Covid-19 Economic & General Effects for PIs & PMs

[Chris W]

OneRoof is ground zero for property propaganda aye?

Davo36,


OneRoof is a property listing website, with a vested financial interest in promoting property. Can't really expect any independent advice on property on there.

From the OneRoof website.

OneRoof is the new home of Real Estate, with thousands of listings, latest property news and market insights to help make your property decisions easier. Local schools, crime stats, commute times, property values, market trends, mortgage calculators … You’ll find it all - and more - under OneRoof.

[Chris W]

The following message is brought to you by OneRoof ...

Eight factors that will protect NZ from worst of recession

Tony Alexander

https://www.oneroof.co.nz/news/37708

[Don't believe the Hype]

can you post the links you're referring to?

or are you just trolling?

[jack2016]

sorry i deleted my post as i can't find the links to back it up

[PC]

A fiasco in the making? As the coronavirus pandemic takes hold, we are making decisions without reliable data

The current coronavirus disease, Covid-19, has been called a once-in-a-century pandemic. But it may also be a once-in-a-century evidence fiasco.

https://www.statnews.com/2020/03/17/a-fiasco-in-the-making-as-the-coronavirus-pandemic-takes-hold-we-are-making-decisions-without-reliable-data/

Seems like an irrational over reaction to the Wuhoo flu.
Any excuse to grab power and curtail freedom.

[donna]

The Gov'ts reactions are unprecedented so it's hard not to believe the worst and that tens of millions could die from it if it's allowed to infect hundreds of millions of people simultaneously.

cheers,

Donna

[Frezzinghot]

Hi Guys,

Just wanted to know you guys thoughts on this. Currently the way the Virus in spreading all around the Globe and few banks (ASB) predicting Recession on cards. Just wondering, if its right time buy a house in Auckland?

Are you guys in the same category as me or investing ? will there be fall in the prices if we wait for couple of months ? I would like to your thoughts on this.

Thanks, Much appreciated

Its inevitable that this is going to have an impact, how long and and low prices will go for is anyones guess, just make sure you can afford what ever it is you buy. A downturn is imminent!!!

[Anthonyacat]

I don't know whether prices will drop, or sales will just stall. Urgent sales will probably get a much lower price than they want. Certainly some bargains to be had. But I reckon everyone else will just wait for things to blow over rather than dropping their price expectations much. Just my baseless prediction.

[absoluteproperty]

Hi Guys,

Just wanted to know you guys thoughts on this. Currently the way the Virus in spreading all around the Globe and few banks (ASB) predicting Recession on cards. Just wondering, if its right time buy a house in Auckland?

Are you guys in the same category as me or investing ? will there be fall in the prices if we wait for couple of months ? I would like to your thoughts on this.

Thanks, Much appreciated

Rather than all out selling, we are refinancing to free up capital in anticipation of any opportunities which may come up.

Even when this Covid 19 issue is under control, it is election year. If Labour remain in government (I have my own muted opinion on that, depending on leadership decisions that the National Party make) then it will not be seen as positive by property investors. There have been articles in the newspapers lately suggesting landlords should be considering rent relief to assist in this crisis and pass on any margin they receive from interest rate cuts, laughable as many landlords are now scraping through worse than their tenants and many have or are selling up.

I think it is a great time to buy, but not right away. I do not know what the signal is that it is the right time to buy, but I know it isn't now.

[richard56]

The following message is brought to you by OneRoof ...

Eight factors that will protect NZ from worst of recession

Tony Alexander

https://www.oneroof.co.nz/news/37708

Hi
Dose anyone know if Tony is still doing his "reports" on the economy?
I enjoyed reading his stuff.
Thanks
Richard

[Don't believe the Hype]

Tony pulled the pin on his weekly updates a few yrs back . He now only does occasional updates.

But from what I read from him yesterday in the paper I think he's gone mad.

[Don't believe the Hype]

Is now a good time to buy? The answer is ... it depends.

What is your risk tolerance?
What is your cash flow situation?
What is your exposure to losing your job?

[hawkeye]

Personally I think wait because job losses could lead to a lot of mortgagee sales and prices plummeting.

[donna]

10 per cent drop in property values predicted by Economists

A right proper correction is on its way for NZ property market and elsewhere around the globe.

Could be just 3.5 percent or as high as 10 per cent. Who does this favour? Investors cash up - for sure. First home buyers - if they're cashed up but if they're relying on their Kiwisaver - that's nose diving with market activity so there's less to draw on. Will Labour throw them a lifeline?

source

Early election I reckon and the property developers who can hang in there will do well once we're back in recovery.

cheers,

Donna

[Keys]

My super has dropped over 20% in less than three weeks. Wiped out a whole years worth of gains in 21 days. Thinking of changing from balanced to aggressive soon.