Big five New Zealand banks fill their boots on home loans during September quarter as COVID-19 sends profits south

Big five New Zealand banks fill their boots on home loans during September quarter as COVID-19 sends profits south

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5 Comments

Is not a Home Loan today, modern slavery, for either the single owner or the multiple owners rental mental Brigade. Either way it takes more funny munny to pay back for what seems like eternity, but is only 30-50 years, depending on gross income, net of taxes, netted you for Life.

Trawling the bottom, is fishy to me. Tax Free is only if you ain't as dumb as some and maintaining the Property Ladder with shite materials is a never ending..Curse.???...is it not.

A Ponzi Ladder is what it should be called, as all munny is not Funny these days, it is ..no laughing matter.

Hence why negative interest will never work....and the main reason, why I will never "Work" again.

Perhaps we should "Sell" our Fair Land, to the Highest Bider, then get the hell out and go and live in a much cheaper place, where Houses are as cheap as chips, but do not Rot and have been like that for centuries.

A Chateau or a Castle can be turned into many apartments and some Houses in Italy are free as a bird, as long as you tidy em up with your Foreign Dosh. Swapsies, I call it....Fair Exchange for a cheaper way of life.

LET..... some other bastards, pay the Letting Fee, for the Rental Mental Brigade, aided and abetted by ORR and Jacinda.......and the National Twits who ruled before.......Sod off I say...way cheaper abroad, cos the Broad wants her Cake...and eat it.

Sadly buying a house in New Zealand 15 years ago in Auckland was the only way I have got ahead in life and into the strong financial position with a high net wealth I am in now. Wages in this country are rubbish and the "House" was earning more each week than I was working full time. The big question you need to ask yourself is have things changed ? The clear answer to this point in time is clearly NO.

Spot on, but it's not too late decision to make for new jr doc, graduate nurses, teachers, lab workers, graduate engineers, police force, pathologist, hematologist, oncologist, internist, anesthetist etc. to immediately heads for OZ - quick way to avoid current NZ predicament.
Watch when some of those NZ prominent property wealthy moguls, actually have to wait for healthcare appointment overseas.. staffed by Kiwis.
Felt sorry to those that decided to enslave in NZ for such poor wages/condition and still being squeeze on by the OZ master, banking & grocery.

Liked the title, when everything goes south.. the natural reaction is to head the only way investment that being guaranteed by govt & rbnz - life in NZ is about preserving wealth it's never about health. NZ have a short psyche believe that wealth from housing up rising valuation will trickle down to health well being of the nation, so much so? the easiest way is to keep on printing the dosh, to magically prop up the price. Being prudent, austerity, living within it means are something Kiwis not prepared to do - Kiwis love affair with binge is too deep in everything. Most policy makers believe to run a car without a brake, just being savvy to drive around, until the inevitable happen.. oh but wait - aren't we all wearing seatbelt? - yes, let's gas on.. wrrrp