$500,000 loan at 11.5% interest (as I paid in 2007) = $57,500 p.a. in interest.
$1,100,000 loan at 5% interest (which I now pay) = $55,000 p.a. in interest.
$500k in 2007 didn't get you much of an Auckland property.
$1.1m today gets you something a lot nicer.
No need to pay off any capital, inflation will pay that for you.
Just saying
All good until the house you paid 1.1mil for drops to 500k. Then you have a massive toxic debt crisis. And if the bank only has 5% of your money as a deposit it's cheaper to throw the keys at them and walk away.
All good until the house you paid 1.1mil for drops to 500k. Then you have a massive toxic debt crisis. And if the bank only has 5% of your money as a deposit it's cheaper to throw the keys at them and walk away.
i dont always define value, but when i do, i make sure i do it in an arbitrary unit controlled by the imf.
All good until the house you paid 1.1mil for drops to 500k. Then you have a massive toxic debt crisis. And if the bank only has 5% of your money as a deposit it's cheaper to throw the keys at them and walk away.
Of course you can throw the keys back at the lender, but it will have the same effect as shoving them up your own arse; because you still owe the money back that you borrowed
Of course you can throw the keys back at the lender, but it will have the same effect as shoving them up your own arse; because you still owe the money back that you borrowed
True but if you have put a 20-40% deposit down and you only manage to sell the house for half what it's worth your not so out of pocket or in such a bad situation. Better to hold on if you can make the payments - which are also a lot lower. Here they are now asking for 20-25% minimum deposit.
The underlying issue is that Kiwis have been taught, expensively, that the only investments that net a reliable return are major banks and property. Everything else is just a good way to be wiped out overnight, usually at the whim of Japanese housewives or a thieving finance director.
I'm sure you mean 90m2. 90sqft is a bathroom. The building course at Weltec is doing just that. They seem to be shipping dozens of them. Don't know where they go though.
I had high hopes of a P2P roll out, it should represent a good deal for borrowers and investors alike, given it removes a complete ticket-punching layer. But it's looking like just another bunch of snake oil purveyors.
Aye, 900sqft is what I meant. The average size of my parents generation's first home. They paid 4-5 yrs income for one, which is what they would cost today, if you were allowed to build one.
Go soothingly on the grease mud, as there lurks the skid demon
True but if you have put a 20-40% deposit down and you only manage to sell the house for half what it's worth your not so out of pocket or in such a bad situation. Better to hold on if you can make the payments - which are also a lot lower. Here they are now asking for 20-25% minimum deposit.
To put a whole lot of capital into propriety that didn't originally come from the propriety market right now eg kiwi saver or other savings would not be very nice to say good bye to, I know from 2008.
A lot of BS money/capital gains is about to be flushed down the shitter.
Anyway some cunt about BREXIT
simple question, why did the Soviets modify a air-raid shelter into a gas chamber? what was their intention?
Oh thanks Mashers for the great link. I just bought me a couple of Greek Islands and a 200 room hotel. The Greek government will pay to fill the hotel with Syrian refugees, so I guess I can now retire to my Island, without the hotel full of poor people
Oh thanks Mashers for the great link. I just bought me a couple of Greek Islands and a 200 room hotel. The Greek government will pay to fill the hotel with Syrian refugees, so I guess I can now retire to my Island, without the hotel full of poor people
From what I've read, you might be able to get some form of tax break. Did you just describe the prison system and actually buy a prison
From what I've read, you might be able to get some form of tax break. Did you just describe the prison system and actually buy a prison
CRIKEY MASHERS - WHAT A GREAT IDEA.
I'M GOING TO BUILD ME A HUGE EXTENSION TO THAT HOTEL ON MY ISLAND (WITH EU GRANTS) AND IMPRISON - OOPS I MEAN - PROVIDE VERY BASIC ACCOMODATION FOR THOUSANDS OF THE POOR UNFORTUNATE F#CKERS
I'M GOING TO BUILD ME A HUGE EXTENSION TO THAT HOTEL ON MY ISLAND (WITH EU GRANTS) AND IMPRISON - OOPS I MEAN - PROVIDE VERY BASIC ACCOMODATION FOR THOUSANDS OF THE POOR UNFORTUNATE F#CKERS
Originally Posted by YellowDog
Are houses really more expensive?
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I didn't think!!! I experimented!!!
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