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  1. #3191
    Legend Balance's Avatar
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    Quote Originally Posted by Vagabond47 View Post
    Refer back to the bit where I pointed out that the RBNZ controls interest rates, not the PM. So why you bring that up I really don't understand.

    Oh, because you have an axe to grind...
    Of course, I have an axe to grind - that's what this thread (read Labour/NZ First Government?) is surely about!

    I made 4 points as to why this government has lost one of the major platforms (housing) it stood on to win the last election, and you countered on point 4 that it's not the PM's fault as it's the RBNZ?

    Or are you just making an observation in which case, I misread your response.

  2. #3192
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    Sales of local assets to foreigners reach highest level in 2019, under a Government fighting an election on "stopping asset sales". Instead 2019 saw approval numbers increase from 82 (2018) to 131 (2019) and the value rising from $10.1B to $17.1B.
    Another complete fail to walk the talk from this useless Government

  3. #3193
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    Quote Originally Posted by iceman View Post
    Sales of local assets to foreigners reach highest level in 2019, under a Government fighting an election on "stopping asset sales". Instead 2019 saw approval numbers increase from 82 (2018) to 131 (2019) and the value rising from $10.1B to $17.1B.
    Another complete fail to walk the talk from this useless Government
    They are far from useless. Au contraire - for a fair chunk of your income, and a reasonable chunk of your expenses they provide a never-ending source of entertainment and amusement. And fair exchange is no robbery!

  4. #3194
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    Quote Originally Posted by Balance View Post
    Of course, I have an axe to grind - that's what this thread (read Labour/NZ First Government?) is surely about!

    I made 4 points as to why this government has lost one of the major platforms (housing) it stood on to win the last election, and you countered on point 4 that it's not the PM's fault as it's the RBNZ?

    Or are you just making an observation in which case, I misread your response.
    Yes, I pointed out that the construction rate of house was still increasing at least till the middle of this year and the RBNZ controls interest rates (to a degree), not the PM, then you came back with some hogwash question about what were interest rates doing during JKs govt. (they were mostly going sideways (after a huge drop post GFC) for the first 4 years, then RBNZ increased them for a year or so, then they held steady for a bit, then they dropped until National was kicked out) and house prices were rocketing for most of that time. Again, why is that relevant?

    Not going to defend Labour, htey are **** and have to go. I just don't want National either.. they are no better.

  5. #3195
    Legend Balance's Avatar
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    Quote Originally Posted by Vagabond47 View Post
    Yes, I pointed out that the construction rate of house was still increasing at least till the middle of this year and the RBNZ controls interest rates (to a degree), not the PM, then you came back with some hogwash question about what were interest rates doing during JKs govt. (they were mostly going sideways (after a huge drop post GFC) for the first 4 years, then RBNZ increased them for a year or so, then they held steady for a bit, then they dropped until National was kicked out) and house prices were rocketing for most of that time. Again, why is that relevant?

    Not going to defend Labour, htey are **** and have to go. I just don't want National either.. they are no better.
    Relevance is that there are those out there who argued that the National Government was responsible for the spike in house prices in NZ, pricing houses out of reach.

    Your point is that it's falling interest rates driving house prices, right?

  6. #3196
    Senior Member Marilyn Munroe's Avatar
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    Some underarm bowlers have a different view of our Prime Minister than many over here.

    https://www.abc.net.au/news/2020-01-...overy/11863254

    Boop boop de do
    Marilyn
    Diamonds are a girls best friend.

  7. #3197
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    Quote Originally Posted by Marilyn Munroe View Post
    Some underarm bowlers have a different view of our Prime Minister than many over here.

    https://www.abc.net.au/news/2020-01-...overy/11863254

    Boop boop de do
    Marilyn

    But most haven't.

  8. #3198
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    Quote Originally Posted by Balance View Post
    Relevance is that there are those out there who argued that the National Government was responsible for the spike in house prices in NZ, pricing houses out of reach.

    Your point is that it's falling interest rates driving house prices, right?
    Thats certainly one big driver, as is excess immigration, and the lack of capital gains tax. Not to mention the propping up of the landlords with accomodation supplements instead of building more state houses

  9. #3199
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    Quote Originally Posted by Vagabond47 View Post
    Thats certainly one big driver, as is excess immigration, and the lack of capital gains tax. Not to mention the propping up of the landlords with accomodation supplements instead of building more state houses
    Changes to LVRs also a big driver. Compare bank lending for rentals in 2016 to now (Reserve Bank report c31). Not that the LVR changes achieved the desired result in the property market - lower or stable prices basically.

    Accommodation Supplement. Going by the number of rent arrears cases in the Tenancy
    tribunal (tens of thousands a year) and not forgetting the tenants that are taken to non-published mediation or just get 90 days notice, not all tenants pay the AS to their landlord. When the AS came in it applied to private and public rentals. All tenants on the same footing and the private sector would provide for most tenants. Labour changed that, brought back income related rent subsidy for state tenants at 3 x the AS subsidy. Couple that with significant other costs and compliance on landlords, and not hard to predict what has happened.

    Apart from rent subsidies, public housing is very expensive for the taxpayer to build, manage and maintain. Compare that with the cost to the taxpayer of providing private rentals.

  10. #3200
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    Quote Originally Posted by fungus pudding View Post
    But most haven't.
    Only on your side of the fence

    westerly

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