Bank "Stress Testing" and Media hype?

[richard56]

Hi
If the banks are stress testing their customers as per this.....

"This test is done on principal and interest payments over a 30-year term at whatever their servicing rate is, typically between 6 per cent and 7 per cent."

Then isn't all this doom and gloom...

[richard56]

Hi
I will only stay in Mt Wellington for a few more years then retire back down too Canterbury.
Being brought up on the standard 1/4 acre with big back yard and garden I could never live on one of those town house developments.

Plus I don't want too think what they will be...

[richard56]

Hi
These town houses are at the end of my street and yes they don't look nice at all.

But it is the way my area is going with another 6 or more sites being built on as we speak.
All with in a 10 house walk of my PPOR.

My PPOR is a single story 1950 dwelling on a...