pcle wrote:

New CGT tax now also applies to the family home if not lived in for a year. The liars have been rather quiet about that change.

Not really, Grant Robinson was explaining that one on the TV / radio this morning.

sparkychap - 2021-03-24 10:18:00

sparkychap wrote:

Not really, Grant Robinson was explaining that one on the TV / radio this morning.

phew that’s a relief. Someone who stands by their word giving us reassurance.

pcle - 2021-03-24 10:36:00

sparkychap wrote:

Not really, Grant Robinson was explaining that one on the TV / radio this morning.

And the explanation was?

loose.unit8 - 2021-03-24 10:50:00

sparkychap wrote:

Not really, Grant Robinson was explaining that one on the TV / radio this morning.

Phew! Checking though, how definitive was he?

jaygee1962 - 2021-03-24 12:05:00

jaygee1962 wrote:

Phew! Checking though, how definitive was he?

ha!

pcle - 2021-03-24 12:07:00

jaygee1962 wrote:

Phew! Checking though, how definitive was he?

LOL

loose.unit8 - 2021-03-24 12:27:00

lakeview3 wrote:

I was earning $4.99 an hour working in a bakery in 1983 as a young teen and there were houses for sale here for less than $50K in 2000, so yeah good story.

1983 I was earning $500+ per week in forestry as a 22yr old.
Bought our first house a few yrs later at $80k.
Different region, different "story"
1 size does not fit all.

TRY harder.

smallwoods - 2021-03-24 12:54:00

jaygee1962 wrote:

Phew! Checking though, how definitive was he?

Was clear to me.

sparkychap - 2021-03-24 15:49:00

smallwoods wrote:

1983 I was earning $500+ per week in forestry as a 22yr old.
Bought our first house a few yrs later at $80k.
Different region, different "story"
1 size does not fit all.

TRY harder.

make your mind up

lakeview3 - 2021-03-24 16:54:00

All these posters I have never seen before......wow this policy bought a lot of people out!

lakeview3 - 2021-03-24 16:55:00

pcle wrote:

New CGT tax now also applies to the family home if not lived in for a year. The liars have been rather quiet about that change.

if it hasn’t been lived in for a year it ain’t a family home then is it?

lakeview3 - 2021-03-24 16:56:00

lythande1 wrote:

https://www.stuff.co.nz/life-style/homed/ho
using-affordability/124623421/firsthome-buyers-say-housing-p
olicy-changes-wont-help-soon-enough-while-experts-call-them-
a-mixed-bag

Landlord Matthew Ryan said the announcement was a mixed bag. “I don’t know that penalising investors is going to make things any easier for first-home buyers.”

Ryan, who has around 140 tenants in properties he owns, says the Government hadn’t come up with a solution to fix supply.

Him and others like him are part of the problem.
They pat themselves on the back saying oh but we provide rentals. But those rentals are homes first time buyers missed getting. So they have no choice but to rent.
Because everyone needs to sit back, owning 140 houses and live off it and not work, ay.

Thats why all this "property ladder" terminology instead of calling them homes now.

having 140 tenants, if he's managing it himself is a lot of work.

annie17111 - 2021-03-24 17:03:00

smallwoods wrote:

We have 16 acres of residential land here and leaving it bare.
No incentive to do anything with it.

The cost of doing it will send you bankrupt. Keeping it bare will pay your retirement. Them at the top are simply that dumb not to realize it. .

3tomany - 2021-03-24 19:43:00

lakeview3 wrote:

I agree the subdivision costs are ridiculous. Also the way some land is zoned. Local councils need a rocket up the ypu know where. Heard someone today saying they should have to spend at least 75% of their income (rates) on infrastructure and core services. There is seemingly no accountability from them, and essential infrastructure is old and neglected.

Yip but it is tax that will kill it. Who would have thought that to avoid tax you would just do nothing. Use to be hard work avoiding tax but now to avoid tax you simply land bank, minimum term ten years.

3tomany - 2021-03-24 19:47:00

lakeview3 wrote:

if it hasn’t been lived in for a year it ain’t a family home then is it?

However it will now need to be MT for ten years. With no profit from renting, this will now be a viable option.

3tomany - 2021-03-24 19:50:00

lakeview3 wrote:

All these posters I have never seen before......wow this policy bought a lot of people out!

...soooo,if you don't see them,they haven't been around..????

theguyz1 - 2021-03-24 19:51:00

3tomany wrote:

However it will now need to be MT for ten years. With no profit from renting, this will now be a viable option.

If you have a house, then buy another one and live in that for more than a year, that becomes your main home and the other one doesn't, whether you rent it out or not.

sparkychap - 2021-03-24 20:01:00

This message was deleted.

kittycatkin - 2021-03-24 20:03:00

This message was deleted.

kittycatkin - 2021-03-24 20:07:00

This message was deleted.

kittycatkin - 2021-03-24 20:13:00

This message was deleted.

kittycatkin - 2021-03-24 20:15:00

sparkychap wrote:

If you have a house, then buy another one and live in that for more than a year, that becomes your main home and the other one doesn't, whether you rent it out or not.

Good point

3tomany - 2021-03-24 20:19:00

Quite a few people seem to be living on Memory Lane in this thread.

apollo11 - 2021-03-24 20:19:00

kittycatkin wrote:

Don't bother, Smallwoods !

Do you wanna be in my gang, my gang, my gang?
Do you wanna be in my gang, oh yeah?
Do you wanna be in my gang, my gang, my gang?
Do you wanna be in my gang?
I'm the leader, I'm the leader, I'm the leader of the gang, I am

mazalinas - 2021-03-24 20:32:00

3tomany wrote:

The cost of doing it will send you bankrupt. Keeping it bare will pay your retirement. Them at the top are simply that dumb not to realize it. .

Really, so there are no subdivisions going on and no developers getting very rich buying land and subdividing.... (rhetorical question, of course there are).

sparkychap - 2021-03-24 20:40:00

mazalinas wrote:

Do you wanna be in my gang, my gang, my gang?
Do you wanna be in my gang, oh yeah?
Do you wanna be in my gang, my gang, my gang?
Do you wanna be in my gang?
I'm the leader, I'm the leader, I'm the leader of the gang, I am

Oh, come on...

sparkychap - 2021-03-24 20:41:00

sparkychap wrote:

Oh, come on...

Had to look that one up. Old people music.

Edited by apollo11 at 9:39 pm, Wed 24 Mar

apollo11 - 2021-03-24 21:37:00

apollo11 wrote:

Had to look that one up. Old people music.

Before my time also, but how can you not remember such eloquent lyrics as

"I can take you high as a kite every single night
I can make you jump out of bed, standing on my head"

sparkychap - 2021-03-24 21:51:00

sparkychap wrote:

Before my time also, but how can you not remember such eloquent lyrics as

"I can take you high as a kite every single night
I can make you jump out of bed, standing on my head"

That's got to be right up there with some of the group 'Bad News' less intelligible stuff.

apollo11 - 2021-03-24 22:15:00

lakeview3 wrote:

make your mind up

1983 is NOT 45 years ago, LOL
Pay attention.
45 years ago I was 15 and was working at a sawmill, married men were getting $2.55/hr and the boss was remonstrating me for something I had done and I was on $2.50, this was 1976.
7 years later I was doing civicultral forestry and earning between $100 and $150/day, I was 22 years old.
Bought our first house at 26 for $80k and on wages in forestry at $120/day.
Needed a wage job to get a loan then.
This was in Napier area, Bayview.

smallwoods - 2021-03-24 22:21:00

3tomany wrote:

The cost of doing it will send you bankrupt. Keeping it bare will pay your retirement. Them at the top are simply that dumb not to realize it. .

Why we haven't put a house on it.
the Govt will come knocking at some stage.
Will get an easy $2mill

smallwoods - 2021-03-24 22:23:00

apollo11 wrote:

That's got to be right up there with some of the group 'Bad News' less intelligible stuff.

I could play "Stairway To Heaven" when I was 12. Jimmy Page didn't actually write it until he was 22. I think that says quite a lot....

Edited by sparkychap at 10:24 pm, Wed 24 Mar

sparkychap - 2021-03-24 22:23:00

lakeview3 wrote:

you don’t say where it was, I was in Auckland in the early 90s and had 2 jobs, a full time one (sitting on my backside) and a part time one in a bar. I often had an hour before finishing one and starting the other. luckily the bar was across the road from my house so that helped reduce the travel time lol

I don’t know how people could do a physical job 40 hours a week and have a part time one also. They would be wrecked.

Areas were Kohi and Remuera I have always been very frugal with my budgeting and a hard worker. At that stage I was on the DPB but had saved $3,000 before that so enough for a deposit, used any extra time to learn more.

Edited by deboron at 7:16 am, Thu 25 Mar

deboron - 2021-03-25 07:10:00

BTW many of my friends were living the high life and had no interest in owning a house, many still don't. I takes hard work and missing out on lots to get ahead which is a choice I made.

deboron - 2021-03-25 07:19:00

theguyz1 wrote:

...soooo,if you don't see them,they haven't been around..????

They are rubber neckers LOL

deboron - 2021-03-25 07:39:00

I had thought that Govt had left the ability to claim mortgage interest on new developments ie ones that added to the housing stock, even it is by one. Buying an existing house does not add to the overall housing stock for renters and home owners.

If this is so then why would a prudent investor not buy for development or buy shares in a company that built houses instead of moaning about not being able to buy a secondhand house and claim the mortgage interest. I am sure Govt is not expecting a change to active development, that results in additional housing stock, to happen overnight but to set the levers so it is seen as a preferred option.

I am a LL (2) but with no mortgage interest to claim (for 5 or so years) and I must say the idea of developing new builds for rentals from scratch does appeal.

shanreagh - 2021-03-25 07:54:00

shanreagh wrote:

I am a LL (2) but with no mortgage interest to claim (for 5 or so years) and I must say the idea of developing new builds for rentals from scratch does appeal.

Same but I have a mortgage on one of my properties - not a rental. IMO It is a good thing that there are better incentives for new builds rather than investing in property on its own. Flippers are the issue and with them out of the equation there should be more properties available to renters so the price will drop.

We are all part of the same community and should be working together. I am sick of ghost houses around my neighbourhood (overseas investors) or constant building works then onsold (flippers).

deboron - 2021-03-26 07:09:00

smallwoods wrote:

1983 I was earning $500+ per week in forestry as a 22yr old.
Bought our first house a few yrs later at $80k.
Different region, different "story"
1 size does not fit all.

TRY harder.

I was a pay clerk for a big forestry company in 1983 so try the truth.

gabbysnana - 2021-03-26 08:10:00

gabbysnana wrote:

I was a pay clerk for a big forestry company in 1983 so try the truth.

What, for the same company?

apollo11 - 2021-03-26 08:36:00

gabbysnana wrote:

I was a pay clerk for a big forestry company in 1983 so try the truth.

Haha, I was a contractor (family).
Youngest brother started with us in Tolaga Bay doing scrub cutting.
An old timer said to him "a good contrator can pay off his saw in a week"
Brother turned around and said to him "it took me 3 days"

We were getting earnings then, that some only dreamed about up to around 10 years ago.

We worked hard and smart, and earned plenty.
Fletchers "head hunted" us to do this block.

We also got asked to plant a block for PF Oslen around then, just on our reputation, and they were more than happy to pay our price.
We were the third gang through to plant that block.
I went with the manager a few years back and watched it being logged.
Told him we had planted it and it made me feel old seeing it logged.

And yes, people like you who used to pay us would grizzle about our earnings, we lost some contracts because of your type having envy.
Mohaka forest was one were the manager wouldn't give us the rate, as we were earning more than him.

smallwoods - 2021-03-26 08:50:00

deboron wrote:

I takes hard work and missing out on lots to get ahead.

Nonsense just try Locanto

funkydunky - 2021-03-26 09:37:00

What we need is more rectangular houses. Should be quick and easy to build and cheap too.

tygertung - 2021-03-26 10:17:00

tygertung wrote:

What we need is more rectangular houses. Should be quick and easy to build and cheap too.

This is what we built in the 90's a 94 square meter rectangle fibro plank and iron roof house.... to be honest it would be considered sub standard nowadays... but that was all most people could afford then. with the high interest rates
Also a stand alone house of any description has the high cost of land value in Auckland.. so makes more sense to build up.

heather902 - 2021-03-26 10:21:00