NZ 1st homebuyers are ScReWeD...

[TeslaGod]

Various analysts have been calling the peak of the market with respect to house prices for some years. Then other factors intercede. The latest being the biggie of the Coronavirus response. As with mountaineering, you think the peak has been reached and then when on top, you realise it was not actually the peak!

The life stage some people are at may mean they cannot wait until the latest peak subsides. When trying to establish a home, housing is not just another investment commodity.

I am still learning about markets so get information from a wide range of sources.

True, those who were able to build up a portfolio of investments over the past years would have seen good capital gains. A large part of those gains may have been due to interest rate falls. It helped to have the the ability to access capital and loans at the time. It all adds to some intergenerational stresses.

Wise words

Not much I disagree with in this post.

Not much I can do about people who can't get in the housing market either, but maybe provide shelter and charge market rent in return.

[TeslaGod]

Share traders. From the name, specifically it is about when to buy and sell shares (to get a maximised return).There are lots of other off-share-market threads though on Sharetrader. This is the "NZ 1st homebuyers are screwed..." thread.

I see I get a little lost at times on this forum.

I guess if first home buyers believe they are screwed then that's why they fail.

[Bjauck]

NZ is a signatory to the UN's Universal Declaration of Human Rights. The following is the section of the declaration from Stuff ( https://www.stuff.co.nz/business/opi...n-rights-issue ) relating to housing (with my comments in blue):

Article 25 of the United Nations Declaration of Human Rights identifies the right to adequate housing as a fundamental and inalienable human right. The UN describes adequate housing as meeting the following criteria:

• Tenure security that guarantees legal protection against forced evictions, harassment, and other threats. Currently tenants can be evicted against their wishes if the Landlord wants to use the premises for their family or if they wish to sell the premises with vacant possession. The Landlord can evict even if the evicted tenant does not have adequate housing to move into. Public Works can also result in forced evictions, although some compensation is provided.
• Availability of materials and infrastructure such as safe drinking water, adequate sanitation, energy for cooking, heating and lighting, food storage and refuse disposal. To access refuse disposal for many items (in Auckland e.g.) requires is expensive and/or requires transport and/or ability to safely store for annual collections (even then they may refuse to collect certain items.) There have been failures to provide safe drinking water and energy.
• Affordability such that paying for housing does not compromise other human rights. This is not the case in NZ.
• Habitability that includes protection against the cold, damp, heat, rain, wind, other threats to health and structural hazards. NZ is trying to introduce healthy homes. Protection against climate change will become even more of an issue.
• Location that is not polluted or dangerous and that does not cut off access to employment opportunities, healthcare services, schools or other critical social institutions.
• Accessibility that can meet the specific needs of disadvantaged and marginalised groups and does not compromise the expression of cultural identity. I doubt that all homes have ramps, mobility or other aids. Public transport in many areas is inadequate.
• Cultural adequacy, for example taking into account traditional housing patterns, family configuration and cultural practices. Affordability of homes that can cater for large and extended families would be questionable.

So I would conclude that NZ has failed to abide by this Declaration, of which it is a signatory.

[TeslaGod]

Seems like the states failed the U.N declaration not the private Landlord's who are trying to do the state's job.

Unfortunately with more and more regulation.

[FTG]

Article 25 is yet another demonstration of the insidious, yet impotent, nature of the UN & other quasi State centralised organisations.

[artemis]

I would say 'housing as a human right' is available in New Zealand. Might have to pay the market rate though.

For example, on tenancy terminations if property to be sold or occupied by family, tenants can negotiate a fixed term tenancy or, as the Finance Minister says 'look elsewhere'.

[Bjauck]

I would say 'housing as a human right' is available in New Zealand. Might have to pay the market rate though. Which is where the affordability issues crop up.

For example, on tenancy terminations if property to be sold or occupied by family, tenants can negotiate a fixed term tenancy or, as the Finance Minister says 'look elsewhere' I guess overcrowding in some areas, homelessness and social housing wait lists point to the “success” of that.

So NZ fails to provide affordable adequate housing.

Healthy homes
https://www.stuff.co.nz/national/125692723/bribery-filth-and-scumlords-the-life-of-a-healthy-home-assessor

[TeslaGod]

So NZ fails to provide affordable adequate housing.

Healthy homes
https://www.stuff.co.nz/national/125692723/bribery-filth-and-scumlords-the-life-of-a-healthy-home-assessor

Most landlords provide warm livable housing.

Most tenants are good people paying rent on time and looking after there home's.

I have noticed (being new to this forum)
A number of comments seem to add a link to an article.

Although interesting, not necessarily telling the full story, however you have just increased free advertising revenue for that particular media outlet.

[Bjauck]

Most landlords provide warm livable housing.

Most tenants are good people paying rent on time and looking after there home's.

I have noticed (being new to this forum)
A number of comments seem to add a link to an article.

Although interesting, not necessarily telling the full story, however you have just increased free advertising revenue for that particular media outlet.

I don't think the Human Rights declaration was just limited to "most" people.

That is a good point relating to linked articles. I doubt many, if any, articles individually provide a complete picture. You always have to check the source and credentials and do further reading if you are motivated. However there is a time constraint and one link is better than none, especially if the linked article was a factor behind your post. If the reader is interested, they can do further research for corroboration.

[artemis]

So NZ fails to provide affordable adequate housing......

Taxpayers stand ready to step up.