| 1 | There is a growing number of people being locked out of the property market – and what that means in the long term https://thespinoff.co.nz/society/the-side-eye/04-08-2021/the
-side-eyes-two-new-zealands-locked-out/ tohwe - 2021-08-07 01:11:00 |
| 2 | Tragic reading and so true. Shame on all the people in power who allowed it to get like this. Shame on all the smug people who don’t care. lakeview3 - 2021-08-07 06:38:00 |
| 3 | If only there was a free market. If only innovation was allowed. But no. pcle - 2021-08-07 07:24:00 |
| 4 | The first lady in the article could buy a house in Featherston for under $725,000 and then commute for work on the train like so many other people do. annie17111 - 2021-08-07 07:55:00 |
| 5 | annie17111 wrote:
The first lady in the article could buy a house in Featherston for under $725,000 and then commute for work on the train like so many other people do. are you kidding? 725K? What a bargain - NOT. I cannot believe you even try and make that scenario sound ok. The fact you did proves just how F’ed up this country is. Edited by lakeview3 at 8:03 am, Sat 7 Aug lakeview3 - 2021-08-07 08:02:00 |
| 6 | lakeview3 wrote:
are you kidding? 725K? What a bargain - NOT. I cannot believe you even try and make that scenario sound ok. The fact you did proves just how F’ed up this country is. I think the point Annie was trying to make is that this lady obviously has up to 725k to spend and that there are areas that she can look in that have houses well below that threshhold if she doesn't mind commuting. I guess that will be the scenario for many. |
| 7 | Wages are the problem in this country, it is a low wage economy, now is the time for you to strike for more wages. Stop immigration, interest rises, everything will settle down. Without wage increase your lost. Best bet is to go to Aussie, they will have ya. Each to their own. msigg - 2021-08-07 08:20:00 |
| 8 | People need to get used to commuting, I used to spend 3 - 3.5 hours a day getting to and from work by train, by car it was just impossible. The one thing it did do was allow me to earn a sufficiently high salary to enjoy my time (little as it was) at home. Oh dear seeing your cold breath inside the house, cry me a river, that is what we all put up with. Too many people now are all want and very little do, not earning enough, get another job, move up the ladder, but do something to get to where you want to be, sure it wont be easy for a while maybe 10 years, but once there then life can become much better. kenw1 - 2021-08-07 08:21:00 |
| 9 | supersapper wrote:
I think the point Annie was trying to make is that this lady obviously has up to 725k to spend and that there are areas that she can look in that have houses well below that threshhold if she doesn't mind commuting. I guess that will be the scenario for many. This mythical woman could start with an apartment or as Annie says commute. artemis - 2021-08-07 08:29:00 |
| 10 | kenw1 wrote:
...Oh dear seeing your cold breath inside the house, cry me a river, that is what we all put up with.... There's these newfangled things called heaters. artemis - 2021-08-07 08:32:00 |
| 11 | lakeview3 wrote:
Shame on all the smug people who don’t care. Gosh, you must be fun at parties. Or do you just hate people who have more than you? mulch_king - 2021-08-07 08:32:00 |
| 12 | supersapper wrote:
I think the point Annie was trying to make is that this lady obviously has up to 725k to spend and that there are areas that she can look in that have houses well below that threshhold if she doesn't mind commuting. I guess that will be the scenario for many. "if she doesn't mind commuting" - absolutely and I know people that do this trip daily, but I also know some who find it grinding - over 3 hours plus each day along with the $ 5,400 annual cost. Mind you, you might also be able to buy something half decent for well less than 725K.... sparkychap - 2021-08-07 08:36:00 |
| 13 | lakeview3 wrote:
Tragic reading and so true. Shame on all the people in power who allowed it to get like this. Shame on all the smug people who don’t care. Smug people who do or don't care, don't change the situation one iota. heather902 - 2021-08-07 08:42:00 |
| 14 | mulch_king wrote:
Gosh, you must be fun at parties. Or do you just hate people who have more than you? why don’t you stick to the topic. Also you don’t know how much I have. Maybe I have more than you. Maybe I actually care about other people having some hope for their future? There’s a radical concept. lakeview3 - 2021-08-07 09:02:00 |
| 15 | heather902 wrote:
Smug people who do or don't care, don't change the situation one iota. smug is smug whichever way you try and dress it up. It’s not hard to disguise. lakeview3 - 2021-08-07 09:03:00 |
| 16 | lakeview3 wrote:
why don’t you stick to the topic. Also you don’t know how much I have. Maybe I have more than you. Maybe I actually care about other people having some hope for their future? There’s a radical concept. Ok then. mulch_king - 2021-08-07 09:04:00 |
| 17 | artemis wrote:
This mythical woman could start with an apartment or as Annie says commute. what an apartment then needs earthquake strengthening and has unaffordable body Corp fees? Why don’t all the inner city people who don’t work move out of town? Or better still, why don’t they move into the apartments? lakeview3 - 2021-08-07 09:04:00 |
| 18 | lakeview3 wrote:
smug is smug whichever way you try and dress it up. It’s not hard to disguise. and how does it matter? I am very pleased to be a home owner. I therefore pass on an attitude to my kids how beneficial it would be to them. Two have now purchased, the 3rd will when her partner gets residency in NZ. heather902 - 2021-08-07 09:26:00 |
| 19 | artemis wrote:
There's these newfangled things called heaters. Wasn't a lot of point heating the house, we still holes in the slate roof from people trying to drop their scrap metal and explosive onto us. kenw1 - 2021-08-07 09:41:00 |
| 20 | heather902 wrote:
and how does it matter? I am very pleased to be a home owner. I therefore pass on an attitude to my kids how beneficial it would be to them. Two have now purchased, the 3rd will when her partner gets residency in NZ. I am sure it matters to all those people who are still at school who will probably find out soon that unless they have an 600k loan, they may as well sleep in a tent. lakeview3 - 2021-08-07 09:58:00 |
| 21 | lakeview3 wrote:
I am sure it matters to all those people who are still at school who will probably find out soon that unless they have an 600k loan, they may as well sleep in a tent.
always look on the bright side of life... heather902 - 2021-08-07 10:26:00 |
| 22 | heather902 wrote:
always look on the bright side of life... what’s the point? I used to, but I am over it. It doesn’t matter how positive one is, they can only handle being whacked over and over so many times before they stop getting up. Look around, it’s happening everywhere. lakeview3 - 2021-08-07 11:14:00 |
| 23 | lakeview3 wrote:
what’s the point? I used to, but I am over it. It doesn’t matter how positive one is, they can only handle being whacked over and over so many times before they stop getting up. Look around, it’s happening everywhere. well you are entitled to feel the way you feel, I feel a little more positive in that I expect things to shift over the next 5 years, the measures put in place to discourage investors will eventually put the brakes on. and interest rates will rise, if you can only borrow so much you can only pay so much.
AS for this article, it deliberately creates a picture of two halves.
Rather than taking a deeper look into whats holding many back, which is really rather boring reading. Too many kids too young, too much debt. relationship instability etc etc
As for the women in that article, why doesn't she find a like minded person and house share for a few years> ITs always been somewhat difficult for a single person to enter the housing market on their own. heather902 - 2021-08-07 11:36:00 |
| 24 | With the past years of historically low interest rates and incomes being on the upward trend anybody who has not got it together enough to start buying a house probably never will. Sad fact of life. You have to decide what you want and then go out and MAKE it work. kenw1 - 2021-08-07 11:38:00 |
| 25 | kenw1 wrote:
With the past years of historically low interest rates and incomes being on the upward trend anybody who has not got it together enough to start buying a house probably never will. Sad fact of life. You have to decide what you want and then go out and MAKE it work. I will tell my 16 year old that. Just plain lazy, he should have got off his backside 5 years ago. Shame. On. Him. ???? lakeview3 - 2021-08-07 11:45:00 |
| 26 | My 17 yr old niece just got her first job, her first pay check was over $900 in the hand. If she stays at home and saves as much as she can, then I can see her being able to buy a house in a few years. It's not impossible.
I currently travel 1.4km to work but if things change and I have to travel longer to earn money then the payoff is worth it. I'm going to encourage my kids to stay at home as long as possible and save their money. annie17111 - 2021-08-07 11:52:00 |
| 27 | lakeview3 wrote:
I will tell my 16 year old that. Just plain lazy, he should have got off his backside 5 years ago. Shame. On. Him. ???? At 16, I had had about 3 or 4 jobs.
Paper run (9-10), berry picking (10-13) (upgraded to Strawberry's as I was a good picker),tree planting (14-15), shearing shed (15-16).
First 3 were on contract, the harder you worked, the more you earnt.
Tree planting, over 1000/day, would earn $60-100/day, now $200-300/day.
That was 45 years ago. smallwoods - 2021-08-07 12:10:00 |
| 28 | annie17111 wrote:
My 17 yr old niece just got her first job, her first pay check was over $900 in the hand. If she stays at home and saves as much as she can, then I can see her being able to buy a house in a few years. It's not impossible.
I currently travel 1.4km to work but if things change and I have to travel longer to earn money then the payoff is worth it. I'm going to encourage my kids to stay at home as long as possible and save their money. We did allow them to stay home and save, BUT we charged board.
Which was deposited in an account and put towards their deposit. smallwoods - 2021-08-07 12:12:00 |
| 29 | annie17111 wrote:
My 17 yr old niece just got her first job, her first pay check was over $900 in the hand. If she stays at home and saves as much as she can, then I can see her being able to buy a house in a few years. It's not impossible.
I currently travel 1.4km to work but if things change and I have to travel longer to earn money then the payoff is worth it. I'm going to encourage my kids to stay at home as long as possible and save their money. I was talking to younger person the other day early 20's and this topic came up, I was astounded when they told me that they had got their first rental property and it was now tenanted. So some people do it. kenw1 - 2021-08-07 13:30:00 |
| 30 | smallwoods wrote:
At 16, I had had about 3 or 4 jobs.
Paper run (9-10), berry picking (10-13) (upgraded to Strawberry's as I was a good picker),tree planting (14-15), shearing shed (15-16).
First 3 were on contract, the harder you worked, the more you earnt.
Tree planting, over 1000/day, would earn $60-100/day, now $200-300/day.
That was 45 years ago. Shhhh this involves a 4 letter word. kenw1 - 2021-08-07 13:31:00 |
| 31 | smallwoods wrote:
At 16, I had had about 3 or 4 jobs.
Paper run (9-10), berry picking (10-13) (upgraded to Strawberry's as I was a good picker),tree planting (14-15), shearing shed (15-16).
First 3 were on contract, the harder you worked, the more you earnt.
Tree planting, over 1000/day, would earn $60-100/day, now $200-300/day.
That was 45 years ago. so what, nothing has changed…..I had my first job at 14 (or 11 if you count a pamphlet run)a and at 16 was still at school whilst working 2 nights a week and 1 or 2 days at the weekend in a hotel. My son only works irregular part time hours at the moment because this year is his most important at school grades wise if he wants to go to University (which he does, but I am not so sure now). He is very academic maths/science wise so I would be a fool not to allow him to explore that further and try and get a good career. My point being is your argument about your kids doesn’t apply because they have already grown up, just in the nick of time to take advantage of the housing market before it really went even madder than it was. Good on you and them but that doesn’t help anyone else who is younger. I guess the inheritance helped also. I am sure if I ever get one it would put me in a more favourable position, but at least I will acknowledge that will be the reason. Edited by lakeview3 at 2:08 pm, Sat 7 Aug lakeview3 - 2021-08-07 14:06:00 |
| 32 | heather902 wrote:
and how does it matter? I am very pleased to be a home owner. I therefore pass on an attitude to my kids how beneficial it would be to them. Two have now purchased, the 3rd will when her partner gets residency in NZ. Pass on an attitude or just pass on equity, money and privilege? tohwe - 2021-08-07 17:31:00 |
| 33 | You make out of this world what you perceive it to be.
Cup half full or empty? Henry Ford once said "If you think you can or can't, you are right!" smallwoods - 2021-08-07 17:37:00 |
| 34 | smallwoods wrote:
At 16, I had had about 3 or 4 jobs.
Paper run (9-10), berry picking (10-13) (upgraded to Strawberry's as I was a good picker),tree planting (14-15), shearing shed (15-16).
First 3 were on contract, the harder you worked, the more you earnt.
Tree planting, over 1000/day, would earn $60-100/day, now $200-300/day.
That was 45 years ago. Moral of the story, tree planters could afford a house 45 years ago? tohwe - 2021-08-07 17:39:00 |
| 35 | smallwoods wrote:
You make out of this world what you perceive it to be.
Cup half full or empty? Henry Ford once said "If you think you can or can't, you are right!" guess it depends whether you have a cup when you are born or not. lakeview3 - 2021-08-07 18:09:00 |
| 36 | tohwe wrote:
Moral of the story, tree planters could afford a house 45 years ago? so could bartenders. I worked with several who owned houses and were the breadwinner for their families. lakeview3 - 2021-08-07 18:10:00 |
| 37 | annie17111 wrote:
The first lady in the article could buy a house in Featherston for under $725,000 and then commute for work on the train like so many other people do.
Hilarious.
That these sort of figures are stated shows the problem.
My son earned good money, but with rent, his divorce, child support, he could not save for a deposit.
Even with 2, how long does it take?
20% of $700,000 is $140,000. if you were lucky enough to be able to save $400 a week it still takes 6 years. meanwhile the price keeps climbing so you are are going backwards even then. And who could save that much....
Not him.
Lucky I sold him my mortgage. And he now has a home.
The market value of it has jumped heaps in the 3 years he has owned it...rents are climbing too, we're 15=3th most expensive in the world now according to a study published today....places above us are Hong KOng, Singapore, UAE and so on... lythande1 - 2021-08-07 18:44:00 |
| 38 | lythande1 wrote:
Hilarious.
That these sort of figures are stated shows the problem.
My son earned good money, but with rent, his divorce, child support, he could not save for a deposit.
Even with 2, how long does it take?
20% of $700,000 is $140,000. if you were lucky enough to be able to save $400 a week it still takes 6 years. meanwhile the price keeps climbing so you are are going backwards even then. And who could save that much....
Not him.
Lucky I sold him my mortgage. And he now has a home.
The market value of it has jumped heaps in the 3 years he has owned it...rents are climbing too, we're 15=3th most expensive in the world now according to a study published today....places above us are Hong KOng, Singapore, UAE and so on... She said she offered 725,000 for a house and missed out, so she must have a deposit saved. If your son was still with his wife would he had more luck saving for a deposit and buying a house? annie17111 - 2021-08-07 19:21:00 |
| 39 | lythande1 wrote:
My son earned good money, but with rent, his divorce, child support, he could not save for a deposit.
And there is another of the biggest problems. The amount of younger couples who split, neither with enough to purchase a home so have to rent.As you say the child support bills, the rent....makes it very hard for them to get on the ladder.
More rentals also needed and if they have kids, both want a home big enough for them to have the kids with them..... more pressure on rentals, demand exceeds supply, prices rise. maddie44 - 2021-08-07 19:25:00 |
| 40 | maddie44 wrote:
And there is another of the biggest problems. The amount of younger couples who split, neither with enough to purchase a home so have to rent.As you say the child support bills, the rent....makes it very hard for them to get on the ladder.
More rentals also needed and if they have kids, both want a home big enough for them to have the kids with them..... more pressure on rentals, demand exceeds supply, prices rise. This is why it is so pointless comparing housing affordability with generations who typically did buy houses before starting a family, who perhaps stayed together more often till kids were older regardless… not saying people should but it’s unrealistic to think you can restart home ownership as single later in life.
And personally I think three years is realistic in today’s market to save a deposit for two people . Live on one salary save the other. We could easily save a house deposit in Auckland in 3 years Edited by heather902 at 7:34 pm, Sat 7 Aug heather902 - 2021-08-07 19:34:00 |
| 41 | maddie44 wrote:
And there is another of the biggest problems. The amount of younger couples who split, neither with enough to purchase a home so have to rent.As you say the child support bills, the rent....makes it very hard for them to get on the ladder.
More rentals also needed and if they have kids, both want a home big enough for them to have the kids with them..... more pressure on rentals, demand exceeds supply, prices rise. you don’t think financial strain could be the reason why some split? Could happen to anyone….. lakeview3 - 2021-08-07 19:41:00 |
| 42 | heather902 wrote:
We could easily save a house deposit in Auckland in 3 years could you? What year was this and how much rent were you paying at the time? lakeview3 - 2021-08-07 19:42:00 |
| 43 | heather902 wrote:
Live on one salary save the other. We could easily save a house deposit in Auckland in 3 years Problem with that though is that for those on lower incomes their rent chews through one entire income.
But that also brings up something else...many of those who are counted as being locked out now would possibly never have been able to , two people on low wage with a handful of kids - impossible. maddie44 - 2021-08-07 19:43:00 |
| 44 | lakeview3 wrote:
you don’t think financial strain could be the reason why some split? Could happen to anyone….. It could well be, regardless of the cause, it is a factor in the equation. maddie44 - 2021-08-07 19:44:00 |
| 45 | lakeview3 wrote:
what an apartment then needs earthquake strengthening and has unaffordable body Corp fees? Why don’t all the inner city people who don’t work move out of town? Or better still, why don’t they move into the apartments?
Why should they? I've worked my butt off over the years to own a home. My first (starter) was an apartment and they would have to drag my cold dead body into one before I'd repeat that experience.
People need to lower their expectations a bit. There are quite a few stories about people that have bought their own homes, but they never seem to make it on here.
I get heartily sick of my generation being slammed for being "greedy". I worked in blue collar minimum pay jobs, walked to work to save travel payments and paid something like 20% mortgage interest payments at one stage. When my washing machine and oven died at the same time, I washed stuff in the bath for six months and cooked in the electric frypan and microwave till I could replace both. I didn't want and still don't have an ensuite . People have to make compromises when they are younger and they will get there. Whether it's facing a long commute, sharing their home or settling for a unit for a start. hound31 - 2021-08-07 19:51:00 |
| 46 | lakeview3 wrote:
could you? What year was this and how much rent were you paying at the time? I imagine this year and we would pay about $550-600 and get in two boarders heather902 - 2021-08-07 19:52:00 |
| 47 | tohwe wrote:
Pass on an attitude or just pass on equity, money and privilege? Seeing as we are average NZ’s it’s definitely an attitude we don’t have money or privileges your average worker doesn’t have and in fact we have the added privilege of caring for a disabled Adult full time unpaid. heather902 - 2021-08-07 19:57:00 |
| 48 | hound31 wrote:
Why should they? I've worked my butt off over the years to own a home. My first (starter) was an apartment and they would have to drag my cold dead body into one before I'd repeat that experience.
People need to lower their expectations a bit. There are quite a few stories about people that have bought their own homes, but they never seem to make it on here.
I get heartily sick of my generation being slammed for being "greedy". I worked in blue collar minimum pay jobs, walked to work to save travel payments and paid something like 20% mortgage interest payments at one stage. When my washing machine and oven died at the same time, I washed stuff in the bath for six months and cooked in the electric frypan and microwave till I could replace both. I didn't want and still don't have an ensuite . People have to make compromises when they are younger and they will get there. Whether it's facing a long commute, sharing their home or settling for a unit for a start. Well said. I still live in my first home. Through hard work we were mortgage free by 35 but never felt the inclination to move and have a mortgage again. It isn't a house it is my home, the place I brought my kids up in, where all our memories are and I don't see why I should have to sell and downsize to appease someone just a few years younger than me who wants to blame the entire housing problem on my generation. maddie44 - 2021-08-07 20:02:00 |
| 49 | lakeview3 wrote:
guess it depends whether you have a cup when you are born or not. Definitely not me, being born with a cup.
Most of my childhood was abuse and trauma.
You just learn to dust yourself off and reset your goals. smallwoods - 2021-08-07 20:08:00 |
| 50 | Don't blame the investors who are, after all, building most of the new housing under very difficult conditions.
Blame the Resource Management Act which has become a gravy train for tens of thousands of overpaid bureaucrats in councils, government departments and related parasitic industries.
Blame the planning and building consent processes which make building houses in NZ among the most expensive in the world.
And blame the politicians of all parties who know what the problems are but don't have the guts to do anything about it. |
