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  • tpr2
    replied
    In the 300k to 400k markets they would be delivering over 8% though?

    I'll ask the team tomorrow...lol.... they do the hunting.

    Leave a comment:


  • 67910241
    replied
    Originally posted by tpr2 View Post
    Where did you find that info Greenfish?

    I thought the Auckland house prices were nudging the 9% plus or is that just anecdotal on my behalf because the guys are out hunting for those bargains.
    700k Remmers house still about 650p/w in rent, 700 tops. 5% gross. A bit better, ie. 6-7% inner city fringe.

    Akl Central Apartments - you know well, much better yields but higher outlays too and capital growth = god knows when and if

    9%+ quite achievable but via a mortgagee sale in a ghetto.

    All quite low considering the unemployment risk.

    Leave a comment:


  • tpr2
    replied
    Originally posted by Green Fish View Post
    Current yield on Auckland houses: 3.5-4%.

    Current on-call rate at the bank: 3.5%

    Sit tight.
    Where did you find that info Greenfish?

    I thought the Auckland house prices were nudging the 9% plus or is that just anecdotal on my behalf because the guys are out hunting for those bargains.

    Leave a comment:


  • tpr2
    replied
    Originally posted by 67910241 View Post
    Not only reorganised, but probably entirely reinvented. Way too much political risk, and way too much work involved to reorganise the financial system essentially from scratch. That option was a no-go from the start.



    I'd prolly trust old Terry I know personally over many esentially faceless and shame-free financial institutions out there.
    awww thanks 679

    Leave a comment:


  • Green Fish
    replied
    Be Patient, and Wait:

    Current yield on Auckland houses: 3.5-4%.

    Current on-call rate at the bank: 3.5%

    Sit tight.

    Leave a comment:


  • 67910241
    replied

    The reality is though that if you let the banks collapse today, then it will take some time for those other methods of payment for example to be organised.
    Not only reorganised, but probably entirely reinvented. Way too much political risk, and way too much work involved to reorganise the financial system essentially from scratch. That option was a no-go from the start.


    So the cash idea probably won't work for a few of those....they could take my "promise / obligation" but wholly crap the whole world has just collapsed so why on earth would we accept a promise from that Terry bloke, after all if the banks can collapse he probably could too.... cash only please but how do we get it?
    I'd prolly trust old Terry I know personally over many esentially faceless and shame-free financial institutions out there.

    Leave a comment:


  • tpr2
    replied
    Fair call 679, I was being extremely simplistic to make a point.

    The reality is though that if you let the banks collapse today, then it will take some time for those other methods of payment for example to be organised.

    Cash is an easy answer but take my Oz business for example. $40,000 per month of fixed expenses. So I need to make sales of $1000,000 per month to pay the sales team, pay the bills and have a bit left over for me.

    Now $100,000 in cash is a fair bit of money to keep on hand. Not only that but telstra who gets up to $10,000 (max) per month doesn't have an office nearby for me to be able to take that bag of money over to.

    The landlord gets $8k so I guess he would show up cap in hand with little bag and the staff of course have no trouble in taking their bit home in their wallets.

    The guys who lease us the copier expect just over a grand each month but they are in Brissy so not too keen on popping down to pick up a lousy $1000 unless they have other businesses in the area they can collect from.

    The Mercedes boys want their $3500 per month but they are a long way away.

    So the cash idea probably won't work for a few of those....they could take my "promise / obligation" but wholly crap the whole world has just collapsed so why on earth would we accept a promise from that Terry bloke, after all if the banks can collapse he probably could too.... cash only please but how do we get it?

    Yes the banks will be the governments little b***** however is this really a bad thing considering how they have performed so far lol

    Leave a comment:


  • 67910241
    replied
    Originally posted by tpr2 View Post

    Do you have a job?

    How will you be paid if our local banks collapse?

    How will customers pay your employer if local banks collapse?
    Sorry but that was not very educated either Terry.

    Jobs have existed for centuries before modern banking has.

    The payment (rather well known and recognised even today by those working in the building and construction traders) can be in:

    - Cash (real or fiat)
    - Bartered goods and services
    - Promises/Obligations

    The last are no worse but probably better than the promises of disfunctional, state-support needing banks.

    Zimbabwe has an extremely active central banking system. They're very good at printing large volumes of ever more valueless money, and the Western societies have only started to learn this art.

    However, I also entirely agree that bailing out the banks was an easier, far less risky option, but I am really surprised that the taxpayer hasn't ALWAYS assumed some or sometimes even sole ownership of the rescued banks.

    Once you go begging for government money and get it, you're simply not a private party anymore. You're government's little b****, and should be treated as such by every independent private or legal entity out there.

    Leave a comment:


  • tpr2
    replied
    So you have 100% of your portfolio in gold do you east?

    Allowing local banks to collapse is probably one of the less educated comments I have heard so far.

    What happens to commerce if all the local banks collapse East?

    Do you have a job?

    How will you be paid if our local banks collapse?

    How will customers pay your employer if local banks collapse?

    Systemic risk is not something you normally associate with countries like NZ, OZ , US etc however it is a major risk ight now.

    Allowing our banks to collapse would put us into the same boat as zimbabwe in about 2 seconds East. Then your gold would be useful.

    Leave a comment:


  • east147
    replied
    Don't count me out guys... When the bottom hits and it will I will be coming back into the market but it's not this year as it's just going to keep falling.

    Any brokers or real estate websites are going to spin it so it's up to you to see common sense and logic its simply never been this bad - stop kidding yourself.

    You can't print money that does not exists and that's what our governments are doing... they are paying back privately owned central banks that we the people have no control over! There not our banks and they should have, like any other operating businesses, been allowed to fold - if you owned a business and you faced hard times like these banks you would have no help.

    But this is not the issue its the printing of trillions of dollars that you need to analyse and not ignore... you don’t just stick your cash in a bank or invest in a property... if you do without research and analyses you deserve everything that happens to you. I pulled all my cash out and sold up 18 months ago... sure I did not hit the peek but I got out with not big losses some folks are not as fortunate but if I had one property on the books now I would get out.

    For now my cash is tied up in historical gold coins I have already increased by 35%... Terry that's 'H' as in history not a paper contracts spot of hedges! I own my numismatic gold and silver coins unlike folks who buy paper gold. And no I am not here to sell anything Terry just seeing what all the fuss is with clowns who think the market is stable or going to go up in the next 30 or 40 years. If you haven't got it now you never will!!! There is way tooooo much debt we simply cannot come back from this one it's this serious!

    Leave a comment:


  • tpr2
    replied
    lol..... sounds like a good place for it to be.

    Leave a comment:


  • BusyLizzy
    replied
    FYI - I have moved the 'coffee bean' discussion to the Coffee Lounge: http://www.propertytalk.com/forum/sh...ad.php?t=20962

    Leave a comment:


  • tpr2
    replied
    Yep I like Tauranga, the Mount and Papamoa in the tahatai school zone.
    It's been good to me over the years and I am sure it will continue to do so in the future.

    Oh yeah the back porch does great coffee too which also helps my love of the area.

    Leave a comment:


  • Viking
    replied
    Hmmm. Well I just checked Trademe as I do and the Tauranga listings have fallen by 150 from the peak a few months ago. Lot of newly dated listings in the area i looked at so something is going on out there. Consistent with what the agents tell me.
    We are looking forward to a good migration season over the next few years. Looks like the ever hopeful Aucklander's are going to get the egotistical Sir John Banks as Lord mayor. (why else did the other John bring back Titular honours?).
    Now that should encourage a lot of the jaffa's to move South (or North) as they feel even more disenfranchised.
    Lesson, buy Tauranga, Coromandel,North of Rodney even Hamilton.

    Leave a comment:


  • watchful
    replied
    So is Bernard Hickey sticking to his prediction of a 30% drop in RE prices by the end of 2009 ... or not?

    What an idiot.

    Leave a comment:

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