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And how many will be able to afford to pay the rent?
Who really knows? Do we just sit on our hands then, (will there be no market for renters?) even people losing their home need somewhere live. But id say places like Tokoroa & Kawerau will definitely be out. (and maybe even Queenstown for the foreseeable future)
I think the real question we should ask ourselves is, is this deal the best deal for this time, what is the upside, evaluate the risks, living in fear is easy to do and there is enough negativity out there without creating more in your head. Im going to fight the fear do it anyway. I do know one thing, most of the opportunities are around the corner having been through the GFC, I may as well go along with it.
Media & government are more concerned with using fear to elevate panic levels for this virus which is mainly just another version of the flu. MADNESS.
Indeed madness if you look at the stats of fly seasons in previous 10 years. That the figures differ between regions and countries are because of characteristics such as geographical, seasonal (winter north/summer south parts of the globe) features and population numbers, age structure, medical care, etc
The Corona viruse is known since 2011 and mutates as all flu viruses do in every season. So a vaccine needs to be applied every year new – a blessing for the pharmaceutical industry running steps behind every season.
Indeed madness if you look at the stats of fly seasons in previous 10 years. That the figures differ between regions and countries are because of characteristics such as geographical, seasonal (winter north/summer south parts of the globe) features and population numbers, age structure, medical care, etc
The Corona viruse is known since 2011 and mutates as all flu viruses do in every season. So a vaccine needs to be applied every year new – a blessing for the pharmaceutical industry running steps behind every season.
If you still think this is the flu, you are not paying attention
Seek harder
He also said investing in residential property was a “stupid thing to do”. “I’d rather be flogged, 30 lashes every hour than having to own a residential property.”
We're in a bubble right now and Labour will ride it out for as long as they can. Meanwhile property is being sold for silly money. Plus boats too - it seems we love our boats and luxury boats are selling at unprecedented levels.
A very astute investor . I saw a post in the FB chat group, all these idiots slandering him, that he shouldn't take advantage ,.. bunch of hypocrites.
Everyone is hoping for a crash ...sigh.. for the prices are sky high but , interest rates so low that it doesn't matter in the grand scheme of things... for now...
FH< I remember now . what are the figures like , did you get a bargain!.
5% yield. In Auckland. Was a solid brick & tile home with a cosmetic reno. Brought 80k under CV before it went really crazy about 3 months ago.
Pretty happy with that as I can recycle a my deposit in 6months to buy another. Challenge will be if I can do it in Auckland but probably further south.
... Challenge will be if I can do it in Auckland but probably further south.
Yup, and that's the problem.
The huge wallop of cash (debt), that the Reserve bank just dumped into the system, will affect prices, in remote places, in this way.
I bet their models don't even come close to capturing that.
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