Australia Eases Lending Rules

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In a monumental shift in policy, Australia eases lending rules and has decided to do away with the credit Act and remove the responsible lending guidelines in a bid to open up the credit market. Back in August 13th, 2020, Property Magnets proposed a solution to the worsening economic crisis.

Here’s the excerpt from the particular part of the article I wrote back in August:

Indices up. Safe Havens (like gold) down. All the shorts picked up by SMART Money (because SMART money buys when dumb money sells) and the rest is history.

Now then… (in Alan Watts style), what is the sum total of all this dirt?

It means, the market has become highly predictable now. More than ever before. The agenda is clear. Back on the 14th of July, I wrote about a possible second wave hitting NZ. Lo and behold, we’ve got it. She wants to postpone the election and if by super majority at Parliament, they agree to move it out to next year, then I will guarantee you that there will be more subsidies and money coming to every household in NZ. Why? Because she needs to keep those numbers (unemployment, Negative GDP etc.) down to stand a chance of winning a second term.

So what is the solution?
More money. Yes. I know, I’m traditionally against QE but this is not the time to hold back. Banks must be INSTRUCTED, not advised, bloody INSTRUCTED to open up credit.

So its good to see that Josh paid attention to this narrative and with more pressure of a similar kind from other respectable and awake market commentators, has decided to do away with the responsible lending guidelines.

What does this mean for you?

Well, expect to see refinancing and borrowing to buy properties get a tad easier. If I was you, I’d stop reading this article, signup for the webinar below and then pick up the phone and call your friendly mortgage broker to see how you can buy 15-20 properties in a space of 7 or 5 years or less.

Remember, the trick isn’t just getting access to money. It’s also about finding the right properties, in the right location, at the right time – which is what you will learn in the webinar.

It’s free. Sign up. If not now, then when?

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