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Originally posted by Jeffa View PostI predict if you have 1m in debt..and interest rates come down 1%,you will be 10k better of...
Say you work in a Tourism related job.
So you get 10k but you loose your job.
That job paid 60K.
So are you 50k worse off?
What I'm getting at, is are you considering the big picture?
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Originally posted by McDuck View PostIs that true?
Say you work in a Tourism related job.
So you get 10k but you loose your job.
That job paid 60K.
So are you 50k worse off?
What I'm getting at, is are you considering the big picture?
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Originally posted by Jeffa View PostIf you have been following my predictions,what I have been reiterating..the rich will get richer the poor will get poorer there is a massive wealth transfer coming..if you find my comments offensive..please follow mainstream media.
I'm more open minded than most.
If you said you had a unicorn and fairies in your back garden, I'd give you the benefit of the doubt.
But still ask if I could come round with a camera.
Can you show some numbers, just roughly.
I just want to make sure you're counting everything.
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Originally posted by McDuck View PostHa.
I'm more open minded than most.
If you said you had a unicorn and fairies in your back garden, I'd give you the benefit of the doubt.
But still ask if I could come round with a camera.
Can you show some numbers, just roughly.
I just want to make sure you're counting everything.
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Keys - what is your plan of attack when people stop paying rent?
If people get made redundant and or have to isolate or care for sick people they'll get $580/wk(min) from the govt - there is a real risk that after food and medical supplies there won't be much left for rent.
While I feel for people in this situation if the bank doesn't get paid their home ends up being under a bridge.
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Originally posted by Don't believe the Hype View PostKeys - what is your plan of attack when people stop paying rent?
If people get made redundant and or have to isolate or care for sick people they'll get $580/wk(min) from the govt - there is a real risk that after food and medical supplies there won't be much left for rent.
While I feel for people in this situation if the bank doesn't get paid their home ends up being under a bridge.
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Originally posted by Jeffa View PostI always believed America wanted a war with North Korea, as war is always good for the US economy but that fizzled out..and War against China is as good as a war against Russia which is a war neither side wins..thats why my theory has been this virus is man made..less lives will be lost and just as much spending, as what a war will cost...unfortunately if people don't get spending around the world it can lead to war ...but I don't really study that side of the economy .
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Originally posted by Jeffa View PostFirst thing stop panicking and don't put your house on the market talk too your lender!..most banks give up to 3 months deferred payments..what's your lvr?can you top up to cover payments for months or years?at Interest only..can you move your own home to interest only or deferred payments?...there are options the banks don't want homes going under but it may be the case in tourist towns,talk with your tenants, lower the rent and help them out ,live to your highest values..Investers will be circling if they smell fear...
Not panicking - but planning. We spend a lot of time planning and are pretty well protected. All I'm doing now is planning for worst case so in the event things go really bad I don't need to panic because I have a plan.
LVR is low (for now)
Rent exceeds costs by a very good buffer
Multiple rental incomes vs. one or two high value places with high rents
Potential to reduce costs in the next 3-6 months as rates come off fixed
My position is sound but you're right about keeping communication open with tenants and banks. Fear could cause contagion (as we're seeing in the stock markets) but if we all hold our nerve and plan well we'll get through this.
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If you're LVR is low set up another credit line asap, the banks are going to get busy when QE starts and they start printing money,...Im predicting there's going to be a shortage of finance approval staff at the banks so there will be work there if anyone wants to work in satan's den....
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Originally posted by Jeffa View PostWealth in poverty during NZ great recession
"Despite widespread hardship, a small portion of the population remained wealthy – and some even benefited from reduced prices. They still bought luxury goods and continued their high-society traditions.
Some of the better-off tried to help the poor. They collected money, food, and clothes, organised fundraising events, and offered odd jobs."
For the record I'm a capitalist..but I always believe in living to your highest values...Jeffa.
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Originally posted by Jeffa View PostWinston wants 80 thousand kiwis to come home before lockdown...I thought he wanted to cut immigration?...Is he expecting capitalism to save his socialist a@$.
https://www.nzherald.co.nz/nz/news/a...ectid=12317822
Also, not before lockdown (hard to stop people coming home really) but before there is no way to get home. If no one is travelling flights end up cut to very close to 0.
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