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Taking on debt was certainly the way to accumulate equity in the past, in an environment of falling interest rates and surging asset (especially residential property) prices from the 1980’s onwards. However from today, whether this will continue to the same extent without workforce productivity gains and/or a shift away from income tax to capital or estate taxes, seems quite speculative to me.
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Australia appears to have the same problems around housing and immigration.
https://www.msn.com/en-nz/news/other...c55a62fa&ei=51
He brings up an important issue with figures to back up his concerns but media focus on some dummy posting online.
You're a racist bigot, Barefoot,' she wrote. 'What a load of claptrap. You've taken a complex and highly emotive issue and boiled it down to one simplistic factor: housing'.
She does not really state what the issue is and I guess would not know herself. But the statement no matter how dumb raises controversy and that is what sells papers. The media are like sh*t stirrers not truth seekers.
The front page of the herald had a headline that the Ombudsman favoured the banks over their clients and then went into the emotive story about some poor guy who fell for a scam.
To balance the article they should have asked him what happened and why did he get sucked in and does he have any personal responsibility for getting scammed?
Admittedly the headline did the trick as I was immediately outraged by the ombudsman's actions and read some of the article until I realised it was a nothing burger.
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The govt giveth tax cuts for landlords but will they taketh away the $2.34bill landlord subsidy? Is it keeping a roof over poor people's heads or is it allowing landlords to keep cranking up the rent?
https://www.nzherald.co.nz/business/...FGV7MVZBDBM7U/
Now might be the time to do it as landlords will be reducing rents due to interest deductibility coming back. I think denying the deduction was going straight onto the tenants if I remember the news articles at the time.