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  1. #21
    Join Date
    Aug 2003
    Posts
    7,823

    Default

    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
    PropertyTalk Blog - property articles - About PropertyTalk

    BusinessBlogs - the best business articles are found here



  2. #22

    Default

    Quote Originally Posted by Dinram7 View Post
    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!!!
    "Remember, people will judge you by your actions,not your intentions.You may have a heart of gold -but so does a hard-boiled egg".

  3. #23
    Join Date
    Oct 2013
    Posts
    1,702

    Default

    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.
    CLIENT LIST FULL - Waitlist Available: [email protected]
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  4. #24

    Default

    Quote Originally Posted by Dinram7 View Post
    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.

  5. #25
    Join Date
    Feb 2010
    Posts
    318

    Default

    Quote Originally Posted by Chris W View Post
    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

  6. #26

    Default

    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.

  7. #27

    Default

    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?

  8. #28
    Join Date
    May 2004
    Location
    Christchurch
    Posts
    589

    Default

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

  9. #29
    Join Date
    Aug 2003
    Posts
    7,823

    Default 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
    PropertyTalk Blog - property articles - About PropertyTalk

    BusinessBlogs - the best business articles are found here



  10. #30
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    5,878

    Default

    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.


 

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