FBU - Fletcher Building

[dreamcatcher]

GS Downgrades FBU NZ$4.70 with SELL recommendation ........... no surprise

Don't hold and not likely too

[Timesurfer]

Fletchers must be making concrete coffins? Or maybe they have contract for building hospitals in China?
Or is it just that all the bad news in the world is taking the media heat off them?

[traineeinvestor]

Fletchers must be making concrete coffins? Or maybe they have contract for building hospitals in China?
Or is it just that all the bad news in the world is taking the media heat off them?

I'd imagine that some of Taxcinda's gazillion dollar election lolly scramble will pass through their fingers. Based on past performance, I'm not sure how much will stick.

Disclosure: small holding

[tim23]

I'd imagine that some of Taxcinda's gazillion dollar election lolly scramble will pass through their fingers. Based on past performance, I'm not sure how much will stick.

Disclosure: small holding

The Taxcinda thing really is bit silly - I don't pay any more tax since the coalition became government...

[traineeinvestor]

The Taxcinda thing really is bit silly - I don't pay any more tax since the coalition became government...

Lucky you - unfortunately, I own a rental property, have to put petrol in the hire car whenever I'm in NZ etc so I am paying more tax.

[Blue Skies]

Lucky you - unfortunately, I own a rental property, have to put petrol in the hire car whenever I'm in NZ etc so I am paying more tax.

Hey can understand your outrage at having to bring your rental property up to scratch with insulation & proper heating, but here in NZ we have levels of preventable 3rd world diseases like Rheumatic fever, & meningococcal which frankly are a disgrace and way out of step with the rest of the developed world. The rates of these infectious diseases rose by over 50% between 1989 and 2008 and public health specialists have been begging successive govt’s to do something about the poor quality cold damp (mainly rental)housing stock which is directly contributing to 17,000 extra hospital admissions a year & costing the country tens of millions in avoidable healthcare costs. NZ couldn’t continue on ignoring this, against all public policy medical advice & that’s why this govt has done something about it. It will have huge benefits for the country but can understand your resentment as a property investor, why would you spend the money if you didn’t have to.
As for the user pays extra petrol tax, no one likes increased costs but you might not have noticed National also raised petrol taxes actually quite a lot & with cities like Auckland at gridlock, many commuters would prefer to pay a few extra dollars to get the roads fixed. Fortunately there’s a huge long overdue infrastructure catch up coming.

[peetter]

Hey can understand your outrage at having to bring your rental property up to scratch with insulation & proper heating, but here in NZ we have levels of preventable 3rd world diseases like Rheumatic fever, & meningococcal which frankly are a disgrace and way out of step with the rest of the developed world. The rates of these infectious diseases rose by over 50% between 1989 and 2008 and public health specialists have been begging successive govt’s to do something about the poor quality cold damp (mainly rental)housing stock which is directly contributing to 17,000 extra hospital admissions a year & costing the country tens of millions in avoidable healthcare costs. NZ couldn’t continue on ignoring this, against all public policy medical advice & that’s why this govt has done something about it. It will have huge benefits for the country but can understand your resentment as a property investor, why would you spend the money if you didn’t have to.
As for the user pays extra petrol tax, no one likes increased costs but you might not have noticed National also raised petrol taxes actually quite a lot & with cities like Auckland at gridlock, many commuters would prefer to pay a few extra dollars to get the roads fixed. Fortunately there’s a huge long overdue infrastructure catch up coming.

I can assure you that no government regulation so far made my cold and damp rental any better . Only thing working is me spending heaps of money on heating and dehumidifier. Current government made insulation rules for rentals are a joke. I got 2 different companies tell me our 3cm styrofoam floor insulation with 0.5cm gaps in between is up to the code .

[bigbruce]

Lucky you - unfortunately, I own a rental property, have to put petrol in the hire car whenever I'm in NZ etc so I am paying more tax.

You pay less tax!,All expenses can be off set.
will you pay tax on capitol gain on your rental? Residential property in major centres have increased in value $350k + over past 5 years. I find residential LL miserable bastards.As a commercial LL, to attract and retain tenants you spend to maintain/upgrade property.Why are residential LL so reluctant

[artemis]

Hey can understand your outrage at having to bring your rental property up to scratch with insulation & proper heating, but here in NZ we have levels of preventable 3rd world diseases like Rheumatic fever, & meningococcal which frankly are a disgrace and way out of step with the rest of the developed world. The rates of these infectious diseases rose by over 50% between 1989 and 2008 and public health specialists have been begging successive govt’s to do something about the poor quality cold damp (mainly rental)housing stock which is directly contributing to 17,000 extra hospital admissions a year & costing the country tens of millions in avoidable healthcare costs. NZ couldn’t continue on ignoring this, against all public policy medical advice & that’s why this govt has done something about it. It will have huge benefits for the country but can understand your resentment as a property investor, why would you spend the money if you didn’t have to.....
.

There is an elephant in the room. A mammoth really. And it is a really serious risk factor for infectious diseases and also other health vectors. And guess what, it is never mentioned because it is harder to resolve than forcing tenants to pay for rental upgrades. Yes tenants because landlords pass on costs.

The mammoth is overcrowding and there is plenty of NZ research, and not just from the biased and well funded Otago Uni Public Health people. For example. Department of Health research based on 2013 census data - just on 400,000 people live in crowded conditions with children over represented.

Who knew? Not exactly reported in the media is it.

So landlords can improve the health of their tenants by terminating the tenancy if it is overcrowded. Fortunately there is a queue of other tenants waiting.

[Blue Skies]

There is an elephant in the room. A mammoth really. And it is a really serious risk factor for infectious diseases and also other health vectors. And guess what, it is never mentioned because it is harder to resolve than forcing tenants to pay for rental upgrades. Yes tenants because landlords pass on costs.

The mammoth is overcrowding and there is plenty of NZ research, and not just from the biased and well funded Otago Uni Public Health people. For example. Department of Health research based on 2013 census data - just on 400,000 people live in crowded conditions with children over represented.

Who knew? Not exactly reported in the media is it.

So landlords can improve the health of their tenants by terminating the tenancy if it is overcrowded. Fortunately there is a queue of other tenants waiting.

Sure, no question overcrowding is a well known problem & contributing factor, but cold damp mouldy houses are going to cause rheumatic fever & other serious infectious skin and respiratory diseases whether the house is overcrowded or not.
We can fix the latter quickly & easily with proper insulation and heating, saving a lot of human misery and healthcare costs, the former going to take much longer, so why not?
Don't quite understand what you've got a bee in your bonnet about.
And yes & sadly we know there's many avaricious landlords (though not the decent ones) who pass all the costs of upgrading their rental property investments onto the tenants.