NZ 1st homebuyers are ScReWeD...

[Dr_Who]

Don’t let debt scare you – just be aware of your ability to repay!

Tell that to all the high flyer property developers out there who are falling like flies in this depressed realty market. They were drinking Dom Perignon in their beach house just last year and now they are standing in court explaining to the judge why they shouldnt be liquidated by the finance firms.

[Crypto Crude]

mackdunk-SHREWDY, Your inexperience is showing. The bargain can be better bought in a rising market. I prefer looking for bargains in a booming market. You will find mortgagee auctions are best in boom times with a quick flick off. Times like this you are stuck with it waiting on the market to turn. There might be lower prices but harder to sell which makes bargain hunting in the good times a better paying proposition. Macdunk

Whos waiting for the market to turn?
Not me...mad men are currently waiting for the market to turn, they must have too much time on their hands waiting for that to happen...IE years...
theres no turning mackdunk, theres only falling...
The best buying at the moment Id say is Old kent road, Park lane, Euston st... other than that, leave the real buying until the best time...

mortgagee auctions best in Boom times with a quick flick off? "with a quick flick off", First homebuyers are not thinking about a flick off, they are thinking about buying their first house... in bad times mortgagee sellers become more desperate, and there are many more of them on the market... do you agree?


The 30yr sentence turned into a 10yr walk in the park is made possible through a greater saved deposit, lower house price, lower forward looking interest rates...
And the combination of that makes a future homebuyer better off than a buyer of 2-3 years ago...

House A would have sold for $500k last year in a good market...
House A sold for 420k now in a bad market...
Its pretty simple to me as to which market id prefer buying in...

you read the sharemarket exactly right, and called it before it happened, and sold before it turned big... how could you read the housing market situation so wrong? when you go the Sharemarket so right?...

.^sc

[Crypto Crude]

The KING is back

A housing expert, (and shrewd crude) are both encouraging first home buyers to delay their plans and make the most of renting.
The property investors Federation says the weekly costs of home-owning are now around two and a half times that of renting.
Vice president Andrew King says prospective buyers could be saving around $20,000 a year by renting, which could then go to a down payment.
source: newstalk ZB... article on tele text...

Andrew King, any relation to our mate Joe?...
Costs of homeowning are 2.5 times that of renting....!..... huh?
what about the costs of owning a losing asset... that 300k asset is worth at least 30K less this year... So real savings (so far this year) are about 40K then huh....

.^sc

[duncan macgregor]

SHREWDY, I hope for your sake you dont take JOE KING up on that golf match. He will get the shirt off your back mate. I have never lost on a property deal ever. I have seen property cycles come and go with the usual bunch of clowns staying out the market missing out time after time. Looking back my average increase in property value was over 10% my average mortgage was about 8% with my average rent at 7%. I have bought bargains and sold properties right round the various cycles used the banks money to my advantage never lost on a deal. Like i said SHREWD one dont play golf with joe i think he will take you to the cleaners. Macdunk

[Crypto Crude]

I dont care if he beats me or not... My handicap is 36...
I dont hand in score cards...perhaps thats why my handicap is the lowest...
and my golf clubs are too blame... damn bent clubs, (well one of them when it got rapped around a tree, the funny thing was I didnt realise for quite some time that it was bent)...

.^sc

[Financially dependant]

SHREWDY, I hope for your sake you dont take JOE KING up on that golf match. He will get the shirt off your back mate. I have never lost on a property deal ever. I have seen property cycles come and go with the usual bunch of clowns staying out the market missing out time after time. Looking back my average increase in property value was over 10% my average mortgage was about 8% with my average rent at 7%. I have bought bargains and sold properties right round the various cycles used the banks money to my advantage never lost on a deal. Like i said SHREWD one dont play golf with joe i think he will take you to the cleaners. Macdunk

Geeze you blue eyed brigade just don't get it! This market is going to crash (after the Olyimpics) big time, I have my money in aussie dollars gaining interest. When the time is right I will be picking over the dead carcases of the property market, picking the bargains from the road kill!

[Dr_Who]

Geeze you blue eyed brigade just don't get it! This market is going to crash (after the Olyimpics) big time, I have my money in aussie dollars gaining interest. When the time is right I will be picking over the dead carcases of the property market, picking the bargains from the road kill!

LOL...

You blue eyed brigade never learn when you bought into PRC and NZO below $1.00, while I, McDunk made huge gains putting my money in Aussie and sold my lifestyle block properties at a huge premium to fools in a depressed property market who listen to my rambling about how the property market never drops. Shrewdy, have you learnt anything from me, McDunk yet? Listen and learn young fella!! LOL

[Crypto Crude]

ahh.. I put a post up and it did not quite sound right...
Before I go further I want to clear something up with mackdunk...

SC-Pity the joe kings and mack dunks did not call the looming housing crisis before it happened...
Job only half compete Id say...

MD-SHREWDY the JOE KINGS and the Macdunks have just done that.

Mackdunk can you please explain "the JK's and MD's have dont just that"...
Do you mean that the JK's and the MD's have both sold out of the housing market?

.^sc

[Crypto Crude]

and Mackdunk,
Do you have an opinion of the Article I posted...
Its pretty compelling eah?
The truth please, dont beat us around the bush...

.^sc

[duncan macgregor]

SHREWDY, You can say house prices fall by this or that, therefore i must have saved such and such by being out the market clever me. Thats how the average dummy might see it, who cant see the wood for the trees. The market goes up, and down, on a general over all trend up over the years by over 10%. If the market goes down it is always followed by a steeper trend up playing catch up. If you buy a property at a cheaper price than the building cost at any stage in the cycle, you are on to a winner. It is better to buy a bargain on the up cycle for a quick profit, rather than in a downtrending market where it takes longer to sell.
If you want to buy to live in the property for ever and a day, as long as you buy at under building cost it does not matter what stage the cycle is at. The JOE KINGS understand the cycles, and sell at the top but buy at any stage in the cycle as long as the numbers stack up. The only people selling are the must sell brigade, the others wait it out. The smart investor knows that if a property is to high a price today, then tomorrow its the right price, then after that its a bargain.
Never buy simply because its cheap, position, potential,area, all come in to it better to pay to much as get second best. Hope you wake up in time to take advantage of it and learn to use other peoples money to your advantage. Macdunk