Interest Rates

[speights boy]

. The obvious one being it gives those who can finance from offshore at very low rates an even greater advantage

Once again, in the Govt's court not the RBNZs
As I said yesterday...only slightly sarcastically.

Plus of course foreign buyers.
But that ball is in the Govt's court; not Mr Wheeler's.
Anyway, the Govt says it's not a problem so there is nothing to worry about foreigners replacing locals in our market.

[speights boy]

The problem with this is it then creates a lot of places to game the system.

Well, some prosecutions for mortgage fraud would certainly help.
Appears to be people on this forum who are prepared to lie or non-disclose on their applications, if their posts are to be believed.

[speights boy]

They would probably have to do the same with commercial and that just won't happen.

Nope, that is not necessarily so at all.

When people are arguing against something they don't want they use the "well it would also have to apply across the board" argument.
Residential IS different to commercial and so the rules ARE different.

[Perry]

Looking for some advice - I am in the market to buy a property and have pre-approval from ANZ. I recently saw the great rates HSBC Premier are offering for 1-5 year terms and wonder if anyone is a customer and can give me some feedback.

Our resident transvestite is the cheer leader / poster boy
for that bank, if I recall correctly. Maybe s/he'll be along
shortly to give you some insights?

[Wayne]

Nope, that is not necessarily so at all.

When people are arguing against something they don't want they use the "well it would also have to apply across the board" argument.
Residential IS different to commercial and so the rules ARE different.

I said 'probably'.
It certainly is possible for the Govt to act against residential only but it could be argued (and was with depreciation) that residential property investment is no different from commercial so both should be treated the same.
GST I hear you say - the Govt made a political decision at the time to exempt residential rents from GST as residents couldn't 'on claim'.
Time will tell what will happen.

[speights boy]

that residential property investment is no different from commercial so both should be treated the same.

Sure anything can be argued.
But the fact is commercial and residential DO HAVE different rules now.
Easy to bring in another rule which differentiates between the two.

[Wayne]

Sure anything can be argued.
But the fact is commercial and residential DO HAVE different rules now.
Easy to bring in another rule which differentiates between the two.

They certainly could.
They could also target the problem - Auckland - and create rules just for there.
Less likely but more appropriate in my opinion

[speights boy]

They could also target the problem - Auckland - and create rules just for there.
Less likely but more appropriate in my opinion

HA...don't get me started on that !

When LVRs were first being discussed I suggested targeting AKL only .

The main opponent here was Drelly who said people would simply move lust outside the Akl supercity boundary.
I thought that was rubbish, ( in any numbers to really be noticeable) and still do think that.

[Damap]

They will never pick on Auckland like that. We are half the voting public. It would be suicide. Makes me mad really. We should celebrate how wonderful a city we are and how desirable. Houses are expensive, boo hoo. As I have said for a long time go and buy something at the lower end so you are in this market then buy a second one. you can end up with whatever you want still in Auckland you just have to delay the gratification.

[Wayne]

The main opponent here was Drelly who said people would simply move lust outside the Akl supercity boundary.
I thought that was rubbish, ( in any numbers to really be noticeable) and still do think that.

They would have to buy outside the boundary - who cares where they live - target where they buy!

[speights boy]

They would have to buy outside the boundary - who cares where they live - target where they buy!

The discussion at the time was around owner occupiers primarily.

So, move meant buy.

[Damap]

Exactly, ripple effect heaven.

[Leftette]

HSBC: Great bank. Great customer service. Happy to recommend them.

Perry: Tired, old, offensive.

I'd complain to the mods, but it would do no good given you too have the power to ban people. Do as you say, but not as you do, a?

[Wayne]

Perry: Tired, old, offensive.

I'd complain to the mods, but it would do no good given you too have the power to ban people. Do as you say, but not as you do, a?

That explains it - I was trying to work out who he was referring to.
I was surprised by the comment.

Shouldn't it be 'eh'?

[Damap]

We all knew who he meant.......