moral integrity of political leaders, educational leaders and heads of the financial industry is paramount. Personal and corporate self-interest and greed that drives behaviour leads to massive corruption. e.g. pervasive use of prostitution, drug use and even the fraudulent billing of prostitution as business expenses in Wall St and Washington.
- Predatory lending to unsuitable people is oppressive.
- Crimes cannot be overlooked, those who have done wrong must be punished. None of the bank bosses have been charged. Compare this to the Savings & Loans Crisis in the 70′s where financial exec’s where jailed.
- Warnings must be heeded. See Raghuram G. Rajan’s 2005 paper ‘Has Financial Development Made the World Riskier?’ and Charles R. Morris’ book The Trillion Dollar Meltdown and others.
Click image to enlarge: . [Source: Solar Panel Free Quotes]
Interesting infographic on the poor man’s gold.
World finances are still fragile, America is in danger of a double dip and the Australian government has introduced a deeply unpopular resources tax on mining. Quietly, the price of gold has been going up and up as savvy investors have been moving investments into gold stocks:
[Source: Online Savings Accounts]
The following is a guest post by Frequent Flyer Credit Cards, a travel website for travellers wanting to earn points on airline programs such as Qantas Frequent Flyer, Singapore Airlines Krisflyer and Virgin Blue Velocity.
Flying used to be so much easier and safer. As long as you had your ticket, got to the airport on time, and didn’t run into any bad weather, air travel was relatively straight forward.
In the last decade however, things have changed, and changed dramatically – mostly thanks to Islamic terrorists and their associated threat to the airline industry. On the run up to 9/11 nine years on from that horrible day, we’re speaking out about how things have gotten more difficult for the 100′s of millions of passengers on their way to somewhere around the world.
Whether you are a Christian, Buddhist, Muslim, or are secular, it’s hard to deny that when it comes to modern flight security, the majority of the inconvenient procedures we must encounter when traveling the world over are due in large part to the activities of (ed. murderous) Islamic terrorists.