NZ 1st homebuyers are ScReWeD...

**TeslaGod** · 02-10-2021, 08:08 AM

Originally Posted by TeslaGod

Wow that was really a long post SBQ.

I think your asking me what I'm doing moving forward in regards to the moral issues of owning a large amount of real estate?

I don't have an opinion on the Realestate.

I don't see them

I don't go inside them (Many I have never even been inside)

I don't know the individuals who rent or lease them

Honestly they mean nothing to me they are just numbers on a spread sheet in goings and out goings on different Bank accounts and annoying emails I have to reply to now and then.

I couldn't be any more honest.

I'll add to this post,

There seems to be members on this thread similarly to the NZ public that seem more concerned about the large amount of real estate I own than I do.

And they all seem to have extreme cases of tall poppy syndrome.

Some of my properties I have owned for just under 2 decades I genuinely forget they are there.

They are run by property managers, leased to businesses, community trust, Kaianga Ora etc and rarely do they cross my mind,

Perhaps I should be grateful for my position? No, I don't think like that, I figure out ways to grow my position and protect it .

They don't engross me like those in the media,NZ public and some members on this forum seem to be infatuated with.

They are merely vehicles of wealth to me nothing more.

So I look forward to our borders opening so we can spend some time in Europe, Asia and North America.

While the likes of SBQ complain at me and I honestly couldn't care less.

Merry Christmas.

**FTG** · 02-10-2021, 08:14 AM

Sigh.......

SBQ, IMO you would make a good politician! In your case very likely on the left of center and with the strong view that you know what is best for everyone else. But of course, you are a "special case" and are exempt to many of those demands & expectations you have of others.

Just like when Hipkins, Clarke, Little et al get interviewed, you haven't actually succinctly answered the questions!
Instead you have resorted to waffling on & just making a political broadcast which has little or no substance.

However, it also seems unbeknown to you, you have given us a glimpse of the very hypocritical position you take.

Disappointing. Surely you are better than that?

**Bjauck** · 02-10-2021, 08:20 AM

Originally Posted by SBQ

...
We do not see much of this in Auckland, if any. That's because in NZ, there's a huge movement called the NIMBY.
....

I agree with many of your points. I think the rest of your posts explains why NIMBYism is such a force. NZ household investment has to a substantial extent been channelled into residential property (whether as owner occupier or rental investment) for the reasons you state. So it is the main pension plan/nest egg for many and is guarded by owners from any perceived threat to its value, whether from intensification or tax reform. These owners currently participate in the electoral process in numbers to carry elections.

The compensation provisions for public works and any zoning changes, that have an adverse effect on values, are also out of date and inadequate.

**TeslaGod** · 02-10-2021, 08:26 AM

Originally Posted by Bjauck

I agree with your post. I think the rest of your posts explains why NIMBYism is such a force. NZ household investment has to a substantial extent been channelled into residential property (whether as owner occupier or rental investment) for the reasons you state. So it is the main pension plan/nest egg for many and is guarded by owners from any perceived threat to its value, whether from intensification or tax reform. These owners currently participate in the electoral process in numbers to carry elections.

The compensation provisions for public works and any zoning changes, that have an adverse effect on values, are also out of date and inadequate.

Well informed and very intelligent post.

There are some that complain about me but are happy to protect my wealth while protecting there own.

**fungus pudding** · 02-10-2021, 08:32 AM

Originally Posted by SBQ

Not all asset classes are the same in terms of social impact or it's benefit to society. What is the cost to society when the gov't does nothing to control house prices to a reasonable level? Note I use the term 'massive' financial gains because the NZ gov't has essentially left that asset class untaxed. Certainly a joke when you compare to what the gov't offers instead, Kiwi Saver. This is not to say that house prices abroad, like Aus or Canada have not gone crazy too. However, there's a massive difference. The low income people living in those countries aren't as poor as the ones we see living in cars in S. Auckland (or at least they are able to have social housing at WHO living standards for the past many decades). How may are on the social housing waiting list in NZ per capita vs those in other countries? To me this is the social cost when this asset class houses, has been incentivised in the most abhorrent way.

[/I]We own our home. To be more specific, I have never taken a mortgage out. I don't see how this is relevant to how much house prices have gone up. My view is every working person, or young family, SHOULD BE able to get into their own home. It does not have to be a 3 or 4 bedroom house, but it should be at least 'obtainable'. The NZ gov't has done nothing. Canada on the other hand has done a hell of a lot more this area. Here's a recent proposed project in ritzy West Vancouver:

https://www.nsnews.com/local-news/pr...earing-4334938

We do not see much of this in Auckland, if any. That's because in NZ, there's a huge movement called the NIMBY. A shame because at prime locations where the demand is highest, the only option is simply to those that have the most money.

Again, I say "massive" in a return that exceeds all other asset classes for the given level of risk and net of any taxation. The incentives in NZ are wrong. All previous gov'ts in NZ are weak in addressing this issue. Our politicians are deaf when it comes to critics abroad such as delegates from the UN. I'm saying this because the losers aren't you and I that already own a house. The losers are future generations that PAY for all these massive gains when they try to buy a house (because if you have more than 1 child, your house that you live in is only a portion towards their mortgage deposit).

Where as investments in equities, you are taking shareholder ownership in a business which multiplies it's profits. Creates employment, multiplies the $ from hand to hand, without the banks siphoning the profits abroad in a mortgage.

In the 1960s NZ was plagued with shiploads of Poms - coming to the new country to start a new life. They stuck out a mile for all sorts of reasons, but they had two common characteristics that made them unmistakable.
The first was incessant complaining and moaning. They were invariably known as 'whinging Poms' even referred to as whinging poms in newspapers and radio (play the 'whinging pom' clip on this site https://www.bbc.co.uk/archive/whinging-poms/zmngscw) That's Australia but so typical.
The second was their non-stop bleating about how we had it all wrong compared to where they had come from- how much better their ways were in the homeland. (Google whinging Poms)
I can't for the life of me think what brings that to mind - must be something or I wouldn't have mentioned it.

**Bjauck** · 02-10-2021, 08:41 AM

Originally Posted by FTG

Sigh.......

SBQ, IMO you would make a good politician! In your case very likely on the left of center and with the strong view that you know what is best for everyone else. But of course, you are a "special case" and are exempt to many of those demands & expectations you have of others...

How has SBQ self-exempted from the demands made of others?

SBQ is a business owner and has other investments. That sounds like a good capitalist rather than a socialist or left-winger to me. Plenty of those on the right have social consciences and a desire for philanthropy too. Perhaps it is the attitude to the provision of shelter/residential housing that makes SBQ seem a left-winger to some? However I do understand that it does depend on the gauge used.

**Bjauck** · 02-10-2021, 08:45 AM

Originally Posted by fungus pudding

In the 1960s NZ was plagued with shiploads of Poms - coming to the new country to start a new life. They stuck out a mile for all sorts of reasons, but they had two common characteristics that made them unmistakable.
The first was incessant complaining and moaning. They were invariably known as 'whinging Poms' even referred to as whinging poms in newspapers and radio (play the 'whinging pom' clip on this site https://www.bbc.co.uk/archive/whinging-poms/zmngscw) That's Australia but so typical.
The second was their non-stop bleating about how we had it all wrong compared to where they had come from- how much better their ways were in the homeland. (Google whinging Poms)
I can't for the life of me think what brings that to mind - must be something or I wouldn't have mentioned it.

Quite the obnoxious, generalised and bigoted post!