Quote:
Originally Posted by [1ponders]
While I don't pretend to understand the banking system at all, except that it is not setup to benefit anyone except the banks (cynicism reigns supreme)
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That is the truth.
Is it better to buy, or to rent. Will RE prices always go up? Well a lot of the big players are selling out, it's a real trend and I assume in the following example the ongoing sales are being foisted onto super funds.
Tuesday, 1 August 2006
St.George continues branch sale and leaseback program
St.George Bank today announced it will auction ten of branches located in Queensland, New South Wales and Victoria on a sale and leaseback basis. The properties to be offered are two in Queensland; Queen Street Mall in Brisbane and Griffiths Street in Coolangatta, five in NSW; Belmont, Broken Hill, Muswellbrook, North Sydney and Richmond, and three in Victoria; Hamilton, Horsham and Shepparton. Jones Lang LaSalle have been appointed to manage the campaign.
http://www.stgeorge.com.au/media_cen...ive.asp?id=159
If property is such a good investment, why would a bank sell it's own?