Financial Armageddon!!

[Sanya]

The dilemma is if you start cashing out now, your probably selling at the bottom of the market. Versus basically having your assets tied to the sinking fortunes of NZ inc. There’s a compromise somewhere.

Yes. That indeed is the dilemma.

One possible solution is to move some of your assets offshore, so that they are not tied to NZ's sinking fortunes.

[McDuck]

It appears Duck has had a few jabs , its affecting his thinking..

Roast!
Chook joins the roast.
Are we looking for a little roast chicken?
I'm sorry, this poultry contribution is not to my taste.
And besides, I try to keep away from people who use fowl language.
yawn,
back to the topic perhaps?

[McDuck]

Yes. That indeed is the dilemma.

One possible solution is to move some of your assets offshore, so that they are not tied to NZ's sinking fortunes.

Don't you still have to exit the asset class at a sub optimal price point?

[Sanya]

Don't you still have to exit the asset class at a sub optimal price point?

That would depend on timing (purchase and sale) and the type of asset.

[Frezzinghot]

It appears Duck has had a few jabs , its affecting his thinking..

Another joker speaking in riddles, I'm not to bad with the kings English myself! I just don't want to show I'm a know it all.

[McDuck]

Another joker speaking in riddles, I'm not to bad with the kings English myself!

He says modestly.
We'll be the judge of that.
Chill, its just fun.
Seriously, you did ask a good question.
I had to think.
No, property is not a service. ..
it's... property.
But there is a small amount of service type work involved in owning it.
I figured that a property manager gets about 60K per year for running about 50 properties.
So about $20 per week is all you can claim per property.
Now at $20 per week, it's going to take you a long time to save a deposit.
Aaaand back to the bad dad jokes.
You aren't egging Chook on are you.

[Engineer]

This is interesting because what the NZ government has done with non deductibility of interest is far far worse than in the UK.
For example, there's no 20% mortgage tax credit in NZ for personal ownership.

In essence, you can effectively loose money in property investment, then get a large tax bill on top.
Its like going out to work, earning no money, then having to pay tax.

Madness.

Bring on the October intelligence test.

[donna]

That’s a good video and as you say it’s worse for us here in NZ - currently.


cheers

Donna

[chook]

Big problems in China currently, this is just their property market which has tanked badly, been going on for 2 years. This is why NZ is in big trouble with Dairy and forestry right now.

Is NZs property market about to follow suit? Imagine if our market dropped like this in 2 years? Dont laugh.... THIS IS QUITE POSSIBLE!

[McDuck]

Big problems in China

Don't you just love how people are people the whole world over.
That oh so typical dead cat bounce at the end. Haha

[chook]

Don't you just love how people are people the whole world over.
That oh so typical dead cat bounce at the end. Haha

Yeah the "relief rally" and then it goes another 30 - 60% DOWN

[chook]

Final warning, everyone OUT..

[Engineer]

From the worst government in history files:
The rotund master of coin has been busy

Debt blowout: Government expected to borrow $35 billion more than planned eight months ago



Westpac economists believe this will mean that instead of issuing $120b of New Zealand Government Bonds (debt) in the four years to 2026/27 (as forecast in May), Treasury will need to issue $135b.

In other words, if the Government sticks to its spending plans, and if Westpac economists’ forecasts of Treasury’s forecasts eventuate, the Government will need to borrow an extra $15b over the next four years.

https://www.nzherald.co.nz/business/government-expected-to-borrow-35pc-more-than-planned-eight-months-ago

[donna]

Who are they going to target to pay for it?

[Perry]

Borrow and leave the pay-back to later generation?