I have heard PNG Nationals call hellicopters “mix-masters belongem Jesus Christ” and I am now concerned that some of them appear to be pilots of these mix-masters.

I am a little confused; people who have over extended themselves are being helped. Why?

Nobody made them try to live out the Australian dream? Is it my fault that Mary Jane’s dream to have the perfect house, husband and kids in the perfect suburb was totally unrealistic? Did she not consider the fact that interest rates can and are likely to rise at any time? Did she not do the mathematics that on a $350,000.00 loan over a 25 year payback period she would be forced to pay back nearly $750,000.00 @ 7%.

I have read hard luck stories all weekend about the Heartland family here and the Dreamland family there. They sit there in the banks house and try and tell us that it is the banks fault and that the banks have “no heart”. After all they are just trying to achieve their god given right to achieve good old Australian dream of homeownership.

I don’t see why it is anyone’s problem but there own. They were greedy in their housing needs, neglected to explore thoroughly the worst case scenarios and are now going to have to learn that life is not about always having someone there to help you. You made your bed, now its bedtime.

I may seem heartless about this but my family learnt this lesson the hard way and vowed never to make the same mistake again and I believe we are better for it. I don’t see why this generations families should be exempt from learning the same life lesson.

If you don’t understand something about what you are doing or what society dictates you should do, go and buy a book about both sides of the argument. Read them and understand both points of view. You will then be far better informed than watching any current affairs show, who, 2 years ago were telling you the best suburbs to ‘buy’ in and now report on foreclosure hardship from all sides of the country.

Side discussion
I must admit I always enjoy hearing the story of the spruiking home owner who purchased their home 3 years ago for $450,000.00 (having borrowed $300,000.00) who sit back on there hands now with the value of their home hovering at $800,000.00 thinking that they have made a great profit. Forgetting that rates, insurance, maintenance and the cost of the home loan ie. interest also should be added as part of the “cost” of their home. Yes they have made a profit but its greatness is dependant on your particular point of view on profit.

Hey, if you own your own home more power to you. But please don’t call me into your office, sit me down and try and tell me where I have gone wrong in my investment practices against you, the almighty home buyer. Just as it costs money to rent a house and invest in securities it costs the same to leverage a bank loan and meet all of your other homeowner obligations.