| 1 | said the chairman of the anz. I would invest in commercial except tenants are really struggling this round. ash4561 - 2021-11-05 00:35:00 |
| 2 | ash4561 wrote:
said the chairman of the anz. I would invest in commercial except tenants are really struggling this round. I was always keen on commercial property but not any more...
In our area most tenants are on reduced rents and some have just packed up and left, so the building owners are left with an empty building and fork all chance of finding another tenant. |
| 3 | The housing boom is over, said the chair of the ANZ, pocketing his nice little bonus from the record $1.9bn annual profit, mostly made from fueling said housing boom. sparkychap - 2021-11-05 06:47:00 |
| 4 | I've heard that before. Back in the early 90s, and friend tried to talk us into commercial property.
The internet has slowly killed off a lot of it. We said no then and haven't regretted it. Look around, empty shops everywhere you go. lythande1 - 2021-11-05 08:38:00 |
| 5 | We are now fully in the stage of building thousands of shit boxes boom, tear down a nice well built sometimes historical home and build with shoddy Chinese imported materials, several ugly crammed in shit boxes with No land or parking and destroying the look and ambience of the neighbourhood. You can see deterioration inside a year on these crap boxes that will be slums fit for demolition inside a decade, they are Not Kiwi family homes for raising families, most will be nightmare rentals for the next wave of cheap labour from the overpopulated countries and the asking prices are a blatant rip off, aforedable housing, Not, the Kiwi dream is over. |
| 6 | https://www.stuff.co.nz/business/industries/126884658/reserv
e-banks-orr-holds-biggest-wand-ever-amid-housing-boom-says-j
ohn-key https://www.nzherald.co.nz/business/housing-market-boom-run-
is-over-says-john-key/QJJLLJM2LPANXJNTPUNMHD6HPI/ I think it's hard to disagree with him. There is a lot of upwards pressures disappearing or have disappeared and/or are turning into downward pressures at the moment. |
| 7 | martinistar wrote:
We are now fully in the stage of building thousands of shit boxes boom, tear down a nice well built sometimes historical home and build with shoddy Chinese imported materials, several ugly crammed in shit boxes with No land or parking and destroying the look and ambience of the neighbourhood. You can see deterioration inside a year on these crap boxes that will be slums fit for demolition inside a decade, they are Not Kiwi family homes for raising families, most will be nightmare rentals for the next wave of cheap labour from the overpopulated countries and the asking prices are a blatant rip off, aforedable housing, Not, the Kiwi dream is over. Whatever ya NIMBY |
| 8 | lythande1 wrote:
I've heard that before. Back in the early 90s, and friend tried to talk us into commercial property.
The internet has slowly killed off a lot of it. We said no then and haven't regretted it. Look around, empty shops everywhere you go.
There’s more than one type of commercial building, we are going to need somewhere to repair all these electric vehicles toyboy3 - 2021-11-05 11:05:00 |
| 9 | loose.unit8 wrote:
Whatever ya NIMBY This is happening all over Auckland Clueless |
| 10 | martinistar wrote:
We are now fully in the stage of building thousands of shit boxes boom, tear down a nice well built sometimes historical home and build with shoddy Chinese imported materials, several ugly crammed in shit boxes with No land or parking and destroying the look and ambience of the neighbourhood. You can see deterioration inside a year on these crap boxes that will be slums fit for demolition inside a decade, they are Not Kiwi family homes for raising families, most will be nightmare rentals for the next wave of cheap labour from the overpopulated countries and the asking prices are a blatant rip off, aforedable housing, Not, the Kiwi dream is over. Private sector apartments might not be very suitable for families but still not a bad way for singles and couples to start home ownership and trade up later. Kainga Ora is to bring in thousands of prebuilt units from China for social and emergency housing. Sounds like they are good quality. With the focus now on higher density it is inevitable that there will be clusters of them. Suggest that will not end well for the neighbours. artemis - 2021-11-05 11:28:00 |
| 11 | artemis wrote:
Kainga Ora is to bring in thousands of prebuilt units from China for social and emergency housing. Sounds like they are good quality. With the focus now on higher density it is inevitable that there will be clusters of them. Suggest that will not end well for the neighbours. It's hard to picture quality builds and China together. Pity KO couldn't buy from locals, or better yet let private landlords handle things. This country is a mess. Edited by sweetgurl108 at 1:10 pm, Fri 5 Nov |
| 12 | martinistar wrote:
We are now fully in the stage of building thousands of shit boxes boom, tear down a nice well built sometimes historical home and build with shoddy Chinese imported materials, several ugly crammed in shit boxes with No land or parking and destroying the look and ambience of the neighbourhood. You can see deterioration inside a year on these crap boxes that will be slums fit for demolition inside a decade, they are Not Kiwi family homes for raising families, most will be nightmare rentals for the next wave of cheap labour from the overpopulated countries and the asking prices are a blatant rip off, aforedable housing, Not, the Kiwi dream is over. Totally agree. trogedon - 2021-11-05 13:40:00 |
| 13 | sparkychap wrote:
The housing boom is over, said the chair of the ANZ, pocketing his nice little bonus from the record $1.9bn annual profit, mostly made from fueling said housing boom.
Not to mention he bought a house for his son max in Auckland about the time of dropping interest rates and the start of dramatically spiking house prices ......maybe a little insider trading me thinks..... denlah - 2021-11-05 14:08:00 |
| 14 | denlah wrote:
Not to mention he bought a house for his son max in Auckland about the time of dropping interest rates and the start of dramatically spiking house prices ......maybe a little insider trading me thinks..... Being able to recognise what's going on isn't insider trading. The reserve bank sets interest rates (to a point). Just what sort of power do you think chairman of a board has? Or perhaps you need to look up the definition of "insider trading"? Edited by loose.unit8 at 2:19 pm, Fri 5 Nov |
| 15 | denlah wrote:
Not to mention he bought a house for his son max in Auckland about the time of dropping interest rates and the start of dramatically spiking house prices ......maybe a little insider trading me thinks..... July 2020 was when interest rates started dropping and house prices spiked?
I don't think so. maddie44 - 2021-11-05 14:28:00 |
| 16 | loose.unit8 wrote:
Being able to recognise what's going on isn't insider trading. The reserve bank sets interest rates (to a point). Just what sort of power do you think chairman of a board has? Or perhaps you need to look up the definition of "insider trading"? A little tongue and cheek comment....you don't think banks have their fingers on the pulse a little more than the layman....you don't think an ex prime minister doesn't have a few connections economically that the simple plebs don't while it may not technically be insider trading its kinda the same principle....people in the know jumping before others get on board. denlah - 2021-11-05 14:33:00 |
| 17 | the other factor you might want to consider is covid.
NZ is not a nice little hideaway it once was. if your going to have to deal with covid anyway, you might as well go to where the best paying jobs are.
a couple of mates, with family, have just gone back overseas. tweake - 2021-11-05 16:10:00 |
| 18 | maddie44 wrote:
July 2020 was when interest rates started dropping and house prices spiked?
I don't think so. Ok trending then denlah - 2021-11-05 17:14:00 |
| 19 | Profit up 39% .... bonuses all round and amidst a pandemic and rising inflation...Is there ever a scenario where RE or Finance actually takes a hit ?
https://www.stuff.co.nz/business/126811149/anz-reports-profi
t-of-nearly-2-billion-despite-effects-of-covid19 Edited by phalanax at 5:23 pm, Fri 5 Nov phalanax - 2021-11-05 17:19:00 |
| 20 | What I find remarkable is the report that inflation has reached 4.9%( the highest in a decade according to some) and the RB swiftly counters with an OCR climb of 0.25% ... no need to rock the boat I guess....Inflation sorted !
https://www.rnz.co.nz/news/business/453740/inflation-hits-hi
ghest-level-in-a-decade-as-consumer-prices-rose Edited by phalanax at 5:44 pm, Fri 5 Nov phalanax - 2021-11-05 17:42:00 |
| 21 | phalanax wrote:
Profit up 39% .... bonuses all round and amidst a pandemic and rising inflation...Is there ever a scenario where RE or Finance actually takes a hit ? no, then they claims they are too big to fail and need bailing out..privatize the profits and socialise the losses.... sparkychap - 2021-11-05 17:43:00 |
