You guys are forgetting that a large portion of the population don't have the financial knowledge to make these kind of decisions or know when something doesn't sound quite right. That's why financial planners/advisors have jobs.
If I were unsure and a financial adviser who is using (to my knowledge) expert opinion, were to tell me that in my circumstances I can borrow 2 mill there is a good chance I would believe them.
This is how a nurse and her husband lost their home when they asked Westpac for advice, page-8
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Last
$33.09 |
Change
-0.520(1.55%) |
Mkt cap ! $73.86B | |||
| Open | High | Low | Value | Volume |
| $33.50 | $33.58 | $33.04 | $149.0M | 4.481M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 14249 | $33.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.09 | 1802 | 1 |
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| Last trade - 16.10pm 04/12/2024 (20 minute delay) ? |
| WBC (ASX) Chart |