Originally posted by Bob Kane
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Financial Armageddon!!
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Originally posted by Davo36 View PostYes, if interest rates ever go back there, half the country is under water. So it simply won't be allowed to happen.Last edited by JBM; 22-07-2017, 09:01 PM.
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Originally posted by Davo36 View PostYes, if interest rates ever go back there, half the country is under water. So it simply won't be allowed to happen.
If the future is as grim as JBM is suggesting, then the OCR won't be raised and interest rates will never get to 7% or more.
Which seems to shoot his argument to bits.
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"Never" and "won't happen" are a bit short sighted. 7%+ will happen in NZ again. Might take 30 years, 20,10 or even less but it will happen in most of our lifetimes and we'll all reminisce of the record lows of the 2010's.
I do find it quite ironic that it was only a few months ago, it seems, that every man and his dog were predicting rates of 8-10% by now. How quickly the predictions shift.Last edited by Learning; 22-07-2017, 11:16 PM.
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Originally posted by Learning View Post"Never" and "won't happen" are a bit short sighted. 7%+ will happen in NZ again. Might take 30 years, 20,10 or even less but it will happen in most of our lifetimes and we'll all reminisce of the record lows of the 2010's.
I do find it quite ironic that it was only a few months ago, it seems, that every man and his dog were predicting rates of 8-10% by now. How quickly the predictions shift.
Interest rates have risen from low basis
In the late 1960''s many people had State Advance loans interest rates were 3pc
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If there are people on this board stupid enough to think interest rates won’t ever hit 7% or more again, they deserve the inevitable result of going bankrupt that awaits them.
perhpas we’ll need to invest more in anti-suicide campaigns as interest rates increase.
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I think that's what the rules about not being able to roll out IO loans forever are to protect against. By forcing people to suck it up and pay some principal off they protect against defaults in the long term, or so the theory goes.
Originally posted by Learning View Post"Never" and "won't happen" are a bit short sighted. 7%+ will happen in NZ again. Might take 30 years, 20,10 or even less but it will happen in most of our lifetimes and we'll all reminisce of the record lows of the 2010's.
I do find it quite ironic that it was only a few months ago, it seems, that every man and his dog were predicting rates of 8-10% by now. How quickly the predictions shift.Free online Property Investment Course from iFindProperty, a residential investment property agency.
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Oh hey I wish they would go back to 7 or 8 percent.
Far too many people out there borrowed up to their eyeballs at the low rates IMHO.
BUT, it simply won't happen in the near future (next couple of years say), because it can't happen, because the whole financial system will collapse if it does.
Do you guys really think the government is going to a) Let the financial system collapse or b) Bail it out.
I know which I think will happen.
I wish they would let them go bust, that's true capitalism. What we had in recent years was capitalism for the small guys, socialism (via taxpayer funded bailouts) for the big guys.Squadly dinky do!
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Originally posted by Bluekiwi View PostLet me pay off my debt on the rentals before rates go crazy Davo.
Okay, mental note, buy more houses 2018 to 2021, sell them 2025 for 50% more, pay off the rest of my debt.
Can you give me another 8 years Dave of low interest ratesSquadly dinky do!
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We must be at the top of the market, Shambles has bought a house (link to PT Thread):
And he's saying it's not about the financial aspects of it, which still favour renting, but that he and his wife want it for security since they now have a kid.
Well, duh mate. Don't you think this is possibly why others have been keen to buy houses?Squadly dinky do!
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Yeah I put my usual 2 cents in to this thread that just noted it.
Top of market was mid 2016 though.
So give him his fair due's the real coal face market price of property has come down about 100k to 150k in the last 9 months.
I would put us near the bottom, although election time or Christmas or mid 2018 could be the bottom.
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then there was this druing the week.
Steven Joyce came very close last week to saying he wanted a big fall in Auckland house values. So would he take action after the election if government moves to boost housing supply come up short?
If you blinked, you may have missed it. But Finance Minister Steven Joyce last week came very close to saying the National government wants all Auckland property values to become much lower than they currently are.
Not in those words exactly, but that’s how I’m reading through this line put out on Thursday: “We must keep a strong focus on land supply so that section prices become much more reasonable.”
http://www.interest.co.nz/opinion/88913/steven-joyce-came-very-close-last-week-saying-he-wanted-big-fall-auckland-house-values
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