NZ 1st homebuyers are ScReWeD...

[Crypto Crude]

Mackdunk,
If I was ever to sit in on your house while you were out of town... Id throw the biggest Sharetrader Party in Aucklands History.... The Police would come and find the Gang with our mate Joe king tearing it apart...

Without a House,
The next night we would set up a camp fire with tents and toast marshmellows...


Mackdunk,
thanks for clearing that up... I guess for the near term first homebuyer this idea would be inappropriate...without collecting Rent for the interest payments is a deadly toxic mix....

.^sc

[duncan macgregor]

Mackdunk,
If I was ever to sit in on your house while you were out of town... Id throw the biggest Sharetrader Party in Aucklands History.... The Police would come and find the Gang with our mate Joe king tearing it apart...

Without a House,
The next night we would set up a camp fire with tents and toast marshmellows...


Mackdunk,
thanks for clearing that up... I guess for the near term first homebuyer this idea would be inappropriate...without collecting Rent for the interest payments is a deadly toxic mix....

.^sc

My kids turned out not much better than you SHREWDY when they were left in charge. Macdunk

[Dr_Who]

Mackdunk,
If I was ever to sit in on your house while you were out of town... Id throw the biggest Sharetrader Party in Aucklands History.... The Police would come and find the Gang with our mate Joe king tearing it apart...

Without a House,
The next night we would set up a camp fire with tents and toast marshmellows...


Mackdunk,
thanks for clearing that up... I guess for the near term first homebuyer this idea would be inappropriate...without collecting Rent for the interest payments is a deadly toxic mix....

.^sc

That was so funny it brought tears to my eyes... LOL

Hey McDunk, I am interested to know why you sold your lifestyle block? Do you see a further prolonged downturn in the property market?

[Crypto Crude]

Dr Who-Hey McDunk, Do you see a further prolonged downturn in the property market?

Dr Who,
I was going to wait for Mackdunk to answer your question before I pounced... But I thought Bugger it... Mackdunk has been asked these questions before and he always goes down the same line...

DR who,
good question... BUT Your asking the right question to the wrong person... Mackdunk has a proven track record of making Wrong calls in the short term, to near term housing market... BUT my mate mackdunk has an awesome track record over the long term...
Because the long term has performed so well, it has blurred his signals in the short term... this is understandable...
The Main reason why asking mackdunk is suicidal is because he has a biased view as he clearly has a vested conflict of interest...
...

My dad came back from the Real Estate agent who told him the housing market is just fine... Seriously... its the same sort of thing... Mackdunk will give you the same response these dudes will..http://www.reinz.org.nz/

...Mackdunk has down played the housing Situation before it started to turn, as it was turning, and after it turned... Its all here in writing back on this thread... go check out what he said 5 months ago...

the Market has come off 10% and we are only 5 months in...
This has only just begun...get strapped Boys and girls...

Rule number 1
Never take advice From someone who has a conflict of interest...
Rule number 2
Seek advice which is correct...

I Still want to here what Mackdunk has to say...

CSG Right now is Paying for my future house with potential (on paper) to pay for it in cash, which otherwise would have gone straight into a mini deposit...
Hope you all took up my advice of RPM not long ago, here on this thread......
Big money to be made on the sharemarket... big money to be lost in NZ housing Market...
End of story...

.^sc

[Dr_Who]

I hear ya Shrewd.

McDunk has been talking up the property sector all through the ST site for over a year and now he turns on us and sells his lifestyle block... LOL. So I want to hear what McDunk has to say.

BTW.. I am loaded with gas and oil stocks. All have performed very well with the exception of TEX, which I only just bought recently. TEX catapult drilling (if successful) will sling shot the sp to heaven.

[Tok3n]

Well, I've been looking around for my 1st home, prices have held up, I don't see much panic out there (and unfortunately no bargains)

All this panic about a crashing market etc is just plain media hype.

Need unemployment in the main centers to really tick up significantly to see any major price drops.

[duncan macgregor]

DR WHO I will deal with you first. The whole world dousnt stop simply because the property market is going through a normal cycle. The best time to sell is when the market starts to downtrend like a stop loss in share investing. Sell at your leasure like i did, got Eighty thousand above my mug valuers valuation. Bought at seventy five thousand under the asking price for a new four BRM, B&T at the beach. Understand the game before you play it.
I hate to think how many building cycles i have been in. The price of property is destined to go sky high when this current cycle is over.
Property is controled by supply and demand, with the level of pricing based on the new product, which is being priced out of reach of the average family by utter stupitity.
Double glazing, insulation everywhere, rule changes at a moments notice, The cost of compliance is horrendous compared to a few years ago. Most people would love to drive a rolls royce, but can only afford a mazda, that is what has happened to the housing market. What happens now is builders leave in droves. When the cycle turns they charge the earth with 20 pc pa inflation in house prices coming up instead of the normal 10pc.
SHREWDY, That house you posted me to look at is in the high risk category to be a leaky home. If it is only a couple of years old it might have an exterior air cavity but if it dousnt then tell the person to sell as quick as they can.
It looks very nice on paper but the harsh reality is the designers draw nice pictures but know nothing about building dynamics. Learn how to buy, and learn how to sell, there is just as much money to be made in a falling market as there is in a rising market. Macdunk

[fungus pudding]

Well, I've been looking around for my 1st home, prices have held up, I don't see much panic out there (and unfortunately no bargains)

All this panic about a crashing market etc is just plain media hype.

Need unemployment in the main centers to really tick up significantly to see any major price drops.

What you will notice if you have been looking is there are more listings available; that's because there are fewer buyers. Many houses are taking much longer to sell. And less activity in the market is a sure sign that prices will fall - soon some vendors will take their blinkers off and decide to meet the market. Patience will be rewarded.

[minimoke]

I hate to think how many building cycles i have been in.

Macdunk
I can’t help but feel you’re wasting your breath. There are some of us here who love property and I am in no doubt there are bargains out there to be had now and when the cycle is at its peak. There is no need to wait until the so called bottom arrives. If you know what you’re trading you know where the value is. This doesn’t mean to say that every property purchase is going to be a good one – there are different arguments between buying a home and an investment property. Sometimes it takes living through a few life cycles to see where the opportunities were. I’ve been in a mortgage since I was 16 and will no doubt die with one. Doesn’t worry me if its secured by property. I’m not sure I’d feel the same if the debt was tied to shares. Buy right, sell right – its not a complex formula.

[Crypto Crude]

Minimoke how long have you been in housing mate?

.^sc