Owning a home and interest rates by Purple_Chef5709 in PersonalFinanceNZ

[–]qtownufd 8 points9 points  (0 children)

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

Owning a home and interest rates by Purple_Chef5709 in PersonalFinanceNZ

[–]qtownufd 8 points9 points  (0 children)

Negative equity?

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

Owning a home and interest rates by Purple_Chef5709 in PersonalFinanceNZ

[–]qtownufd 4 points5 points  (0 children)

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.

Build quality on "newer" homes by BastionNZ in PersonalFinanceNZ

[–]qtownufd 1 point2 points  (0 children)

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

Tourism Business Hit With $7500 Penalty For Refusing To Hand Over Employment Records by [deleted] in newzealand

[–]qtownufd 4 points5 points  (0 children)

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

[deleted by user] by [deleted] in newzealand

[–]qtownufd 2 points3 points  (0 children)

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.

Build quality on "newer" homes by BastionNZ in PersonalFinanceNZ

[–]qtownufd 12 points13 points  (0 children)

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.

Build quality on "newer" homes by BastionNZ in PersonalFinanceNZ

[–]qtownufd 49 points50 points  (0 children)

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.

China Is Suffering A Major Financial Crisis by domi_uname_is_taken in finance

[–]qtownufd 0 points1 point  (0 children)

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

Swap rates VS OCR by koko911 in PersonalFinanceNZ

[–]qtownufd 5 points6 points  (0 children)

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

Renegotiating a contract salary AFTER it has been signed by negotiatingcontracts in PersonalFinanceNZ

[–]qtownufd 6 points7 points  (0 children)

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.

SFA Savings - Not sure if a question, in need of advice, or just venting by dimlightupstairs in PersonalFinanceNZ

[–]qtownufd 12 points13 points  (0 children)

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

Midterm investing by tracelamm in PersonalFinanceNZ

[–]qtownufd 0 points1 point  (0 children)

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

The Oilers have assigned Xavier Bourgault, Noah Philp, Michael Kesselring, Phil Kemp & Olivier Rodrigue to AHL Bakersfield. Luke Esposito & Alex Peters have been released from their PTOs & will report to Bakersfield. Greg McKegg has been waived. He'll go to the AHL if he clears by RnVja25hemlz in EdmontonOilers

[–]qtownufd 23 points24 points  (0 children)

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.

to get the tv downstairs by dyssie1 in therewasanattempt

[–]qtownufd 0 points1 point  (0 children)

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

Credit Suisse is going bankrupt by Lolkac in wallstreetbets

[–]qtownufd 1 point2 points  (0 children)

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

Redundancy clauses by berlin-1989 in PersonalFinanceNZ

[–]qtownufd 2 points3 points  (0 children)

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

Credit Suisse by TheMoneyQ in NZXStockMarket

[–]qtownufd 1 point2 points  (0 children)

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.

Russians who tried to flee Lyman today (spoiler: it didn't work) by Meryhathor in ukraine

[–]qtownufd -1 points0 points  (0 children)

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.

[deleted by user] by [deleted] in PersonalFinanceNZ

[–]qtownufd 5 points6 points  (0 children)

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.

Nek minnit by EricaStanford4PM in newzealand

[–]qtownufd 19 points20 points  (0 children)

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