Buy or bye!

[Davo36]

Didn't the guy behind Du Val go broke in the GFC... an all in ego driven guy who plays big and takes risks with someone else's funds??

Oh you doom and gloomer. /sarc off.

I'll just leave this here: https://www.kenyonclarke.com/

[propertybuyingNZ]

Thanks Nick, always enjoy your posts!

I was wondering, in about 5 months, from top of my head 20k mortgage holidays will expire, now, some of those folks will be in trouble financially, and if you have no income, then you can not get a new mortgage, does not matter how low the rates are.

Generally, NZ property market is tiny, right now there are 500 properties for sale in Wellington, what is really nothing, lets say just a 100 ppl from that 20k is forced to sell their houses to cover mortgage, that would be 20% of the total house stock comes on the market for discount. Well, of course Steve and you guys (or us) potentially could snap them up, but we would also push the prices down, and that would have some effect.

of course it is just speculation, but could very likely happen.

from the other hand, I can imagine that the end of 2021 will produce good capital growth, generally more bullish on property for long term, that is for sure.

[Frezzinghot]

Thanks Nick, always enjoy your posts!

I was wondering, in about 5 months, from top of my head 20k mortgage holidays will expire, now, some of those folks will be in trouble financially, and if you have no income, then you can not get a new mortgage, does not matter how low the rates are.

Generally, NZ property market is tiny, right now there are 500 properties for sale in Wellington, what is really nothing, lets say just a 100 ppl from that 20k is forced to sell their houses to cover mortgage, that would be 20% of the total house stock comes on the market for discount. Well, of course Steve and you guys (or us) potentially could snap them up, but we would also push the prices down, and that would have some effect.

of course it is just speculation, but could very likely happen.

from the other hand, I can imagine that the end of 2021 will produce good capital growth, generally more bullish on property for long term, that is for sure.

And this is what I am thinking as well, no job, no mortgage. Its really that simple. The other thing to consider will be confidence, the media are drumming up all sorts of mixed messages atm and their is raft of so called economists saying all sorts of things, confusion reigns so all I can deduct from all of this is that I have no clue what is going to happen. So in light of all this I am actively trying to buy something now if the numbers stack up, although I know lending is tight atm and a lot of deals are falling over because of finance. Just happened to me this week, couldn't quite get enough of the loan that I needed. Interesting times indeed.

[Don't believe the Hype]

Oh you doom and gloomer. /sarc off.

I'll just leave this here: https://www.kenyonclarke.com/

Sorry for that dose of reality... in essence behind all the glossy photos and symbolism of success is a whole lot of risk... at least the risk is being rewarded with a return far beyond the risk free rate of return.

The glossy brochures help take peoples mind off the risk as they kiss their cash goodbye


As Nick said if it fails they can always head to Fiji and blame forces outside my control. With that in mind I'm predicting a boom in property in Fiji!!

[Davo36]

Sorry for that dose of reality... in essence behind all the glossy photos and symbolism of success is a whole lot of risk... at least the risk is being rewarded with a return far beyond the risk free rate of return.

The glossy brochures help take peoples mind off the risk as they kiss their cash goodbye


As Nick said if it fails they can always head to Fiji and blame forces outside my control. With that in mind I'm predicting a boom in property in Fiji!!

Must be about time for another coup...

[Bluecoat]

Sorry for that dose of reality... in essence behind all the glossy photos and symbolism of success is a whole lot of risk... at least the risk is being rewarded with a return far beyond the risk free rate of return.

The glossy brochures help take peoples mind off the risk as they kiss their cash goodbye


As Nick said if it fails they can always head to Fiji and blame forces outside my control. With that in mind I'm predicting a boom in property in Fiji!!

Just like Letfus ? .. went to Fiji and he is back in action in NZ..

[Davo36]

Just like Letfus ? .. went to Fiji and he is back in action in NZ..

Yeah he's a good guy man, and has Jesus on his side too! What could possibly go wrong?