My mind is divided on regulation. Personally I like to have freedom
with my money and invest it as I see fit. The other side of the coin is
that most people are incompetent with their money - attested by the
number of quick finance companies around - 20% interest isn't bad is it?
Who here has enrolled into KiwiSaver? I'm going to be retired long
before 65 but the fact that the govt also contributes makes it such a
good long term investment I just can't say no. For me investing in
KiwiSaver works out to be much better than paying off debt - which
doesn't seem right somehow.
Alister Christie
Computers for People
Ph: 04 471 1849 Fax: 04 471 1266
http://www.salespartner.co.nz
PO Box 13085
Johnsonville
Wellington
Robert martin wrote:
Agreed that there are issues. However all that much really. Changes
in situation are handled as badly / well as the current interest rate
changes. Personally I would rather have it that when my repayments
went up I actually got some benefits from it!
Re people re locking after there fixed term expires, so be it. The
issue is to reduce peoples money now rather than in two years time
(the OCRs effect). Yesterdays rate rise wont effect 50% of the
mortgage population for 1.5 - 2 yrs, by that time the economy may be
quite different.
The current OCR system is a much blunter instrument (sledge hammer)
than my suggestion.
It is a suggestion and one that will go nowhere as the experts have a
vested interest to not make it a workable system. I am sure that this
or something similar could be developed by economists that would work
nicely alongside the OCR.
Rob Martin
Software Engineer
phone +64 03 377 0495
fax +64 03 377 0496
web www.chreos.com
Wild Software Ltd
[EMAIL PROTECTED] wrote:
It would be a minefield to try to regulate an individual's debt/equity
ratios like that.
Agreed. Quite apart from possible rorting, you get in a mess of
regulatory trouble to cope with real life needs, such as a change in
financial situation requiring an interest-only holiday, or whatever.
Sledgehammers are for nuts.
cheers,
peter
===========================================
Peter Hyde, Development Director
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