Jumpingmanjim posted:

Jumpingmanjim posted:

Coolwhoami posted:

Holy poo poo why is Australia still giving out 15k grants for people to buy new homes in a market like that.

Baronjutter posted:

Also describes Sweden's crazy interest only mortgages.

ductonius posted:

So, like, are these specifically designed to combine the worst aspects of both renting and buying, without having any of the upsides to either?

Jumpingmanjim posted:

Didn't a whole bunch of online payday lenders get disrupted by usury laws in the U.K?

quote:

Instead, Grouplend, which relies heavily on technology and uses what it calls proprietary algorithms to determine credit worthiness, will approve between 25% and 50% of the applications.

quote:

In a sense, that’s the way it should be given that Grouplend is providing borrowers with three-year term money at rates from 6.5% – 17.50%; borrowing costs that are lower than what is charged by credit card companies or by payday loan providers. Unlike credit cards, Grouplend offers, “personalized pricing,” which means that rates vary between customers.

But one reason for the low approval rate is the low level of applications from Grouplend’s target audience: “prime quality middle class Canadian,” an audience that covers about 65% of the country’s households who are holding unsecured debt. First-time or new home buyers who are strapped but need extra cash “to cover moving costs or furnishing costs,” Sandhu said are an ideal customer.

But much of ideal customer group “doesn’t know about our product. [The result] we get a lot of people who have been rejected by banks or who are escaping from payday loan [providers] or other sub-prime loans that charge exorbitant interest rates. That’s not the audience we are set up to serve,” added Sandhu.

Instead, Sandhu’s target market is that segment of the population that “can go to the bank, who can get a credit card, but who are looking for something more affordable and a better option.”

As a result, Grouplend has, so far, received applications from customers “who have been turned away from banks, who we are just not set up to service.” Accordingly the near term challenge for Grouplend is “to raise awareness.”

THC posted:

How I get my employees to work 80 hours a week


How to make employee work 80 hours: hire people willing to work 80 hours. Changing the face of an industry!

Cultural Imperial posted:

This Kevin Sandhu shithead will be first against the wall.

gently caress grouplend

So innovative. A loving online payday loan. gently caress you you loving shitheel

Cultural Imperial posted:

Apparently Hootsuite hired a real live CFO. They're going to IPO u guys!!!

Cultural Imperial posted:

Apparently Hootsuite hired a real live CFO. They're going to IPO u guys!!!

The Butcher posted:

Not touching that one with a 10 ft pole. No real potential to diversify or expand beyond their current model, so no significant future growth. No likelihood of being bought out because the social media platforms can just add a bit of code to replicate Hootsuite's functions.

quote:

Waning Sydney auction market hits new low on Saturday

The Sydney auction market hit a new low on Saturday, with the clearance rate dropping below 60 per cent for the first time in three years.

There were 1011 auctions scheduled for Saturday and with 652 results reported, Domain Group put the clearance rate at 59.2 per cent – well down on last weekend’s 64.4 per cent.

“The market has crashed below 60 per cent with no sign of bottoming out,” said Domain Group senior economist Dr Andrew Wilson.

No-one registered to bid at the auction of 73/22 Waruda Street, Kirribilli on Saturday. Photo: domain.com.au

“Parts of Sydney are now clearly buyers’ markets so if you’ve sold and you’re a buyer, that’s pretty good.”

On Saturday some sellers were shocked to discover that no buyers had turned up to their auction.

At Kirribilli, a two-bedroom apartment with a balcony and postcard views of the Opera House at 73/22 Waruda Street failed to attract any registered bidders despite 70 groups inspecting the property during its sales campaign.

Playfair House at 2 Ridge Street, North Sydney, passed in on a bid of $2.85 million on Saturday Photo: domain.com.au

Catherine O’Neill of Laing + Simmons North Sydney, who had issued five contracts, is now looking for offers over $800,000.

Up the road in North Sydney an 1885 five-bedroom Victorian terrace Playfair House passed in on a bid of $2.85 million failing to reach the reserve of $3 million.

Selling agent, Jennifer Hampton, had fielded more than 170 inquiries and issued 10 contracts on the commercial-residential zoned property.

This designer cottage at 18 Collins Street, Rozelle, also passed in on Saturday. The highest bid was $1.75 million, $75,000 short of the reserve.

“One bidder had a panic attack and walked out,” she said.

The first auction of the day was a three-bedroom weatherboard at 18 Collins Street, Rozelle.

Despite having undergone a tasteful renovation, the freestanding three-bedroom home passed in on the highest bid of $1.75 million, $75,000 short of the reserve.

This house at 18 Oswald Street, Randwick, sold for $2,865,000 at auction on Saturday. Photo: domain.com.au

Listing agent Matthew Hayson of Cobden & Hayson said there had been a “loss of confidence” in the market, with buyers unwilling to commit to purchasing until they themselves had sold.

“Two months ago they would have said, “Stuff it. I’ll buy this and then sell mine’,” he said.

“That’s not happening anymore. . . open home attendees have halved in the past two months.”

Other sellers were able to secure a sale on the day by revising their expectations. That was the case when a unique property at 18 Oswald Street in Randwick sold under the hammer for $2,865,000.

A crowd of about 80 gathered in the sunny backyard of the four-bedroom Federation house that drew wide interest for its granny flat in converted stables, level garden, pool and proximity to the planned light rail.

However, when bidding stalled at $2.81 million, vendors Penelope Roberts and her husband Nicholas agreed to call the property on the market, despite their undisclosed reserve.

The property sold to a young couple who plan to live in the home.

In pockets of Sydney there were still some strong sales on Saturday.

In the inner west, a two-bedroom Marrickville semi offered for the first time in 60 years sold for $1,115,000 – $115,000 above reserve.

A young couple came out on top of two other active bidders. All three parties had been home hunting for six months. The couple plan to renovate and live in the home at 1 Middle Street.

“Clearance rates are still quite strong if you are 10-15 kilometres from the city,”

“In the east and inner west properties are still selling . . . it is the other areas that are letting us down,” said selling agent Kate Webster of McGrath Inner West – Leichhardt.

Competition was also fierce at the auction of 17 Gelding Street in Dulwich Hill where a Federation house on 468 square metres sold for $1,801,000, $220,000 over reserve.

Shad Hassen of McGrath Estate Agents said the property was popular for its location, block size and potential to add value.

Despite the low clearance rate auctioneer Will Hampson of My Auctioneer had a good day on Saturday, selling seven out of his nine scheduled auctions.

He noted that buyers were thinner on the ground now that the prospect of capital growth had waned.

“After four years of growth the sentiment is that the market has capped out,” he said.

THC posted:

How to make employee work 80 hours: hire people willing to work 80 hours. Changing the face of an industry!

Reverse Centaur posted:

my dad's 30+ year old Seiko Digiborg watch was featured in a new video game (Metal Gear Solid) and my mom was like "I bought him that watch because it was one of the few that had an alarm in the 80s and it was supposed to remind him to come home."

Reverse Centaur posted:

I was an Electronic Arts orphan, my dad worked 10am-10pm often seven days a week and I have virtually no emotional connection with him. It really hosed up my mom too, like I mentioned my dad's 30+ year old Seiko Digiborg watch was featured in a new video game (Metal Gear Solid) and my mom was like "I bought him that watch because it was one of the few that had an alarm in the 80s and it was supposed to remind him to come home."

Helsing posted:

Sounds like you need a hobby.

Snuffman posted:

I've never really looked into it until now, but Hootsuite is just an app that lets you read and update multiple social feeds? This is a multi-million dollar "world changing disruptive app" that's at the supposed forefront of Vancouver's tech scene?

I think I'm getting old. I don't get it.

Rime posted:

Yes. It's a CRON job valued at $1 Billion USD, with over $250m in investor cash.

But not just Vancouvers tech scene, Hootsuite is the biggest startup success in the entire country since the late 1990's.

Rime posted:

But not just Vancouvers tech scene, Hootsuite is the biggest startup success in the entire country since the late 1990's.

Snuffman posted:

I've never really looked into it until now, but Hootsuite is just an app that lets you read and update multiple social feeds? This is a multi-million dollar "world changing disruptive app" that's at the supposed forefront of Vancouver's tech scene?

I think I'm getting old. I don't get it.

HookShot posted:

I'd argue Blackberry was more successful, if only for a few years.