| 251 | I mean it is going to make things harder for our family, as it will reduce our family income and probably stuff up our working for families (we are only single income family and that income isn't that much these days), but if it makes it easier for younger people to get into houses, I am all for it. tygertung - 2021-03-27 08:38:00 |
| 252 | karlymouse wrote:
Interested if this was the land that was offered to veterans from the wars.. I have an old diary from one of these and they mention having to make payments for land they had to walk away from being it was unproductive land Yes it was. From WW1. Hard going then many had to walk off the land during the depression. shanreagh - 2021-03-27 09:11:00 |
| 253 | bit wrote:
I hate people like you.
I pity the useless who live off the taxpayer and hate the industrious.
Grow up. Get a job. And a haircut. FFS pcle - 2021-03-27 10:10:00 |
| 254 | curlcrown wrote:
I'm a tennant and I'm worried about my rent going up. First of all we had a heat pump installed which we didn't want, and I would bet that the Landlord didn't want, then extracter fans,(gen less my eye) the only people that wanted it were not involved in the tenancey agreement and they didn't have to pay for it, and hypocritically they gave themselves more time to comply than anyone else. Now this craziness. I am a business owner any if I borrow money for anything else related to the business the interest paymets anre tax deductable. If I wanted I could buy a house but at this stage it would take up too much of my capitol and the grants they are offering are crubms and subject to all sorts of things. If my rent goes up my income will have to go up or I'll be worse off, it will go up by putting my prices up or cutting expeces there by reducing someone else business income a little bit. There are no winners in this. Wathc the landlords sell up and sink all the money in muilti million dollar family homes. The people they are trying to help will end up paying for this. Yes it's nasty. But don't panic. Spread over four years with only an increase in rent once per year. New builds may be cheaper to rent. But they are often miles away from anything. pcle - 2021-03-27 10:14:00 |
| 255 | artemis wrote:
Good point, and also the biggest borrowers for housing. But to answer your question - hahahahaha! Is that the sound of bureaucrats laughing at taxpayers as their budget jumps 28%+? pcle - 2021-03-27 10:16:00 |
| 256 | pcle wrote:
Grow up. Get a job. And a haircut. FFS
gee that's original can I use it? funkydunky - 2021-03-27 10:32:00 |
| 257 | pcle wrote:
I pity the useless who live off the taxpayer and hate the industrious.
Grow up. Get a job. And a haircut. FFS Actually, according to another post he's a landlord. sparkychap - 2021-03-27 10:45:00 |
| 258 | masturbidder wrote:
This is a business, not a charity.
'Market rents' are the income needed to provide and maintain the service, and make investment worthwhile.
Anyone losing money is not running a business properly, and under-cutting those who are. Reading this, maybe you have a point: https://www.stuff.co.nz/business/property/124653065/investor
s-sleepless-nights-over-prospect-of-super-negative-cash-flow
Maybe its the mum and dad investors who are financially strapped and invest with no contingency for financial shocks that are part of the problem. Maybe we need to get these amateurs out of the market and leave it to the professionals so we don't have to listen to these poor snowflake landlords. sparkychap - 2021-03-27 10:49:00 |
| 259 | What sometimes happens is that a couple will buy a first house, then after having some children will want a slightly bigger house so will buy a new one and rent the old one out. You could sell the first, but if you keep it and put the money towards the mortgage, it takes about the same time to pay off the new mortgage as it would had you sold the house. tygertung - 2021-03-27 11:13:00 |
| 260 | Yes you need spare cash for maintenance in rentals. things go wrong and need to be fixed now. Not when you can afford it. kamo631 - 2021-03-27 11:14:00 |
| 261 | The Aussie banks make a killing out of NZ mortgages. You can hear the constant sucking sound of the cash siphon and it's only getting bigger. It's unfortunate that investment in property has been pushed so hard and for so long in this country- to the detriment of investment in businesses and other means of production. And with the global economy about to shit itself at any time, where are kiwis supposed to invest their savings? People have been burned again and again with shares and private investment companies, and putting it all in the bank earns a pittance. Once again it is the average Kiwi that is getting shafted by inadequate government and a predatory banking system. We need to stop taking pot shots at each other and aim the blame at who really deserves it. Edited by apollo11 at 11:31 am, Sat 27 Mar apollo11 - 2021-03-27 11:30:00 |
| 262 | apollo11 wrote:
The Aussie banks make a killing out of NZ mortgages. You can hear the constant sucking sound of the cash siphon and it's only getting bigger. It's unfortunate that investment in property has been pushed so hard and for so long in this country- to the detriment of investment in businesses and other means of production. And with the global economy about to shit itself at any time, where are kiwis supposed to invest their savings? People have been burned again and again with shares and private investment companies, and putting it all in the bank earns a pittance. Once again it is the average Kiwi that is getting shafted by inadequate government and a predatory banking system. We need to stop taking pot shots at each other and aim the blame at who really deserves it. This is a great post, especially the last sentence...???? |
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| 267 | tygertung wrote:
I mean it is going to make things harder for our family, as it will reduce our family income and probably stuff up our working for families (we are only single income family and that income isn't that much these days), but if it makes it easier for younger people to get into houses, I am all for it. why are we all assuming that its a good thing for young people to own houses, when it reality its just a long big mortgage that is a financial burden and ties you into an area. young people should spend their money on starting up businesses, locating to where the action is, travel overseas and experience life and gain international working experiences. the rest of the world is moving into a pay-as-you-go era, from netflix to uber to co-working office spaces. toenail - 2021-03-27 13:51:00 |
| 268 | pcle wrote:
Yes it's nasty. But don't panic. Spread over four years with only an increase in rent once per year. New builds may be cheaper to rent. But they are often miles away from anything. depending on their landlords cash flow, that single year increase could be huge, especially if they are barely breaking even now. remember that its self fulfilling prophecy, increase in rents will accelerate inflation, which in turns increase interest rates, which in turn means landlords are more negative geared, which means increase rent again, which than increases inflation etc toenail - 2021-03-27 13:57:00 |
| 269 | kittycatkin wrote:
Some of the 'farms' were such poor land that no amount of backbreaking (heartbreaking) work could make them pay. The history of the land beyond The Bridge to Nowhere makes sad reading. The farmers couldn't make a living on the land there, the soil was poor and unsuitable. They had to walk away and soon the bush claimed the land back. Yep, know of farms in there even recently that have broken families and sold to hunting groups.
Left to return to scrub and either bee keepers or hunting took over.
Bulldozer was found on one block, stuck in a gully and left.
Cleared out and started it up and dug it out. smallwoods - 2021-03-27 14:05:00 |
| 270 | lakeview3 wrote:
sorry I can’t help it if you take it personally when I make a general statement. That’s all they are, generalisations. If they don’t apply to you then there’s no problem. This country needs to have conversations about how inequality affects our youth. Sorry if that makes you feel uncomfortable. I am all for young people having the same chances us older people have had. It’s not hating on anyone, it’s about being FAIR. I know of a young chap, who as an apprentice has saved for his house.
Just turned 21 and is about to be a dad.
Should be out of his apprenticeship soon too.
The world is his oyster.
So as a generalisation, since he could do it, there is nothing stopping any young person doing it too!
Case closed, move on. smallwoods - 2021-03-27 14:13:00 |
| 271 | lakeview3 wrote:
Some people will never inherit anything. Shouldnt they have the same opportunity as anyone else? Life is not always fair, so NO smallwoods - 2021-03-27 14:14:00 |
| 272 | princess52 wrote:
it depends what your plans are for retirement. I want to travel a lot. So I need enough money to do that. The people with 6 rentals have to pay for rates, insurance, tax and maintenance costs. So they won’t get anywhere near the $500 per property per week. Rates $3k, insurance $4k, maintenance $5k, total $12k
income $26k
tax on $14k, depends on total but $5k
$9k x 6 rentals = $54k plus super smallwoods - 2021-03-27 14:22:00 |
| 273 | smallwoods wrote:
I know of a young chap, who as an apprentice has saved for his house.
Just turned 21 and is about to be a dad.
Should be out of his apprenticeship soon too.
The world is his oyster.
So as a generalisation, since he could do it, there is nothing stopping any young person doing it too!
Case closed, move on. One of ours is just out of his (double) apprenticeship. Has Kiwisaver, savings and a plan to own his own place, work towards Certifying status (2 more years), start up his own business one day. Most of the time has been on minimum wage or not much more. Sure has had some family help via interest free loans and apprenticeship fees. But we are fortunate to be able to help and he is worth it! For the young, if it is the right fit, apprenticeships work better than uni as no student loans, paid while learning and pretty much guaranteed work when qualified. artemis - 2021-03-27 14:35:00 |
| 274 | sparkychap wrote:
Reading this, maybe you have a point: https://www.stuff.co.nz/business/property/124653065/investor
s-sleepless-nights-over-prospect-of-super-negative-cash-flow
Maybe its the mum and dad investors who are financially strapped and invest with no contingency for financial shocks that are part of the problem. Maybe we need to get these amateurs out of the market and leave it to the professionals so we don't have to listen to these poor snowflake landlords. I think that's a little unfair. For some families, they've just discovered they will have $15,000 less a year (net). they pay tax and they lose wff.
So $300 a week worse off as a family with kids, i do have some sympathy for that.
As homeowners sure we all expect the odd thing to crop up. we've had a flood and discovered we needed to replace our gas pipes.. so yeah a few thousand here and there all good. but $15K every year? i don;t think that's nothing. heather902 - 2021-03-27 14:40:00 |
| 275 | heather902 wrote:
I think that's a little unfair. For some families, they've just discovered they will have $15,000 less a year (net). they pay tax and they lose wff.
So $300 a week worse off as a family with kids, i do have some sympathy for that.
As homeowners sure we all expect the odd thing to crop up. we've had a flood and discovered we needed to replace our gas pipes.. so yeah a few thousand here and there all good. but $15K every year? i don;t think that's nothing. The guy is saying it's $5K per year not $ 15K, And he admits here's "pushed his finances to the maximum" already presumably because he can see that lovely guaranteed tax free capital gain.... Edited by sparkychap at 2:55 pm, Sat 27 Mar sparkychap - 2021-03-27 14:50:00 |
| 276 | sparkychap wrote:
The guy is saying it's $5K per year not $ 15K, And he admits here's "pushed his finances to the maximum" already presumably because he can see that lovely guaranteed tax free capital gain.... ok that's him, but there are others I've heard saying $15k which it would be when your income is $20K or more higher.
I guess i'm really rather sick of the way some people treat each other, when it comes to money. ( and no i don't mean you personally) but this great big presence that no one should car about having money is nuts. because people certainly care when they don't think they have their fair share. heather902 - 2021-03-27 14:59:00 |
| 277 | A psychology experiment using a rigged Monopoly game reveals how inequality replicates itself. https://www.marketplace.org/2021/01/19/why-rich-people-tend-
think-they-deserve-their-money/ Interesting mkr_ahearn - 2021-03-27 17:01:00 |
| 278 | sparkychap wrote:
The guy is saying it's $5K per year not $ 15K, And he admits here's "pushed his finances to the maximum" already presumably because he can see that lovely guaranteed tax free capital gain.... It is a investment scheme. If it doesn't work out he can sell up and do other more financially productive ventures. Edited by rayonline_tm at 5:17 pm, Sat 27 Mar |
| 279 | lakeview3 wrote:
Some people will never inherit anything. Shouldnt they have the same opportunity as anyone else? BTW if that comment was supposed to be a dig at me, my parents aren’t boomers, they are older than that. I'm sorry you took it that way LV, it certainly wasn't a dig at you but it's what I have said many times. I know many won't get anything from their parents as I was one of them. My parents used all their money to pay for their rest home/24 hr. hospital care, by the time they died they only had the allowable limit, the cost of a funeral. These days residents are allowed over $200k but back then it was only $5k. kacy5 - 2021-03-27 18:05:00 |
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| 284 | kittycatkin wrote:
Why should they ? I was left a nice legacy, but know other people who have had much larger ones. UNFAIR !!!! I should have the same as they've had. At taxpayers' expense, of course. So many think an inheritance is a right but it's not, it's their parent's money to spend in whatever way they choose or is needed in their final years. If anything is received after their death the family should be grateful and spend it wisely to get ahead as their parents would have wished for them. kacy5 - 2021-03-27 19:43:00 |
| 285 | smallwoods wrote:
I know of a young chap, who as an apprentice has saved for his house.
Just turned 21 and is about to be a dad.
Should be out of his apprenticeship soon too.
The world is his oyster.
So as a generalisation, since he could do it, there is nothing stopping any young person doing it too!
Case closed, move on.
Stepson and partner not even mid 20's yet bought their 2nd house in Wellington mid 2020. Made 150k on the 1st they had owned for under 2 years and sold. It can be done with some hard work and cunning plans. They have flat mates that were with them in the 1st house and moved with them into the 2nd. But the 2nd is huge and 2 storied with plenty of land. bryalea - 2021-03-27 21:06:00 |
| 286 | kittycatkin wrote:
If you bang on about people getting pensions, it's a fair bet that you are talking about 'boomers' and those who, in your view, should not have the pension. You have done this a number of times. specifically targetting superannuitants. for goodness sake, stop making up stuff I never said. I have said that this country needs to have a conversation about pensions because - going forward- we cannot afford to pay them. If that means asset and income testing them like many other countries do then so be it. The fact we can’t have a mature conversation about it and judging by many of the comments on here and other related articles and news sites highlights where the issue really lies. The pendulum swung too far, it’s time for a change. lakeview3 - 2021-03-27 21:15:00 |
| 287 | kacy5 wrote:
So many think an inheritance is a right but it's not, it's their parent's money to spend in whatever way they choose or is needed in their final years. If anything is received after their death the family should be grateful and spend it wisely to get ahead as their parents would have wished for them. yes it is their money to spend, however it also states under New Zealand law that it is a parents responsibility to provide for their children and many wills have been contested on this basis. Personally I think it’s blardy selfish to bring kids into the world and not leave them anything when you go. I mean they didn’t ask us to give birth to them so the least we can do is leave them something to make life a bit easier when we are gone. Edited by lakeview3 at 9:19 pm, Sat 27 Mar lakeview3 - 2021-03-27 21:18:00 |
| 288 | kittycatkin wrote:
I know of a young couple who bought a do-up house and did it up with things like a new kitchen (he's a tradie) They were selling it at a price that reflected the new value when I last heard of them. how do we know this is a true story lakeview3 - 2021-03-27 21:21:00 |
| 289 | lakeview3 wrote:
yes it is their money to spend, however it also states under New Zealand law that it is a parents responsibility to provide for their children and many wills have been contested on this basis. Personally I think it’s blardy selfish to bring kids into the world and not leave them anything when you go. I mean they didn’t ask us to give birth to them so the least we can do is leave them something to make life a bit easier when we are gone. Put your money where your mouth is and tell all, how you have achieved this. Edited by heather902 at 9:26 pm, Sat 27 Mar heather902 - 2021-03-27 21:25:00 |
| 290 | lakeview3 wrote:
yes it is their money to spend, however it also states under New Zealand law that it is a parents responsibility to provide for their children and many wills have been contested on this basis. Personally I think it’s blardy selfish to bring kids into the world and not leave them anything when you go. I mean they didn’t ask us to give birth to them so the least we can do is leave them something to make life a bit easier when we are gone. clearly some people think that it’s their money, have a blardy great old time, spend it on themselves and tough bikkies about leaving the kids anything! The old ‘ya can’t take it with ya crowd’ lakeview3 - 2021-03-27 21:25:00 |
| 291 | heather902 wrote:
Put your money where your mouth is and tell all, how you have achieved this. i am still working on it. Ask me again in 20 years or so how things are looking then.... lakeview3 - 2021-03-27 21:41:00 |
| 292 | lakeview3 wrote:
i am still working on it. Ask me again in 20 years or so how things are looking then.... what a load of BS, you are close to a Baby boomer age, you aren't investing in property, you don't have 20 years.. heather902 - 2021-03-27 21:43:00 |
| 293 | heather902 wrote:
I think that's a little unfair. For some families, they've just discovered they will have $15,000 less a year (net). they pay tax and they lose wff.
So $300 a week worse off as a family with kids, i do have some sympathy for that.
This lot are particularly skilled at shuffling money and making things substantially worse for some groups of people. It's a pattern at this point (first was where the Families Package changes which harmed a small proportion of the population despite a promise that nobody would be worse off...) |
| 294 | "I didn't ask to be born".
I can't believe someone of your ripe years actually thinks like this, lakeview. It's something a 14 year-old would say. apollo11 - 2021-03-27 21:50:00 |
| 295 | lakeview3 wrote:
Personally I think it’s blardy selfish to bring kids into the world and not leave them anything when you go. I mean they didn’t ask us to give birth to them so the least we can do is leave them something to make life a bit easier when we are gone.
Only if you raise your kids to have a whopping sense of entitlement. |
| 296 | heather902 wrote:
what a load of BS, you are close to a Baby boomer age, you aren't investing in property, you don't have 20 years.. WTAF? lakeview3 - 2021-03-27 21:53:00 |
| 297 | Lol all round. sparkychap - 2021-03-27 21:54:00 |
| 298 | Please can anyone provide a realistic detailed worked example resulting in a $16k additional tax bill please? sparkychap - 2021-03-27 21:56:00 |
| 299 | sweetgurl108 wrote:
Only if you raise your kids to have a whopping sense of entitlement. no, they don’t expect anything. However, I believe I have a responsibility as their parent, I bought them into this world. Of course I will try and leave them some kind of reasonable inheritance, why wouldn’t I? It’s a damn shame a few more people don’t think like this. I must say, I am shocked by people’s comments. What a blimmen eye opener eh. lakeview3 - 2021-03-27 21:57:00 |
| 300 | sparkychap wrote:
Please can anyone provide a realistic detailed worked example resulting in a $16k additional tax bill please?
We don't do realistic here. apollo11 - 2021-03-27 21:57:00 |
