S&P's ability to call a housing bubble is laughable.
Until we see a significant increase in supply in NZ (or a population decrease), then there will not be a significant correction.
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S&P's ability to call a housing bubble is laughable.
Until we see a significant increase in supply in NZ (or a population decrease), then there will not be a significant correction.
No disaster .... price only back to what it was the day before Percy went to the Macquaries night last week
Interesting to note the Yahoo Financial ( yes I read many sites ) headline..
" CORRECT Heartland among eight local banks put on notice over rising housing risk by S and P ".
Was that because HEARTLAND is now the Premier small bank ??
And I think that fairly sums it up.
I was very pleased with Heartland's reply.Thought it was very positive.Added to my wife's holding at 68cents today.A lot of "wingers" around today.Buyers disappearing,sellers disappearing.But after all said and done, there was more said than done.!!
Next announcement about the non-core property loans should be interesting,then we will await news of "repayment"/replacement of the expensive Marac bond.Then winner69 I expect you will report "onwards and upwards".!!!!!!!!!!!!!!!!!!!!!!!
78cents>!!!
Maybe 78cents is the new inside track?
Bit surprised the eager sellers came out at 77cents .
Talk about market over reaction. Nothing much has actually changed fundamentally for HNZ. I topped up a little today and sent away the envelopes with the DRP that I have been holding onto. I will be in the DRP while the SP remains under 90c but will consider pulling out of it if it goes above that, unless we get a discount.
If we reach Percy's 68c I will be buying up large, as long as the RBNZ new rules don't limit me mortgaging my house a bit more :confused:
An amusing situation. I was, am, hopelessly overstocked with Heartland. I reluctantly sold 5,000 or so at 77 cents to buy Mighty River. Put the $4,000 into that at $2.50. Then Heartland went to over 81 cents. Had I done the right thing? The fall today to 77 cents shows I did. The reason to sell Heartland was of course to diversify. I am nearly back to where I started before PGGWrightson and PyneGold hit rocky shores.