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  1. #2851
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    Here I was worrying about first home owners and it turns out according to the census we have more home owners than ever. Although 29% of the country wasn't even born here so maybe they bought the houses.

    Or did I read that wrong more home owners or homos than ever. Maybe both, I certainly did not fully appreciate the gender question at the time.

  2. #2852
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    No fish hooks around the corner?

    "Government to step in and underwrite new private house building"

    https://www.stuff.co.nz/politics/350...4+October+2024

  3. #2853
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    Quote Originally Posted by kiora View Post
    No fish hooks around the corner?

    "Government to step in and underwrite new private house building"

    https://www.stuff.co.nz/politics/350...4+October+2024
    Not a very informative article, but who needs detail such as expected cost etc.

    The optimist in me says this is a way to progress more house building and increase supply.

    The cynic thinks taxpayer dollars are being used to prop up property developments that are too expensive to attract enough buyers. Developers won't have to drop prices to attract buyers and our tax dollars are being used to prop up wealthy developers and house prices.

    I think it is a rehash of some Labour policy so nothing new here.

    $2.3billion in accommodation supplements (taxpayer dollars) to support rents and now who knows how much to support developers.

    One thing we can be sure of Adrian will cut interest rates to make it all affordable before house prices fall in a meaningful way.

    National or Labour you can be sure everything will be done to ensure house prices do not become affordable.

  4. #2854
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    Don't think there's going to be much cost, this is just taking the kiwibuild underwrite and removing the first home buyer/ballot etc. The costs of salaries etc will be less as no longer need to maintain an outward facing customer website and portal. Capture and record applications, run ballots, record and manage sales and the deed of covenents that are required to stay in house for 1/3 years etc. That's probably atleast a million in salaries alone.

    Main thing is ensuring they underwrite quality developments and that if they do end up realising any of the underwrites that they are bought at an agreed price and as long as they are sold at cost or more then it's not really an issue. Kiwibuild never sold a house at a loss but they didn't factor in any of the costs I mentioned above, they ran a small profit on sales of realised underwrites.

    Buying a couple and onselling them isn't failure it's intentional design, can't let the media paint it the wrong way.

  5. #2855
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    Rent rises biggest contributor to inflation.

    https://www.stuff.co.nz/money/350454...ation-dropping

    Those crazy Greens complaining, they do not understand economics. You buy a house on a ridiculously low yield and constantly push up rents until it makes sense. Although the article does point out.

    "There was some reprieve as this was the first time the annual increase dipped under 5% this year. The annual increases measured over the previous three quarters were: December 2023 up 5.27%; March 2024, 5.69%; and June, 5.59%."

    Happy days, not only is a 3% inflation robbing you of your deposit money, the increases in what is your biggest cost are rising much faster than that and they also justify much higher house prices. This is like a wonderful wealth spiral for financial geniuses.

    Any link between interest rates and high house prices??? Not according to Adrian Orr so I wonder what has changed in the housing market? maybe summer is coming.

    https://www.stuff.co.nz/home-propert...de-me-property

    https://www.oneroof.co.nz/news/they-...he-water-46464

  6. #2856
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    Only thing putting pressure on my rent prices for the last two years has been insurance and rates increases. Interest rates coming down helps but my costs from those two alone have increased hugely.

  7. #2857
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    I guess that is why rents are not falling with the interest rate cuts as landlords in the paper indicate any changes in prices are always passed directly on to tenants.

    As all the great economists say, to manage the debt you need to grow your way out of it, so I guess rent decreases not likely looking at the level of debt in NZ and therefore no return to what might be described as normal house prices.
    Last edited by Aaron; 24-10-2024 at 11:51 AM.

  8. #2858
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    They aren't falling with interest rates is because most landlords aren't terrible people and were absorbing interest rate increases. Despite some peoples views that you can simply pass the costs on there is a definite limit to how far you can go. I don't want to lose my good tenants but I won't be dropping my rents as the reality is I'm no better off. The bank gets less though.

  9. #2859
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    Opinion: NZ's building consent process is flawed – here's what could help

    https://www.1news.co.nz/2024/11/04/o...+November+2024

  10. #2860
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    PwC looks at offer to cut loose Du Val Build To Rent


    "Du Val statutory managers are considering a $24 million lifeline refinance offer to remove Du Val Build To Rent Limited Partnership from the 70 entities they control."It's an opportunity to secure the limited partners' funds and anything that gets in the way of that would be a travesty," said Mark Robinson a director of the Du Val BTR General Partnership, who is familiar with an earlier attempt to strike the refinance deal.BusinessDesk understands PwC staff are re-examining the proposal and negotiating with trans-Tasman mercha..."

    https://businessdesk.co.nz/article/p...-build-to-rent
    Last edited by kiora; Today at 07:52 AM.

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