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Thread: Where were you in 1989?

  1. #46
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    Quote Originally Posted by Dean View Post
    The banks now generally require 20% deposit whereas it was only 10% in 1989.
    You should do some research on this. Certainly wasn't my experience. And while you are there, have a look and see what the interest rates were.
    Only a Rat can win a Rat Race!

  2. #47
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    Quote Originally Posted by Dean View Post
    Firstly let’s talk deposits.
    Quote Originally Posted by Dean View Post
    I need to make a deposit of $240,000
    Quote Originally Posted by Dean View Post
    acknowledged that the Millennial generation face greater challenges.
    Quote Originally Posted by Dean View Post
    I am in the market for around 1-1.2million
    So, according to RealEstate NZ - in Christchurch, there's ~1,300 homes listed.

    If I set a Max price of $900K, there's ~1,100 homes listed.

    My entire point has been about Choices and Consequences.

    You are looking at the cost of a First Home that is more expensive than 85% of the houses on the market. You are complaining about the size of the Deposit and various factors, when you, yourself and your choices, are the biggest factor, by far.

    Now, if you want a really nice first house, more power to you, may fortune and hard work reward thee.

    But don't you dare try and play the 'Poor Me, Woe is me, We Millenials have it so much worse' card when it is entirely self-inflicted.
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  3. #48
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    My reading of it is that a lot of millennials haven't got the balls to commit. if you don't buy something - anything - to get on the property ladder, you'll never work your way up to a nice place.

    We went through five properties before our current one. Start small, add value and work up. But it requires commitment - and sacrifice. No toys. No overseas trips.

    Sold our first place at a market peak. Rented for 18 months - saving like fuck - and bought at the bottom of the next trough.

    To put it in a motorcycling context, i see a shitload of guys with very nice gear for trackdays - but they'll never commit enough to come out and race.

  4. #49
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    Quote Originally Posted by Grumph View Post
    My reading of it is that a lot of millennials haven't got the balls to commit. if you don't buy something - anything - to get on the property ladder, you'll never work your way up to a nice place.

    We went through five properties before our current one. Start small, add value and work up. But it requires commitment - and sacrifice. No toys. No overseas trips.
    Quote Originally Posted by TheDemonLord View Post

    But don't you dare try and play the 'Poor Me, Woe is me, We Millenials have it so much worse' card when it is entirely self-inflicted.
    My point EXACTLY. "Millenials" in my opinion, want to start out with it all. It's all about priorities. If you want it bad enough you'll learn to do without for a bit. It pays off in the end. I've had those trips overseas now, and have my toys as well.

  5. #50
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    Quote Originally Posted by pritch View Post
    The Millenials are facing difficulties, no question, but things aren't looking too flash for the Gen Zs as they leave school and try to join the workforce.

    Then there's a pandemic to further complicate things for everybody.
    With the government borrowing happening now, they don't know what is waiting around the economic corner, waiting to hit them...
    Quote Originally Posted by Grumph View Post
    My reading of it is that a lot of millennials haven't got the balls to commit. if you don't buy something - anything - to get on the property ladder, you'll never work your way up to a nice place.

    We went through five properties before our current one. Start small, add value and work up. But it requires commitment - and sacrifice. No toys. No overseas trips.
    The apartment route is open and affordabe to get onto the property ladder.
    Just that the mentality of "property" means a 1/4 acre section with large house, is still entrenched. Sadly state housing suffers from this still.
    Quote Originally Posted by swarfie View Post
    My point EXACTLY. "Millenials" in my opinion, want to start out with it all.
    A relevant comment.
    Lady I know in real estate is saying exactly that. The powderpuffs want 3bdrm, en-suite, everything top-end... NOW!
    The twats do not want to work up the propety ladder, just have the massive house (and a massive mortgage) immediately.
    TOP QUOTE: “The problem with socialism is that sooner or later you run out of other people’s money.”

  6. #51
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    ...the Roman Empire lasted only as long as the hard men fought and won a life...soft cock, inheritors of the empire lost it...it took a while...nothing lasts forever...even diamonds, I would hazard a guess...

  7. #52
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    Quote Originally Posted by Swoop View Post
    With the government borrowing happening now, they don't know what is waiting around the economic corner, waiting to hit them...

    .
    yeah borrowing huge amounts of money is clearly financial mismanagement aye
    Quote Originally Posted by Katman View Post
    I reminder distinctly .




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  8. #53
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    Quote Originally Posted by husaberg View Post
    yeah borrowing huge amounts of money is clearly financial mismanagement aye
    And since then??
    2016 is a long time ago...
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  9. #54
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    Quote Originally Posted by scumdog View Post
    And since then??
    2016 is a long time ago...





    Looking instead at the average real per capita spending over the terms of the two governments, the VUW/NZIER data indicates a decline of 11.7% between Labour and National.
    The declining trend in core Crown expenditure since the 2011 peak, both in real per capita terms and as a share of GDP.
    Toby Moore at Victoria University of Wellington and Derek Gill at the New Zealand Institute of Economic Research
    2020
    National recognises that during an economic crisis, when we are losing thousands of jobs and businesses are struggling, increased government spending and higher levels of debt are required here and now,”
    We only had low levels of debt, following the Global Financial Crisis and Canterbury earthquakes, because of that combination of disciplined spending and the focus on growth delivered by the previous national government,”
    The second part is national party horseshit.

    National’s Finance Spokesperson Paul Goldsmith also said
    “Stopping payments to the Super Fund,
    Yeah that's smart, they did that in the late 1970s and got rid of the best user fund in the world.

    Infrastructure and Regional Economic Development Minister Shane Jones says today’s capital investment announcements show the Coalition Government is the Government of Infrastructure.
    $7 billion in projects have been announced as part of the Government’s $12 billion New Zealand Upgrade Programme, which will see capital spending at its highest rate in more than 20 years, Jones said. Further significant investment in regional New Zealand will be announced in coming weeks.
    Quote Originally Posted by Katman View Post
    I reminder distinctly .




    Kinky is using a feather. Perverted is using the whole chicken

  10. #55
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    Quote Originally Posted by husaberg View Post
    yeah borrowing huge amounts of money is clearly financial mismanagement aye
    Especially when the previous government 'saved' money by not investing in any infrastructure, touting the 'surplus' (which was just smoke and mirrors) and then you have to deal with the 2008 GFC.

    Edit: Your second graph seems to show just how well managed the finances under the John Key National government were, compared to Ireland at least.

    Seems like Key did only what was absolutely necessary, unlike Taxinda who seems to think Money grows on the Middle-class..
    Physics; Thou art a cruel, heartless Bitch-of-a-Mistress

  11. #56
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    In 1989, I was doing this - it was fun


  12. #57
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    Quote Originally Posted by scumdog View Post
    And since then??
    2016 is a long time ago...
    It lacks the relevant data (2020).
    When taxcinda arrived, NZ had about 40B debt. We are now over 120B.
    https://www.debtclock.nz/

    Liarbour winning this election will end up with them holding the massive economic turd they have laid.
    TOP QUOTE: “The problem with socialism is that sooner or later you run out of other people’s money.”

  13. #58
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    Quote Originally Posted by Swoop View Post
    It lacks the relevant data (2020).
    When taxcinda arrived, NZ had about 40B debt. We are now over 120B.
    https://www.debtclock.nz/

    Liarbour winning this election will end up with them holding the massive economic turd they have laid.
    Odd the figures tell a different story about the debt that was inherited

    when you say 40B do you mean 64B
    because the last government increased it from about 7 billion to over 64B.
    Where it sits now is the exact same place it would be if National was in power collins has said so herself.
    New Zealand, let me be straight with you. Communities, livelihoods, futures are at stake.
    “Yes, it requires historic debt,
    the only difference is we are better off as national would have borrowed even more to pay for tax cuts.
    it was a 900% increase if your figures are right we have only less than doubled Nationsals last debt rather than a 700% increase.
    As you can see from the graph and the one above labour pays off Nationals debt, not the other way around.
    Quote Originally Posted by Katman View Post
    I reminder distinctly .




    Kinky is using a feather. Perverted is using the whole chicken

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