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  1. #5261
    Join Date
    Jul 2017
    Posts
    274

    Default

    Quote Originally Posted by Davo36 View Post
    One third hand account. An anecdote.

    Even if it's correct, so what? Doesn't mean every other agent out there is unethical.
    Davo36,

    This is an anecdotal story which happened to a very close family relative. You're right that not all agents are unethical, there will be some good agents out there. It's all a case of financial incentives that drive behaviour.

  2. #5262

    Default

    Quote Originally Posted by Simmo View Post
    +1

    Followed closely by the insurance industry IMO.
    Roman catholic priests would have to rank highly on this list too i would imagine
    Last edited by Perry; 24-03-2019 at 07:18 PM. Reason: fixed typo

  3. #5263

    Default

    NZ and Aus have not been doing the old cyclic currency up and down that use to be so easy to read along with Telecoms shares which seemed to follow the same pattern.

    With NZ so heavily in debt due to borrowing so heavily during the GFC, then people thinking that means we could just create another property spike and borrow heavily.

    What is it going to take to burst these 2 lending double bubbles ? Who did we borrow from, the Crown? Are they likely to want recall any time soon?

    I read it as over $280 million debt.

    For a small economy thats a daunting red.

    I have reserve bank lending/debt circa $430 billion. That makes our international debt look minuscule. So we/reserve bank are printing money if our economy dives basically?

    So Crown debt isnt really that large, its there and probably 1/5th the gdp (dont quote me, Im trying to get my head around this). But the reserve bank debt is nearing half a Trillion. That is scary.

    So if our economy takes a dive, unemployment rises which dominos foreclosures on the reserve bank debts, which potentially could see massive interest rate rises which would further foreclosures.

    Uggh im not an economist and not pretending to be, just trying to understand where the threat lies and to me the reserve bank lending is a time bomb waiting for the fuse to be lit......

    Dont quote me, not an economist, but in laymen it dont look flash. Private debt levels and unavoidable interest rate rises are the bomb. At what point do people who borrow $700k on $140k combined income start to panic? 7%? 8%? I miss the good old days of 16% now that would be foreclosure city. All our housing would be owned by the reserve bank hahahaha
    Last edited by OnTheMove; 25-03-2019 at 11:42 PM. Reason: u

  4. #5264
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,879

    Default

    Quote Originally Posted by OnTheMove View Post
    I read it as over $280 million debt.
    Billion or million?

    Quote Originally Posted by OnTheMove View Post
    Uggh im not an economist and not pretending to be . . .
    Don't worry - most self-styled econ-o-mists are only pretenders.
    Last edited by Perry; 30-03-2019 at 11:31 AM. Reason: added link
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  5. #5265
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,879

    Default Six and a Half Years Later

    Quote Originally Posted by Perry View Post
    From 24 August 2013.

    Red type is my emphasis.
    Exnzpat had "hard evidence."

    Anyone seen it?

    Original post here.

    Quote Originally Posted by exnzpat View Post
    Of course, you know "economic disaster ahead" has been my mantra all along. And slowly the pundits are catching up with me, citing things like income to home price parity, rising NZ dollar or any of the host of other things Iíve suggested here on this board over the years. But no one listens. They hear only what they want to hear--and that's fine. I've come to grips with it.

    Finally, Iíve got hard evidence the fact. And so, despite what you may think, here it comesÖ. So hold on to your hats. The money train is about to grind to a lumbering halt in New Zealand (something it should have done in 2008 or 2009, in my opinion), so itís long overdue.

    I expect a mass exodus of the population to find work. I expect to see mass default on mortgages and a crash in the New Zealand dollar. Also, I expect interest rates fall (which will be good for those of us who have hung-in there all this time). Dogs will bark in empty streets and babies will cry. Tumbleweeds will tumble, testament to the terrible times ahead...
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  6. #5266
    Join Date
    Sep 2008
    Posts
    7,575

    Default

    "The US economy seems to be transitioning into a stagnation phase after a brief period of goldilocks on a sugar high of fiscal stimulus.

    We advise investors to prepare for recession,"
    it said.

    Wall Street stocks and global bourses may keep climbing for a few more months before peaking in July.

    ...

    It would also be a shattering blow to the eurozone, where Italy is already in recession

    and Germany has stalled.

    The European Central Bank's key interest rate is minus 0.4pc.

    https://www.nzherald.co.nz/business/...ectid=12217765
    Last edited by eri; 30-03-2019 at 07:20 PM.
    have you defeated them?
    your demons

  7. #5267
    Join Date
    Apr 2009
    Posts
    979

    Default

    Quote Originally Posted by eri View Post
    "
    It would also be a shattering blow to the eurozone, where Italy is already in recession

    and Germany has stalled.

    The European Central Bank's key interest rate is minus 0.4pc.

    https://www.nzherald.co.nz/business/...ectid=12217765
    I'm seriously considering Italy real estate, pennys for the dollar.

  8. #5268

    Default

    Quote Originally Posted by DaveW View Post
    I'm seriously considering Italy real estate, pennys for the dollar.
    ill be there in Jul-Aug for a month or so if you need any inspections done before you purchase

  9. #5269
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,325

    Default

    Quote Originally Posted by DaveW View Post
    I'm seriously considering Italy real estate, pennys for the dollar.
    Can you share any links of what you think is cheap?
    Squadly dinky do!

  10. #5270
    Join Date
    Sep 2008
    Posts
    7,575

    Default

    how about a spanish village for $140k?

    https://www.stuff.co.nz/world/europe...-sale-in-spain
    have you defeated them?
    your demons


 

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