NZ 1st homebuyers are ScReWeD...

[ynot]

That is a fair point.

and what and would you consider

a fair price in Auckland, preferred suburbs.

I'm not familiar with Auckland so can't comment. I do know prices are crazy almost everywhere around the country.
I know you dont get much of a property anywhere in Tauanga for under $700.

[Bjauck]

Quoting Bernard
"Those parents still renting and those just graduating into Covid without assets should move now. Giving up hope seems a capitulation. It is. But sometimes discretion is the better part of valour. Sometimes there is no hope. Move to Australia and you’ll find wages are 30-40% higher and rents have fallen $50-100 in the last year."

Unfortunately, as much as it deeply disturbes me to say this, I think Bernard is correct, I think for many young kiwis, greater opportunities for home ownership lie in Australia.

Yep. NZ used to be place for its young adults to establish a home and garden and raise a family. Now it is the land of milk and honey for wealthier older established people?

[fungus pudding]

Yep. NZ used to be place for its young adults to establish a home and garden and raise a family. Now it is the land of milk and honey for wealthier older established people?

Funny you should say that - I was just thinking this morning, that Noah probably had the world's finest ark in its day.

[ynot]

Yep. NZ used to be place for its young adults to establish a home and garden and raise a family. Now it is the land of milk and honey for wealthier older established people?

I have said this before but will repeat as it really p..... me off.
I have aways considered it a kiwi's birthright to be able to own their own home.
This rite has been stripped from a lot of young New Zealanders.
I place the blame for this squarely on our governments. If they achieved nothing else for the people they are elected to serve, surely this should have been a priority but sadly, no.

[Entrep]

NZ will only become more popular and in demand as the rest of the world turns to custard. This was happening way before COVID. Terrorism, gun ownership, violence, political and religious extremism etc all very widespread elsewhere. Add viruses to worry about (what's next?) too.

Sure I am biased, but our highly developed, island, isolated and for the most part sensible nation seems very attractive.

[Bjauck]

NZ will only become more popular and in demand as the rest of the world turns to custard. This was happening way before COVID. Terrorism, gun ownership, violence, political and religious extremism etc all very widespread elsewhere. Add viruses to worry about (what's next?) too.

Sure I am biased, but our highly developed, island, isolated and for the most part sensible nation seems very attractive.

I am not sure if that is currently the case, when NZ's high penetration of gang membership, low vaccination rate and Covid community cases growing by the day, and The Christchurch Attack are taken into account?

[Aaron]

Always uncomfortable when something is described as a human right. Is anything really a "right". But interesting this article discusses housing and politics. 1937 Michael Savage govt. started building houses.
The building of state housing continues to go on to 1990. By then there are 70,000 state houses, which is more than Kāinga Ora owns now. Ordinary working people were able to take out a cheap State Advances loan to buy their own home, and you could capitalise your Family Benefit (now long gone) to build an extension.

https://www.msn.com/en-nz/money/othe...?ocid=msedgntp

So the government built the houses provided cheap finance to buy the houses and in some cases if you had kids the deposit. But in 1990 about the same time as targeted inflation became a thing when the baby boomers were between 26yrs-44yrs old the country was technically insolvent. These same people are now suggesting national superannuation is a "right" after giving themselves a good start in life they have loaded the next generation with student debt, large housing debt and eventually higher taxation to fund their national super. They are also the generation suggesting the younger generations "want everything and don't want to work for it". It is pretty rich.
Maybe do away with targeted inflation which is a tax and is stealing our time. (It took 3 years wages to buy a house in the good old days but takes now it take 8.5 years)

Sorry if this has already been discussed endlessly earlier in the thread.

[Aaron]

I place the blame for this squarely on our governments. If they achieved nothing else for the people they are elected to serve, surely this should have been a priority but sadly, no.

People vote govts into power, govts provide for those with the most votes, making being born in a boom period good.

They have served and continue to serve a large selfish generation of voters.

John Key and Jacinda Ardern both addressed the "big issues". No capital gains tax, universal national superannuation and the continuation of targeted inflation. It doesn't matter which way you vote the result is the same.

[artemis]

...The building of state housing continues to go on to 1990. By then there are 70,000 state houses, which is more than Kāinga Ora owns now......

While this is technically true, it is deliberately misleading. It leaves out the thousands of social housing properties now owned by community housing providers with tenants who qualify for income related rent subsidy from the taxpayer. Same subsidy as KO tenants can get.

[Aaron]

While this is technically true, it is deliberately misleading. It leaves out the thousands of social housing properties now owned by community housing providers with tenants who qualify for income related rent subsidy from the taxpayer. Same subsidy as KO tenants can get.

Who ultimately receives the accommodation supplement payments? Is this the govt answer to pushing up house prices and rents faster than wages?

Don't let house prices fall but back stop the landlords with current monetary policy and the accommodation supplement. Sounds reasonable.