Thursday, 26 August 2010

STRIKE or NO STRIKE - what does it do to the Mortgage Market

Deeds office closed till further notice....eeeeeeish something the seller who needs his money, or the attorney who needs to transfer the home loan deal or the agent who needs commission or the mortgage originator who needs commission or the bank who want their fees or the buyer who needs a house to live in without paying occupational rent DOES NOT WANT TO HEAR!

Amazing, the very same people who strike for a better wage are not being paid by their bosses the government, but actually by you and I, their real bosses the tax payers.  The government just has an inability to negotiate with their employees as it is easier to spend the allocated budgets on absolute essentials such as top end Mercedes Benz and lease new police headquarters at prices that are more suited to 2025, never mind 2010.  But that's not the only issue.

The choice for civil servants to strike or not - is the true question and like all such situations the impact has an enormous effect on the property industry as whole.  Mortgage transfers aside, bankers, estate agents, financial folk are being impacted by their children being unable to go to school forcing work absenteeism as a starter. Insurance companies are having to brace themselves for high impact claims which overshadow the role they play in property insurance, development registrations, trustee and custodian assignments are being delayed and so these subtle impacts just role on and on....

then comes the prophet of doom talk of the police and the army going on strike and on and on

I gnome not what to say anymore......keep the financial faith the banks are lending fine right now......keep it up guys


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