Thread: Component shortage

Originally Posted by veitnamcam

Thats about to change big time......lets hope we dont see a lot of new home owners in negative equity in the near future .

I think you are correct, especially as NZ'ers seem to like operating their lives generally on credit rather than Pay as you go. A lot of people seem to have their house regularly revalued (always goes up ) so that they can further extend their borrowing to have all the finer things in life.

When that is combined with people mortgaging themselves right up the WaZoo just to get a place then doing the above every few years its a reciepe for a hard fall later when eventually the Piper needs repayment.
My folks taught me the only thing you borrow for is the house so I amrather "old school". I get a lot of shit from mates cause I won't buy anything unless I can pay cash in full and upfront. While it has bitten me badly once doing this (and you know who you are!!) at least I sleep every night with out worrying about repayments and such.

Sadly I think if interest rates go up a few percent when combined with cost of living and Covid, the end results on peoples lives/lifestyles are going to smart a bit for a while