In the midst of a housing crisis, the big banks\u2019 obscene profits have been taken directly out of the pockets of mortgagees and renters.<\/p>\n\n\n\n
The CBA has reported a mammoth $5.4b profit<\/a> in its half-year results and the ANZ\u2019s profit rose to $1.94b in its first quarter<\/a>, as mortgages rise, with the average mortgage up $70,000 over the last 12 months<\/a>.<\/p>\n\n\n\n The Greens say Labor cares more about the profits of the banks than it does about first-home buyers.<\/p>\n\n\n\n Greens spokesperson for Finance, Housing and Homelessness Senator Barbara Pocock:<\/strong><\/p>\n\n\n\n \u201cIn the midst of a housing crisis it\u2019s clear who the winners are – the big banks and wealthy property hoarders.<\/p>\n\n\n\n \u201cThe big banks are profiting off rising house prices and increased mortgages, while homeowners struggle in the face of rising interest rates.<\/p>\n\n\n\n \u201cLabor\u2019s policies – such as the 5% deposit scheme and the $181b tax breaks for property hoarders, is adding fuel to the fire, driving up house prices while the banks take all the profit.<\/p>\n\n\n\n \u201cIt\u2019s clear who the government is working for and it\u2019s not renters or first-home buyers – it\u2019s the banks and wealthy property investors.<\/p>\n\n\n\n \u201cWithout tackling the root causes of the housing crisis – which are the tax breaks for wealthy property hoarders and the lack of social and affordable housing – house prices will continue to spike, and banks will continue to rake in the profits.\u201d<\/p>\n\n\n\n Greens spokesperson for Economic Justice Senator Nick McKim:<\/strong><\/p>\n\n\n\n \u201cThis is the story of the last few years in a nutshell – misery for mortgage holders and renters and obscene profits for the banking corporations. In the midst of a housing crisis, the big banks\u2019 obscene profits have been taken directly out of the pockets of mortgagees and renters. The CBA has reported a mammoth $5.4b profit in its half-year results and the ANZ\u2019s profit rose to $1.94b in its first quarter, as mortgages rise, with the average mortgage up $70,000 over the … Continue reading “Bank profits spike amid housing crisis”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-37391","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/37391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=37391"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/37391\/revisions"}],"predecessor-version":[{"id":37392,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/37391\/revisions\/37392"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=37391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=37391"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=37391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\u201cThe banks have been let loose by a hands off government and an RBA that only has one lever to pull.
\u201cLabor needs to get serious about tackling inflation as well as the corporate price gouging that is causing it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"