Labour govt 2020-23

[stoploss]

'Heavily subsidised' Singaporean housing: That's the answer according to Balance. Another 'solution' where the taxpayer is on the hook is not a solution at all. Just raise interest rates ffs!! Stop with the passive bail-outs of people who are living the life of Riley but not wanting to pay for it. Housing should not be a get-rich-quick scheme and an ATM, which is how they are being used in NZ.

https://www.scmp.com/week-asia/econo...ing-singapores

Sky-high prices: the million-dollar question facing Singapore’s public housing

Despite the coronavirus and a bumper recession, a record number of public housing flats were resold by their owners for more than S$1 million in 2020
That’s great for those who buy heavily subsidised public units then sell for a personal profit, but bodes ill for a system aspiring to affordable housing for all

Derek Wong

Published: 8:00am, 18 Jan, 2021



[/I]

Logen if mortgage rates went to 7.5 % overnight , hows that going to solve the problem the 21,000 that are on the emergency housing waitlist face ?
Supply is the issue.

[Logen Ninefingers]

Logen if mortgage rates went to 7.5 % overnight , hows that going to solve the problem the 21,000 that are on the emergency housing waitlist face ?
Supply is the issue.

Are you a capitalist? Because in capitalism, investor / depositor funds provide the capital for investment....not the magic money tree at the central bank!!

It is my right to earn a fair return on deposited funds....but an unelected central banker has decided that over-leveraged borrowers and zombie businesses need to be subsidised and bailed-out.

Interest rates should never have been kept pinned to the canvas all through the years of the 'rock star economy' and onwards right up to COVID. Going into the pandemic, the OCR was at a pathetic 1% and our celebrity economists were screaming for government stimulus. Again, this was before the pandemic.

Fair enough earning some capital gain on your house. But this is the biggest rort in history.

If house prices - and rents - keep going up, that emergency wait list will get worse. No-one can afford this fiasco. Not long-term. Not the social consequences. Not the impact it is having on our debt levels and monetary system.

If you don't think supply is adequate, why are we importing tens of thousands of people into the country every year no matter who the government is? Our infrastructure cannot cope. It is all done to keep this ponzi housing market up. Anything they do to 'stabilize' it, fuels it.

Let's start putting interest rates up gradually, and remove deposit grants paid by the taxpayer. Something must be done to dampen the frenzy.

[Logen Ninefingers]

Private debt is going to be the biggest issue going forward Kiwis already had one of the highest Household debts to incomes in the world ... Inflation from forward Govt massive stimulus plans is going to make one hell of a problem as many Kiwi families doing it tough to have food and shelter ... which of course will be fixed just the same as it has always been in modern times ... even lower rates to Negative rates higher payouts to poor .(.. 2030= Cashless western society IMHO ...)

What they are going to do is print more money and push interest rates into negative territory. It is the biggest on-going bail-out in history. The populace don't see it as an on-going bail-out, they only see housing as the be all and end all; do something to 'stabilize' the property market, and it goes beserk as a consequence.

[JBmurc]

What they are going to do is print more money and push interest rates into negative territory. It is the biggest on-going bail-out in history. The populace don't see it as an on-going bail-out, they only see housing as the be all and end all; do something to 'stabilize' the property market, and it goes beserk as a consequence.

Yes and widens the gap between the Rich and the poor faster than ever.. really hurts new younger Gens without much Capital base ... 20yrs ago I started with $40k in savings ... invested $7k year later that turned into 180k cap profit just buying a not titled section in Queenstown .... fast forward to present days !! no view crap car park size sections asking $400k+ pre-title 10% ... $40k .... outlook no way that section value will increase much ..as nothing great about it..1 bed 30sqm apartments ... banks don't want to lend on the entry level property 700k+


.... if it wasn't for ultra low rates the housing market would stall .. Govt + RBNZ know this and with Kiwis+Banks having so much capital tied up ... free markets are gone its all about keeping it afloat as all costs

[Balance]

https://www.stuff.co.nz/national/pol...s-hit-the-poor

And the queue for public housing, emergency housing and rental supplements (subsidies, handouts and welfare) grows and grows - to record levels.

Excerpt :

"The waitlist for public housing has continued its steady march upwards, with 22,409 eligible households waiting for a state or social home at the end of November.

That is a jump of about 1000 since the end of September and is a record high.

It comes as both rents and house prices are surging in a red-hot property market.

The waitlist has exploded in recent years, growing by about 8000 in the last year and more than quadrupling since the Labour-led Government was elected in 2017."

But Cynical Cindy can fix it all - with kindness and her unique brand of Bull Dust about 2021 being ng the year of finally delivering.

Just don't hold your breath - she is busy taking selfies with her fans at the beach and scare-mongering the covid 19 pandemic. Got to keep the sheep (gullible NZers) in the pen.

[Balance]

'Heavily subsidised' Singaporean housing: That's the answer according to Balance. Another 'solution' where the taxpayer is on the hook is not a solution at all. Just raise interest rates ffs!! Stop with the passive bail-outs of people who are living the life of Riley but not wanting to pay for it. Housing should not be a get-rich-quick scheme and an ATM, which is how they are being used in NZ.

https://www.scmp.com/week-asia/econo...ing-singapores

Sky-high prices: the million-dollar question facing Singapore’s public housing

Despite the coronavirus and a bumper recession, a record number of public housing flats were resold by their owners for more than S$1 million in 2020
That’s great for those who buy heavily subsidised public units then sell for a personal profit, but bodes ill for a system aspiring to affordable housing for all

Derek Wong

Published: 8:00am, 18 Jan, 2021



[/I]

What a load of garbage!

The writer was commenting on resales - ie. secondary market government built units.

Every eligible Singaporean is guaranteed a new flat built by the government there - based upon their income.

https://www.hdb.gov.sg/cs/infoweb/re...ility/hdb-flat

None of the wasted billions of dollars like in NZ spent on subsidized state housing, rental accommodation supplements & subsidies & emergency housing & rentals.

[Logen Ninefingers]

What a load of garbage!

The writer was commenting on resales - ie. secondary market government built units.

Every eligible Singaporean is guaranteed a new flat built by the government there - based upon their income.

https://www.hdb.gov.sg/cs/infoweb/re...ility/hdb-flat

None of the wasted billions of dollars like in NZ spent on subsidized state housing, rental accommodation supplements & subsidies & emergency housing & rentals.

Every eligible Singaporean is guaranteed a new flat built by the government there - based upon their income.

Sounds like socialism mate. The government builds all these boxy flats here in NZ while Balance enjoys dirt-cheap money at someone else's expense, sipping champagne in his mansion.

That's the fate of NZ's next generation: "Let them eat cake! Let them live in a box in a tower block!"

Let's end the farce of favouring borrowers and speculators over savers, and start gradually pushing up interest rates. Let's turn of the tap of virtually free money that is powering the housing market. Let it stand or fall on it's on feet!!

[stoploss]

Every eligible Singaporean is guaranteed a new flat built by the government there - based upon their income.

Sounds like socialism mate. The government builds all these boxy flats here in NZ while Balance enjoys dirt-cheap money at someone else's expense, sipping champagne in his mansion.

That's the fate of NZ's next generation: "Let them eat cake! Let them live in a box in a tower block!"

Let's end the farce of favouring borrowers and speculators over savers, and start gradually pushing up interest rates. Let's turn of the tap of virtually free money that is powering the housing market. Let it stand or fall on it's on feet!!

As I have pointed out to you and you failed to answer , pushing up interest rates isn't going to house the now 22,000 on the social housing waitlist.
Supply is the issue . It was a big issue when National had people in cars and the waitlist was 8000..... It's a lot bigger now and we are not getting a lot of answers from the same people who derided the National Govt.

[jonu]

As I have pointed out to you and you failed to answer , pushing up interest rates isn't going to house the now 22,000 on the social housing waitlist.
Supply is the issue . It was a big issue when National had people in cars and the waitlist was 8000..... It's a lot bigger now and we are not getting a lot of answers from the same people who derided the National Govt.

How many housing speculators are sitting on empty houses? It was estimated as high as 30,000 in Auckland alone, a few years ago.

[dobby41]

How many housing speculators are sitting on empty houses? It was estimated as high as 30,000 in Auckland alone, a few years ago.

That was a fraught number from the census wasn't it?
Included houses under renovation, sold but not moved into yet, holiday rentals + real ghost houses.