Header Ad Module

Collapse

Announcement

Collapse
No announcement yet.

2009 - what a year...what's happened?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • 2009 - what a year...what's happened?

    As we are in the final straight for 2009 - I thought I'd start a discussion on what happened in 2009.

    I'll start it off with what I remember....

    • Richmastery - no longer in business
    • Mark Bryers (Bluechip) goes bankrupt
    • Madoff gets 150 years Jail term

    I am sure there's lots more -

    Cheers,

    Donna
    SEARCH PropertyTalk, About PropertyTalk

    BusinessBlogs - the best business articles are found here

  • #2
    To add to your list Donna:
    • 4 day working week/9 day working fortnight

    On a personal level, it has been a dreadful year for our family with one thing and another, and some of our friends too. Still, what doesn't kill you only makes you stronger :-)

    Comment


    • #3
      Interest rates stayed low, house sales were quiet but steady, Unemployment climbed slowly, the nationwide bike track thing started being built in the waikato, Cashflow was king, IRD wasn't.

      Comment


      • #4
        fixed rate terms flipped inside out, floating became lower than the fixed rates and the longer terms become a lot higher than the shorter terms.
        Hamish Patel | ph: 09 625 4693 | mob: 021 625 693
        My Website
        Be informed - register for our free monthly newsletter

        Comment


        • #5
          • new NZ property investment training business - PropertyTutors
          • promotion of Tax Liens in USA
          • Lots of Property Developers go bankrupt
          • fixed rate property management fees

          geez we can create quite a list...and I'll create it as a summary in a couple of weeks once we've all had plenty of time to contribute.

          Cheers,

          Donna
          SEARCH PropertyTalk, About PropertyTalk

          BusinessBlogs - the best business articles are found here

          Comment


          • #6
            Gold through US$1130.00 per oz.
            "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

            Comment


            • #7
              Non Bank Lenders (sub prime) quietly ripped off NZer's by millions of dollars using creative wording in break fee clauses, and no one seemed to notice.

              Comment


              • #8
                Originally posted by Asterix View Post
                Non Bank Lenders (sub prime) quietly ripped off NZer's by millions of dollars using creative wording in break fee clauses, and no one seemed to notice.
                Yeah wow what a good one Asterix!

                Cheers,

                Donna
                SEARCH PropertyTalk, About PropertyTalk

                BusinessBlogs - the best business articles are found here

                Comment


                • #9
                  One year of a National Govt in power after a decade of university lecturers and other mis fits of society running the country.

                  Comment


                  • #10
                    Originally posted by Asterix View Post
                    Non Bank Lenders (sub prime) quietly ripped off NZer's by millions of dollars using creative wording in break fee clauses, and no one seemed to notice.
                    That one's movie material.
                    Last edited by dandan; 19-11-2009, 11:52 PM.

                    Comment


                    • #11
                      maybe the shoe would fit better if it was on the other foot

                      imagine you had $100k to put into a term deposit and a range of choices from 1 [email protected]% to [email protected]%

                      not needing the money for 5 years you decide to go for the extra 2% and lock it way for 5yr rather than 1yr

                      1 yr later

                      shock horror! - interest rates have risen 2%, you now can get [email protected]% and [email protected]%, you didn't know that would happen, fair's fair, you should be able to go back and renegotiate your term dep

                      so you trot back into the bank and say thank you very much for the 1 [email protected]% but my circumstances have changed so i would like to cancel my term deposit 4yr early, pay a few pennies as penalty and reinvest it for [email protected]%

                      the bank says, "well, we are the bank that never says no, so sure, why not, break the contract we don't care

                      and the 5 mortgage holders who borrowed that same $100k off the bank for IP get letters in the mail saying, sorry the depositor that was funding your loan has told us they would like to break the contract early so can have a little more money, we've said yes, which means your monthly repayments have gone up, not to worry if you can't afford an increase, you can also continue to make the same payments, you'll just have to make more of them

                      there you go, everyone's happy!
                      Last edited by eri; 20-11-2009, 02:25 AM.
                      have you defeated them?
                      your demons

                      Comment


                      • #12
                        Originally posted by Glenn View Post
                        One year of a National Govt in power after a decade of university lecturers and other mis fits of society running the country.
                        Does that take us out of the frying
                        pan and into the fire? They may be
                        colour-coded differently, but as far
                        as I can see, we've just swapped one
                        lot of mis-twits for another.
                        Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

                        Comment


                        • #13
                          Maybe we could add a few guesses at what
                          idiocy will besiege PIs and PMs in 2010? In
                          the sense of being a semi-natural follow-on
                          from the legend for 2009.

                          After watching a pedestrian nearly walk under
                          a car while using a cellphone, can we expect
                          a total ban on cell phone use except between
                          consenting adults in the privacy of their own home?
                          Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

                          Comment


                          • #14
                            Originally posted by eri View Post
                            maybe the shoe would fit better if it was on the other foot

                            imagine you had $100k to put into a term deposit and a range of choices from 1 [email protected]% to [email protected]%

                            not needing the money for 5 years you decide to go for the extra 2% and lock it way for 5yr rather than 1yr

                            1 yr later

                            shock horror! - interest rates have risen 2%, you now can get [email protected]% and [email protected]%, you didn't know that would happen, fair's fair, you should be able to go back and renegotiate your term dep

                            so you trot back into the bank and say thank you very much for the 1 [email protected]% but my circumstances have changed so i would like to cancel my term deposit 4yr early, pay a few pennies as penalty and reinvest it for [email protected]%

                            the bank says, "well, we are the bank that never says no, so sure, why not, break the contract we don't care

                            and the 5 mortgage holders who borrowed that same $100k off the bank for IP get letters in the mail saying, sorry the depositor that was funding your loan has told us they would like to break the contract early so can have a little more money, we've said yes, which means your monthly repayments have gone up, not to worry if you can't afford an increase, you can also continue to make the same payments, you'll just have to make more of them

                            there you go, everyone's happy!

                            Yes, eri

                            that is exactly what a large number of those with term deposits did from early Nov 08 for a period of about 3 weeks.
                            Took their money out and put it with Finance companies for 18 mnths covered by the DGS and are earning over 10%. Government guaranteed.

                            Some bank's penalties for breaking a TD are quite reasonable.

                            I guess using 5 mortgage holders in your example, you are using a mortgage of 180k each to get the approx 900k of lending for a 100k deposit?
                            Would that be about right?

                            cheers
                            SB
                            Last edited by speights boy; 21-11-2009, 02:33 PM. Reason: sentence change

                            Comment


                            • #15
                              hang on a minute...
                              wasnt just the non bank lenders. think about it.

                              Another one. The government gaurantees to cover all deposits.
                              Which means they know the majors do not have the readies to back up the deposits.
                              Which means if it came to the crunch the Gov would bail the majors using cash they dont have. In other words they would print more $ and pump it in to the system and your truely would be paying for that (tax, yes that is what it is) in the form of inflation.
                              This is fact.

                              Hec

                              Comment

                              Working...
                              X