Negative interest rates , what if ?

[Sam K.]

This is a hypothetical question at this point, but could not find precedence or a loan calculator which could help me as most calculators out on the web presume a positive number for interest rates. However, the way the central banks are going around the world, negative interest rates could be here in a while. As I am writing this some countries in Europe ( I believe Denmark for example) already has negative interest rates for mortgages taken out, not just the fed rate.

So first the practical question:

Anyone have a pointer to a tool which can calculate amortization tables with a negative interest rate . I'm sure I could probably put one together in Excel but I"m sure that road has been traveled on before m.

And the hypothetical questions up for discussion:

- What is the best strategy if one expects negative interest rates to be here in the next 1-3 years ? 

- Impact on real estate prices ? or other assets for that matter..

- Inflationary or deflationary effect in the intermediate to long term ? What happens to the value of money ?

- Impact on credit availability ?

Feel free to add questions of your own. I realize this is a hypothetical question which on the surface is unthinkable, but simply want to play out the what/if conversation with fellow investors....Any and all input welcome !

--Sam