Housing In NZ
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|---|---|
| 201 | sparkychap wrote:
Yes, crazy mkr_ahearn - 2021-04-18 10:11:00 |
| 202 | The ponzi scheme is the fiat currency. pcle - 2021-04-18 10:16:00 |
| 203 | pcle wrote: rubbish - the value of those “real assets” is created by that same fiat currency - fractional reserve banking etc. Edited by sparkychap at 10:21 am, Sun 18 Apr sparkychap - 2021-04-18 10:21:00 |
| 204 | pcle wrote: totally, imagine if they took house prices into their inflation calculations That would throw the whole ‘narrative’ out wouldn’t it? Never mind, so far the propaganda is working.... lakeview3 - 2021-04-18 10:28:00 |
| 205 | This message was deleted. kittycatkin - 2021-04-18 11:43:00 |
| 206 | This message was deleted. kittycatkin - 2021-04-18 11:51:00 |
| 207 | This message was deleted. kittycatkin - 2021-04-18 11:58:00 |
| 208 | lakeview3 wrote: they do - they take the cost of buying a house into consideration. sparkychap - 2021-04-18 12:05:00 |
| 209 | sparkychap wrote: apollo11 - 2021-04-18 12:12:00 |
| 210 | kittycatkin wrote: maybe she didn’t get an inheritance to pay off/help with her mortgage or she might have had a serious injury/illness which left her unable to work, I mean who really knows? I just feel sorry for her as life doesn’t always go as one plans, n’ est ce pas? lakeview3 - 2021-04-18 12:14:00 |
| 211 | kittycatkin wrote: unfortunately at the time, none of the media had the guts to report it properly, but the practice is/was well known around the world and we were not exempt. https://www.stuff.co.nz/the-press/business/65894003/wealthy- “DeLeon Realty of Palo Alto also created a division to market in Asia. “We hired someone who grew up in China to promote our listings to the Chinese community,” says founder Ken DeLeon. His firm bought a 14-seat Mercedes bus to take Asian buyers on tours of Peninsula homes for sale. It’s not unusual for foreign buyers to take a one-week home-buying trip to the Bay Area. Some purchase sight unseen. Lota De Castro, an agent with Paragon Real Estate Group in San Francisco, said she closed on a King Street studio with a buyer in Singapore who “transacted the business by e-mails and phone calls and (has) not physically seen the unit.” lakeview3 - 2021-04-18 12:20:00 |
| 212 | heather902 wrote:
Being vulnerable includes all sorts of situations. I wasn't referring solely to being a parent, although being a parent with a single income and subject to the current private rental market does to place people in vulnerable positions. I was just noting your lack of empathy and apparent confidence in your own invulnerability then transferring that prejudice to others :) upfront1 - 2021-04-18 12:24:00 |
| 213 | upfront1 wrote: yes and being a parent means you do have responsibility not just for yourself, especially when the child is under 18. lakeview3 - 2021-04-18 12:28:00 |
| 214 | apollo11 wrote: I agree entirely. But the cost of buying that bonkers is cheaper due to the historically low interest rates. But that’s not the point of the CPI measure. But the bonkers housing market is no secret - the inflation in house prices is front page property porn everyday! sparkychap - 2021-04-18 12:32:00 |
| 215 | lakeview3 wrote: And yet you post a link of the media reporting it at the time. Here are two more for Rotorua. It was widely reported at the time, as it was common practice with local real estate agents boasting about it to get listings. Just because you didn't see it, doesn't mean it wasn't reported. Whenever someone makes a comment about "the media won't report it" I can guarantee they certainly did. Edited by sparkychap at 12:47 pm, Sun 18 Apr sparkychap - 2021-04-18 12:47:00 |
| 216 | sparkychap wrote: thanks for that Proves my point and no, the majority of locals didn’t welcome it, but again the media proves how they control the narrative eh. Just like cnn admitted they did in the last few days. Go have a look for that if you can find information that hadn’t already been ‘erased’ Their next target? Climate change. lakeview3 - 2021-04-18 12:56:00 |
| 217 | upfront1 wrote:
yep i am confident. its not a bad thing. heather902 - 2021-04-18 12:56:00 |
| 218 | lakeview3 wrote: No it doesn't prove your point at all. sparkychap - 2021-04-18 12:57:00 |
| 219 | sparkychap wrote: yes it does. I claimed busloads were being driven around and you just proved it for me, thanks! lakeview3 - 2021-04-18 12:58:00 |
| 220 | lakeview3 wrote: You said that the media didn't report it. They did. It was widely publicised. I even remember seeing it on TV news. Caused a mini house price boom in Edgecombe. Edited by sparkychap at 1:01 pm, Sun 18 Apr sparkychap - 2021-04-18 12:59:00 |
| 221 | sparkychap wrote: oh sorry I must have missed that show, probably cooking dinner for the kids or something like that at the time! lakeview3 - 2021-04-18 13:01:00 |
| 222 | lakeview3 wrote: Well considering you often state that you don't get the news from the mainstream media anyway, I don't really take any of your comments on what you see on the mainstream media with any seriousness. But getting back to the point - yes you were quite correct. As was widely reported in the media at the time, there were busloads of oversea investors being toured around NZ being offered investments. Edited by sparkychap at 1:07 pm, Sun 18 Apr sparkychap - 2021-04-18 13:06:00 |
| 223 | sparkychap wrote: yeah I used to watch the news back then. Now I don’t. I gave up watching that one sided BS propaganda machine a few years ago now. The news websites are almost as bad with all their stupid opinion pieces often lacking the full story. I mean it’s called the news, why don’t they just report that for once? I can’t even remember the last time our TV was on. Maybe a year ago? Seriously though sparky, go look up all that stuff about cnn.....that should ring serious alarm bells for anyone with an ounce of common sense. Edited by lakeview3 at 1:10 pm, Sun 18 Apr lakeview3 - 2021-04-18 13:09:00 |
| 224 | QED sparkychap - 2021-04-18 13:10:00 |
| 225 | upfront1 wrote: apollo11 - 2021-04-18 13:36:00 |
| 226 | apollo11 wrote: I do agree there. Shouldn’t be a life time crutch. No harm in empowering people and lifting them up, but a permanent situation it should not be. lakeview3 - 2021-04-18 13:39:00 |
| 227 | sparkychap wrote: lovelurking - 2021-04-18 13:42:00 |
| 228 | lovelurking wrote: yeah lots of them were travelling as tourists in foreign owned buses, in foreign owned houses and eating at foreign owned restaurants and shopping at foreign owned shops. All right here in NZ. I counted 18 of those white buses with trailers outside one ‘restaurant’ here once, it only ever opens for tour groups. Locals can’t eat there. (course it’s shut at the moment- funny that) Edited by lakeview3 at 1:45 pm, Sun 18 Apr lakeview3 - 2021-04-18 13:45:00 |
| 229 | lovelurking wrote: I believe that it wasn't reported by the biased propaganda main stream media. Maybe it was on Breitbart, though. sparkychap - 2021-04-18 13:47:00 |
| 230 | While the Government has long signalled plans around deposit protection, Thursday's release revealed that Cabinet has agreed to a new process for setting lending restrictions, such as loan-to-value ratios, moving some degree of powers from the Reserve Bank to the Beehive. aklreels - 2021-04-22 15:06:00 |
| 231 | From the internet aklreels - 2021-04-24 21:28:00 |
| 232 | From the internet “They can choose to have a vulnerable tenant. However, they cannot get insurance if they do not have good reference, character and credit checks on them. It also needs to be mentioned that the current Government has made changes in laws such as the Residential Tenancy Act which has removed the no-cause 90-day termination notice" Stats NZ data puts the total number of rental properties in New Zealand at 527,853. Of those 440,025 were owned by private investors. The median asking price for a rental increased 6 percent in the year to March, new data from Trade Me shows. "After two consecutive months of supply outweighing demand, we saw the tables turn in March, with demand once again overtaking supply and putting pressure on the market, causing rental prices to climb." The exception is central Auckland, where growing supply has pushed the median rent down 3 percent to $560. The last time the year-on-year figure went up was May 2020. North Shore remains the super city's most expensive suburb at $635, followed by Rodney on $625 and Manukau on $600. BTR, which involves the development of multi-unit residential buildings for long-term rentals, rather than sales to individual owners, has been touted as a way to help address the country’s housing shortage for several years. But the sector has struggled to get off the ground in New Zealand – unlike in the UK where it has taken off over the last 10 years, or even Australia where it is growing in popularity. An Upper Hutt pensioner is scrambling to find a way to get by after being told her rent would increase by $135 a week to keep in line with the market. The woman, who did not want to be named, received an email from the property manager of her two-bedroom Wallaceville flat, informing her the rent would be increasing to $545 a week from mid-next month. Stuff spoke to several other renters at flats managed by Te Aro Tenancies, who had workers barge in without warning or had problems getting maintenance done. “I woke up to a random man walking into my room, while I was sleeping,” one renter at a flat on Manners St said. Do we have food and shelter? aklreels - 2021-04-29 08:19:00 |
| 233 | aklreels wrote:
I'm not surprised, considering net migration has effectively been as close to zero as possible for a year now. Interesting then that prices continue to increase by record amounts. Edited by loose.unit8 at 8:50 am, Thu 29 Apr loose.unit8 - 2021-04-29 08:49:00 |
| 234 | loose.unit8 wrote: how close is 44.000 to zero? https://www.stats.govt.nz/news/annual-net-migration-down-in- sparkychap - 2021-04-29 09:17:00 |
| 235 | sparkychap wrote:
A lot further away from zero than the actual figure for the last 12 months. "In the eight months from April 2020 to November 2020, net migration was provisionally estimated at 5,100." That's not per month, that's in total. And there is no reason to think it's changed much between November and now - i.e. the one year I quoted - so is likely to be under 10,000. https://www.stats.govt.nz/news/annual-net-migration-slows Edited by loose.unit8 at 9:34 am, Thu 29 Apr loose.unit8 - 2021-04-29 09:29:00 |
| 236 | From the internet Borrowing for mortgages leaped again in March to cross the $10 billion mark for the first time, new Reserve Bank lending data reveals. The $10.4 billion borrowed in the month was the highest amount since the Reserve Bank started recording the data in August 2014 and was the latest in a series of record figures set in the last months of last year. Of that borrowing, $2.3b went to investors and $1.7b went to first-home buyers. Existing owner-occupiers accounted for $6.2b. aklreels - 2021-05-01 07:47:00 |
| 237 | The actual number of investor borrowers jumped more than a thousand or from the previous month. Up nearly 30% though similar % as previous month due to the big overall increase in borrowers. Suspect investors making moves before the signalled LVR changes kick in. And many lucky enough to avoid the punitive 100% interest non-deduction that kicked in last few days in March. Predict investor numbers and amounts will drop sharply for a time. artemis - 2021-05-01 08:06:00 |
| 238 | artemis wrote: Worth noting, however that by early February all five main banks had already implemented stricter LVR for investors. ANZ moved last December. So those were already in effect for the March data, sparkychap - 2021-05-01 08:40:00 |
| 239 | sparkychap wrote:
True but settlements are seldom instantaneous. artemis - 2021-05-01 09:07:00 |
| 240 | artemis wrote: True, but the actual implementation of the LVR rules by the RBNZ has little to do with it. The market has already been pricing it in with banks implementing their rules with immediate effect earlier. sparkychap - 2021-05-01 09:15:00 |
| 241 | From the internet Westpac economist New data has found a reduction in demand in nationwide housing valuations which could be the first signs of the housing market slowing. CoreLogic House Price Index tracks property value change and its latest report has found a reduction in demand of valuations, down 11 percent compared to the previous 6 months. According to Trade Me Property, new listings to market remained relatively steady throughout April, about 3000 new listings per week, until ANZAC weekend (1800). The total number of properties listed for sale on Trade Me Property dropped to 22,300 by the end of the month, from 23,100 at the beginning of the month. This meant buyers would continue to compete for a relatively small pool of advertised properties, he said. aklreels - 2021-05-08 15:07:00 |
| 242 | Actual homes are more important than consents. Can't live in a consent, and by no means all consents result in a home. Maybe there is somewhere that reports number of actual homes delivered. artemis - 2021-05-08 16:19:00 |
| 243 | Also with the amount of higher density redevelopment going on, for each consent a dwelling may be removed, so the number of new homes consented also needs to be balanced with the removals. sparkychap - 2021-05-08 17:28:00 |
| 244 | News Headlines House prices increased 21% in the last year, despite action to slow growth. Meantime, RBNZ is keeping an eye on this. In its six-monthly financial stability report, the central bank said it may need to take further action to cool the market. Another worry for the bank was if a 'sharp correction' occurred, potentially causing prices to dramatically fall 10-20 percent at once. Don't know how this will play out, its wait and see. aklreels - 2021-05-11 08:29:00 |
| 245 | aklreels wrote:
Really! Let's see. If it drops 10%, a lot of FHB will be stretched to the limit and have to sell up up due to liquidity. Myself, nah. Only have 25% loading on our investments. Will it happen, nah. smallwoods - 2021-05-11 08:41:00 |
| 246 | smallwoods wrote: No this isn't right. Price falls makes no difference to "liquidity" as long as the borrower can still afford the mortgage payments. With the 20% LVRs and double digit annual price rises we've seen, very few FHBer will be plunged into negative equity, and even if they are, as long as they can still pay the mortgage, the banks will continue to let them. Rising interest rates are far more of a concern although banks have been stress testing to 7% in recent years, and its estimated that we're many, many years away from getting back to those levels. Edited by sparkychap at 8:49 am, Tue 11 May sparkychap - 2021-05-11 08:45:00 |
| 247 | My offspring is trying to buy a first home. What an absolute mess the housing market is for first home buyers. We are helping her considerably but if you are single, have a student loan, employed by the public service (good bye any pay increments!) then it is an increasingly uphill battle. geoone - 2021-05-11 10:39:00 |
| 248 | sparkychap wrote:
The banks won't hang around for long at 95%+ equity, even less at 105% And I meant equity, not liquidity. Edited by smallwoods at 12:46 pm, Tue 11 May smallwoods - 2021-05-11 12:45:00 |
| 249 | smallwoods wrote: What do you mean? sparkychap - 2021-05-11 12:47:00 |
| 250 | I would think that the banks are terrified of crashing the housing market, and would hold off selling houses from under people (with negative equity) as a very last resort. apollo11 - 2021-05-11 13:36:00 |
