NZ 1st homebuyers are ScReWeD...

[TeslaGod]

Sure, sometime in the future, depending on future land price movements and the needs of the landowner's beneficiaries, some of it may end up back in the productive economy.

Spot on Bjack

And that time for me is now.

[TeslaGod]

Don't you mean "secondary" or "indirect" winners. As the main winner is the investor/developer then this wealth is distributed to the real economy depending on their spending preferences.

No.
No I don't mean that .
Please see my prior post for who benefits.

[TeslaGod]

Spot on Bjack

And that time for me is now.

Disclosure.

I reinvest a large proportion of my capital back into accumulating further assets.

[SBQ]

No.
No I don't mean that .
Please see my prior post for who benefits.

As I said before, the foreign banks in NZ benefit. The next person that buys your property investment will look to borrow more from the bank, then the bank makes more profit through compound interest. It's a lot of $ that is lost out of the NZ economy as greater portions of the working class disposable income go to service the mortgage. Is a working class person right to be living under such difficult requirements? How does that compare to other countries where the same profession gets them much higher disposable income (ie doctors and nurses, teachers, ?). Didn't the nursing union in NZ strike 3 or 4 years ago... only to be striking again next month?

[TeslaGod]

As I said before, the foreign banks in NZ benefit. The next person that buys your property investment will look to borrow more from the bank, then the bank makes more profit through compound interest. It's a lot of $ that is lost out of the NZ economy as greater portions of the working class disposable income go to service the mortgage. Is a working class person right to be living under such difficult requirements? How does that compare to other countries where the same profession gets them much higher disposable income (ie doctors and nurses, teachers, ?). Didn't the nursing union in NZ strike 3 or 4 years ago... only to be striking again next month?

Here is my response to your concerns.

-Foreign banks-invest in the financial markets.

-I don't recommend selling property go long as in next generation long.

-Im confident the OCR will go negative in the next 24 to 48 month's.

-Nurses or any workers should invest in multiple forms of income to survive the next 30 years.

I'm retired and have multiple income sources. Not one of them is from a job.

[TeslaGod]

-Nurses or any workers should invest in multiple forms of income to survive the next 30 years.

I'm retired and have multiple income sources. Not one of them is from a job.

If you don't believe in this point that's like someone saying in 1951 "Mum will never have to work ,Dad's income will always be enough"

Evolve ,It's apart of nature, those who don't

well we know what happens.

[JBmurc]

So you have many properties managed Teslagod ?? Nice ...good for you certainly a much less stressful source of income

[TeslaGod]

So you have many properties managed Teslagod ?? Nice ...good for you certainly a much less stressful source of income

Thanks JBmurc

I also lease many of my properties to social housing community groups with tenants that have mental and drug abuse issues.

(I do the government's job for them)

These are people who need help and shelter.

Not many on welfare truly deserve hand outs just a hand up and a push in the right direction.

[101nick101]

Looking to buy my first home in Auckland at the end of next year and will no doubt be bitten hard in the rear. Can't stomach paying ground/body corp fees and non-apartments in or near the CBD are extremely expensive, a 1 beddy 1 bathroom in Mt Eden will set you back 900k - 1.1m. Wonder what things will be like in 10 years time for those trying to buy.

If you're in the Auckland market already you've won, aside from apartments or a long commute to the CBD from Waiku young kiwis are going to get priced out.

[SBQ]

Looking to buy my first home in Auckland at the end of next year and will no doubt be bitten hard in the rear. Can't stomach paying ground/body corp fees and non-apartments in or near the CBD are extremely expensive, a 1 beddy 1 bathroom in Mt Eden will set you back 900k - 1.1m. Wonder what things will be like in 10 years time for those trying to buy.

If you're in the Auckland market already you've won, aside from apartments or a long commute to the CBD from Waiku young kiwis are going to get priced out.

This issue has been hit many times. To get you up to speed have a listen here:

https://thespinoff.co.nz/business/25...tion-was-lost/

He says, some sort of land tax or any tax to discourage the high demand done by property investors.