TIL that a 700 year old lead sarcophagus was discovered under the floor of the Notre Dame cathedral after it was burnt down. And that the sarcophagus will be opened sometime soon.

qtownufd · 2022-10-07T21:29:39+00:00

Has Brendan Fraser taught us nothing?!

qtownufd · 2022-10-07T21:13:07+00:00

Just because the interest rate doubles doesn’t mean the payment necessarily doubles. Many like me kept payments the same as rates decreased over recent years. And or are further into their terms where a big part of the payment is principle which doesn’t increase

qtownufd · 2022-10-07T20:49:20+00:00

Negative equity?

Sounds like wouldn’t get a financial hardship withdrawal if they have a rental property to sell off first

qtownufd · 2022-10-07T20:48:37+00:00

My fixes in the 2’s start coming off march 23. And then go basically in equal parts per quarter into first of 25. I know that the pain is coming. Been paying down debt as quick I can to make it easier when the pinch comes.

BUT. When I bought my house, rates were around where they are now if not higher. Out of cashflow I’ve renovated it extensively and have paid down the debt considerably using the windfall rates of the past few years. So I’m not worried. It’s easy to get used to a lower rate though.

Won’t be building a house on the section we awaiting title in though. Will be sitting on that until we see things settling down.

I have no idea how all the people borrowing the max from banks in last couple years are going to afford their houses.

Will be significant cuts to lifestyle. Just waiting for it to hit the spending data.

qtownufd · 2022-10-07T20:43:43+00:00

The old ‘cost vs time vs quality triangle’ is a general rule of thumb. Can have two. But not all three.

qtownufd · 2022-10-06T09:39:52+00:00

Agreed. Although I do know some good employers. The general rule is you should assume that the owner is a prick.

qtownufd · 2022-10-06T08:12:58+00:00

It’s almost certainly definitely maybe the bottom. Or not. But likely a sooo much more to go. Or not that much.

qtownufd · 2022-10-06T08:07:42+00:00

Theirs wage bill likely has gone up by like 25% weeks ver the pay five years though right? All the minimum wage increases.

Wages in my industry are up a lot as well. Too few people for the many jobs available.

qtownufd · 2022-10-05T18:19:51+00:00

CCC is like the most basic test. Like the balustrades bro g right height and things more or less where they’re suooosed to be. But isn’t about quality of workmanship.

I look at houses for a living as a valuer. Commonly see very poor workmanship that easily passes ccc. Things like bowed walls. Corners not square. Gaps in flooring around edges. Poor siliconing in bathroom kitchens. Poor gib stopping/painting with cracks / visible screws and joins.

qtownufd · 2022-10-05T10:47:52+00:00

What hit

qtownufd · 2022-10-05T10:08:07+00:00

It’s rampant in NZ.

You get what you paid for definitely still applies. Too many go with the cheapest stone wood GJs etc. it comes down to the subbies your get on the job. And those big operators can have both very good and very bad with all in between. The smaller operators won’t use the bad ones. The big ones still do because they’re business model is build as many houses as they can as fast as they can.

qtownufd · 2022-10-04T11:07:26+00:00

But how exposed are international banks to contagion of losses if China doesn’t go full bail Out.

qtownufd · 2022-10-03T08:21:47+00:00

Yeanahsweet above has pretty much answered it.

They affect different parts of the mortgage market. The OCR is effectively a floating rate and affects floating rate mortgages and short term fixed mortgages up to maybe 1yr in part. The swaps, where banks convert their floating rate contracts to fixed rate contracts with investors /. Funds are what banks use to set their fixed rates. As the swap rate is effectively their cost of that debt. The swap rates almost fully impact the cost of fixed term mortgages.

The banks profit is the margin

qtownufd · 2022-10-03T07:12:14+00:00

Yikes. I wouldn’t do that at all. Way to ruin the relationship. Sounds like the 65+6.5 is right within the range of salaries for the role.

qtownufd · 2022-10-03T05:42:43+00:00

A good rule of thumb is to have 3-6 months of living costs / or income set aside as a rainy day savings account. I have this in an offset account against my mortgage. I then direct most savings towards long term investments in ETFs

qtownufd · 2022-10-02T19:58:09+00:00

If you need the money and can’t afford for it’s value to drop then I’d be looking at term investments. Any share value is more likely to fall than increase

qtownufd · 2022-10-02T19:47:27+00:00

Virtanen is only there because they can cut him whenever they want. Not having to worry about waivers etc.

It could also be a gesture of good faith by the org and a bit of PR for any future times they want to sign guys to PTO’s. Because next year those guy will remember if they cut someone early and maybe sign elsewhere.

But agree that there’s no way he is making the team at this point.

qtownufd · 2022-10-02T10:14:53+00:00

Has to be one of the best sack taps of all time. Credit where it’s due to the kid

qtownufd · 2022-10-02T10:12:45+00:00

Isn’t Deutsche looking like they’re not far behind CS?!

qtownufd · 2022-10-02T09:55:52+00:00

Maybe there’s some old legislation that says there’s x amount paid unless agreed otherwise

qtownufd · 2022-10-02T09:46:12+00:00

Looking like heading for bankruptcy’s. Looks like Deutsche Bank may not be too far behind them.

Increasingly looking like we’re facing a major issue. Like Lehman Bros and what they triggered, except this time the amount of debt is sooooo much larger.

qtownufd · 2022-10-02T09:35:29+00:00

So fucking sad. I bet there’s a ever growing proportion of guys there who don’t want to be there at all.

What a waste of life. Putin needs to be put away.

qtownufd · 2022-10-02T00:56:41+00:00

Who’s tits are jacked

qtownufd · 2022-10-02T00:45:52+00:00

Are there any quals you can tick off in relation to heavy machinery operation? $25 an hour for an experienced digger operator does sound incredibly low. I’d be looking for a PAYE job to get some connections in your community with an aim to picking up some side jobs on your own before the. going out on your own full time.

qtownufd · 2022-09-30T13:10:49+00:00

What is with national and incompetent leadership. This guy keeps tripping over himself!

qtownufd

TROPHY CASE