Maybe those ex-Pat Brit pensioners who are facing Brexit problems in Spain & Portugal will be looking for retirement villas in NZ?
https://www.euronews.com/2021/02/28/...brexit-reality
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Maybe those ex-Pat Brit pensioners who are facing Brexit problems in Spain & Portugal will be looking for retirement villas in NZ?
https://www.euronews.com/2021/02/28/...brexit-reality
I applaud and welcome the changes coming to the RMA. As i've spoken loudly before, the RMA has been a key stumbling block for increasing the supply of housing in NZ. I gave many examples of what Canada has done to remove red tape. I don't know the details of the new rules and how they will abolish the RMA, but from what i've heard, (correct me if i'm wrong), up to 50% site coverage, new increased building height (for 3 story builds!!!) on conventional residential lots. I have a 790m2 lot where I get new real estate agents knocking on my door every few months. I had building plans some 4 or 5 years ago but the PIM came back too restrictive and I told the architects to hold. My wish was to change the RMA to make building easier... How fast can both gov't parties can agree on?
On a per title basis, I do not think this will increase the price of houses in NZ (assuming housing supply is boosted). The trend will be smaller dwellings and lower price points for young families in these new builds.
Housing markets going to get real feral real fast if swap rates in the wholesale money markets don't get better in a hurry.
Could have a flood of over leveraged homeowners and property developers flooding the market/technically this could tank the economy, the RBNZ needs to let it happen before stepping in.
FYI I want the housing market to tank.
I'm Cashed up ready to go hard over the next 12/24 months .
Unfortunately there are always buyers who think property prices only go higher. Let's hope L2V rules provide sufficient buffer, because the NZ government has let NZ residential property dominate the investment environment to such a great extent.
Have you sold all your NZ residential real estate?Quote:
FYI I want the housing market to tank.
I'm Cashed up ready to go hard over the next 12/24 months .
No just one in Wellington and one recently in Auckland to developers.
Holding the majority of my real estate portfolio adding to my share portfolio, quite stressful but very exciting and profitable.
In the off chance the real estate market turns ugly I'm very well capitalized and ready to purchase more if housing becomes heavily discounted over the next couple of years.
Unfortunately I see the RBNZ stepping in.
I have posted on this forum and predicted negative interest rates will be coming in the coming years, and they will.
I do feel bad for FHBs with the DTI coming, the systems designed for me not them unfortunately.
You seem to be a very confused individual...the market could crash and it'll be a blood bath, interest rates are going higher, the Reserve Bank is going to step in, interest rates are going negative, swap rates must get better in a hurry.......you're all over the place. But as usual your posts are all "me, me, me, me" and how whatever happens you'll be a winner. Maybe you are like the proverbial cockroach after a nuclear holocaust - always ready to come crawling out from under some rock.
As I've posited here before, you come across as desperately insecure and desperate to have people read about how wealthy you are and how well you are doing and will do. Desperately insecure....and it's all ultimately pointless as this is an anonymous forum and nobody knows who the heck you are.
“If interest rates get low enough as they did in New Zealand, and they have around the world, then actually movements in interest rates at that level have very limited impact.
“Is there really much difference between your base rate being quarter of a basis point, minus quarter of a basis point? Psychologically it’s not a huge amount of difference is it,” (John) Key said during a webinar to launch a New Zealand Initiative report, Walking the Path to the Next Global Financial Crisis, on Thursday.
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Makes me why the DH's at The Reserve Bank kept lowering interest rates even when they were at crazy low levels; all they've done is to encourage a bunch of frenzied speculators to take on far too much debt. Negative interest rates: most people have now woken up to the idiocy of that kind of thinking....it's like your accelerator has fully hit the floor so you cut a hole in the car to keep pushing it down - it's absurdist & it only encourages out of control speculation and runaway inflation. MuskRat is dreaming about it happening with great fondness, meanwhile interest rates are on their way up.