NZ 1st homebuyers are ScReWeD...

[JBmurc]

Quite an interesting comment to look back on - made on the first page of this thread in 2007.

Yes but sadly many New and old investors think Property can only continue to rise ,,,

if the lowest lending rates went back to 7% and stayed there for next decade I can promise you NZ home prices would not double .. well not unless we have massive inflation in wage growth....now if rates went Negative and we got paid interest for having debt then yes we could keep the Bubble growth in play

[peetter]

From today's flipboard

https://www.stuff.co.nz/business/mon...-from-november

I've seen many articles like this. It doesn't change my view. It's my opinion obviously based on the current situation. Common sense says there will not be significant raise in rates for years, because people woudn't be able to keep their home. No bank or government wants this. That's why I said I think the rates won't go up over 4%.

I can of course be completely wrong, I have no economic education and only go by my self study and observations.

[Crypto Crude]

It's been a sick journey for sure...I lost myself over the years but had a pretty good life... I still don't have a house! but In my attempt to skip the 30 loan term of a house I've faired up not too badly and having an unreal year.... I now have slightly more than a whole house freehold....
Pity though ... a few months back I had my investments past 1 million dollars... but here I am with a portfolio been slashed quite abit but still around 500k... I'm going all out here so pray for me that I can get that house freehold early next year and still be rolled 🙏 for life plus investments....
1 time for a freak pup 🐶 !!! Lol....

[fungus pudding]

I've seen many articles like this. It doesn't change my view. It's my opinion obviously based on the current situation. Common sense says there will not be significant raise in rates for years, because people woudn't be able to keep their home. No bank or government wants this. That's why I said I think the rates won't go up over 4%.

I can of course be completely wrong, I have no economic education and only go by my self study and observations.

I don't think you're far off the mark.

[fungus pudding]

I've seen many articles like this. It doesn't change my view. It's my opinion obviously based on the current situation. Common sense says there will not be significant raise in rates for years, because people woudn't be able to keep their home. No bank or government wants this. That's why I said I think the rates won't go up over 4%.

I can of course be completely wrong, I have no economic education and only go by my self study and observations.

I don't think you're far off the mark.

[fungus pudding]

It's been a sick journey for sure...I lost myself over the years but had a pretty good life... I still don't have a house! but In my attempt to skip the 30 loan term of a house I've faired up not too badly and having an unreal year.... I now have slightly more than a whole house freehold....
Pity though ... a few months back I had my investments past 1 million dollars... but here I am with a portfolio been slashed quite abit but still around 500k... I'm going all out here so pray for me that I can get that house freehold early next year and still be rolled �� for life plus investments....
1 time for a freak pup �� !!! Lol....

You probably mean unencumbered or mortgage free rather than freehold. Nearly all NZ houses are freehold, which refers to land tenure and simply means not leasehold. It's a common misnomer - but those who profess some financial prowess should know the difference.

[Bjauck]

You probably mean unencumbered or mortgage free rather than freehold. Nearly all NZ houses are freehold, which refers to land tenure and simply means not leasehold. It's a common misnomer - but those who profess some financial prowess should know the difference.

...and all freehold, leasehold and Maori land is owned by The Queen (in right of NZ). We are all The Queen's tenants.

[arekaywhy]

...and all freehold, leasehold and Maori land is owned by The Queen (in right of NZ). We are all The Queen's tenants.

free men? no; subjects? unfortunately yes

[Crypto Crude]

You probably mean unencumbered or mortgage free rather than freehold. Nearly all NZ houses are freehold, which refers to land tenure and simply means not leasehold. It's a common misnomer - but those who profess some financial prowess should know the difference.

I don't have a problem whatsoever for using the term... everyone understands what I mean even you...!


What is the meaning of freehold property?

: Freehold property can be defined as any estate which is "free from hold" of any entity besides the owner. Hence, the owner of such an estate enjoys free ownership for perpetuity and can use the land for any purposes however in accordance with the local regulations

[fungus pudding]

I don't have a problem whatsoever for using the term... everyone understands what I mean even you...!


What is the meaning of freehold property?

: Freehold property can be defined as any estate which is "free from hold" of any entity besides the owner. Hence, the owner of such an estate enjoys free ownership for perpetuity and can use the land for any purposes however in accordance with the local regulations

That is plainly wrong. Almost all residential property in NZ is freehold, and over 60% of those freehold properties are mortgaged to a lender, which does not change their f/h status. The titles will describe them as leasehold or fee simple, (which is freehold). I just though with all your blah and blab promoting yourself as some sort of financial whizz-kid I'd be doing you a favour with a little basic education.