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  1. #1
    FEAR n GREED JBmurc's Avatar
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    Default Foreign buyers estimated at 29%

    https://thestandard.org.nz/foreign-b...timated-at-29/


    Also you have to wonder how many Companies and trading trusts have been set up here in NZ with foreign stakeholders investing billions..
    People don't have ideas, ideas have people

  2. #2
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    Yeah, you just have to look at the list of foreign looking owner names

    Joking aside, it's a serious issue. I came from a country (England) whose government gave the country away (It may be a surprise to some readers to hear that there are a number of no-go areas for white people in England and I have experienced a fair bit of racism). It is very wrong to me that Kiwi's can't afford houses because of foreigners investing in a country they aren't even a resident in. Perhaps we could somehow register the largest population as Maori so we don't have white guilt about making political policy to protect the country's indigenous interests (By which I mean people born in NZ)? lol

    It would be nice to see some policy to say that only residents can own property in NZ, like they have in other Pacific countries (except less race focused). Otherwise, I could easily see in the distant future all NZ land being owned by foreigners and everybody renting - the rich only get richer, right? And people are only rich because others have less than them, not because they have more.

  3. #3
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    With all the turmoil in the world over the last several years.....
    And NZ being at the bottom of the world and a long way away from global issues......
    It seems alot of people with money are looking for a safe haven.....
    And NZ is a safe haven and their currency is finding its way to NZ.
    There is nothing wrong with this.
    Howerever...... there are people in NZ that cant, couldnt, didnt want to, are unable to...... find a spot that they can gain from the immigration wave.
    But then..... how many kiwis can afford a house and section in other first world principal cities?
    Imagine a family cashing their Mt Eden home in and buying a similar home with land in New York or Paris or Frankfurt.... """dreaming"""
    NZ is no longer a pacific island holiday destination.
    Free, cheap or government subsidized stand alone housing with front yard, back yard and grapefruit trees in Auckland is now a fantasy.
    Yet some political parties think every kiwi has the right to have this in Auckland.
    Whats wrong with a 1/4 acre in Dunedin?

  4. #4
    Ignorant. Just ignorant.
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    Quote Originally Posted by neopoleII View Post
    With all the turmoil in the world over the last several years.....

    Whats wrong with a 1/4 acre in Dunedin?
    The quarter acre sounds fine. As for Dunedin. . .

    Seriously, New Zealand has no way to tie property ownership to nationality or residency. Even if there were such a thing as a national ID card, there would still be the obscuring effect of trusts, companies, and other non-individual forms of ownership.

    So anecdotal evidence is all that there is to go on.

  5. #5
    Senior Member Valuegrowth's Avatar
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    I doubt new generation in NZ can afford to buy their first home except few. I find serious housing market issues in many countries such as UK, New Zealand, Australia and Canada etc. We find similar situation in some Asian countries as well. Definitely,we should see some sort of crisis during next five to 10 years.

  6. #6
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by MARKETWINNER View Post
    I doubt new generation in NZ can afford to buy their first home except few. I find serious housing market issues in many countries such as UK, New Zealand, Australia and Canada etc. We find similar situation in some Asian countries as well. Definitely,we should see some sort of crisis during next five to 10 years.
    best outcome imho is a small 10% pullback and a flat market for as many decades as we need to see incomes to catch up .... worst is a major crash of course with all the pain that will course be affected on average kiwis....
    Last edited by JBmurc; 13-09-2016 at 11:22 AM.
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  7. #7
    Senior Member Valuegrowth's Avatar
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    I agree with you. However, anything can happen in any asset category depend on the situation at that time.

    Quote Originally Posted by JBmurc View Post
    best outcome imho is a small 10% pullback and a flat market for as many decades as we need to see incomes to catch up .... worst is a major crash of course with all the pain that will course....

  8. #8
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    https://www.stuff.co.nz/business/pro...may-be-foreign

    Not sure if I understand what he is saying here.

    "Auckland and Queenstown have the highest proportion of sales to overseas buyers and the smallest proportion of sales to New Zealand citizens.
    But Smith said it was probably only a coincidence that they were also the areas with the highest house prices in the country. "If anything, those prices probably reflect more what's happening globally than anything domestic.""


    Probably I am the thicky but would you suspect a correlation between more foreign buyers and high house prices rather than it being a mere coincidence. Maybe the statement was written incorrectly because it is justified by the quote "it probably reflects what is happening globally" Maybe he means easy money and low interest rates are pushing up prices globally. Akld and queenstown following the trend up faster than the rest of NZ 20% foreign buyers and this is likely to be coincidental ???? f**ken retarded statement if you ask me.

    Hopefully we hear about the next housing crisis sometime soon with a crisis as prices drop and houses become more affordable. Looks like wages might rise to meet them as well. Upsetting for the greedy generation but good news for the future generations of NZ. Maybe if young people could afford a house they might have a family then we could close or reduce the immigration spigot. 5million is more than enough for a country the size of NZ.

    Reserve bank doing its best to keep the party going with talks of lowering interest rates if anything goes down.
    Last edited by Aaron; 29-06-2018 at 08:13 AM.

  9. #9
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by Aaron View Post
    https://www.stuff.co.nz/business/pro...may-be-foreign

    Not sure if I understand what he is saying here.

    "Auckland and Queenstown have the highest proportion of sales to overseas buyers and the smallest proportion of sales to New Zealand citizens.
    But Smith said it was probably only a coincidence that they were also the areas with the highest house prices in the country. "If anything, those prices probably reflect more what's happening globally than anything domestic.""


    Probably I am the thicky but would you suspect a correlation between more foreign buyers and high house prices rather than it being a mere coincidence. Maybe the statement was written incorrectly because it is justified by the quote "it probably reflects what is happening globally" Maybe he means easy money and low interest rates are pushing up prices globally. Akld and queenstown following the trend up faster than the rest of NZ 20% foreign buyers and this is likely to be coincidental ???? f**ken retarded statement if you ask me.

    Hopefully we hear about the next housing crisis sometime soon with a crisis as prices drop and houses become more affordable. Looks like wages might rise to meet them as well. Upsetting for the greedy generation but good news for the future generations of NZ. Maybe if young people could afford a house they might have a family then we could close or reduce the immigration spigot. 5million is more than enough for a country the size of NZ.

    Reserve bank doing its best to keep the party going with talks of lowering interest rates if anything goes down.
    Yeah don't you just love it ... we keeped rates low to help spur the rise in property ....but if they dare come down to anywhere normal somewhat affordabe we will ease rates leading to a lower NZD in turn increasing inflation across all consumerables Fuel $3 here we come
    and increasing foreign capital value to snap up all the deals.
    People don't have ideas, ideas have people

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