After a busy time of late and plenty of interstate travel, I would like to begin by commenting on the technical non-event of Australia entering a recession and the growth of the Consumer Index and Level of Confidence now to be found in the market. I have recently sat down with many friends & clients here at Premium Finance Services Pty Ltd and also at a few external forums and the general consensus is that the country and the economy are in good stead. True, in the near future, statistics could indicate we enter into a recession, but in reality the entire Australian market is solid, should we not sell off the few remaining assets to offshore companies.
We differ so greatly to the USA and like the quote in Australian Property Investor Magazine June 2009, Pg12, “In the US, borrowers take out ‘non-recourse’ loans, that is they can walk away from their home and the lender has no way to recoup its money…. It’s in their interest to walk away because their liability for the debt effectively disappears.” Luckily the lending criterion is so different here and that our banks are ranked so high in the world system. In Australia approximate numbers would pertain too that 1% of all Australian Home Loans are non-conforming compared to the huge number of approximately 15% in the US!!!!
So let’s talk about the good news for clients that I have seen of late, again the Premium Finance Mentoring system is performing as per the process. With our client review team constantly completing their tasks of annual client review, I am luckily being able to assist more and more clients in upgrading and expanding their investment portfolios. As with all media and factual reports, this is the best time to be investing if your circumstances allow so why not take up a great opportunity today too make extra wealth for yourself.
Tags: Brisbane, Melbourne, Premium Finance, Premium Finance Services