Risky Lending / Interest rates

[TeslaGod]

Just for your guide the first home buyers I see in Wellington paying around a mil, some more are Absolutely Positively not on “entry level incomes”.

Yes I invest in Wellington here's my reason why are bought multiple properties 6 to 8 years ago.

-House prices didn't move when I was buying then , They were flat for 8 years .

- Wellington is in a gorge with very little land supply

-I predicted when National would eventually get turfed out of power leading the way for highly paid government bureaucrats from an incoming socialist government to flood Wellington pushing up house prices.

Those properties were a great investments.

[Bjauck]

Yes I invest in Wellington here's my reason why are bought multiple properties 6 to 8 years ago.

-House prices didn't move when I was buying then , They were flat for 8 years .

- Wellington is in a gorge with very little land supply

-I predicted when National would eventually get turfed out of power leading the way for highly paid government bureaucrats from an incoming socialist government to flood Wellington pushing up house prices.

Those properties were a great investments.

Wellington has rocketed recently. Do you have a trustworthy property manager for them?

[TeslaGod]

Yes, and Wellington has been rocketing for the past 6 years.

I'm confident that it is coming to an end as all boom's do,if National get into power in 2023 I wouldn't be surprised if Wellington house prices stagnant for up to a decade.

Young people will have plenty of time to buy then, I have seen it all before.

[winner69]

Remember when I could buy 5 aniseed balls for a penny at the corner diary

Wonder what they cost now?

[SBQ]

Remember when I could buy 5 aniseed balls for a penny at the corner diary

Wonder what they cost now?

I'm still amazed how NZ has a large culture of seniors that insist putting their cash in term deposits. If inflation has any reckoning, consider how much other asset classes (shares and houses) have gone up vs those that kept their $ in the bank collecting measly 1-2% p.a. returns.

I'm not saying cash is bad but over a year ago we've had some stellar opportunities to invest into houses and shares. I've moved almost all my liquid cash reserves during in early 2020 into equities which resulted in considerable gains. The old people I know living back in Canada know the value of money - they typically view cash in the bank is a waste of time and only have 'sufficient' amounts there for monthly living expenses. The vast majority of their wealth is invested in stocks - a very different mix to what I see in NZ.