The way it used to be...

[exnzpat]

In another thread Expat you were talking like you owned more than one

I do -- but it's complicated. It's just easier to say I have one.

[eri]

I did sell all my properties – but one. Now all I'm asking is that its value does not drop any further. Isn't that what we all want?

i sold my 1 bit of scrub in 2004, so i would like property prices to drop back to 2003 levels, inflation adjusted

so no, i guess we all don't want prices to stabilise at these historically high levels

if the gov fights tooth and nail to prevent them from dropping we could well be in for a lost decade of stagflation, a la japan

which would probably be worse for the than a short sharp adjustment

[tpr2]

Well that was an interesting series of posts. I'm not sure I'm overly motivated to sell my properties today exnzpat so that you don't lose anymore money.

I do have a property or 4 on the market but not because I am afraid I am going to lose money in the near future but because I don't believe holding the levels of debt I have is a good idea going into 2009.

So perhaps I will inadvertantly help you out in a very small way, which means you owe me a coffee....lol

[exnzpat]

Well that was an interesting series of posts. I'm not sure I'm overly motivated to sell my properties today exnzpat so that you don't lose anymore money.

I do have a property or 4 on the market but not because I am afraid I am going to lose money in the near future but because I don't believe holding the levels of debt I have is a good idea going into 2009.

So perhaps I will inadvertantly help you out in a very small way, which means you owe me a coffee....lol

Terry, Good luck, but I’m sure it’s too late now. Neither summer nor low interest rates will help…

Essentially, you will know the market has turned when; one morning you simply wake-up and it will be over.

Interestingly, this appears to be the pattern that has been experienced about the globe. Slow sales, rents falling, unemployment rising, interest rates deliberately lowered to reactivate borrowing and then wham!! Financial Armageddon!

My guess for NZ still stands at somewhere around the end of February or March.

I'll be happy to buy the coffee -- I'll be using USD so it will feel like a bargain!

[tpr2]

lol.... I'm easily bought.

And your right the time to sell should have been earlier in the year but I must admit I was focused on some busness expansion (which didn't prove to be such a good thing...lol) anyway I have sold 1 of the 4 so far and if I want to drop my price on another couple they will go.

I probably will because I will still make a profit it will just mean a bit more debt than I wanted going into 2009 but hey, if your buying the coffee I can afford to keep a bit of debt around

[eri]

1 month ago i scrapped together all my coins and bought the minimal packet of toyota shares and an equal amount of gold

my question to people interested in such things has been

"when i've got enough to make another purchase should it be more gold or more toyota shares?"

most have said gold

which means they feel we are not at the bottom yet

and they are right

as since then gold has risen $100 an oz and toyota have fallen 25%