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  • breaking news :)

    Gotta love the way this editor finds her gems

    http://www.nzherald.co.nz/business/n...ectid=11582668


    Depends a lot on its ability to prevent Chinese capital flight...

    Instead there has been talk from the People's Bank of China of a "severe crackdown" on illegal currency transactions and a "strengthening of checks" on the validity of transactions.
    The net effect of this is it will be more difficult for many to get money out of China. The crackdown - without changing official policy - will also send a strong signal to a Chinese public which is highly attuned to these kind of proclamations.
    Fewer will try to move money through official channels and as the grey areas become more risky we may see a spike in the proportion of black market. To whatever extent Chinese foreign investment was driving a spike in Auckland house prices we could now see that abate.

    http://www.nzherald.co.nz/best-of-bu...ectid=11582670
    Last edited by BlueSky; 01-02-2016, 06:13 PM.

  • #2
    What sort of country stops it's citizens from taking their money out these days?
    Squadly dinky do!

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    • #3
      Originally posted by Davo36 View Post
      What sort of country stops it's citizens from taking their money out these days?
      The same country that makes it illegal to sell shares there in order to prevent the market from crashing.
      Facebook Property Chat Group NZ
      https://www.facebook.com/groups/340682962758216/

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      • #4
        While reading the first article, all I could think was if the property mentor was any good he would be advising his students to sure up there portfolios while they can now. Some may already have to accept losses.

        I am guessing that this is the actual message he is sending ( he is seasoned enough to know what happens from here) and via the article is trying to lure new and foolish money into the sector so that he can do just that.

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        • #5
          His students are predominantly Asian so using parents money and looking to park cash. Of course they get mortgages but they are not in the same position as most of us. So buying more is exactly what they should do. You may end up with some left wing government in the future that stops them buying at all.

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          • #6
            Parking our cash in auckland property is a lot better than term deposits

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            • #7
              Originally posted by orion View Post
              The same country that makes it illegal to sell shares there in order to prevent the market from crashing.
              America circa 2008? :-P
              Free online Property Investment Course from iFindProperty, a residential investment property agency.

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              • #8
                Originally posted by Nick G View Post
                America circa 2008? :-P
                credit default swaps anyone?


                It is plausible, the rich have a way with moving their money around, and the rest who saved every penny will be desperate to get their money out against a falling confidence in China if it all goes pear shaped - its a risky affair whichever way you look at it .

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                • #9
                  Originally posted by Gary Lin View Post
                  Parking our cash in auckland property is a lot better than term deposits
                  Not so sure in the medium term. Just make sure your portfolio can handle a correction beyond what you think would be worst case.

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                  • #10
                    Originally posted by watchful View Post
                    Not so sure in the medium term. Just make sure your portfolio can handle a correction beyond what you think would be worst case.
                    We have property (Grey Lynn and Westmere primarily for our Auckland stuff) but bugger all debt so not concerned long term. Rent well and easy to get good tenants who just don't want to shift out. Rural property also which is a bigger concern for us but still good yield even with a depressed dairy price.

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                    • #11
                      Breaking news!.....Journalists need to sell news to make a living
                      Living a more meaningful & enhanced life with investments, business and blogging. www.theFIminator.com

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                      • #12
                        Originally posted by Zorwarrior View Post
                        Breaking news!.....Journalists need to sell news to make a living
                        I think he/she was being sarcastic...

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                        • #13
                          Yes 'he' was JA My point is i never make investment decisions on newspaper articles
                          Living a more meaningful & enhanced life with investments, business and blogging. www.theFIminator.com

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