loud_37 wrote:

Anyone can buy anything as credit is so easy to get, can they afford it is another question.

I like the quote
" People buy things they don't need, with money they don't have,
to impress people they don't like".

Edited by marte at 5:56 pm, Fri 16 Jul

marte - 2021-07-16 17:56:00

marte wrote:

I like the quote
" People buy things they don't need, with money they don't have,
to impress people they don't like".

haha I LOVE IT! ????????????????????

lakeview3 - 2021-07-16 18:24:00

Its interesting that I can get a new $400,00 machine on 1.99% finance and all I have to do is sign and date a form, where as If I went thru a bank they would want all sorts of info including last couple of years financials and considering what 2020 was like its not that flash, and even then it'll be 2.49% or more with a whole lot of stress.

Edited by mrcat1 at 6:59 pm, Fri 16 Jul

mrcat1 - 2021-07-16 18:58:00

mrcat1 wrote:

Its interesting that I can get a new $400,00 machine on 1.99% finance and all I have to do is sign and date a form, where as If I went thru a bank they would want all sorts of info including last couple of years financials and considering what 2020 was like its not that flash, and even then it'll be 2.49% or more with a whole lot of stress.

so what you are saying is that the banks are being more responsible?

csador - 2021-07-16 19:27:00

lakeview3 wrote:

True inflation is out of control, money printing will be stopping. People have and still are spending up a self gratification storm.

If the banks are stressing loans at 6% now then that will also have to go up as interest rates rise.

I hope this country trains more mental health practitioners because we are going to need them.

Depends what people are spending on, really though, so much on home improvements around here… there is good borrowing that can make a liveable space to return you rent. … and get you a new kitchen that the rent will pay for.
Also so many improvements in the street make it nicer for everyone

Edited by heather902 at 8:37 pm, Fri 16 Jul

heather902 - 2021-07-16 20:34:00

heather902 wrote:

Depends what people are spending on, really though, so much on home improvements around here… there is good borrowing that can make a liveable space to return you rent. … and get you a new kitchen that the rent will pay for.

i was talking more about consumables as opposed to renovating which can add value.

lakeview3 - 2021-07-16 20:37:00

Twenty three years ago when we purchase this place. It was a section and relocated building. We had done a housing course through one of the Maori entities up here and were eligible for a low deposit loan. But... we had to have absolutely no other debt. It has basically stayed that way since. Still have a mortgage but that should be gone by the time I retire.

joanie04 - 2021-07-16 20:42:00

lakeview3 wrote:

True inflation is out of control, money printing will be stopping. People have and still are spending up a self gratification storm.

If the banks are stressing loans at 6% now then that will also have to go up as interest rates rise.

I hope this country trains more mental health practitioners because we are going to need them.

I don't know how many will cope when they get vaccinated and find it doesn't work for whatever variant is around should the border ever be fully opened again.

cassina1 - 2021-07-21 10:48:00

cassina1 wrote:

I don't know how many will cope when they get vaccinated and find it doesn't work for whatever variant is around should the border ever be fully opened again.

It won't matter as they'll be enjoying their improved 5G service.

sparkychap - 2021-07-21 11:27:00

csador wrote:

so what you are saying is that the banks are being more responsible?

How do you work that one out??

mrcat1 - 2021-07-26 11:17:00