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House Price Crash Forum

Te Mata

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Everything posted by Te Mata

  1. If Labour won a soonish election it would be the harbinger of an unspeakable financial catastrophe for Britain. As above, give them a term at least ffs.
  2. Across the ditch here in NZ prices are falling in most places, with record low sales: http://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=10686859
  3. For your amusement: http://www.moneymorning.com.au/20101115/aussie-house-price-crash-has-begun.html#more-4133
  4. WOOHOOO! You should send a thank you note to the muppets in Dubai.
  5. FWIW, the index futures are open with the SP500 down about 2%. Shares won't be in the black, that's for sure.
  6. So have had the interview and the sales manager likes me and is taking me to see the big knob for the area.But it's a bit different to the UK. You are essentially a sub-contractor with your own business name and GST(VAT) registration etc.Unlike the UK, reps here have to obtain a license... about a week or two worth of work in total . The laws are in the process of changing and later this year people will have to do a 3 month full time course. I liked the sales manager I spoke to... cool guy whom I had a lot in common with (both horse racing tragics). Different attitude altogether with regards to overpricing... "We just tell them to f$ck off if they want too much".
  7. If you want to profit from a vega blast you should go close to, or at the money longer dated options. That's where your maximum vega is. WOTM vega is minimal. BTW, you'll only get the vega blast if the market tanks.
  8. That wouldn't surprise me... will find out for sure soon enough. Overall however, NZ seems less affected by the GFC than UK, but that's just an impression at this stage.
  9. I haven't really gone into it that deeply here yet. I'd say the cheap end suburbs probably a little bit more affordable (in the are a I'm in anyway [Hawkes Bay]), but middle and upper seem to be on as ludicrous multiples as Blighty.
  10. I've only been here 3 weeks but it is interesting the diversion between the VIs and the folk. The national and local papers have been talking up property... it's recovering etc. But the people I've spoken to all expect values to get trashed further. People are pretty pessimistic TBH (Small sample size however).
  11. I've just pissed off from the UK and have settled in New Zealand. I've made a living trading options for several years now, but bored sh1tless as I only have to tinker my positions every once in a while. So I thought I'd start some sort of small business to meet people. But I heard an ad on the radio that the local estate agent is looking for a rep. I'm going for an interview today. I thought it would be quite amusing for a bear to be an estate agent and keep you all updated about the market over here (plus make a few $ ). Don't hate me.
  12. My bags, literally, are packed. I'm staying with rellies and pissing off to NZ in 4 weeks time. Did my time in Oz... just, no. I love England, but I feckin hate the UK. Good luck, I hope Cameron et al sorts it out. It deserves to be a wonderful place (and still is in many respects).
  13. It doesn't matter which country, the Labour Movement (more like a bowel movement actually) always does the same. Fairness and social justice? They may talk the talk, but they never walk the walk.
  14. They have always seemed somewhat delusional. But I now think they are actually certifiable. The socialist mindset is not healthy IMO.
  15. I often think Poxman takes an unintelligent line in his interviewing, but undoubtedly good at applying the blowtorch to the cretinous pollies. Last night he was spot on. Milliband looked like the pathetic amateur he is.
  16. That means they owe about £85,000 per house. Seems like fuzzy maths to me. Something doesn't add up there.
  17. Yep the Labour swill is history. But likening of kiwi women to Helen Clarke is a bit like likening all Pommy women to the mingers in parliament here.... hmmmm you might have a point.
  18. VIDEO Well you could knock me over with a feather. As Kiwi VIs try to ramp house prices, John Keys, NZ prime minister thinks it wouldn't be a good thing for house prices to rise quickly and floats a few ways to prevent it. Amazed that a politician apparently has a brain!
  19. I know that Bardon, but outside of new projects and despite huge stimulus in China and Oz (which has worked to a point), the cracks are still showing according to people on the ground. There will come a point where Oz can pick itself up post stimulus and carry on in boom mode, or the worldwide stimulus fails and Oz falls. TBH I don't know which it will be, but resources are certainly a huge plus... unfortunately the only egg in the basket. BTW I wouldn't say Gero is close to my heart. Just happened to have lived there a couple of years, and have a lot of contacts through missus' family. I have no intention of ever going back there. Property is a one way bet with little opportunity to hedge and enormous transaction costs. A good buy at value, but I still don't see value unless; I become convinced inflation will become a huge problem. I just don't see that... yet.
  20. Geraldton (pop 33,000) has apparently been decimated. Mass lay-off at Golden Grove and Iluka, with Iluka threatening to close All midwest ops if things don't improve. Heavy Machine hire yards are chockers (i.e. no work) and apparently there are 3000 miners looking for work. Rents are collapsing. Friends in NZ say that Kiwis are returning home in droves after being laid off at the mines. That's from people on the ground and not in any lollipop report.
  21. I used to live in a place called Geraldton Western Australia, which is a mining port and prime beneficiary of the minerals boom. I left in 2007 and the people there thought the boom would never end, despite the deeply cyclical fortunes of the town in the past. Only on mining exec I knew saw the end - giving it about 12 months before it started to fallover. He and I, of course, were scoffed. Folks were coughing up big money for houses and big ticket consumer items. Was on the phone to an old friend a couple of days ago who reckons there are now 3000 out of work miners (works for the welfare agency there) now, out of a town of 33,000... and that's just the miners. Confirmed by a conversation I had on an Aussie trading forum today: Followed of course by the usual denial... al is well in Oz.
  22. Half of the Lib Dem membership will of course will be elated at that prospect. The other half will quit. It will decimate the Lib Dem vote in the long term.
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