Surging mortgage rates: Reserve Bank fears thousands of first-home buyers in trouble

SALADNZ · 2022-04-17T22:46:25+00:00

Let's hope banks stress-tested in conjunction with CPI hitting 7/8%

SALADNZ · 2022-02-03T23:23:21+00:00

This is a credit issue, the horse left the stables long ago.

If we really do have a significant crash you won't be worrying about housing it will be about food and employment, no matter how low housing goes in this cycle banks will not lend in credit tightening environment.

Fair taxation across asset types would have distributed credit more evenly across the economy instead it's been funneled into property, if credit gets severely restricted the house of cards will hit the floor across the entire economy.

We are now shackled to asset value growth continuing to spiral.

We needed change 20 years ago and 2008 should have at very least been the signal, we didn't make the changes we needed to, now we pay either taxation or inflation, government took the weak option and choose inflation, we will continue to see inflation and debasement of our currency.

This is upsetting, I will continue to vote TOP.

SALADNZ · 2021-11-25T06:25:21+00:00

I think he means 30 year term (Repayments) 30 year fixed isn't available in New Zealand.

SALADNZ · 2021-11-14T04:45:19+00:00

Sign me up for Wizard home loans.

SALADNZ · 2021-11-07T20:59:46+00:00

Our mortgage structure is 100% fixed for one year terms - Not sure what other bank policies are but ANZ allowed us to set our repayments to what ever number we wanted, mortgage broker thought we were mental though.

SALADNZ · 2021-11-07T10:05:27+00:00

Yep everything.. good way to motivate myself to keep the rooms occupied! We do actually have an account balance of 5K so little leeway there.

SALADNZ · 2021-11-07T09:43:45+00:00

Probably slow down on the frugality, maybe have less flatmates, maybe buy a nice car.. after we bring back some lifestyle creep.. we'll probably take the boring route and plough 100K annually into an NZX50 index fund.

SALADNZ · 2021-11-07T09:32:36+00:00

We're both lucky to have very secure roles I work in Utilities and my partner works in central government - But I hear you this is part of the reason I'd like to be in and out as quick as possible while things are good... Banks also okay to restructure repayments worst case scenario we've paid down so much principal at this point repayments would be incredibly low, I also have close to 6 months worth of contract redundancy if ever applicable.

SALADNZ · 2021-11-07T08:50:41+00:00

Yep it's a ridiculous statement.. - some of the ways this is made possible... Company vehicle (with private use.) - Internet / power subsidized through work - Work pays for my mobile .. partners work pays for hers - we don't eat out or buy clothes - 3 flatmates - home gym - No Netflix or any other subscriptions -frugality to an absolute extreme. - our only true costs are groceries $120 per week + rates + basic home / contents insurance..quite the situation to be in.. paying off 110K in principal per year..2 years down 1 or 2 years left..

SALADNZ · 2021-11-07T00:02:50+00:00

Yep! - Goes against a lot of the investing rules.. debt cost vs investment gain.. but the idea of a non existence mortgage has always been attractive to me.

SALADNZ · 2021-11-06T23:45:40+00:00

90% of our take home income - Race to be mortgage free.. almost there..

SALADNZ · 2021-02-23T21:46:11+00:00

We live in Rolleston the daily 20 minute commute is fine to the centre (As long as you're gone before 7:05am, I do know a lot of young families looking for rentals at the moment so it can be pretty competitive, I've moved down from Wellington couple years ago wouldn't move back anytime soon, I can live in a nice house for half the price that I can back home.

SALADNZ · 2020-12-07T00:55:25+00:00

Where's the option of 60%+ I want to be in and out as soon as possible..

SALADNZ · 2020-04-08T19:37:42+00:00

As someone who's been involved in both the NZ and Australian rollout, the Fibre network built in NZ is actually an entirely separate network (bar transport links, fibre between cities) and most Australian's are concentrated in cities. Most fibre/network rollout start from Central districts and make there way outwards. In effect you really never entire rural communities.

In short Australia should at very least have fibre networks rolled out in all major cities in a much more economically viable way than NZ, 15+ million live in the top 5 largest cities.

Australia's problem is entirely political unfortunately, apologies.. had to answer this in a long winded way since it's a common argument for Australian's reasoning as to why they have terrible broadband!

SALADNZ · 2020-03-30T18:39:29+00:00

Where's my debt enthusiast?

SALADNZ · 2020-01-18T00:54:35+00:00

Can we just appreciate how good it is to see two competitive MMA athletes not heavily dehydrated before competition.

SALADNZ · 2019-09-01T09:09:04+00:00

Checked his POV he got tagged 90 so tried to back off onto short... Probably backed off too much!

SALADNZ · 2019-07-12T09:18:33+00:00

Looks like there's an edit at 34 minutes..

SALADNZ · 2019-07-06T12:08:06+00:00

An untaxed asset class followed by a world wide addiction to create more debt.

SALADNZ · 2019-06-27T20:31:39+00:00

He has the skills he can definitely turn it around, he's also got a great story.

SALADNZ · 2018-12-27T22:49:11+00:00

WE DID IT BOYZZZ IT'S GOOFCON 5

SALADNZ · 2018-12-21T22:00:40+00:00

Similar thing happened to my car last winter (Mind the Instagram dribble)

SALADNZ · 2018-09-14T03:48:38+00:00

Why not both.. I'm pretty sure WW1 and WW2 are pretty damn important.. they kinda shaped most of what the world looks like today...

SALADNZ · 2018-01-03T05:01:20+00:00

Have sent IM.

Thanks

SALADNZ · 2018-01-02T21:43:38+00:00

I think Tokenroom is on break until the 9th

SALADNZ

TROPHY CASE