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domy2010 - 2021-03-18 23:23:00

domy2010 wrote:

Any multiple property owners out there starting to feel a little conflicted now with the housing situation?

How does owning one or one hundred affect the housing situation?

johnston - 2021-03-18 23:29:00

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domy2010 - 2021-03-19 00:02:00

What's the point of blaming private citizens for an issue largely caused by government action/ inaction and the global financial system?

apollo11 - 2021-03-19 00:32:00

This message was deleted.

domy2010 - 2021-03-19 00:37:00

Everybody's always struggled to buy their first house, or they were lucky.

Nothing's changed except the age at what people expect to buy their first house is now early 20's & houses, like cars, are so much better than they used to be.

marte - 2021-03-19 04:07:00

The whole thing has gone way too far now. Past the point of no return. Utterly irresponsible of the govt and the reserve bank. How those people sleep straight at night is beyond me.

As for the multiple property owners, start income testing their pensions or if they have a large asset/income base take their pensions off them. Frankly it’s disgusting to have young people struggling to put a roof over their head working to pay tax to pay the pensions of the people who own the house they live in.

lakeview3 - 2021-03-19 06:52:00

marte wrote:

Everybody's always struggled to buy their first house, or they were lucky.

Nothing's changed except the age at what people expect to buy their first house is now early 20's & houses, like cars, are so much better than they used to be.

are you serious?????

Not sure what your story is, but it’s pretty flipping obvious that LOTS a of ‘things’ have changed.

lakeview3 - 2021-03-19 06:54:00

marte you are correct, our first house interest rate was %18 , was a struggle for 15 years then got better slowly, plenty of hand me downs and a bomb of a car, and bomb of a house too.

msigg - 2021-03-19 06:59:00

msigg wrote:

marte you are correct, our first house interest rate was %18 , was a struggle for 15 years then got better slowly, plenty of hand me downs and a bomb of a car, and bomb of a house too.

what so your interest rate was 18% for 15 years? What year/s was this please. Also how much was the house?

Edited by lakeview3 at 7:06 am, Fri 19 Mar

lakeview3 - 2021-03-19 07:04:00

domy2010 wrote:

Because 99 other people are struggling to buy their 1... also the market rate for the 99 houses are at ludicrous prices...

Your stats are wrong but in any event there is still not one extra house regardless of who owns them.

johnston - 2021-03-19 07:12:00

We don't have a rental anymore but if we did I wouldn't feel guilty as there is such a shortage of rentals. On Monday there were 16 houses to rent in the wairarapa and 200 people on the emergency housing list. Only 7 of those houses were under $500 a week.
There are no rentals in my town but a lot of homestays. But we need them for accomodation for the visitors that keep our town going, but then there is no rentals for the people that work in town. So not sure what the answer is really.

annie17111 - 2021-03-19 07:46:00

It's not the multiple property owners who have caused the problem.
Are the councils and incompetent public servants feeling guilty?
Nah - just vote themselves another pay rise and all is well.

pcle - 2021-03-19 07:47:00

annie17111 wrote:

We don't have a rental anymore but if we did I wouldn't feel guilty as there is such a shortage of rentals. On Monday there were 16 houses to rent in the wairarapa and 200 people on the emergency housing list. Only 7 of those houses were under $500 a week.
There are no rentals in my town but a lot of homestays. But we need them for accomodation for the visitors that keep our town going, but then there is no rentals for the people that work in town. So not sure what the answer is really.

I don’t see a problem in owning one, it’s when people own multiple houses that becomes a problem for society.

lakeview3 - 2021-03-19 07:50:00

pcle wrote:

It's not the multiple property owners who have caused the problem.
Are the councils and incompetent public servants feeling guilty?
Nah - just vote themselves another pay rise and all is well.

multiple property owners AND a the council are both equally to blame, sometimes they are even the same people and yes that IS a problem.

lakeview3 - 2021-03-19 07:51:00

Just rent it's a international thing now same to apartments.

rayonline_tm - 2021-03-19 08:00:00

The stupid idiots in Wellington are spending $1M A DAY on motels.
And investors are the problem?
Yeah right.

pcle - 2021-03-19 08:01:00

lakeview3 wrote:

I don’t see a problem in owning one, it’s when people own multiple houses that becomes a problem for society.

if they own multiple properties and are renting them out to long term tenants I don't see why there is an issue. Not everyone wants to own their own house.
People that keep houses empty are pretty crappy but with new rental laws etc it's starting to become understandable.

annie17111 - 2021-03-19 08:02:00

Let's be honest - the problem isn't investors. 70%+ of whom own 1 rental property.
The problem is ideologically driven idiots in power.
Neither party will address the problems they have created.
The problem is too much tax and too much regulation.
Making it far too expensive to build and too expensive and difficult to rent.
But let's just blame anything else and distract from fixing anything.

pcle - 2021-03-19 08:29:00

pcle wrote:

The stupid idiots in Wellington are spending $1M A DAY on motels.
And investors are the problem?
Yeah right.

the problem is the previous govts selling state houses, allowing mass immigration, and the returning 501s, air bnb and empty ghost houses.

There isn’t a lack of housing in my town, it’s just that over 700 whole houses are used for air bnb and there are also many empty houses and ‘ baches’. Furthermore there are hardly any safe small townhouse type options for older people who may wish to downsize.

Edited by lakeview3 at 8:38 am, Fri 19 Mar

lakeview3 - 2021-03-19 08:29:00

pcle wrote:

Let's be honest - the problem isn't investors. 70%+ of whom own 1 rental property.
The problem is ideologically driven idiots in power.
Neither party will address the problems they have created.
The problem is too much tax and too much regulation.
Making it far too expensive to build and too expensive and difficult to rent.
But let's just blame anything else and distract from fixing anything.

pretty much this:

‘Neither party will address the problems they have created’

So looks like David Seymour could be PM next time? I mean who else is there left to vote for?

lakeview3 - 2021-03-19 08:32:00

lakeview3 wrote:

the problem is the previous govts selling state houses, allowing mass immigration, and the returning 501s, air bnb and empty ghost houses.

There isn’t a lack of housing in my town, it’s just that over 700 whole houses are used for air bnb and there are also many empty houses and ‘ aches’. Furthermore there are hardly any safe small townhouse type options for older people who may wish to downsize.

sounds like my town.

annie17111 - 2021-03-19 08:36:00

annie17111 wrote:

sounds like my town.

yeah it’s all fixable pretty quickly if any of the politicians/councils had any balls.

I am sick and tired of the lot of them. It disgusts me even more to see the money they waste and the problems they cause with their own ineptitude.

I know people who work at the council here who think it’s a joke. They are also disgusted but can’t find a job elsewhere.

lakeview3 - 2021-03-19 08:40:00

lakeview3 wrote:

yeah it’s all fixable pretty quickly if any of the politicians/councils had any balls.

I am sick and tired of the lot of them. It disgusts me even more to see the money they waste and the problems they cause with their own ineptitude.

I know people who work at the council here who think it’s a joke. They are also disgusted but can’t find a job elsewhere.

some people need to get a life.

gabbysnana - 2021-03-19 09:02:00

gabbysnana wrote:

some people need to get a life.

is that the best you could do? You know I’m right though eh.....it just takes courage to admit it.

lakeview3 - 2021-03-19 09:06:00

lakeview3 wrote:

yeah it’s all fixable pretty quickly if any of the politicians/councils had any balls.

I am sick and tired of the lot of them. It disgusts me even more to see the money they waste and the problems they cause with their own ineptitude.

I know people who work at the council here who think it’s a joke. They are also disgusted but can’t find a job elsewhere.

our council is hard to deal with when it comes to consents etc. We thought about subdividing but the council is just so difficult that it's not worth it.

annie17111 - 2021-03-19 09:30:00

Hi lakeview3 it was 30 years ago, actually the first section I bought the interest rate was 23 per cent from asb bank,. So after a year we sold and bought a house for150k ,we had 12k deposit and people were saying we were mad to buy the dump of a house for that $,. Anyway history repeats itself, all good,and yes I have 3 x children and my wife stayed home.. fun times

msigg - 2021-03-19 10:08:00

Property is a fairly safe place to park your cash, and anyone who has cash in the bank nowadays knows how futile that is. The massive governmental money printing means that any savings are being rapidly diluted in relation to hard assets, so it's common sense to invest in those assets. Don't blame the players, blame the game.

apollo11 - 2021-03-19 10:21:00

Bring back the mud festival.

fxx99 - 2021-03-19 11:16:00

Social and emergency housing is a massive expense for taxpayers. It will cost taxpayers much less if there are more private rentals where the private sector pays the capital cost, ongoing maintenance and admin, and BTW pays tax on profit.

Current government policies make it way too risky to take on less than ideal tenants - once some would have been given a chance. Not any more.No worries, taxpayers (the few that are left and don't leave the country as soon as they can) will pick up the tab.

artemis - 2021-03-19 11:45:00

msigg wrote:

Hi lakeview3 it was 30 years ago, actually the first section I bought the interest rate was 23 per cent from asb bank,. So after a year we sold and bought a house for150k ,we had 12k deposit and people were saying we were mad to buy the dump of a house for that $,. Anyway history repeats itself, all good,and yes I have 3 x children and my wife stayed home.. fun times

i think it must have been a lot longer than 30nyears ago when you bought your house. i bought my first house in 1993 and the interest rate was 13%. 16K deposit, house was 102K.
Most people can’t afford to have kids and stay home these days . So yah it is much harder to get on the property ladder and have kids.

Edited by lakeview3 at 1:41 pm, Fri 19 Mar

lakeview3 - 2021-03-19 13:40:00

fxx99 wrote:

Bring back the mud festival.

dont remind me of THAT debacle....

lakeview3 - 2021-03-19 13:42:00

pcle wrote:

The stupid idiots in Wellington are spending $1M A DAY on motels.
And investors are the problem?
Yeah right.

Government should buy the motels and pay managers - job creation.

amasser - 2021-03-19 14:02:00

amasser wrote:

Government should buy the motels and pay managers - job creation.

Government should not be in the business of providing rental accommodation.
They can barely organise what type of biscuits to serve for morning tea at yet another pointless meeting.

pcle - 2021-03-19 14:40:00

amasser wrote:

Government should buy the motels and pay managers - job creation.

The government has bought some motels. Don't know how many though.

artemis - 2021-03-19 14:42:00

$444 a night for a "MSD client"
That's $3,108 per week!

Anyone know of any seedy Motels for sale?
Asking for a friend....

pcle - 2021-03-19 14:51:00

Some intelligent comment:
https://businessdesk.co.nz/article/revealed-the-real-cause-o
f-high-house-prices

Fortunately none of that will happen.

pcle - 2021-03-19 15:05:00

lakeview3 wrote:

what so your interest rate was 18% for 15 years? What year/s was this please. Also how much was the house?

https://teara.govt.nz/en/graph/23100/interest-rates-1966-200
8

And more recently, not as high but still a great deal higher than now... https://www.rbnz.govt.nz/statistics/key-graphs/key-graph-mor
tgage-rates

tony9 - 2021-03-19 15:11:00

marte wrote:

Everybody's always struggled to buy their first house, or they were lucky.

Nothing's changed except the age at what people expect to buy their first house is now early 20's & houses, like cars, are so much better than they used to be.

Absolutely right, the difference is now that some believe they are entitled to have their situation resolved by others.

Our kids are buying houses in exactly the same way as others - at least 5 years of hard work, living cheaply and saving hard for a deposit. It works, every time now as it did over the last 100 years.

tony9 - 2021-03-19 15:13:00

Lakeview3 it was 31 or 32. To be closer, we had a home loan book with asb and cashed it in, the 23 per cent was because asb said the section was an investment not a house, so we had to ditch that idea and buy a house, my wife worked for approx 4 years before she had to stop, I got a good union job doing shift work and did my own renovation's, yes it was slow going but best years of my life, struggle is all good with the right frame of mind, as u get older I think money means less, can't take it with u.

msigg - 2021-03-19 15:13:00

lakeview3 wrote:

i think it must have been a lot longer than 30nyears ago when you bought your house. i bought my first house in 1993 and the interest rate was 13%. 16K deposit, house was 102K.
Most people can’t afford to have kids and stay home these days . So yah it is much harder to get on the property ladder and have kids.

We were paying 19% in 1989, they stayed up for a long time

mkr_ahearn - 2021-03-19 15:22:00

domy2010 wrote:

Any multiple property owners out there starting to feel a little conflicted now with the housing situation?

Would you sell one or all of your houses for less than what it is worth.

curlcrown - 2021-03-19 18:44:00

Lets be Honest, FHB's shouldn't expect to be able to afford 230 square meter standalone new house and / or quarter acre sections.

Lets be Honest, the average home size in the UK is 75 square meters. Similar sized properties are $675k-$700k in Auckland, NZ, 4.5 times the combined salary of a nurse and policemen couple ($75k).
https://www.trademe.co.nz/a/property/new-homes/new-townhouse
-terraced/auckland/waitakere-city/henderson/listing/28129450
09?bof=FpYAQXVB

Lets be Honest, New Zealand needs an adult discussion about immigration and what is the ideal population size. Importing 70,000 people per year is probably the main driver of the current home shortage. Labeling someone racist who dares bring it up is burying head in sand mentality.

Lets be Honest, having 6 children shouldn't entitle someone to a free 5 bedroom house.

Edited by ian1990 at 7:03 pm, Fri 19 Mar

ian1990 - 2021-03-19 18:55:00

mkr_ahearn wrote:

We were paying 19% in 1989, they stayed up for a long time

well they were obviously down to 13% by 1993 when I got my first mortgage lol

lakeview3 - 2021-03-19 19:02:00

ian1990 wrote:

Lets be Honest, FHB's shouldn't expect to be able to afford 230 square meter standalone new house and / or quarter acre sections.

Lets be Honest, the average home size in the UK is 75 square meters. Similar sized properties are $675k-$700k in Auckland, NZ, 4.5 times the combined salary of a nurse and policemen couple ($75k).
https://www.trademe.co.nz/a/property/new-homes/new-townhouse
-terraced/auckland/waitakere-city/henderson/listing/28129450
09?bof=FpYAQXVB

Lets be Honest, New Zealand needs an adult discussion about immigration and what is the ideal population size. Importing 70,000 people per year is probably the main driver of the current home shortage. Labeling someone racist who dares being it up is burying head in sand mentality.

Lets be Honest, having 6 children shouldn't entitle someone to a free 5 bedroom house.

AMEN X 100000

lakeview3 - 2021-03-19 19:03:00

domy2010 wrote:

Any multiple property owners out there starting to feel a little conflicted now with the housing situation?

Nope.

mcnic - 2021-03-19 19:41:00

pcle wrote:

$444 a night for a "MSD client"
That's $3,108 per week!

Anyone know of any seedy Motels for sale?
Asking for a friend....

I do! True story!

lakeview3 - 2021-03-19 20:27:00

lakeview3 wrote:

AMEN X 100000

When I was young, free and easy in the the mid 1990's, I went over to the UK. I spent a year in Edinburgh, Scotland. Meet a wee Scottish girl as you do! I found it extraordinary how she grew up in a two bedroom flat for the first ten years her of life and shared a bedroom with her brother. The family were what could be described as middle class. Father was an Architect, mother public servant with car. It took them 10 plus years to upgrade to nice multi story home (4 bedrooms, perhaps 100 sq meters) in six story complex!

ian1990 - 2021-03-19 21:03:00

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domy2010 - 2021-03-19 21:15:00

tony9 wrote:

https://teara.govt.nz/en/graph/23100/interest-rates-1966-200
8

And more recently, not as high but still a great deal higher than now... https://www.rbnz.govt.nz/statistics/key-graphs/key-graph-mor
tgage-rates

I already know all that......and yes interest rates are low, but prices are sky high, compared with income.

New Zealand has the highest debt to income ratio in the OECD. Not something to be proud of.

lakeview3 - 2021-03-19 21:17:00