Header Ad Module

Collapse

Announcement

Collapse
No announcement yet.

What We Need is Another Report

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • kapitibeanman
    replied
    I've got an insane urge to just do it anyway....

    Leave a comment:


  • speights boy
    replied
    Don't tell ENP that, Mr Bean.

    He may be tempted to fall into the middle age mortgage trap, as opposed to running a backpackers bar in Luang Prabang.

    Leave a comment:


  • Neongreen
    replied
    And a hot young chick to boot?

    Leave a comment:


  • kapitibeanman
    replied
    I was just thinking that the graphics seemed to be suggesting I just might get youth and vigour along with the mortgage,

    Leave a comment:


  • Perry
    replied
    Originally posted by kapitibeanman View Post
    How could they do that, Perry?
    I don't grasp your question. I saw the
    5% thing as an attempt to make it
    more attractive, despite all those
    bits of fine print.

    Getting one's hopes hope may lead
    to disappointment. Perhaps akin
    to Robin's post?

    Leave a comment:


  • Neongreen
    replied
    Originally posted by kapitibeanman View Post
    You can be quite sure that if you were contemplating selling, you would be thinking the opposite. Fear not, and keep your powder dry.
    Oh I'm dead certain I'd be thinking that.

    If investing meant acting on feelings, it wouldn't be a very smart thing to do. So I just keep plodding on until my excel spreadsheet says otherwise.

    Leave a comment:


  • kapitibeanman
    replied
    Originally posted by Perry View Post
    if they don't make mortgage finance
    more attractive

    How could they do that, Perry?

    Leave a comment:


  • kapitibeanman
    replied
    Originally posted by Neongreen View Post
    How's this for frustrating - 6 months off being able to purchase my first IP.

    I have this feeling that by the time that arrives, I'll have missed the beginning(and most profitable part) of the property cycle.
    You can be quite sure that if you were contemplating selling, you would be thinking the opposite. Fear not, and keep your powder dry.

    Leave a comment:


  • Perry
    replied
    Well, I'm sure the productivity commission will
    fix it - right? As in produce lots of words and
    reports and pronouncements and expense . . .
    Some amusement for y'all here.

    Leave a comment:


  • Neongreen
    replied
    Perry, the 5% deposit is still holding a lot of people out of the market here. Remember, 5% of 400k is $20k. The banks require that to be genuine savings, so gifting isn't an option. There's also a heap of restrictions on the types of properties they will lend on.

    I'm betting there's one more step to go, and that's loosening the criteria around what homes are acceptable, and how stringently that 5% deposit is assessed.

    Once that happens, all bets are off.

    As to why it would happen, why do all banks loosen their criteria? To make more money, of course. It becomes a self perpetuating cycle - they've just loosened up a bit, so sales have ticked up a bit, so they will loosen up a bit more, rinse and repeat.

    Note that I'm not an expert, all of this is my personal opinion and I could very easily(and probably will) be wrong.

    Leave a comment:


  • Perry
    replied
    Isn't it already happening? As in, after over-reacting,
    banks have worked out parlous cashflow years are
    likely, ahead, if they don't make mortgage finance
    more attractive. Lots of conditions, but . . . .

    Last edited by Perry; 22-06-2011, 11:38 PM.

    Leave a comment:


  • speights boy
    replied
    Originally posted by Neongreen View Post
    The banks are still picky about deposits. As soon as this loosens up a bit further, .........
    What do you think will be the catalyst for this?

    Leave a comment:


  • Neongreen
    replied
    The area I'm in is showing all the initial signs of upswing - affordable properties moving very quickly, sub $400k within days(this is for North Shore, Auckland, where $350-$400k is the entry level range for a 2-3 bedroom house), all that's needed is the lending to loosen up to accommodate higher prices.

    In the past 3 months lending has loosened up significantly, but it's not quite there yet. The banks are still picky about deposits. As soon as this loosens up a bit further, it's my feeling that prices will begin their rise.

    Leave a comment:


  • Jumpin
    replied
    I think that's very unlikely

    Leave a comment:


  • Neongreen
    replied
    How's this for frustrating - 6 months off being able to purchase my first IP.

    I have this feeling that by the time that arrives, I'll have missed the beginning(and most profitable part) of the property cycle.

    Leave a comment:

Working...
X