If National wins ...

[elZorro]

Come on ElZorro, that is quoting Bombers site. Really? I could just as easy post my own "secret" poll with as much validity as that one...

UMR was started by Mike Williams, it was sold a few years ago, and I think Labour use them for some internal polling. Guess we'll have to wait for one of the other reported polls. But this housing issue isn't dying down, and National's policies aren't helping enough at the back end to fix the problem at the front: high net immigration.

[Daytr]

Bill English over the weekend saying first home buyers need to be patient to get into the market.
If they had been patient in 2012 they would be paying $400,000 more now for the average house in Auckland!
The arrogance of the man is incredible.
Blaming everyone else except their own immigration policy that is the one & only driver of this property bubble that is creating a myriad of problems for the average citizen. And even those who are benefitting could be caught out in the biggest property bubble this country has seen. The banks no its an issue, in fact everyone except the government know its an issue. Its also time that Labour got off the political fence in regards the record level of immigration.

[fungus pudding]

Bill English over the weekend saying first home buyers need to be patient to get into the market.
If they had been patient in 2012 they would be paying $400,000 more now for the average house in Auckland!
The arrogance of the man is incredible.

I don't recall him advising patience in 2012.
It's actually good advice at this point in the cycle.

[Daytr]

Of course it is, as property is in a bubble particularly in Auckland & Queenstown, a bubble that this government has created.
Perhaps the advice is that no one should be buying in this market. The RBNZ obviously think there is a massive risk with the new LVRs coming in.
However unless they turn down the immigration tap is the market going to change?
So who will buy? Cashed up foreigners.
Will the market just cool eventually as the government hopes? If it does it doesn't make the market any more affordable for domestic or first home buyers. They could be shut out for a long time to come.
Nine fold average earnings for the average house in Auckland is a massive issue.
So what are they being patient for? A crash?

I don't recall him advising patience in 2012.
It's actually good advice at this point in the cycle.

[fungus pudding]

Of course it is, as property is in a bubble particularly in Auckland & Queenstown, a bubble that this government has created.

The 'bubble' exists throughout the western world. It's a result of low interest rates. The time to buy real estate is when interest rates are high. The higher the better.
'Interest rates and real estate are the opposite ends of a see-saw'. (Fungus Pudding - circa 1970)

[winner69]

Heck - even the good guys are going off Key

Good eh EZ

http://thespinoff.co.nz/featured/19-...RWB3FM.twitter

[winner69]

We might be getting there EZ

Media talking more about Marx

@bryce_edwards: Is Marxism becoming more important in NZ? Here's some stats on how often "Marx" etc has been used in NZ print media: https://t.co/aIleqddeb4

[Daytr]

So why is NZs house prices rising faster than most of the Western world when our interest rates are actually one of the highest?
Simple, record level immigration .
Historically when house prices have been high, interest rates have been raised to reign them in & lowered in the opposite, so your premise is completely inaccurate, for residential property anyway .

The 'bubble' exists throughout the western world. It's a result of low interest rates. The time to buy real estate is when interest rates are high. The higher the better.
'Interest rates and real estate are the opposite ends of a see-saw'. (Fungus Pudding - circa 1970)

[elZorro]

So why is NZs house prices rising faster than most of the Western world when our interest rates are actually one of the highest?
Simple, record level immigration .
Historically when house prices have been high, interest rates have been raised to reign them in & lowered in the opposite, so your premise is completely inaccurate, for residential property anyway .

FP doesn't believe in highly correlated graphs, Daytr. But I think FP is also wrong in his premise. Surely you jump into property at the start of a long period of low interest rates. If you knew that was a likely occurrence. As we've seen, you get a big capital gain, and have to pay the least interest for it.

[elZorro]

We might be getting there EZ

Media talking more about Marx

@bryce_edwards: Is Marxism becoming more important in NZ? Here's some stats on how often "Marx" etc has been used in NZ print media: https://t.co/aIleqddeb4

Apparently there's a new mood on the street. Around here anyway. The Labour-Greens have a good chance this time.