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document.write("<h5>Banks are to blame, but not for reason stated by Neethling</h5>");
document.write("The banks ARE to blame for the housing slump, but for completely different reasons put forth by Neethling.  Their reckless lending prior to the National Credit Act (NCA) caused a housing bubble that inevitably had to pop.<br /><br />The cause of the crisis is NOT a reluctance to lend, but overzealous lending prior to the NCA.<br />. Johan Pretorius");
document.write("<h5>Response to this article</h5>");
document.write("What people tend to forget is that banks are businesses. Its the banks view that business risks are now present. So NO, one cannot blame the banks for not lending, it is their prerogative, to lend or not to lend.<br /><br />The NCA is the to blame for the lending slow down that started when it came into effect. But is not that simple.<br /><br />The NCA is a double edged sword in our economy and housing market. On the one hand, it caused many liquidations and foreclosures for property related businesses and self employed people that used equity to finance their businesses, due to the stricter financing that the banks now were forced to apply due to the NCA.<br /><br />On the other hand, it has saved many people from the very same misfortune, by affording them the opportunity to go under debt review under the NCA act. <br /><br />What is disturbing is how many banks are acting unethically by not respecting this ACT for the latter people. I know of many people that have said to me that the banks play hard to get, they refute receiving legal notifications in line with the act and bully many of these people into a forced auction sale.<br /><br />KNOW YOUR RIGHTS PEOPLE!!! The NCA is part of the legislated law of our country and is there to protect you.<br /><br />Again, banks are businesses, perhaps its time for new players to enter the loan industry, I predict this this will be of huge benefit to the new entrants, our economy and keep our main four on their toes!!<br /><br />Keep well<br />Giovanni. anon");
document.write("<h5>Banks to blame</h5>");
document.write("I agree that banks are part of the problem. I do not agree that they are merely responding to percieved business risk. Its more a case of overkill by people who know very little about business dynamics. They are greedy when risk seems low and unecessarily cautious when risk seems high. . Colin");
document.write("<h5>Banks are to blame</h5>");
document.write("The banks always want their cake and then insist on eating it too. From a business view point their stance has no logic.. F va Kraayenburg");
document.write("<h5>The usual estate agent's agenda...</h5>");
document.write("If Neethling were really anxious to see South Africans becoming \"a home owning nation\" he would be rejoicing that house prices are now coming down to more affordable levels.  A house (or \"home\" in estate agents' sugary jargon)is just a commodity - like a lounge suite or a motorcar - and there is no good reason other than estate agent hype and good ol' South African greed that the price of housing should have become as distorted as it has.  When a young South African with a couple of years working experience under his belt is able to buy a house without having to ask his parents for the cash or put himself in penury for the next twenty/thirty years, then the cost of housing will have come down to a reasonable level.  Until then, may the banks continue to restore some sanity to the market.. Ricardo");
document.write("<h5>ANOTHER IDIOT CRYING SOUR GRAPES</h5>");
document.write("BANKS are NOT the problem. <br /><br />Estate Agents and developers caused the problem by overinflating property prices to totally unrealistic levels in SA through hype and propaganda.<br /><br />Banks  could only be partially  to blame for allowing this to happen by \"throwing caution to the wind\" , not employing sound financing principles and financing properties  often at levels vastly greater than the real intrinsic value. And often at 100% bond to  not properly evaluated purchasers.<br /><br />After the \"credit bubble\" started leaking and pricelevels readjusting to the real values, these banks are now sitting with partially unsecured debtors as the collateral of a financed property is often less than the oustanding bond.<br /><br />So dont blame the banks for a super cautious approach as prices of property are still adjusting and will probably CONTINUE to fall for quite some time.<br /><br />BUYERS should realise this and be supercautious when dealing with estate agents  as agents only support their own agenda, no matter what they claim.<br /><br />Any how, AGENT = ZERO VALUE ADDED TO TRANSACTION. Jaco");
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