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Post by aztec on Jul 14, 2008 16:17:30 GMT 12
A long way further IMHO
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Post by naki on Jul 14, 2008 23:59:37 GMT 12
In Taranaki, house prices have jumped by 50-100% in the last 5 years. Seems like every man and his dog wanted an investment property.
Now that discretionary incomes are falling and fixed-term mortgages are maturing into a tougher market, demand has dried up. Its also getting harder to find tenants willing to pay inflated prices.
I was surprised to see how many properties listed for sale in our local paper were not occupied by the owners. Seems that the bubble has burst in much the same way the 'share club' bubble burst 20 years ago.
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Post by ivyplus on Jul 15, 2008 9:54:50 GMT 12
It is time that they come down again. It is so much more difficult for young families to buy a house. And the sad thing is if they do the mother has to go out to work to help paying for the mortgage.
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Post by ivyplus on Aug 2, 2008 11:07:03 GMT 12
I wonder how would you invest $500'000 is you would have some money available?
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Post by naki on Aug 3, 2008 1:05:49 GMT 12
at this point in time, bank term deposit, short duration.
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Post by ivyplus on Aug 3, 2008 9:32:31 GMT 12
at this point in time, bank term deposit, short duration. Yes I think you are right and what about waiting a little bit and buying a house and renting it out?
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Post by aztec on Aug 3, 2008 10:18:23 GMT 12
ANZ are offering 8% on call paid monthly
I would run with something like that until the dust settles
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Post by ivyplus on Aug 3, 2008 11:25:08 GMT 12
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Post by naki on Aug 3, 2008 14:50:46 GMT 12
at this point in time, bank term deposit, short duration. Yes I think you are right and what about waiting a little bit and buying a house and renting it out? A lottery. One bad tenant can cost you thousands, having the property vacant while you look for a suitable tenant costs money.
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Post by aztec on Aug 4, 2008 12:56:47 GMT 12
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Post by ivyplus on Aug 4, 2008 17:52:36 GMT 12
Thanks for this info. I am still hoping to win lotto - and I am already planning! Naki is probably right too saying that a bad tenant can ruin a property.
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