Where to put the moola?

[whaasup]

Wit all dis stuff going on real bad like in the conomy i figger it be best to go for the biz that is still makin profits, even if the profits is smaller dan usual. Wot you figger?

[mantra.]

There's only two companies making a lot of money at the moment because they've got the lion's share of the market. That's Coles & Woolworths and their subsidiaries. I say destroy their monopoly and give the little guys a chance. The economy may not pick up drastically, but it will give more people an opportunity to make some money.

[whaasup]

I be tinkin' woolies be da boom . U liv dum caplist worl den u be dumb caplist- way to go brudder.

[JW Frogen]

What moola?

I have a kid and a morgage the size of Obama's...........wait for it...........budget.

[pollywolly]

Time to downsize?

[mantra.]

There are thousands of people a year in NSW losing their homes because they can't pay their mortgage and more are being evicted from investment properties because of the spiralling rents. There is a 51% increase in people finding themselves homeless. They just overcommitted themselves under the Howard government believing their jobs were secure and property prices would always increase.

MORE than 7600 people have become economic refugees in the past 12 months, with a record number of families losing their homes as the economy dives.

A further 28,000 are struggling to hold on and have flooded the New South Wales State Government for financial help in the form of rent payments and bonds.

Horror stories emerged from Housing NSW last night of families evicted because investment homes were being repossessed, while others had lost their jobs and were unable to pay rent.

Housing Minister David Borger yesterday said the number of homeless families had increased 51 per cent and that staff were finding shelter for an extra 643 people a month.

"We are seeing people who are economic victims who have lost jobs and can no longer pay bills. They have racked up their credit cards," he said.

"There is a new category of economic refugee."

He said the economic crisis had hit families in Western Sydney particularly hard, with 20 per cent increases in rents in some areas forcing many from their homes.

A family of African migrants in Mr Borger's electorate was paying rent to an investment property owner but was evicted when the mortgage stopped being paid.

Housing NSW worker Nick Ladeos, who works in Hurstville, said he recently had a homeless expectant mother with two young children seek help.

Others arrive destitute because they have lost their jobs, he said.

"What we do see is a lot of people who can't pay the mortgage repayments or investors who can't pay," Mr Ladeos said.

"The tenants already in there are getting evicted when the property is repossessed or needs to be sold.

"Others have been laid off and they can't meet the commitment of paying their weekly rent so they get behind and as much as they try and pay, they can't."

[Rainbow Moonlight]

Mantra thanks for posting that article. My past reading has not suggested that the situation was that bad yet. But i guess I saw it in reports from banks about defaulting loans - which were increasing but not massively at that stage.

[boxy]