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Poll: Is your debt more than 5 times your income?

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  1. #11
    Join Date
    Jun 2004
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    9,011

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    Quote Originally Posted by cube View Post
    Unintended consequence - rents rise to 20% yield?
    Only if you can get the money out of the people - they can't afford it so you can't.
    They'll live in their cars and get in the newspaper instead.

  2. #12
    Join Date
    Aug 2003
    Posts
    7,049

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    So 2nd tier lenders will be in high demand. I wonder if there will be a dumping of properties later this year - before an expected announcement on the income to debt ratio fixing?

    cheers,

    donna

  3. #13
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    12,414

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    Has anyone seen the counter-point ever mentioned? As in - this is symptom chasing - not cause fixing. And scapegoat creating, too.

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  4. #14
    Join Date
    Jun 2004
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    9,011

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    Quote Originally Posted by Perry View Post
    Has anyone seen the counter-point ever mentioned? As in - this is symptom chasing - not cause fixing. And scapegoat creating, too.
    Would you expect to see any rational debate on this - not very polulist really?

  5. #15
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    12,414

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    Not from the woodenheads and their sycophants, but perhaps there's an off chance that there's a few folk who might get some media exposure who just may raise some valid counter-points?

    But your implication is right - silly me.

    Try Radenbrea Studios for hand-made designer jewellery. Especially if you're looking for a great gift idea for your lady love.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  6. #16
    Join Date
    Sep 2013
    Location
    Auckland
    Posts
    3,889

  7. #17
    Join Date
    Aug 2003
    Posts
    7,049

  8. #18
    Join Date
    Feb 2004
    Location
    Wellington
    Posts
    150

    Default

    It won't just affect new acquisitions. Wait until you try to refinance. It will be a NO.

    I suggest you email Bill English or your local MP and protest. If no noise it will become reality. May be only months away.

  9. #19
    Join Date
    Aug 2003
    Posts
    7,049

    Default

    A double whammy for Investors with higher LVR restrictions rumoured. It's 30% in AKL - my guess is this will increase to 40 or 50% and the regions will move up to 30%. A change in LVR requirements is said to come first then the debt to income ratio. Hard to believe this is going to end well.

    The Banks want to continue to lend so they earn $$ - if there's a max ratio on DSR that's going to affect FHB (unless they're exempt).

    So Investors not able to refinance dump properties onto the market - kicking out tenants many of whom will still not qualify to be home buyers. This would be nasty at best - less rentals - more competition, higher rents = poorer standard of living etc.

    cheers,

    donna

  10. #20
    Join Date
    Jul 2006
    Location
    North Shore
    Posts
    301

    Default

    Quote Originally Posted by foss View Post
    It won't just affect new acquisitions. Wait until you try to refinance. It will be a NO.
    When you say "refinance", do you mean switch banks, or re-fix the loans with the existing banks.


 

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