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  1. #1
    Join Date
    Jul 2003
    Kapiti in New Zealand

    Default "More money goes on homes" then "Loan defaults on the rise"

    Had to laugh at this...

    News.com.au had this article

    "More money goes on homes"

    THE number of Australians expected to buy their first house in the next year has jumped by 6 per cent, despite falling housing affordability, a survey reveals.


    Then on the same web page this article was next!

    "Loan defaults on the rise"

    AUSTRALIA'S leading mortgage insurers are feeling the pinch from higher interest rates and rising home loan defaults, after insurance claims from banks and other lenders soared more than 500 per cent last year.

    The two big mortgage insurers - Genworth and PMI - were hit by sharp rises in claims from home lenders according to 2006 accounts filed with the Australian Securities and Investments Commission.



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