Quote Originally Posted by Shrewd Crude View Post
your absolutely right... they look at housing as a 30 year debt ridden life...
New Zealand way of living....
that is why I stipulated that through waiting through the boom, you can cut that mortgage from 30 years to 10 years until fully repaid.....
c
I’ve said earlier that debt shouldn’t be frowned upon –its just a commitment to repay someone for the pleasure of the use of their money. I intend dying in debt.
The risk now of riding through the down cycle is that the hopeful first home buyer has a job or steady income to save enough for the deposit and where are they going to put those savings. It looks like dodgy Finance Companies is the place to go at the moment – and there is some irony that these investors have put their money into property via Mascot and not lost a bean.