> As a property investor, I can't complain too much about this latest property > boom, it's certainly done great things for my net worth. But I certainly > feel sorry for first home buyers who now need to pay $300k, and floating > interest rates at around 10%, simple math says that they need to come up with > $30k a year just to pay the interest, let alone any principal. > > But I wouldn't be complaining if house prices were still cheap - I'd be able > to afford to buy more.
And its fear of upsetting property investors (favourite kiwi item) that impedes action. you see your house price soar which seems like good thing till you realise your children cant affort to buy. meanwhile, more and more people have to rent so easy for residential property investors to make their returns. The end result isnt my dream for NZ though. ---------------------------------------------------------- Phil Scadden, GNS Science Ltd 764 Cumberland St, Private Bag 1930, Dunedin, New Zealand Ph +64 3 4799663, fax +64 3 477 5232 _______________________________________________ NZ Borland Developers Group Offtopic mailing list Post: [email protected] Admin: http://delphi.org.nz/mailman/listinfo/offtopic Unsubscribe: send an email to [EMAIL PROTECTED] with Subject: unsubscribe
