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Originally Posted by tim23
Meet that criteria over 45 - I see my mortgage free house as a comfortable roof over my head not an ATM either...
Well... on my street in recent years, a house goes up for sale and it is bought by some conglomerate group holding and they rent the cra* out of it. I'm in a new sub-division that went for sale in 2010 and most of the original owners have sold and moved on. Some are families but because of the high commanding price, it seems the houses get sold to the highest bidder which are those property investment scheme investors that turn the house into an ATM. I'm hoping a drop of 20 or 30% price correction.
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Originally Posted by tim23
Meet that criteria over 45 - I see my mortgage free house as a comfortable roof over my head not an ATM either...
Exactly. That's how it should be in my book. Makes for a stress free existence.
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Originally Posted by iceman
There are suggestions that COVID was widespread in the Uk as far back as January without them having any idea about it and being far too late to react once they realised it. Here is an interesting interview with a genetics expert that has probably done more studies into the virus than most https://news.sky.com/story/coronavir...xpert-11979580
UK Government ministries in January were devoting resources to preparing for the UK's Brexit Day deadline on January 31st. I guess they did not think early responses were of sufficient priority to transfer personnel and resources from the dominating Brexit issues.
Last edited by Bjauck; 09-05-2020 at 06:15 AM.
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Originally Posted by fungus pudding
Neither it should be, assuming you are over 45 y.o. or thereabouts.
Do you have more equity in businesses, investment real estate and financial investments than in your owner occupied house?
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Originally Posted by Bjauck
Do you have more equity in businesses, investment real estate and financial investments than in your owner occupied house?
Yes. So do most, if not all, of my friends.
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Originally Posted by fungus pudding
Yes. So do most, if not all, of my friends.
That is quite well done for someone in the mid to late 40's. I don't think many of my friends would be in such positions, although I don't know tbh. However some of them have multi million dollar homes (Average prices in their suburbs) with chunky mortgages.
Last edited by Bjauck; 09-05-2020 at 10:12 AM.
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Originally Posted by Bjauck
That is quite well done for someone in the mid to late 40's. I don't think many of my friends would be in such positions, although I don't know tbh. However some of them have multi million dollar homes (Average prices in their suburbs) with chunky mortgages.
Living in a multi-million dollar home or suburb will certainly play havoc with your wealth-building.
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Originally Posted by fungus pudding
Living in a multi-million dollar home or suburb will certainly play havoc with your wealth-building.
That's Auckland for you. They could shoe-horn their families into a two bedroom unit in the same suburb or move further out and face a long congested commute (when things get back to normal!) and have a decent size average house for a little under 2 million I guess.
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Member
So I'm in Queenstown at the moment, drove in from Christchurch and the place is... not dead yet.
The true litmus test of economic activity would have to be the length of the line at Fergburger. No line, but the place was doing steady trade in $15 burgers and all seats and tables were full.
Still a bit of traffic on the roads, none of the queues we used to see coming into the centre.
Quite a few groups of people drinking and laughing on the Lakefront, I guess these are young locals/workers looking for cheap entertainment while things aren't quite as lively as they used to be. I would say the restaurants and bars were half full last night (a Tuesday).
I've seen no evidence of people yet dropping property prices, I do struggle to see how further satellites like Glenorchy will continue to demand 700k for a few acres. Off to Wanaka tomorrow and will be interesting to compare.
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Originally Posted by thebusinessman
So I'm in Queenstown at the moment, drove in from Christchurch and the place is... not dead yet.
The true litmus test of economic activity would have to be the length of the line at Fergburger. No line, but the place was doing steady trade in $15 burgers and all seats and tables were full.
Still a bit of traffic on the roads, none of the queues we used to see coming into the centre.
Quite a few groups of people drinking and laughing on the Lakefront, I guess these are young locals/workers looking for cheap entertainment while things aren't quite as lively as they used to be. I would say the restaurants and bars were half full last night (a Tuesday).
I've seen no evidence of people yet dropping property prices, I do struggle to see how further satellites like Glenorchy will continue to demand 700k for a few acres. Off to Wanaka tomorrow and will be interesting to compare.
Times I've been to Queenstown post Corona (4x), been surprised how busy the supermarket, shops and centre of town has been. Not sure where everyone comes from, but certainly a decent-sized queue for handouts at the supermarket.
Friend was out on the tiles weekend before last and said it was heaving......
Still those construction projects to be completed etc, so interesting to see what happens when they finish, and job subsidy rolls off. A lot of the tradies commute in from Cromwell - so this would be hit. And if you bought a property in Kingston - well that's your own fault.
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