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  1. #271
    Join Date
    Jan 2004
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    Whangarei
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    5,867

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    Quote Originally Posted by Asterix View Post
    Stay with it Lissica. Drelly loves to shoot people down after watching an argument unfold, bordering on spiteful Drelly.
    Eh? Alternatively... listening to both sides before expressing an opinion.


    Lissica ... I do see what you're saying but don't you think Ron would be foolish to make specific predictions? They are more likely to be wrong than right.

  2. #272

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    Well, if you believe that a 500k home is going to be 2 million in 16 years time; then you seem to be predicting a boom in incomes.

  3. #273
    Join Date
    Jan 2004
    Location
    Whangarei
    Posts
    5,867

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    Quote Originally Posted by speights boy View Post
    Well, if you believe that a 500k home is going to be 2 million in 16 years time; then you seem to be predicting a boom in incomes.
    Or a reduction in waistlines!

    Many people go on about how we used to only pay 3x annual income for a house and it needs to go back to that. Well... different times, different priorities. However, if we're currently sitting at 6-7x annual income, I can't see there being a lot of room for house price growth from extra debt servicing without growth in incomes. It might come from rampant inflation... lots of people have been expecting that for a while.

  4. #274
    Join Date
    Aug 2007
    Location
    Wellington, NZ/ NSW, Australia
    Posts
    169

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    Quote Originally Posted by drelly View Post
    Eh? Alternatively... listening to both sides before expressing an opinion.


    Lissica ... I do see what you're saying but don't you think Ron would be foolish to make specific predictions? They are more likely to be wrong than right.
    He's already made one....that there will be a 'boom of all booms'. Surely he has some idea what it means to him, because it probably means something different to you or me.

    That's why I wanted clarity.

    Not asking for a specific number, just a minimum condition for something to be a 'boom of all booms', in the opinion of the poster who made that prediction. I hope he's right and I hope he sets high benchmarks for a boom, because if we weren't property investors, we wouldn't be here.

  5. #275

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    Quote Originally Posted by Lissica View Post
    He's already made one....that there will be a 'boom of all booms'. Surely he has some idea what it means to him, because it probably means something different to you or me.
    Well Lissica, he thinks a 500k property being worth 2 million in 16 years time is just history repeating itself.

    Factor in 'the boom of all booms' and the answer is clear.



    This equals 18,446,744,073,709,551,615 (18.4 quintillion).


    That reminds me.

    George Bush was receiving his daily report from his Defence Secretary, Donald Rumsfeld.

    During the report, he said; "And yesterday, three Brazilian soldiers were killed in Iraq." George suddenly went pale, put his head in his hands and began to sweat profusely.

    His staff were astounded. They had never seen him react like this to this little. After he had recovered slightly, he brought his head up and asked; Just how many is a bazillion?
    Last edited by speights boy; 30-01-2012 at 09:28 PM. Reason: that reminds me

  6. #276
    Join Date
    Oct 2006
    Location
    Auckland
    Posts
    570

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    I note that in the herald for the past 2 days, negative comments around rent rises and the desperation tenants have in finding good properties to rent, (especially in central auckland) commentators have
    sited various reasons from falling building consent numbers to rising rates/insurance and loss of depreciation. I have noticed the change in rents, but think to maximise your income you need to present
    your properties well and stand out from the rest.

    It really could not be a better time for investors, low interest rates, high tenant demand, & low building consents all looking to push up rents and equity.

    Could this be the start of the "Boom of all booms"

    FH

  7. #277
    Join Date
    Sep 2008
    Posts
    7,658

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    i've got a millionaire? friend

    who used to rent in santa monica, california

    he really wanted to buy there

    but couldn't afford it

    people moan about not being able to rent $1,000,000 homes in mount eden, ponsonby, parnell etc for $550pw

    test out you math on the investment return there
    have you defeated them?
    your demons

  8. #278
    Join Date
    Feb 2005
    Location
    Auckland
    Posts
    795

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    Quote Originally Posted by eri View Post
    i've got a millionaire? friend

    who used to rent in santa monica, california

    he really wanted to buy there

    but couldn't afford it

    people moan about not being able to rent $1,000,000 homes in mount eden, ponsonby, parnell etc for $550pw

    test out you math on the investment return there
    Strong capital growth areas have a tendency to give much lower yields, as does high cash flow areas like Sth Auckland give higher yields but low capital growth.

    Looks like the tip of a coming rent boom which will precedes a property boom.

    Ron Hoy Fong
    RonovationZ

  9. #279
    Join Date
    Sep 2008
    Posts
    7,658

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    and Ron

    when all those retiring baby boomers

    cash in their chips and move on

    in 50 years time

    there just may be

    insufficient cashed up x-gen'ers and immigrants

    to support exponential real estate values
    have you defeated them?
    your demons

  10. #280
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,457

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    Quote Originally Posted by spurner View Post
    Agree with this. Your business bank manager looks after fewer and higher value clients than those at the retail end, so are more likely to understand your situation and know about you.

    My manager recently told me "I'd rather loan money to you, even if it doesn't fit the guidelines; than I would loan it to someone else who might tick all the boxes, but I don't knowthem from a bar of soap".
    I find with my bank that the staff change around every 6 months. I had a go at the new guy recently telling him I may as well not bother getting to know him because he'll be moving on shortly! I got the usual "I've been in this area for ten years..." talk, but I bet he'll be moving on shortly.

    So I find it very hard to build a relationship with the bank. They even disestablish whole departments/business areas and replace them with some new department that is supposed to be the be all and end all. And tell you how important you are blah blah blah...
    Squadly dinky do!


 

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