ADRIAN ORR our NEW RBNZ GOVERNOR

[winner69]

Adrian appears not too have disclosed all his financial interests as part of his role

Has a couple of properties along with a Kiwisaver deposit …..one might say he wins and loses when he changes OCR

https://businessdesk.co.nz/article/o...-mary-and-more

Might be paywalled

[TeslaGod]

Adrian appears not too have disclosed all his financial interests as part of his role

Has a couple of properties along with a Kiwisaver deposit …..one might say he wins and loses when he changes OCR

https://businessdesk.co.nz/article/o...-mary-and-more

Might be paywalled

Did they give a value or networth? It's easy to own companies/ shares under another name trust/lawyer's etc in the islands.

[TeslaGod]

The angst has started.

https://www.msn.com/en-nz/money/home...?ocid=msedgntp

Pressure on Adrian to drop rates and take them negative.

Hard times for First Home Buyers?

https://www.msn.com/en-nz/news/natio...?ocid=msedgntp

Here is a thought experts what if house prices dropped then mortgages could be smaller, much like the 70s

You obviously weren't living in 1975 when the average wage was $98.97 trying to save a 33% deposit for an average NZ house costing $ 24,300.00

It's never been easy buying a house.

[Aaron]

You obviously weren't living in 1975 when the average wage was $98.97 trying to save a 33% deposit for an average NZ house costing $ 24,300.00

It's never been easy buying a house.

Agreed it is always difficult getting on the ladder but using your figures of 24,300/5,146. House price just under 5 (4.7) times earnings. Currently I think it is about 10 times. Which would I prefer to pay 5 times at 20% or 10 times at 5% at the end of a long term debt cycle.

Bring back 1975 is easy to say now we have witnessed what happened since.

Still doesn't change the retarded monetary policy driving up asset prices and debasing currency.

[Aaron]

Adrian appears not too have disclosed all his financial interests as part of his role

Has a couple of properties along with a Kiwisaver deposit …..one might say he wins and loses when he changes OCR

https://businessdesk.co.nz/article/o...-mary-and-more

Might be paywalled

Paywalled but with only a couple of properties Adrian may need to boost house prices for his retirement.

[TeslaGod]

Agreed it is always difficult getting on the ladder but using your figures of 24,300/5,146. House price just under 5 (4.7) times earnings. Currently I think it is about 10 times. Which would I prefer to pay 5 times at 20% or 10 times at 5% at the end of a long term debt cycle.

Bring back 1975 is easy to say now we have witnessed what happened since.

Still doesn't change the retarded monetary policy driving up asset prices and debasing currency.

Your not taking into account the advances in technology today.

In the 70s you would have had to work much harder for every dollar earned.

Things we take for granted today like a bank or share transaction which takes seconds now, would take hour's/days/weeks longer in time, energy and cost to do the same task.

All these can add up over a year.

This benefits you to be more productive with your time and enables access to more income (or more time wasted on social media eating smashed avacado on toast)

Which is why we have flattening inflation longer term leading to higher asset prices.

As I have stated housing is affordable it's regulation making it harder to buy on purpose.

[winner69]

….l.l

In the 70s you would have had to work much harder for every dollar earned.

Sure was much harder work in the 70’s …not like the easy life (particular the younger generations) one has these days


Sorry TGod…..probably not what you were actually saying

[Aaron]

Your not taking into account the advances in technology today.

In the 70s you would have had to work much harder for every dollar earned.

Things we take for granted today like a bank or share transaction which takes seconds now, would take hour's/days/weeks longer in time, energy and cost to do the same task.

All these can add up over a year.

This benefits you to be more productive with your time and enables access to more income (or more time wasted on social media eating smashed avacado on toast)

Which is why we have flattening inflation longer term leading to higher asset prices.

As I have stated housing is affordable it's regulation making it harder to buy on purpose.

Hard to argue with someone who is all over the place. I pointed out houses are waay more expensive than they were back in 1975 and you come back with how hard life was in 1975. How much harder you worked and how technology has made things cheaper and easier. (obviously not the cost of a house). Does this somehow justify the RBNZ driving up house prices by dropping interest rates every time it looks like asset prices might fall over the last 30 years. I am struggling to see any continuity or consistency in your argument. If you are hoping to wear me down with bull**it it is working.

Flattening CPI inflation has very little connection to asset price inflation (as asset prices are at best only a small part of the consumer goods basket). Asset price inflation is through the roof and has been consistently so for houses for the last 20 years nearly double wage inflation.

Slowing inflation could be due to many things, an aging demographic, technological improvements, too much debt.

As far as not working as hard I think if you checked your statistics instead of pulling fairy tales from your derriere you might find people working very hard just to get by in this day and age.

https://www.productivity.govt.nz/ass...he-numbers.pdf

https://www.stuff.co.nz/business/125...r-productivity

Blaming regulation for being solely responsible for the cost of housing would be a stretch it is partly responsible for land supply constraints and costs, but I doubt it is the main driver of house price increases.

Part way through the article below is a short clip from Stanley Druckenmiller. I am unsure if he is as wealthy as you but he has an interesting take on the US Federal reserve and I think the RBNZ is reading from the same playbook.

https://www.zerohedge.com/markets/us...e-middle-class

[JBmurc]

Agreed it is always difficult getting on the ladder but using your figures of 24,300/5,146. House price just under 5 (4.7) times earnings. Currently I think it is about 10 times. Which would I prefer to pay 5 times at 20% or 10 times at 5% at the end of a long term debt cycle.

Bring back 1975 is easy to say now we have witnessed what happened since.

Still doesn't change the retarded monetary policy driving up asset prices and debasing currency.

Yes I'm not as crusty as these guys that worked and purchased homes during the 70's ... but I do remember the mid-late 90's when I was offered a house (I was flatting with the owner and another person) ...and many homes during the 90's in Invercargill I could have easy purchased a house from my yearly seasonal wage at the time was around twice what the cheaper end of the market homes where worth ... fast-forward to the present and the same house is worth least 4x times what I make from the same export focused seasonal job ... yes money is cheaper so that has made it much easier for the FHB to service these massive morg's>>>> but our incomes esp. for the primary industries haven't moved much at all over 20yrs+ ( can't just jack the prices or clip the inflated ticket to higher incomes!!!!)..

[TeslaGod]

I purchased my first home in 2001.

Then many,many,many more over the next 2 decades.

Apart from dealing with annoying vendors and real estate agents it was (relatively) easy.I miss those days.

I even purchased more after I retired, I have never been one for excuses.

I guess everyone to there own.