$37 Million a week

[Bjauck]

A lot of talk in this thread about 'people'. In fact that should be 'households', and specifically household income. A DINK household is a very different item to a household with one income and perhaps another adult and children. Household size is a choice, household income is a series of choices. Not always but often...

Apart from its use in statistics, is there such a thing as “household income”? The individuals in the household may have the legal rights to vastly different amounts of income and/or capital gains, from various legal entities.

[Norwest]

50,000 net migration every year for 10 years is 500,000 people (source: Statistics NZ)

61% of these 500,000 people move to Auckland, which is roughly 300,000 over 10 years (source: Statistics NZ)

At the average of 2.6 people per household, 115,000 extra houses are required for these incoming migrants need in Auckland (source: 2018 Census stats)

For the past decade, Auckland has accounted for just under 30% of consents for new dwellings yet has received 47% of the country’s population growth. (source: MBIE)

"The current shortfall of housing in Auckland is estimated to be at around 28,000 dwellings over the past decade, although other estimates put this deficit at 45,000 units." (source: 2018 Government Stocktake of New Zealand’s Housing).

You can complain all you want about the accommodation supplement and WINZ support - this is being forced upon kiwi's by mass immigration which drives housing costs higher whilst also driving wages lower - the end result is your average kiwi in regular employment gets screwed big time, especially in Auckland.

[Bjauck]

...

You can complain all you want about the accommodation supplement and WINZ support - this is being forced upon kiwi's by mass immigration which drives housing costs higher whilst also driving wages lower - the end result is your average kiwi in regular employment gets screwed big time, especially in Auckland.

Long term real estate owners have made large gains from immigration and insufficient supply. It is increasingly a tale of two Aucklands-the landed plutocracy and those struggling to secure adffordable uncrowded rental accommodation. About 45% of AKL households are not owner occupied.

As rental properties tend to have more occupants. The percentage of the population in rental accommodation may have surpassed 50%.

[iceman]

Huh?

Why be a landlord when you can cash out and make mega-millions!

Why cash out if the values keep rising ? Just like shares, "let your winners run" !

[Logen Ninefingers]

Why cash out if the values keep rising ? Just like shares, "let your winners run" !

Ok, so if they are ‘winners’ riding a tsunami of capital gains then maybe they spend less time complaining about how tough it is to be a landlord. They are in it by choice.

[artemis]

Apart from its use in statistics, is there such a thing as “household income”? The individuals in the household may have the legal rights to vastly different amounts of income and/or capital gains, from various legal entities.

Household income is used in relation to all housing subsidies and also borrowing for housing.

[artemis]

Ok, so if they are ‘winners’ riding a tsunami of capital gains then maybe they spend less time complaining about how tough it is to be a landlord. They are in it by choice.

Thing is landlords do actually have choices and will make decisions based on their own circumstances. Recent rental changes aim to make renting 'fairer', and if asset owners don't see it that way they can and will do something about it.

Owners that decide to stay in the sector will be a lot more careful who they rent to and check the rent charged in relation to the market.

Majority of rentals are managed by property managers as landlords - they have a good handle on the market and of course are engaged by owners to produce optimum results.

[Bjauck]

Household income is used in relation to all housing subsidies and also borrowing for housing.

As far as I am aware, if you are in a relationship, subsidies take into account your partner's situation. Applications for mortgages can be joint. This is not the same as "household" which may or may not include these situations in addition to other relationships.

https://www.workandincome.govt.nz/pr...upplement.html

[artemis]

As far as I am aware, if you are in a relationship, subsidies take into account your partner's situation. Applications for mortgages can be joint. This is not the same as "household" which may or may not include these situations in addition to other relationships....

Fair comment, I used the term 'household' rather loosely to make a point between one person's income and the income of other relevant occupiers in a household when comparing income to dwelling affordability.

[Bjauck]

Fair comment, I used the term 'household' rather loosely to make a point between one person's income and the income of other relevant occupiers in a household when comparing income to dwelling affordability.

Fair enough. Certainly the ability to service a mortgage/ pay the rent does require more incomes today than a generation or two ago. So other things are sacrificed - such as voluntary charity work and a parent at home for the kids etc.