An honorable member of the Coffee Shop Has Just Posted the Following:
"Over the past few years, over 40 per cent of all new mortgages originated have been interest-only mortgages.
"This is truly Ponzi financing, where home buyers only make money if their houses keep rising in value," he writes, later describing interest only loans as a "disaster waiting to happen."
Read more: http://www.smh.com.au/business/the-e...#ixzz41UtNSGvK
Follow us: @smh on Twitter | sydneymorningherald on Facebook
Click here to view the whole thread at www.sammyboy.com.
"Over the past few years, over 40 per cent of all new mortgages originated have been interest-only mortgages.
"This is truly Ponzi financing, where home buyers only make money if their houses keep rising in value," he writes, later describing interest only loans as a "disaster waiting to happen."
Read more: http://www.smh.com.au/business/the-e...#ixzz41UtNSGvK
Follow us: @smh on Twitter | sydneymorningherald on Facebook
Click here to view the whole thread at www.sammyboy.com.