Comments for The Rates Blog

Comment on Have your say: Westpac eases lending criteria to offer 90% home loans by speckles

speckles — Fri, 10 Jul 2009 08:20:37 +0000

Gertuad, you comments make me pause and I do feel for you.

With regard other comments, the lesson is property markets are not rational, they reflect the accumulation of market participants most who are driven by emotional decision making. The success of these markets is vital to large group of stakeholders in the economy. People who emotionally invest are the easiest to influence and effectively market to. Without a major economic shock to the real sector of the economy, I do not believe we will see major change to the property market.

Possibly one is developing as we speak, however I see no evidence to date of the downstream effects of one of sufficient magnitude.

An optimistic attitude can achieve a great deal. We are having a record year, solely being alert to opportunities and a disciplined approach to assessing the payoff.

Attitude and happiness in life go hand in hand.

Comment on Median house sale price up in June, numbers sold falls 4% from May (Update 1) by Gibber

Gibber — Fri, 10 Jul 2009 07:34:57 +0000

Even the banks are starting to acknowledge this, with Westpac the first to return to 90% lending.

Sounds like the orchestra has finished tuning up. The music is playing.

And the crowd has started to chant again…

PONZI! PONZI! PONZI!

OI! OI! OI!

PONZI! PONZI! PONZI!

OI! OI! OI!

The bubble has had the patch applied and the banks are pumping in that debt again. The House Debtors are lining up again…

Any bets on how long this new bubble will last?

Comment on Have your say: Westpac eases lending criteria to offer 90% home loans by Gertraud T.

Gertraud T. — Fri, 10 Jul 2009 07:33:04 +0000

Crazy! Absolute insane! The still existing price bubble will further inflate!
I sold in the last eight years two properties, both times with a moderate profit after upgrading. Capital from both properties is not enough, to get me at todays prices something similar, hence I am renting for the last 2 years waiting for the prices to get down. As a pensioner, the monthly rent for a 2 br.unit in a not posh suburb (Onehunga) is higher than my monthly pension, so I have to eat literally my capital, which is diminished not only by this, but also be deposit interest rates lower than annual inflation.
Bought never with a mortgage, never for speculation, invested the savings from a long working life. I am sure, many pensioners are in a similar situation, being punished for being frugal and somebody out there must be responsible that the purchasing power of our dollar is melting like butter n the sun.

Comment on Have your say: Westpac eases lending criteria to offer 90% home loans by grapar

grapar — Fri, 10 Jul 2009 07:22:46 +0000

Dear Wally - wah wah wah wah wah - you’re obviously right - being pessimistic is so simple - snuggle up to the worst case scenario and take your comfort there.

I was afraid and uncertain when I left home to study at 16, scared when I got married, uncertain when I had children, worried when I took on a mortgage, reluctant to invest etc, - and guess what, some of the less certain were the best decisions ever.

Wally - what are you afraid of? Other people may be happy, and they may not even be as brilliant and prescient as you?

Comment on Top 10 at 10: More capital for Kiwibank?; King Mark and Ivan the Terrible; Climate changing; Arnie’s IOU disaster; Dilbert by Les Rudd

Les Rudd — Fri, 10 Jul 2009 07:19:21 +0000

Ruru - yep, check the label:

http://www.interest.co.nz/ratesblog/index.php/2009/06/19/big-problems-with-big-dairy-herds-tell-us-what-youve-heard-or-seen/#comment-27401