interest rates won’t go anywhere for a long time other wise...

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Bullet 21

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11/09/20

20:58

Post #: 47282392
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Originally posted by Malzo: ↑

Just off topic I read this is another business blog...maybe the housing crash will affect all shares...might be time to cash a few in I think..IMO

I spoke to a RE agent in Melb yesterdayHe told me their property division is going hard on tenants Tenants can’t be evictedTenants just stop paying or pay halfLandlord tries to get into VCAT next April but told VCAT is booked until 2022The tenant will be gone into another empty apartmentThis guy is in sales but he told me his head of property management in a large Melb bayside suburb said wait 6 months vacancies will go through the roofHe also told me has has 10’s of owners need to sell but there is no marketI asked are they investors he said no all OO lost their jobs. salary reduced by 30% extra no bonusI said if they really wanted to sell where us the market and he said I’d have to tell the owner they’ll have to reduce by 20% to even get a buyer It was interesting what he asked me …. he was a mortgage broker before RE and he said on 2.5% to 3% what are they working serviceability on I said I thought interest rate 1.5% so 4% at worstHe agreed with me that rates would go to 4% too, so servicing would be 5.5%So he asked on a million now what does that reduce to I said $700kHe said fck….Also I said LVRS would be max 80% nearly everywhere It’s very easy for prices to fall 30% This is what happens when banks allow servicing in 4s they just go back to 7% very quickly It’s a debacle and it really doesn’t take much for a 30% across the board fallNow that’s being conservative I told him prepare yourself what I think ……I said I think we will see 1980s interest rates in teens He said we may as well just dive under our deskAlso what he said since March there are defaults people losing deposits buy then cant settle because their place failed settlement…..no one now will buy before selling and probably no AUCTION market this year in Melb … the owner felt anything from this spring will go on the market Q1 2021Put your crash helmet on and I won’t tell you the suburb but we both agreed it would be wise to park the soup van in church streetHe also said that the Porsche Cayenne , Merc etc are all on lease ….Ouch

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interest rates won’t go anywhere for a long time other wise people will walk away like they did in the 90 s interest rates will be low for a long time as the Dutch bank is offering 1.-.71 percent for ten years fixed that’s saying some thing

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interest rates won’t go anywhere for a long time other wise...

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Air New Zealand ditches 2030 emissions targets – right as ASIC's Scope 3 reporting changes kick in for FY25

Super PITch gold sponsor RSM Australia: Can Diggers & Dealers 2024 be key to reinvigorating IPO activity?

Mineral Hill transition kicks off for Kingston, gold and silver ramp up to follow

NRW Holdings voted Wealth Within's hot stock tip

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interest rates won’t go anywhere for a long time other wise...

Top Stories

Mantle Minerals' Nick Poll talks to HotCopper on finding gold grades up to 3.57g/t at Mt Berghaus

Air New Zealand ditches 2030 emissions targets – right as ASIC's Scope 3 reporting changes kick in for FY25

Super PITch gold sponsor RSM Australia: Can Diggers & Dealers 2024 be key to reinvigorating IPO activity?

Mineral Hill transition kicks off for Kingston, gold and silver ramp up to follow

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