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  1. #111
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    Quote Originally Posted by SBQ View Post
    With interest rates on Term Deposits so low, why do you want to lock up $100K of cash for 2 years? Gone are the days where you could get 9% with cash and it's not very likely we will see even 5% in the next 10 years.

    I had over $1M in cash term deposit 3 years ago that I had to break (yes you lose most of the interest) to buy a house that wifey wont at an auction. It was sold under GV and while hind sight is 20/20, it certainly did a lot better than money in the bank. Not saying future house prices would repeat the same gains but there is a lot to be said about "cash is king". It is king if you're presented with an opportunity.
    In theory I am receiving for the 100000 in the bank the 2.55% that I would be paying for the mortgage, total money is an offset. If I take it out to do something else with it I would then be paying off a mortgage. So have to weigh up the benefits of just paying back capital or paying back interest and capital and doing some other investing.

  2. #112
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    A few people getting burned with their 1 year fixed coming up for renewal.

  3. #113
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    Quote Originally Posted by smpl View Post
    A few people getting burned with their 1 year fixed coming up for renewal.
    Big increase but interest rate rises might already be peaking, one more rise in the OCR then it is anyone's guess.

    https://www.nzherald.co.nz/business/...4GWNU7HOP5P2M/

    Either way inflation and interest rate rises bad for share prices or lower rates and recession bad for share prices (not if combined with money printing(liquidity) which is what we are all waiting for).

    Glad I am not coming up to retirement just yet, some tough choices to make with no way to know what will be best until after the fact. Maybe no options are good if things turn to custard, only less bad.
    Last edited by Aaron; 11-07-2022 at 09:34 AM.

  4. #114
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    ‘Interest rates might be peaking’…..that’s what the desperate property shills and the banks want you to think.

    Meanwhile, out in the real world….

    ‘U.S. Inflation Hits New Four-Decade High of 9.1%’

  5. #115
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    Quote Originally Posted by Logen Ninefingers View Post
    ‘Interest rates might be peaking’…..that’s what the desperate property shills and the banks want you to think.

    Meanwhile, out in the real world….

    ‘U.S. Inflation Hits New Four-Decade High of 9.1%’
    If our CPI comes in high again on Monday , after the Aussie Employment data today and the US CPI , things could be pretty ugly here next week.

  6. #116
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    Quote Originally Posted by stoploss View Post
    If our CPI comes in high again on Monday , after the Aussie Employment data today and the US CPI , things could be pretty ugly here next week.
    It’s a perfect storm of ‘ugly’ for our ‘property ponzi scheme’ economy. As far as the young are concerned they are off to greener pastures, while those that have buried themselves in debt are going to be left holding the bag of excrement.

  7. #117
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by Logen Ninefingers View Post
    It’s a perfect storm of ‘ugly’ for our ‘property ponzi scheme’ economy. As far as the young are concerned they are off to greener pastures, while those that have buried themselves in debt are going to be left holding the bag of excrement.
    we might well see some FHB just walk away from homes if they owe more to the bank than selling prices in time and do the boost overseas to live...having 90%+ of the bubble price and then be paying 7%+ pa for a property going downwards in value etc >>>
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  8. #118
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    Quote Originally Posted by JBmurc View Post
    Rates cant go much higher without really hurting NZ businesses & Consumers ...we are a HIGH COST(HIGH DEBT) -LOW WAGE economy .... only matter of time till we will see our credit rating come under pressure when it all starts to unravel (most likely from a Global correction thats due any month now) ...

    IMHO RBNZ will do a small raise next meeting ...that will be followed by a reduction then negative rates during 2022 as it all comes apart >>
    We are a High debt, low wage, high tax burden on income earners economy which is kept afloat by high net immigration. So now we are in trouble after several years of reduced immigration failed to keep the merrygoaround in motion.
    Last edited by Bjauck; 19-08-2022 at 02:03 PM.

  9. #119
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    Quote Originally Posted by Bjauck View Post
    We are a High debt, low wage, high tax burden on income earners economy which is kept afloat by high net immigration. So now we are in trouble after several years of reduced immigration failed to keep the merrygoaround in motion.
    Some truth in that, if you add “generally and increasingly large proportion of society being too lazy to contribute in a meaningful way through hard work & dedication to our common goals for NEW ZEALAND’s prosperity”

  10. #120
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    Quote Originally Posted by iceman View Post
    Some truth in that, if you add “generally and increasingly large proportion of society being too lazy to contribute in a meaningful way through hard work & dedication to our common goals for NEW ZEALAND’s prosperity”
    It's a bit hard when all your hard work is diluted by the record migration.

    NZ needs to produce more per hour, not have more bodies thrown into the grinder.

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