There’s nothing new about this practice which just means that instead of raising a mortgage on a property that you are buying in order to pay the seller, you get the money by raising it on a property that you already own unencumbered.

People starting or expanding businesses have often done this as home loan interest rates are much more favourable than other loan forms.  Here, however, the targets are retirees who are asset rich from their property(ies), but cash poor.

If you’ve not visited it, the Support Hub entrance is in the north-east corner of the Mahara Place quadrangle.

One of the two main appliances based at Waikanae, a 2012 Iveco Eurocargo ML120E25 — several more pics

Giving a near perfect reflection — another great Conrad Labone photo.

Guy Burns, Deputy Chair of the Raumati Paraparaumu Community Board, is concerned that the Kapiti Coast District Council is planning to use borrowing to pursue investments in the open financial marketplace.

“I’m concerned loans of up to $30 million dollars will be used to invest in financial markets in the optimistic hope of some return. With KCDC debt levels running at record highs, such investment has the potential to create further debt for ratepayers and higher costs in the long-run.

“Approval for the establishment of two investment funds, to be initially funded by borrowing, was slipped into the recently approved Long Term Plan without public consultation and with very little background briefing information being provided to Councillors.

“I asked Councillors at the Operations and Finance Committee of 16 August 2018 [where a 32-page document advocating this was presented by council staff], if they have fully considered the risk to ratepayers if financial markets crashed. I hope Council will not proceed further with the establishment of the two investment funds.

“At a time when ratepayers are tightening their belts to meet skyrocketing rates bills and increasing living costs, it is disturbing Council is proposing to take risks on the financial market, by borrowing even more money on behalf of ratepayers. It is like a debt-ridden household increasing its mortgage to gamble on speculative markets.

“Back in the mid-1980s, many New Zealanders borrowed to invest in financial markets only to be badly burned by the 1987 share market crash. The world economy is facing uncertain times, domestic business confidence is faltering, and all investments carry risk. I would hate to see the KCDC going down a similar path”.

“KCDC should stick to the provision of core services and reject using further borrowing to carry out risky investments.”

beef

lamb

mutton

venison

pork

ham

bacon

chicken

turkey

ostrich

duck

rabbit

kangaroo

fish

shellfish

crocodile meat

snakemeat

cow’s milk

goat’s milk

eggs

If that appeals, then veganism is for you!   The show runs from 10 am to 4 pm, gate tickets $6

Chlorine is added where a river is the source of drinking water as the catchment area may have creatures that spread giardia, but a simple carbon filter will remove it from drinking water, see an earlier post.

Christchurch plumbers and property managers are worried about the surge in failing hot water cylinders, and many blame the city’s chlorination regime.

The controversial chemical, which has been added to drinking water since March, may have led to leaks in pipes and cylinders, leaving landlords with a $2,000 replacement bill [that figure is conservative, we know from our own experience. — Eds].

A large number of plumbing faults have been reported by four separate property management firms, while one manufacturer says demand for new cylinders has doubled.

full article on the stuff website

Much the same as the summer view except that the deciduous trees aren’t in leaf.