Come on DYOR and you will see a few labour policies put into place to do what bull said.
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Dear bull...your comment about J destroying the housing mkt.Frankly are you mad !.
A huge amount of the nations capital is associated with residential housing.
I believe NZ inc relies on milk powder...tourists....and property prices.
Mate are you familiar with a chap called Bernhard Hickey ?
He wrote a very interesting about this last year.
cheers.
House prices were and are grossly overvalued. It was the number one issue for New Zealanders not that long ago. Labour has got many things wrong, but falling house prices is not one of them.
she destroyed the housing market for ordinary people in NZ.
many nz people used housing as a get ahead vehicle and to save for retirement
even recent law allowing big business to be able to claim int deduction on rentals but not ord folk eg kpg is another example of j destroying peoples lives and hopes to get ahead and sending a market into the hands of big business only
hipkins recent comments about helping people get ahead again should include int deduction again as this has always been traditional way in nz to get ahead ... time will tell if he is full of sh.t
The housing stock has increased recently at the fastest rate in a long, long time.
Not having policies aimed at bringing the cost of housing down isn't the same as helping house prices increase, nor actually stop them from continuing their decrease for a while yet.
dear bull.
We are on different planets here.You say "ordinary people'...are you serious ....are you taking the pee.
Do you honestly believe that having a staggeringly world beating country of house price appreciation is something to celebrate ????!!!!!
Do you believe a sustainable economy should be reliant on house price increases !
This will be my last post on this thread.
If no policies many problems seen ? or not ? ;)
Have policies .. looks like more problems ;)
Or solve problem make them up on the fly or better still shoot from the hip ? ;)
If it all turns bad or get caught out, why not try to flush it down the twyford ?
then try to deny the whole episode even occurred .. or there were ever any issues
imagine the Property market linked to the sector is a fly on the wall
but wait there are more coming in through the window. Got one, walk away
problem solved. But wait there are many more, so issue not fixed.
Time to get flame thrower out. Problem thought to be fixed.
Wall burned out but still more flies. Give up .. can't have got the right ones :)
During the Covid fall in in interest rates, Certainly Labour could have put a cap on residential mortgage lending and the LTV easing should not have gone ahead. In NZ especially that was an invitation for a residential land price bubble and hey presto! It happened. From April - December 2020 LTV restrictions were lifted. The RBNZ/Government waited too long before tightening LTV.
https://www.rbnz.govt.nz/regulation-...o-restrictions
of course a economy shouldnt be overly reliant on housing for growth as a big % of GDP , but it is in NZ due to lack of policy to encourage small business to grow to big business.
house prices will rise over time due to inflation so cant stop that but correct policy can stop run away prices.
https://www.nzherald.co.nz/nz/brings...KHDWVHJJYDIHE/
As per U current govt policies responsible for this kind of pain ? Really ....IMO policies of all the historic govts including Nationals have equal role to play to make only way to save is property syndrome which is most imbibed in NZ then anywhere else ...it was so easy to leverage your credit rating with Banks to take as much loan as possible on even interest only mortgages as property was only up kind of investment over a reasonable period ....almost everyone was on this gravy train thus making the prices unrealistic compared to even higher per capita countries ...I fully understand most here are big " Landlords " and they get offended or threatened when someone tries to bring some sense into one sided market . Even U as PM of NZ wud have taken strong steps to WEAN away people from investment property craze ...RBNZ always requested Govt to take policy decisions especially against property market so that they can do their job with smaller rate hikes to control inflation etc ...as housing market was the biggest source of expanding money supply ...they needed Targeted policies against this particular asset class for obvious reasons . As we are over dependent on property for our wealth thus we feel most pain with rate hikes too ...it took 50-70 years to create this mindset ...it will take sometime to correct it ...this shud be helping Shares and productive assets long term . I fully support this change ...though understand it will cause some pain in the interim ...but its the right way to go for long term good of NZ
last mth performance
RAD 27%
RYM 13%
OCA 10%
SUM 8%
ARV -3%
whats up with arv ? opportunity for catch up or something wrong ?
retirement sector stocks moving higher again today. amazing how jacinda leaves and a more down to earth fella like hipkins arrives and says some positive comments around property and the sector begins to takes off. will it continue guess we will see as the yr unfold's.
eithier its a oversold bounce or a geniune bargain time ?