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LVR restrictors back 1 March 2021

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  • LVR restrictors back 1 March 2021

    RBNZ can not wait until May so the LVR restrictions are back 2 months earlier.

    Geared up investors will be busy over the next few months.

    Will you buying?

    cheers

    Donna
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  • #2
    Here an interesting link...

    Falling house prices would be worse

    I was also going to link to the Stuff article on the reintroduction of LVR restrictions from 1 March but it's been pulled

    cheers,

    Donna
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    • #3
      Originally posted by donna View Post
      ....LVR restrictions are back 2 months earlier....

      Donna
      It was very odd that they announced this before doing it.

      Very, very odd.

      Wouldn't that induce panic?

      FOMO causing people to go into more risky territory than they can really afford to?

      You would think that the RESERVE BANK understood this.

      This is very irresponsible, I'd almost call it malicious.

      Are you sure the quote is accurate? or did the RESERVE BANK mean something else.






      Last edited by McDuck; 11-11-2020, 04:30 PM.

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      • #4


        The RESERVE BANK crew responding in lightning quick fashion to an impending personal debt bubble.

        Comment


        • #5
          See this - halfway down the anchor mentions it but the link is broken.
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          • #6
            Originally posted by donna View Post
            See this - halfway down the anchor mentions it but the link is broken.
            Thanks Donna, professional as always.

            Comment


            • #7
              The ASB have just stepped up , to say they will manage their own LVR .
              Effectively doing the RESERVE BANK's job for them.
              Probably so the RESERVE BANK TEAM can blame someone else for their sluggish and ill-considered behavior.


              Will it work?
              How can it?
              The commercial banks are directed to make profit.
              Might as well give a group alcoholics a key to the brewery.

              PLUS a 30% restriction on lending won't work,
              if houses are inflating at 20%,
              you only need a house and a half inflating to use the equity to grab a third house.

              How to get the RESERVE BANK TO GET THEIR BRAINS INTO GEAR.?
              We need BLOOD LIQUIDITY between their little ears
              Like our economy, the human body too needs CORRECTLY DIRECTED liquidity.
              We need to get the blood flowing around those stodgy, neural pathways.

              The JAPANESE have a good way,
              bless their souls.
              Exercise routines at the start of the day.

              I've even found the right one for the RESERVE BANK EMPLOYEES and their CONTROL TEAMS.
              One that self affirms promptness of response.

              Comment


              • #8
                Wow, the RESERVE BANK GOVENOR actually fronted on TV this morning.

                You have to give him credit for that.

                It's fair to remember that he has done some good work in some very in unusual times.

                But it's painful to watch him using outdated ways of thinking and irrelevant metrics, to gauge how well he's doing.
                He's failed.
                Even by his own logic.

                If low inflation is one of his core targets...
                then 20% runaway house inflation is a drastic fail, and his full responsibility.

                Since housing / rents take up such a huge chunk of real everyday working family incomes, ------
                Come on guys, get with it.. figure it out, you get paid enough to do several things at once.

                At lest it will give the COUNCIL an excuse to put up RATES, to cover that BILLION dollar debt hole they created through their management efficiency, or lack thereof.
                Last edited by McDuck; 13-11-2020, 10:15 AM.

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                • #9
                  Look, here's a hint.

                  Straight from Stephen Jay Gould.

                  All of your staff, in all the main centers, including upper management, are instructed to attend at lest one auction tis weekend, and al tol video conference in first thing Monday morning, giving their impressions of the reality.

                  It all starts with good, real, direct, data.
                  Last edited by McDuck; 14-11-2020, 06:10 AM. Reason: Typo

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                  • #10
                    Originally posted by McDuck View Post
                    Wow, the RESERVE BANK GOVERNOR actually fronted on TV this morning.

                    At least it will give the COUNCIL an excuse to put up RATES, to cover that BILLION dollar debt hole they created through their management efficiency or lack thereof.
                    What may seem like incompetence at first glance could actually be a tactic by design to give local councils time to put out new valuations and then grab more $$ from homeowners.

                    cheers,

                    Donna



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                    • #11
                      ANZ also imposing 70%
                      DFTBA

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                      • #12
                        Originally posted by cube View Post
                        ANZ also imposing 70%
                        It's going to be difficult for the RESERVE BANK STAFF to shift the blame on to the TRADING BANKS now.
                        Nice try though.

                        I see that the RESERVE BANK DEPUTY GOVENOR just doubled down on the claim that. "IT's NOT OUR JOB".
                        Close ranks boys?

                        Can the MINUTES TO THE L.V.R. REMOVAL MEETING be obtained, through the INFORMATION ACT?
                        Now there's a nice job for a bored reporter.
                        I'll confess, The group dynamic would be interesting to see.
                        Last edited by McDuck; 14-11-2020, 06:20 AM.

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                        • #13
                          Anyone know what our average DSR is at the moment? I know would vary a lot between AKL and rest of NZ.

                          cheers

                          Donna
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                          BusinessBlogs - the best business articles are found here

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                          • #14
                            Originally posted by donna View Post
                            Anyone know what our average DSR is at the moment? I know would vary a lot between AKL and rest of NZ.

                            cheers

                            Donna
                            That sort of information would be with the individual banks.
                            The RESERVE BANK only gives a general picture.

                            My general impression is that about 1 in 5 people are way out on the edge.

                            (The data is organized so the if you are less than three quarters of the way to the cliff, you are lumped in with " everyone else").

                            And you know how my little brain hates those simplistic clunky data sets, (it prefers to watch the three dimensional waves form, and suppress, and reflect).
                            Oh well, no fun for me.!

                            What exactly was it you were trying to figure out?

                            The only other thing I can tell you, is that compared to a year ago, everything is twice as big.
                            or as one particular pop icon likes to put it...



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                            • #15
                              I should clarify.

                              That's not 1 in five people
                              Or even 1 in 5 homeowners.
                              Just 1 in 5 of very RECENT HOUSE MARKET PLAYERS, and mainly due to the RESERVE BANK LVR removal.

                              If the two smaller POLITICAL PARTIES want to get some real control in the next election, they could set policy for the next generation.
                              Directing their attention to the needs of the younger people.
                              Those trying to save for houses, to grow a family, while trying to earn and educate themselves you know doing things the right way.

                              They will also get the votes of the GRANDPARENTS and PARENTS, now looking after the future of their children and grandchildren.
                              That's a nice powerful chunk of votes.

                              At the moment, the interests of the OLD GUARD are set against the young.
                              They need a hero.



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