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View Full Version : So you think the NZ housing market sucks!


dawnrazor
2nd November 2006, 08:17
The Abbey National Building Society in the UK has just announced it will give punters up to 5 times there salary as a mortgage, in order to get them on the property ladder. You must however have 25% deposit and have a salary over $60,000. That said a 1% interest rise could make life interesting!!!

By comparision, lenders here reckon that 15% of mortgages granted in the last year have been 100% mortgages!!!!


You;d never guess I'm trying to buy a house LOL
Drum
2nd November 2006, 08:26
What will really make you cry is if you see the interest rates that banks charge in the USA. They have recently gone up to around 3 to 4%, and have been as low as 1.5 to 2% in the recent past!

Makes our mortgages look pretty expensive.

Good luck with the house buying by the way.
scracha
2nd November 2006, 08:50
[impending Japanese style property bubble burst]There's NO WAY I would buy a house in NZ at the moment. [/impending Japanese style property]. Don't listen to all those middle aged fucktards who bought their house back in 19canteen for thruppence and are now millionaires. Actually, listen to these middle aged fucktards, they paid about 2.75x their salary to buy their house and that's how the long term trend has been for decades.
ManDownUnder
2nd November 2006, 08:55
You;d never guess I'm trying to buy a house LOL

First house? Check this (http://www.kiwibiker.co.nz/forums/showthread.php?t=13994) is out if so (or even if not...).

I'm not an expert but happy to share what I do know... The whole thread is good, debate about the various aspects of $$ and how to make best use of yours.

Bugger the banks is rapidly becoming my motto
Blackbird
2nd November 2006, 09:33
[impending Japanese style property bubble burst]There's NO WAY I would buy a house in NZ at the moment. [/impending Japanese style property]. Don't listen to all those middle aged fucktards who bought their house back in 19canteen for thruppence and are now millionaires. Actually, listen to these middle aged fucktards, they paid about 2.75x their salary to buy their house and that's how the long term trend has been for decades.

Guess you're talking about quite a few of us then
Lou Girardin
2nd November 2006, 20:08
Speaking as a home owner, I think the NZ market is just dandy.