The Business – ABC News
In this interview with Ticky Fullerton, Roger Montgomery discusses the sharemarket, the Australian dollar and the RBA’s decision not to cut rates. What does this mean for mortgage holders and the big banks?
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Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
Carlos
:
Also the tax rort of negative gearing, inadequate housing supply, too easy for overseas people to buy here and excessive immigration into our country whose population is excessively concentrated in 2 or 3 cities. These are all failures of government policy which could one day be amended although I’m not holding my breath
Lucas Hainsworth
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Roger (or team), can I ask – there’s a lot of good chat on here about banks being utilities, overpriced, housing market risks.
Do the staff not have mortgages, are they all renting and hoping for a bit of a correction in pricing so that they can buy?
It’s one thing to look at it from the perspective of stocks, roe, dividends and capital ratios, but what are your guys doing about housing, living and raising their families (which I assume they have).
Obviously you don’t need to give financial details etc, but just interested as to what the alternative approach is to this.
I mean I agree with your core thesis that you explained in April 2015, long term view is fine, population growing etc. http://rogermontgomery.com/housing-bubble/
But what other choice does the average guy like me living an ordinary life trying to live work and raise my family have. I need somewhere to live – there are arguments pro and con about buying vs renting, but in my twilight years I don’t want to have the pressure of trying to find cash every month to pay to a landlord.
Roger Montgomery
:
Hi Lucas, You offer an excellent perspective. Current house prices however do not reflect the result of natural population growth and another cohort of people building families and buying their first house. The rapid rise in prices has been fuelled in no small part by investors buying to subsequently rent out…