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  1. #1966
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    Quote Originally Posted by stoploss View Post
    Hi JB ,
    could do , currently second tier lenders have been swamped ......
    Seems everyone currently wants to become a property investor .Anyone looking at moving desperately trying to hold onto current home and buy another .
    Depending upon the lender this has become a lot more difficult if you take the 40 % deposit for investment property and 20 % for the new .Note they can do 10 % of their lending below the 20 % but can pick and choose . ( There are a lot of variables around this between lenders)
    So currently things are a lot tighter , especially if you don't have 20 % deposit .
    Also due to the responsible lending code , the serviceability criteria has tightened up a lot .
    This is before the potential income to debt criteria that may come in ..........

    http://www.nzherald.co.nz/property/n...ectid=11737196

    Love it!

  2. #1967
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    I've said it before, but about 40% of people who's name is on a deed of title, have their name on more than 1 title. Source: Land Information NZ's database. I work in an industry with access to the figures

  3. #1968
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    Quote Originally Posted by Lewylewylewy View Post
    I've said it before, but about 40% of people who's name is on a deed of title, have their name on more than 1 title. Source: Land Information NZ's database. I work in an industry with access to the figures
    When housing is the main investment in this country it is not hard to see why... Given the massive returns in the last few years you would be hard pressed to find a better investment.

    The problem is that you now have a generation forced to borrow for higher education and facing the fallout of the GFC which has meant that high paying jobs and wage increases each year are no longer a thing.

    I'm 29 and have seen only 3 wage increases in the last 7 years.. I work long hours and have clocked over 40 hours overtime this month alone!

    But because of my Student loan the government takes a considerable percentage of my overtime and regular pay that never arrives in my bank account...

    On top of that If I try to take a weeks pay in the hand then again a considerable percentage of that is immediately taken for my Student loan.

    Easy to dismiss this with the "I remember the mortgage on my first house ..." .. How about start with 40K in debt and a housing market that forces you to pay $550,000 for your first house

    Now start on 40K a year and have no support from your parents who also rent and struggling to make ends meet..

    On top of that now throw in the huge threat of Interest rate hikes on a $550,000 mortgage you paid for a house falling apart.

    This is what screwed means for the current generation (I'm not asking for a handout just a chance in my own country to own a home) .

    "Oh but it has always been hard" whatever, go back 4 years and your see places in Auckland for 350 K.

    No one cares about our generation and it will come back to bite them when we find our voice....

  4. #1969
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by NeverQuestion View Post
    When housing is the main investment in this country it is not hard to see why... Given the massive returns in the last few years you would be hard pressed to find a better investment.

    The problem is that you now have a generation forced to borrow for higher education and facing the fallout of the GFC which has meant that high paying jobs and wage increases each year are no longer a thing.

    I'm 29 and have seen only 3 wage increases in the last 7 years.. I work long hours and have clocked over 40 hours overtime this month alone!

    But because of my Student loan the government takes a considerable percentage of my overtime and regular pay that never arrives in my bank account...

    On top of that If I try to take a weeks pay in the hand then again a considerable percentage of that is immediately taken for my Student loan.

    Easy to dismiss this with the "I remember the mortgage on my first house ..." .. How about start with 40K in debt and a housing market that forces you to pay $550,000 for your first house

    Now start on 40K a year and have no support from your parents who also rent and struggling to make ends meet..

    On top of that now throw in the huge threat of Interest rate hikes on a $550,000 mortgage you paid for a house falling apart.

    This is what screwed means for the current generation (I'm not asking for a handout just a chance in my own country to own a home) .

    "Oh but it has always been hard" whatever, go back 4 years and your see places in Auckland for 350 K.

    No one cares about our generation and it will come back to bite them when we find our voice....
    I Agree ...at 38 I've been lucky enough to have been able to buy property much cheaper when I was in my early 20's as I never got a Uni loan as I left school at 17 and started full time employment ....IMHO gave me a great headstart on mates that spent many years at Uni to come away with huge debts (my wife still has a small amount to go).... still I don't have the Qualifications so moving away from my hard labour job as I get older isn't going be as easy to get a good paying white collar job >>>

    You can really see the divide going to spread from the richer families to the average-lower incomes struggling ...as large inheritances pass downwards to smaller families(than the past) .... I know of many very wealthy families with just one kid ....!!!
    People don't have ideas, ideas have people

  5. #1970
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    I see from the NZ Herald that NZ residential property value has hit One trillion dollars, whilst the NZ share market capitalisation is at $116 billion. I don't know how this compares to the countries with which we like to compare ourselves (Aus, UK Canada USA) but I suspect their sharemarkets are valued at a higher proportion of their residential housing. NZ residential housing is the go-to investment and in my opinion, the NZ government could do more to encourage financial and business share and equity investments. With the current trends, NZers will end up being a land of mostly tenants being employed by foreign owned businesses and living in houses owned by wealthy local and foreign landowners.

    See http://www.nzherald.co.nz/business/n...ectid=11781028

  6. #1971
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by Bjauck View Post
    I see from the NZ Herald that NZ residential property value has hit One trillion dollars, whilst the NZ share market capitalisation is at $116 billion. I don't know how this compares to the countries with which we like to compare ourselves (Aus, UK Canada USA) but I suspect their sharemarkets are valued at a higher proportion of their residential housing. NZ residential housing is the go-to investment and in my opinion, the NZ government could do more to encourage financial and business share and equity investments. With the current trends, NZers will end up being a land of mostly tenants being employed by foreign owned businesses and living in houses owned by wealthy local and foreign landowners.

    See http://www.nzherald.co.nz/business/n...ectid=11781028
    Yes outside those employed in the property sector our love affair with local property looks problematic ....

    -Huge debt to household income (the debt which is mostly held by foreign nationals , NZ very poor savers)

    -low investment in new NZ businesses..... IPO's etc..

    -Huge earthquake risks to our million dollar pads .....Again Insurance costs to foreign balance sheets (ongoing increase premiums)


    Really when you look at NZ are so called Rock star economy is heavily biassed on other countries though TOURISM # 1
    and Debt fueled property market ... we have is a low income economy + High living costs .. add in are aging population
    + muti year property bubble ....

    thinking we will have some much tougher years ahead as a nation

    fundamentally on the wrong road........ incomes Vs Debt
    Last edited by JBmurc; 14-01-2017 at 03:36 PM.
    People don't have ideas, ideas have people

  7. #1972
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    This is the closest thread I could find re Auckland House prices.
    https://www.cnbc.com/2019/04/11/worl...much-debt.html

    Good on the world bank for stating the blatantly obvious.

    I wonder how much of the Chinese funny money pumped up Auckland house prices. Labour stopping foreigners buying houses in NZ was a good move imo.

    Property experts in the papers prior to the ban were saying how little overseas buyers affect the market. Real estate agents aren't saying this anymore.


    I think QE is more likely than QT so I don't see how debt will reduce unless something forces a change.
    Last edited by Aaron; 12-04-2019 at 08:31 AM.

  8. #1973
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    The monthly analysis reports at the below link are useful. Auckland very different from much of the rest of the country. Data is asking prices, not actual, but based on high listing volumes, and include 'eyeballs'. They do a rental analysis as well.

    https://property.trademe.co.nz/market-insights/

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