|
|
Post by Nats on Sept 14, 2016 8:28:25 GMT
First it was Kiwibank then Westpac now ANZ NZ is going to be a closed shop at this rate, scary thought.  |
|
|
|
Post by andri on Sept 14, 2016 8:29:53 GMT
What's Happened to ANZ? I haven't been keeping up with the news lately.
|
|
|
|
Post by andri on Sept 14, 2016 8:35:44 GMT
Wow, just read they are closing rural branches. To think they are the biggest profiteers, so why are they closing branches?
Because they are holding too much investor debt that's why. That debt is at the mercy of the stock market and they know it. They are batting down the hatches.
|
|
|
|
Post by Nats on Sept 14, 2016 8:45:51 GMT
Wow, just read they are closing rural branches. To think they are the biggest profiteers, so why are they closing branches? Because they are holding too much investor debt that's why. That debt is at the mercy of the stock market and they know it. They are batting down the hatches. I agree real scary times in the foreseeable future, Glad we will be freehold & mortgage free Only have every day utilities to live by. |
|
|
|
Post by andri on Sept 14, 2016 8:52:41 GMT
You're so lucky Nats. I heard the NZX lost 10 billion dollars on Monday.
|
|
|
|
Post by Nats on Sept 14, 2016 8:57:57 GMT
You're so lucky Nats. I heard the NZX lost 10 billion dollars on Monday. OMG wonder if that's why the Vendor is pushing for quick settlement on our property |
|
|
|
Post by andri on Sept 14, 2016 9:01:08 GMT
You never know.
|
|
|
|
Post by Nats on Sept 14, 2016 9:06:40 GMT
Food for thought just the same, Vendor has been rather pushy to the tenants as the tenants came to see us last night, Had to explain it was nothing to do with us They said the Landlord/Vendor had been annoying them. |
|
|
|
Post by andri on Sept 14, 2016 9:24:44 GMT
They probably want to get the property sold asap for the commission lol No good being pushy though.
|
|
|
|
Post by andri on Sept 14, 2016 20:19:40 GMT
Did you see Paul Henry? He interviewed a British economist who predicted the 2008 crash, she said, NZ is in a very precarious position with its banks loaning willy nilly to housing speculators and NZ has the worst rate of investment debt in the world. She goes further to say NZ will be in trouble if the government keep sitting on their hands without dealing to the situation because the stock markets worldwide are flagging. Two Trillion lost recently. Things are heating up now. Banks know it. Although the reserve bank announced more interest rate cuts to come, the only way banks are going to absorb their unmanageable debt is to increase interest rates and cut back on infrastructure. Starting with rural bank closures and staff layoffs. You know things are collapsing when banks start cutting back as banks are highly profitable. They are expecting some form of impending collapse. Remember, you heard it here first lol
|
|
|
|
Post by Nats on Sept 14, 2016 20:28:21 GMT
No I don't usually watch Paul Henry, I shall be keeping an eye on the stock markets.
|
|
|
|
Post by Nats on Sept 15, 2016 21:26:06 GMT
Thanks Andri spent a few idle hours on the NZX will be visiting often
|
|
|
|
Post by andri on Oct 6, 2016 23:44:50 GMT
Did you see Paul Henry? He interviewed a British economist who predicted the 2008 crash, she said, NZ is in a very precarious position with its banks loaning willy nilly to housing speculators and NZ has the worst rate of investment debt in the world. She goes further to say NZ will be in trouble if the government keep sitting on their hands without dealing to the situation because the stock markets worldwide are flagging. Two Trillion lost recently. Things are heating up now. Banks know it. Although the reserve bank announced more interest rate cuts to come, the only way banks are going to absorb their unmanageable debt is to increase interest rates and cut back on infrastructure. Starting with rural bank closures and staff layoffs. You know things are collapsing when banks start cutting back as banks are highly profitable. They are expecting some form of impending collapse. Remember, you heard it here first lol I just heard on radio, Bill English warning of interest rate hikes even thought government and the reserve bank said a few months back, more interest rate cuts to come in the near future. This will be bad news for stock brokers, housing speculators and home owners using equity to get loans. Sooner or later the housing bubble will pop. It's only a matter of time. |
|
|
|
Post by Nats on Oct 7, 2016 0:01:13 GMT
Too true Andri I think NZ is in for fiscal crash in the not to distant future.
|
|
|
|
Post by byzance on Oct 7, 2016 0:50:56 GMT
That's exactly why we are not looking at purchasing another property until early next year.
|
|
|
|
Post by andri on Oct 7, 2016 1:47:40 GMT
That's exactly why we are not looking at purchasing another property until early next year. Good on you. |
|
