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  1. #51
    Senior Member
    Join Date
    Jul 2007
    Location
    Waitakere New Zealand.
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    1,083

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    Arbitrage no He wants to get cunning and decrease the overseas borrowing and raise it 0.5% also will stop the spiral starting again
    Possum The Cat

  2. #52
    Guru
    Join Date
    Jul 2004
    Location
    Bolivia.
    Posts
    4,854

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    Barfoot & Thompson report that they sold 3 out of 51 houses that go to auction - WOW!

    I suppose those, you go unconditional at auction, and people would be scared of not selling their existing home.

  3. #53
    Senior Member
    Join Date
    May 2002
    Location
    Wainui, New Zealand.
    Posts
    923

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    Heard today that Fletchers have stopped work on at least 20 houses in the old Mt Wellington quarry development. Info came via a subbie on development. Someone may be able to confirm or otherwise.

  4. #54
    Senior Member
    Join Date
    Jul 2007
    Location
    North Shore
    Posts
    1,088

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    A full page ad in the North Shore Times today taken out by a RE company.

    "Prices will keep going up"
    "Interest rates will fall soon"
    "New Zealand's population is increasing"

    It does sound like the ol refrain "This time it's different"
    Disclaimer: Do not take my posts seriously. They are only opinions.

    AMR has sold all shares and is pursuing property.

  5. #55
    Tin-foil Hatter
    Join Date
    Feb 2003
    Location
    Toronto, Canada.
    Posts
    129

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    If they seriously believed in their own cr*p they would be buying the properties for themselves.
    God - Please give us just one more bubble....

  6. #56
    Senior Member
    Join Date
    Apr 2007
    Location
    , , .
    Posts
    620

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    Pressure is going on Bollard to reduce interest rates.

    http://www.stuff.co.nz/4514881a13.html

    Sorry to harp on, but if it left too long then it will be a longer road to recovery. I suggest 0.25% reduction later this month. You heard it first here.

  7. #57
    Senior Member
    Join Date
    Sep 2001
    Posts
    868

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    Was watching the box the other night and there was a bit on bank owned houses in the states and the cops security guards that where going around cleaning out the squatters,some squatters were cleaning them up getting the power put back on and renting them out.

    Lots of houses were trashed and when they contacted the banks they didn't want to know and didn't get back to them.

    So the bank owns a house that is dropping in price,no one wants to buy it and it's now trashed,someone is taking a big hit and loosing lots of money.

    Cheers
    Miner

  8. #58
    Senior Member
    Join Date
    Jul 2007
    Location
    Waitakere New Zealand.
    Posts
    1,083

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    Abitrage that would be absolutely stupid everybody would go mad and expect the reserve bank to bail them out every time they need to reinforce the message not to be an idiot by increasing them preferably two 0.5% rises 3 months apart starting now.
    Possum The Cat

  9. #59
    Member
    Join Date
    Sep 2002
    Location
    USA
    Posts
    147

    Default

    Quote Originally Posted by miner View Post
    Was watching the box the other night and there was a bit on bank owned houses in the states and the cops security guards that where going around cleaning out the squatters,some squatters were cleaning them up getting the power put back on and renting them out.

    Lots of houses were trashed and when they contacted the banks they didn't want to know and didn't get back to them.

    So the bank owns a house that is dropping in price,no one wants to buy it and it's now trashed,someone is taking a big hit and loosing lots of money.

    Cheers
    Miner
    Banks don't have to worry as they have swapped their AAA MBS for treasuries at the FEDs TAF window - just keep rolling over every 28 days. No worries until.....

    FED has used 2/3rds of its balance sheet only 1/3rd to go.
    The trend is your friend.

  10. #60
    Senior Member
    Join Date
    Sep 2001
    Posts
    868

    Default

    Ta Trendy,interesting,but the way I look at it sooner or later someone has to pay the piper and when that time comes ouch.

    Cheers
    Miner

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