Is this morally wrong?

[steve_t]

Not really, gonna have to agree with Smifffy.

-Indy

LOL. Yeah, I was meaning that my post about the surrogate woman was getting OT, not Smifffy

[Indiana_Jones]

LOL. Yeah, I was meaning that my post about the surrogate woman was getting OT, not Smifffy

Sweet as cunt!

-Indy

[Winston001]

Is that right? I'd been keen to see stats on mortgage repayment timeframes. I don't think I'll get mine sorted in 7 years. Also, so many people "upgrade" their houses before their mortgage is paid off and take out new mortgages so I guess the stats would be skewed. What age do people buy their first houses at these days? 30's? 40's?

Good questions and honestly I don't know.

I've read that the average mortgage in NZ is $120,000 and that more than half of homeowners have no mortgage at all.

[Brett]

Good questions and honestly I don't know.

I've read that the average mortgage in NZ is $120,000 and that more than half of homeowners have no mortgage at all.

Shit, wish my mortgage was $120k.

[BMWST?]

Given that many of our local stores put 800 percent mark ups on our everyday items, 400 percent isn't exactly outrageous...

800 percent....dont think so.Some of the small items at Placemakers etc will have 200 margin(400 per cent) but thats like 4 dollars for a bolt bought for 1 dollar.Bit you cant do that over the whole store

[steve_t]

800 percent....dont think so.Some of the small items at Placemakers etc will have 200 margin(400 per cent) but thats like 4 dollars for a bolt bought for 1 dollar.Bit you cant do that over the whole store

I'm told that a certain high value dinnerware brand in NZ has GP well into 4 figures. I'd also be surprised if this wasn't the case for stores such as Briscoes and Kathmandu that regularly have half price sales

[avgas]

I know you are correct in theory but in practice people pay their mortgages much quicker than the full term. The average mortgage used to be paid off in seven years, possibly longer today.

The other element to remember is everybody has to live somewhere. You either pay rent or a mortgage. Its inescapable.

By contrast, most of us can survive without a vehicle, stereo, plasma tv etc. Borrowing money to satisfy want rather than need is the downfall of many budgets. Boring I know.

So your saying its a need to own a home rather than rent.....

As for people paying mortgages off quicker. Everyone gets a wakeup call eventually - or else the remain in debt for their whole lives........

[avgas]

Good questions and honestly I don't know.

I've read that the average mortgage in NZ is $120,000 and that more than half of homeowners have no mortgage at all.

Probably has something to do with 50% of NZ renting.......

also that mortgage figure will be "home mortgage" not rental properties etc

Never trust a stat until you see how they measure it.

FYI National Home mortgage debt is around $20-30B
So that is what around 8,000 per person.........many of whom either don't own a home, or a under the age of 20......

[StoneY]

Erm, like who... On what...

Try Countdown and New World on Milk, butter and cheese (of course with assistance from those rougues Fonterra)

:P

[Ronin]

Try Countdown and New World on Milk, butter and cheese (of course with assistance from those rougues Fonterra)

:P

Would love to see the facts that show 800% I worked for one of the mentioned companies in inwards goods and the average GP wandered around the 27% mark.

[StoneY]

Would love to see the facts that show 800% I worked for one of the mentioned companies in inwards goods and the average GP wandered around the 27% mark.

Will have to see what the consumer folk come up with in regards the artificial inflation of milk prices and what they reckon after the inquiries

But you're right its probably nowhere near 800%... I was being a smart ass

However it is pathetic we have to pay full international rates for our local product, when those overseas get our milk for about two thirds what we pay...and they have to transport it there first!

I reckon this sort of business model here is at the least unethical. Cant say its robbery tho the participants go in with eyes wide open

[Brett]

800 percent....dont think so.Some of the small items at Placemakers etc will have 200 margin(400 per cent) but thats like 4 dollars for a bolt bought for 1 dollar.Bit you cant do that over the whole store

I did say on certain items, not a gross margin on their entire product mix. I know that many of the hardware stores run on 800% margins on some product lines. Happens with automotive parts all the time as well. Bare in mind, they are generally procuring their product direct from the manufacturer in some instances, so they get to incorporate the margin that a wholesaler/distributor would be taking.

Edit: keeping in mind that stores often run loss leaders too to attract consumers....

[Brett]

Would love to see the facts that show 800% I worked for one of the mentioned companies in inwards goods and the average GP wandered around the 27% mark.

My understanding is that generally the large volume grocery retailers don't have huge mark-ups at all, their model is (obviously) based on volume. I have an acquaintance who works closely with foodstuffs and progressive management, will try find out what the average mark up actually is for the supermarkets. Doubt it would be over 20% though.

[Maki]

They found a way to make people who are dumb pay for it. I don't see anything wrong. Maybe it will even help some of those people see the light and stop being exploited.

[Winston001]

Will have to see what the consumer folk come up with in regards the artificial inflation of milk prices and what they reckon after the inquiries

However it is pathetic we have to pay full international rates for our local product, when those overseas get our milk for about two thirds what we pay...and they have to transport it there first!

Yes we are all rather puzzled about this. Why a clear explanation of the supermarket price of milk hasn't been traced by journalists is difficult to know. Have just done a search and there is just the usual shock horror milk is expensive tripe.

So far as I can tell, supermarkets make more money per litre than the farmer, and Fonterra. The markup is 50-80%.

In Oz the farm price is the same but the supermarkets compete more which lowers the price.

Incidentally, people willingly pay even more to buy...WATER. The freaking stuff comes out of the tap for nothing. http://storyofstuff.org/bottledwater/