Morgan advises home owners not to panic
By NIKKI PRESTON - Waikato Times | Saturday, 17 May 2008
While real estate agents urge buyers to snap up good deals, high-profile economist Gareth Morgan warns would-be house buyers not to be in a hurry.
Dr Morgan will be in the Waikato on Wednesday night sharing a mix of heavy investment expertise on property prices, financial advice on how to make the most of KiwiSaver sprinkled with light-hearted tales about motorcycling around Africa and Antarctica to raise money for Sport Waikato.
Not only has Dr Morgan promised to share his expertise, he is also paying for it. He and his wife Joanne will be matching the total amount raised from the $15 door charge.
"If the community raises $15,000 then we will give $15,000," he said.
The investment manager, the father of TradeMe's Sam Morgan, will put the property market under the spotlight and discuss the likelihood of prices returning to normal either through a "slow burner effect" over a six year period or in "flames".
House prices continuing to slide was "great news" as it meant the home ownership would be more accessible for a larger number of New Zealanders, he said. The stabilising of the house market would not affect most homeowners.
"Unless you are up to your eyebrows in debt you can ride it out, but if you are up to your eyebrows then you are stuffed."
He said New Zealand was not alone in turns of the global downturn and was following the rest of the world.
Dr Morgan also believed Kiwis should make the most of the subsidies offered by KiwiSaver while they could as he didn't foresee them lasting too long.
"Don't be silly about it. It's under tax breaks so only use up to the limit," he warned.
"Once you are in, you can't get out."
After the two week tour of New Zealand raising money for different charities, Dr Morgan and his wife are heading off to Iceland to continue their round-the-world motorcycle trip. They will also be sharing stories of their motorcycling adventures so far at the presentation.
To register for the seminar at the Founders Theatre in Hamilton at 5.30pm next Wednesday visit www.gmk.co
http://www.stuff.co.nz/waikatotimes/4551145a6415.html
By NIKKI PRESTON - Waikato Times | Saturday, 17 May 2008
While real estate agents urge buyers to snap up good deals, high-profile economist Gareth Morgan warns would-be house buyers not to be in a hurry.
Dr Morgan will be in the Waikato on Wednesday night sharing a mix of heavy investment expertise on property prices, financial advice on how to make the most of KiwiSaver sprinkled with light-hearted tales about motorcycling around Africa and Antarctica to raise money for Sport Waikato.
Not only has Dr Morgan promised to share his expertise, he is also paying for it. He and his wife Joanne will be matching the total amount raised from the $15 door charge.
"If the community raises $15,000 then we will give $15,000," he said.
The investment manager, the father of TradeMe's Sam Morgan, will put the property market under the spotlight and discuss the likelihood of prices returning to normal either through a "slow burner effect" over a six year period or in "flames".
House prices continuing to slide was "great news" as it meant the home ownership would be more accessible for a larger number of New Zealanders, he said. The stabilising of the house market would not affect most homeowners.
"Unless you are up to your eyebrows in debt you can ride it out, but if you are up to your eyebrows then you are stuffed."
He said New Zealand was not alone in turns of the global downturn and was following the rest of the world.
Dr Morgan also believed Kiwis should make the most of the subsidies offered by KiwiSaver while they could as he didn't foresee them lasting too long.
"Don't be silly about it. It's under tax breaks so only use up to the limit," he warned.
"Once you are in, you can't get out."
After the two week tour of New Zealand raising money for different charities, Dr Morgan and his wife are heading off to Iceland to continue their round-the-world motorcycle trip. They will also be sharing stories of their motorcycling adventures so far at the presentation.
To register for the seminar at the Founders Theatre in Hamilton at 5.30pm next Wednesday visit www.gmk.co
http://www.stuff.co.nz/waikatotimes/4551145a6415.html
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