“There will be tears” – Olly Newland says property investors are making the same mistakes they did before the 2008 downturn.
Olly Newland believes many property investors are making the same mistakes they did during the last surge in property values prior to the 2008 downturn.
The only difference between the current Auckland property boom and previous ones, was that this one had lasted longer than the others, the veteran property investor and consultant told interest.co.nz in a
“But we all know that one day it will slow down,” he warned.
“I’m not going to predict crashes or anything like that, but one day it will slow down and then there will be tears.
“People who have bought houses without getting independent advice and without checking what sort of structure it should go into for tax and so forth, they will be in tears one day because they’ve done it wrongly.
See the whole video interview here:
Landlords hit back at Reserve Bank crackdown
(the Barbarians are at the gate-take action sooner rather than later)
Friday Mar 6, 2015
Landlords have threatened to punish tenants by hiking rents if a tougher lending regime is ushered in by the Reserve Bank.
Landlords have hit back at Reserve Bank consultation on their sector, threatening to punish tenants by hiking rents if a tougher lending regime is ushered in.
Andrew King, NZ Property Investors Federation executive officer, said a harsher regime could have severe implications for more than 1 million tenants in over 453,000 rental households.
“Unnecessary risk weighting rules around rental properties will likely increase the cost of borrowing and push rental prices higher.
“Rental property loans are actually less risky than many of the loans taken out against homes to fund businesses,” Mr King said.
Read the rest here: