A Priest Encourages Congregation to Buy Property in His Suburb and Now They Struggle to Pay Mortgage

Frankensnore on 04/01/2024 - 19:08
Last edited 04/01/2024 - 22:37

Asking for a friend:

A priest (of a church) influences his congregation to buy a property where he has bought. Possibly for his own benefit. This was before the inflation. Now everyone who follows his advice struggle to pay the mortgage.

My question is, isn’t it a crime to offer financial advice that benefit themselves in public forum?

Some of the words was: Buy in this suburb, it is surely will go up, if you want to live in Australia, buy land, not apartment! Where else otherwise are you gonna buy?

From this advice, many sold their own homes and move to this suburb. However price didn’t rise as predicted and interest rates keep rising.

For privacy reasons, please don’t ask me which suburb or church or priest is this. I will ignore. Thanks.

Financial

Comments

  • echizen on 05/01/2024 - 15:48
    +1

    It must be the shittiest property/suburb in Australia if it's property value went down. Then again, if its mortgage stress and not capital loss, then its basically the same boat for basically everyone else with a mortgage regardless of suburb, so what's the issue? It wouldn't be the Priest's fault, that would be the government's fault and the greed of businesses using any and every excuse to raise prices to INCREASE profit instead of maintaining profit.

  • Hangryuman on 05/01/2024 - 16:11

    c'mon - he's not a real Evangelist until he gets his congregation to buy him a personal helicopter - https://www.blackenterprise.com/texas-megachurch-preacher-as…

    or add to his fleet of private jets - https://www.washingtonpost.com/religion/2019/06/04/wealthy-t…

    so he can spread the word of God - and the word is 'Gimme!'

    they really feel about those things - https://www.youtube.com/watch?v=EkyTIB9U4Xg

    • cashless on 05/01/2024 - 16:28

      Yeah, but Frank Zappa was pointing this out in the 1980's.
      "He's got 7 limousines and a private plane, all for the use of his special friends"
      "He's got 20 million dollars in his heavenly bank account, all from those chumps who were born again"
      "At the House of Representatives he's a lovely man"
      That was when Regan was President.
      Nothing has changed.

      Zappa's point being "Tax the churches…..tax the businesses owned by the churches".

      US society, AUS society and the rest of western "democracies" just do not learn the lesson.

  • brad1-8tsi on 05/01/2024 - 17:01
    +1

    I feel this is an improvement on asking to borrow the children for the afternoon.

  • Herbse on 05/01/2024 - 17:04

    Literally no areas in all of aus is declining in value. Assuming they bought over a year ago, there's no way they can't sell for the same or more than what was paid for it.

  • Adzscar on 05/01/2024 - 17:52
    +2

    "Hello! I'm OldDataGuy. You may remember me from such posts as Why Is Maccas So Slow Now? and
    Selling School Uniforms, Is It Legal?"

  • lew380 on 05/01/2024 - 18:00

    Sue this priest for sure, he probably released covid, orchestrated the lock down for the scared sheep of Australia and thus, brought down the economy so people now can't afford mortgage repayment. Yea you are right at the source of the problem, it's this one random priest who didn't see the stupid government shutting down the country in his crystal ball.

  • bdl on 05/01/2024 - 18:18
    +1

    Saint LJ Hooker - You're the Best

  • ChunkyToast on 05/01/2024 - 18:30

    Lol

  • sirstiv on 05/01/2024 - 19:01
    +2

    Assuming he's a Greek priest lol.
    Don't downvote me. They're just a business.

    • Hydralyte on 07/01/2024 - 17:12
      +2

      Same with the catholic, coptic, assyrian, lebanese etc. priests. All just a money making venture to prop their community up through unethical means.

  • Trying2SaveABuck on 05/01/2024 - 21:03

    Getting property advice from a Priest is about as rock solid as a sand castle on a raining day

  • [Deactivated] on 05/01/2024 - 21:14
    +1

    Wouldn't they actually be ahead since they purchased before inflation?

  • FlyingMiffy on 05/01/2024 - 21:29

    If the only furvy that the congregation got was real estate suggestions at a church, they are alot dumber than you think…

  • Cherry12 on 05/01/2024 - 22:33
    +2

    He likely wanted the congregation to live nearby.

    It's crazy to label his comments as Financial Advice.

    Who buys/sells property based on a random conversation.

    • Ulysses31 on 06/01/2024 - 10:48

      A lot of people, unfortunately. Go to a BBQ, and come back all pumped on on a topic they have zero critical knowledge of. 100000x more people doing it online, with the echo-chamber of their algorithm.

      With this story, the fools place the story teller in their top tier list of trust. Broke from the beginning

  • kiitos on 06/01/2024 - 08:10

    Hope big is the congregation? How many bought? How long ago? Which state?

  • mousie on 06/01/2024 - 08:56

    He is just praying to lower the official cash rate.

  • bigbadboogieman on 06/01/2024 - 09:38

    Unless you can directly prove the priest offered financial advice to the person/people, while directly contributing to induce their purchase resulting in their financial suffering, specifically in exchange for direct financial gain, I am afraid it is on them. The priest didn't refer them to his mortgage broker or real estate agent or sold them his own lot cashing himself out. The priest also doesn't control interest rate hikes. Everyone is suffering at the moment. The buyers should have done their due diligence on whether they could afford the loan incase of rate hikes.

  • geoffs87 on 06/01/2024 - 09:41
    +1

    Can't afford their mortgages because theyre probably paying ~20% of their pre-tax income to the church…

  • Ciderfizz44 on 06/01/2024 - 09:42
    +1

    Don't like the flavour of the cordial? Change brands or better yet don't mix fiction with financial decisions.

  • porsche26c on 06/01/2024 - 12:19
    +3

    this is the dumbest thing I have read. The priest never gives financial advise. More like, 'hey to make it easy to come to church, live locally'.

  • slipperypete on 06/01/2024 - 14:12

    I wonder if there are more or less plagues and lightning strikes in this suburb than the surrounding ones

  • Misha Bakunin on 06/01/2024 - 14:13
    +1

    So? Why even create this post. Waste of people's time. He can't predict interest rate rises, he's a priest, not God.

    • Save 50 Cent on 06/01/2024 - 16:40

      But you’d think the priest would be close to God!

  • dji1111111 on 06/01/2024 - 14:54
    +1

    Omg.. grow a brain. This goes for OP as well as the entire congregation (allegedly) that bought/sold properties based on what their religious leader has said in a casual conversation

  • infinite on 06/01/2024 - 18:04
    +1

    No one is making the largest financial decision of their lifetime based on the market speculation of a priest…………

  • HangryCakeStore on 06/01/2024 - 18:23

    Another example misuse of religious power on sheep?

  • Windows7forever on 06/01/2024 - 18:48
    +1

    So many fools out there. Brb, just buttering up my microwave popcorn 😂

  • Gifwonder on 06/01/2024 - 21:15
    +1

    definitly not catholic, there is a catholic church in each suburb, and u just go to your nearest…. :|

    doesn't make sense for a catholic priest in north sydney, who'se church is in north sydney, to say to tell people living in north sydney who attend his north sydney church, to buy a house in north sydney which they probably already own or live in.. CRAZY

    • Cyphar on 07/01/2024 - 16:36

      Priests also do not own property. The church provides them with a house

  • ArjaytheGuy on 06/01/2024 - 21:37

    Waaiiit….. are we suggesting that the crowd that go in for happy clapping christianist fundamentalism might be gullible enough to just buy property based on the enthusiastic hyperbole of their local preacher-man?

    Say it isn't so!

  • R4 on 06/01/2024 - 22:48

    If you're going to take financial advice off of a religious professional, then you deserve what you get.

    This sounds like some 'new Australian' bollox.

  • [Deactivated] on 06/01/2024 - 23:11
    +1

    Maybe the priest wanted congregation to be close-by and a sense of community. There is no benefit to priest, unless they purchased direct from him at a inflated price.

    What a stupid thing to say, hes giving financial advice. Once again, ignorant people blaming others for their life choices.

  • TightAl on 07/01/2024 - 10:55

    Why does one need a priest to have a connection to god?
    Asking for a friend

    • gyrex on 07/01/2024 - 12:48
      +1

      When something doesn't exist you need an intermediary to convince one that it does exist despite there being no evidence.

      • Hydralyte on 07/01/2024 - 17:14
        -1

        Mate, you got no clue. Your atheistic arrogance blinds you. Just wait until you live in a godless nation with a declining birth rate, no morals, homelessness through the roof, income inequality etc.

        Oh wait…..

        • gyrex on 08/01/2024 - 10:46

          I hate to be the bearer of bad news but the most religious countries in the world have some of the highest crime rates and lowest standards of living in the world. The least religious countries typically have lower crime rates and higher standards of living.

          • Hydralyte on 08/01/2024 - 11:36

            @gyrex: Wonder why? Because of Colonisers and murderous regimes installed by colonial powers

    • Hydralyte on 07/01/2024 - 17:13
      -1

      Because you are not a religious scholar whereas a priest has been through the trials and journey to seek knowledge and attain qualifications to communicate scripture.

  • yeunghong on 07/01/2024 - 14:10
    +3

    No matter who gives you any financial advice (e.g. a priest, doctor, lawyer, or even a private banker…etc.), you should be the one who take responsibility of your actions.

  • drfuzzy on 07/01/2024 - 15:25
    -1

    Jesus Appears to Thomas

    Now Thomas, one of the Twelve, was not with the disciples when Jesus came.

    So the other disciples told him, “We have seen the Lord!”

    But he said to them, “Unless I see the nail marks in his hands and put my finger where the nails were, and put my hand into his side, I will not believe.”

    A week later his disciples were in the house again, and Thomas was with them. Though the doors were locked, Jesus came and stood among them and said, “Peace be with you!”

    Then he said to Thomas, “Put your finger here; see my hands. Reach out your hand and put it into my side. Stop doubting and believe.”

    Thomas said to him, “My Lord and my God!”

    Then Jesus told him, “Because you have seen me, you have believed; blessed are those who have not seen and yet have believed.”

    • drfuzzy on 07/01/2024 - 15:26

      TLDR; Blessed are those who have not seen the house price go up but believe the house price will go up.

  • Cyphar on 07/01/2024 - 16:35
    +1

    A congregation of idiots.

  • gezza90 on 07/01/2024 - 17:26
    +3

    I was a Parish council member for almost a decade. I could say I've seen my fair share of corruption. As I have seen, Priests leverage off the church for their own benefit. In other words, the church/ congregation/ Parish will suffer, but will continue to exist. They will try to get as much monetary and non-monetary benefit from the institution without any risk. I was the treasurer and saw it at first hand. Our priest changed and it shifted from democracy to dictatorship meaning the Priest made all decisions, including financial, on behalf of the church. I resigned. If that is the case, the institution is therefore toxic and corrupt as much as 'Holy' they may seem to the outside world.

  • johno3456 on 07/01/2024 - 17:27
    +1

    So instead of the fault being an act of god, the fault may lie with an act of government, or more accurately an act of the RBA, who increased the interest rate.

    More seriously, one could imagine say the leader of a cult encouraging some one to buy into a particular suburb or "an end of the world is nigh" shelter but most ppl would recognise that such a leader is not a financial advisor. Also, look up the meaning of caveat emptor.

    Finally, it is a common recommendation to buy land instead of apartment. A house or apartment normally depreciates but the underlying land normally appreciates at a greater rate.

    • UNO on 07/01/2024 - 20:57
      +1

      Was Dr Philip Lowe the priest?

  • Baysew on 07/01/2024 - 17:42

    However price didn’t rise as predicted and interest rates keep rising.

    That's OK, see Matthew 20:16-28

    So the last will be first, and the first last.

  • Tiredman on 07/01/2024 - 21:31
    +1

    The blind leading the blind

  • Zondor on 08/01/2024 - 08:35
    +1

    We've got a family member in a cult like this. Eventually they will cut out everyone in their lives who isn't in the cult.

  • whitepuma on 08/01/2024 - 09:30
    +1

    anybody else have 1 of those uncles that isn't doing the best financially but says stuff like "don't buy a property the market is going to crash hard any day now", he's being saying that for the past 30 years. Has he committed a crime for offering financial advice?

    Cmon people, take SOME accountability, especially if you are going to risk your life savings on something, maybe do some research beyond the 1 person that gave you advice, and take some ownership of your decision.

  • AlienC on 09/01/2024 - 01:52

    How does one become like this entrepreneurial master genius

  • bargainhunter168 on 12/01/2024 - 15:35

    The priest did not give financial advice

  • bargain huntress on 17/01/2024 - 20:16

    I know you said you wouldnt answer
    But was it this guy?

    https://youtu.be/kzuA9zLPIbA
    https://en.m.wikipedia.org/wiki/Divine_Truth

Login or Join to leave a comment
Login Join