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  • A Wonderful Thing?

    Originally posted by mrsaneperson View Post
    Do you really think i'm just some sad sack out of tune with what is really going on?
    Look at the incredible amount of dysfunctionality & general chaos, breakdown of
    society happening.
    Originally posted by Speights Boy
    Far too many wonderful things happening in this word to allow myself to be dragged down . . .
    One of the less wonderful things for us on the East Cost of the North Island.
    Originally posted by Hastings Mail
    Top crime rate in NZ

    Reported crime in Hawke's Bay has increased, and the East Coast, made
    up of the Bay and Gisborne, has the most crime per head of population
    nationwide. It was not a surprise to Hastings mayor Lawrence Yule -
    who said the statistics would not change until more resources were
    spent on things like poverty and unemployment.

    "We actually need to wake up to our plight. These results ... reflect
    significant issues with our society. On just about every social
    indicator Hawke's Bay features near the bottom and crime is just
    another reflection of this. We live in a fabulous place but have real
    issues around unemployment, below average incomes and high
    unemployment. "Until all these are improved the crime stats will be
    grim ... we need to lobby for more police resources for the region."

    The financial year crime statistics, to June 2014, were released last
    week. Reported crime in the Eastern Police District was down 1.7 per
    cent but the region recorded the most crime per head of population
    across New Zealand. Hawke's Bay crime jumped 1.6 per cent from the
    year before to 15,418. Gisborne crime was down to 7501 from 8137.

    Nationally reported crime was down 3.2 per cent. For every 10,000
    residents in Eastern Districts there were 1137 crimes reported (1049
    in Hawke's Bay and 1371 in Gisborne). Auckland City came in second,
    with 1018 crimes per 10,000. The national average was 788 per 10,000
    people. The least crime-ridden district was Southland, with 643 crimes
    reported per 10,000 people.

    Murders in both areas of Eastern Districts were down, three in
    Gisborne and three in Hawke's Bay, compared to five in each area over
    the previous 12 months. Police were pleased murders assaults, sexual
    assaults, public disorder and drug offences were all down in the Bay.
    Like all Council hacks, Yule made no mention of where those more resources
    [to be] spent on things like poverty and unemployment were to come from.
    Not from his council or stipend, I suspect.

    Whether the reduction in murders is a silver lining is moot, of course.
    Just like what effect all this will have on interest rates.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

    Comment


    • Originally posted by Wayne View Post
      And we were told that it was because they couldn't raise the debt ceiling so were running out of money.
      When the debt ceiling was raised it went back to normal again.
      Their national debt is still in the trillions and the monuments are open again.
      They raised the debt ceiling ,to fix the problem ,you're right.Like someone putting a bandaid on a severed limb.Crisis what crisis?
      Opposition to raising the debt level was ignored ;the inevitable now is an even bigger crash.

      America is seriously broke.

      Clueless Obama is still pretending to be a legitimate superpower.

      Comment


      • Originally posted by Meehole View Post
        I'm just still staggered that mrsaneperson thinks the average mortgage is $500K. I'm a property manager now and I don't know anyone that has a $500k mortgage on their rental and I'm working on the North Shore.
        We have 2 rentals in Whangarei and they don't have a combined mortgage of that. Someone would have rocks in their head to purchase a property with that much debt, home buyer yes but investment no.
        And as a by I have travelled from one end of the Bays to the other this morning and the number of for sale signs that have cropped up is huge! All auction, my advice is let the auction process run, don't cave in and put in an offer prior to auction day. The buyers need to get control of the market and stop the competition and let the prices ease themselves back down to a more realistic value.
        I think there'd be plenty of rental investors out there with 500k mortgages on 3 bedroom Auckland homes.I'm talking purchases in the last 2 years. But even if as a property manager, surely landlords ,your clients don't generally discuss what sort of mortgage they have?

        Rentals in Whangarei are half the price of Auckland or thereabouts.

        Comment


        • I have a $500k mortgage on one house in Whangarei... but it is multi-tenancy.
          You can find me at: Energise Web Design

          Comment


          • Originally posted by mrsaneperson View Post
            I think there'd be plenty of rental investors out there with 500k mortgages on 3 bedroom Auckland homes.I'm talking purchases in the last 2 years. But even if as a property manager, surely landlords ,your clients don't generally discuss what sort of mortgage they have?

            Rentals in Whangarei are half the price of Auckland or thereabouts.
            If there are investors in Auckland with $500k mortgages on $620k homes then they have rocks in their heads. I assume they have purchased for a potential capital gain and not a yield?
            You'd be surprised what clients discuss sometimes, its all in the art of the sale. Let them talk to you instead of telling them what you think they want to or should hear!

            Comment


            • Originally posted by drelly View Post
              I have a $500k mortgage on one house in Whangarei... but it is multi-tenancy.
              You're anything but average Drelly!

              Comment


              • Originally posted by drelly View Post
                I have a $500k mortgage on one house in Whangarei... but it is multi-tenancy.
                I'm curious to know if you find it worth while investing in? I always worried about purchasing multi-tenancy in smaller cities.
                www.PropertyMinder.co.nz
                # Property Management
                # Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices

                Comment


                • Originally posted by BigDreamer View Post
                  I'm curious to know if you find it worth while investing in? I always worried about purchasing multi-tenancy in smaller cities.
                  It was a house we lived in. Purpose-built in the 1960's with two flats underneath. It is very close to the hospital, so there's usually a good supply of tenants. I rent the two flats fully furnished, so often get foreign doctors and nurses as tenants. Good yield but it's an unusual property, so the market for resale would be smaller. I tried to sell it about 2 years ago with a yield on asking price of 7.5% but had no takers! In general, I'd probably avoid multi-tenancy unless you like a challenge. There are a few extra issues, such as noise and parking. Probably similar to managing a block of flats.
                  You can find me at: Energise Web Design

                  Comment


                  • I love these comedy threads:

                    Comment


                    • Man, I fixed for 2 years a month ago, but rates are continuing to slide: 5.39% for one year now... http://www.interest.co.nz/news/72685...s-three-years-
                      Last edited by Davo36; 31-10-2014, 10:27 AM.
                      Squadly dinky do!

                      Comment


                      • Originally posted by Davo36 View Post
                        Man, I fixed for 2 years a month ago, but rates are continuing to slide: 5.39% for one year now... http://www.interest.co.nz/news/72685...s-three-years-
                        I'm in the same boat, fixed 5.8 & 5.85% for a few loans...

                        Interest rates are dropping, so I would fix for 6 or 12 months from now on till end of 2015.

                        Comment


                        • Originally posted by Wayne View Post
                          They will go up.
                          Maybe tomorrow (unlikely), maybe next year or the year after - I don't know when.
                          But they won't stay at historic lows forever.
                          People need to be prepared for it....
                          There's a suggestion from BNZ that our historic lows may be the new norm.
                          Perhaps we'll have even lower interest rates next year?

                          Comment


                          • Mine are coming off in Dec 5.05% and 4.95% - hope to get the same or better, will shop around.

                            Comment


                            • Originally posted by Meehole View Post
                              Mine are coming off in Dec 5.05% and 4.95% - hope to get the same or better, will shop around.
                              I'd be surprised if you got better than those rates at any term .....I got 5.35% 6m (or 1 year) just recently ... I do think we could see sub 5% next year but not in the short term ...

                              Comment


                              • I've got 4.94% coming off in December. Hoping the lower offers hold until then.

                                Comment

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