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  1. #2541
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    @Toulouse - Luzern:

    The RMA bill has NOT been approved and it would be interesting to see the outcome as in the past, previous gov'ts have tried to change the RMA without success.

    I've just heard another small building company in Christchurch has closed shop (don't know the company name) on the basis that they can't source timer framing to build the houses. Meanwhile our logs continue to be exported to China.

    Going back to the RMA, I do believe it will make a difference by allowing more dwellings per given site area. The reason is this, when you look overseas developed nations and how housing is built in urban areas, the houses are built CLOSER and they make BEST USE of the land. A lot of these gross 'setback boundaries' do nothing but grow weeds. Not everyone wants to live further and further away from the city centre or away from a desired region. Therefore as demonstrated in other major cities around the world, building a single story dwelling with a large outdoor yard is a waste of space. If the person desires the back yard, they can simply live away from the city hustle and bustle. We need to start thinking of building up and when you do so, you get better use of building materials. The way we build houses with dwangs / noggin in the timber framing is wasteful. A multistory dwelling condo uses a common wall between dwellings. Saves on the heating & cooling aspect too. Again, look overseas and see what they are doing to address social housing. They build multistory 5 levels like, and each family gets a door (if they want the back yard, they use a shared yard outside). However, what I see in NZ is a lot of NIMBYism.

    Regarding around the housing problem in NZ, our gov't does not need to show honesty. The people know what the problem is. Just no one in gov't has the guts to fix it. Like change the tax laws that favour holding houses as an investment asset instead of Kiwi Saver (which it's paper gains are taxed annually and indefinitely until withdrawn). Jacinda did Strike 1 in the TWG, she did Strike 2 in Kiwi Build, will she do Strike 3 in changing the RMA?

  2. #2542
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    Property Investors and immigrants largely to blame for the house price crisis, according to the one roof survey. Labour govt thrown in there as well.

    https://www.nzherald.co.nz/nz/oneroo...4JDART6B5UGSY/

    Reserves Banks loose monetary policy and constantly falling interest rates don't get a mention and the benefit of a guaranteed 1-3% (more like 7-8%) rise in prices with a tax free capital gain don't seem to get a mention. Property investors are only buying houses while it makes sense. A taxpayer subsidy via the accommodation supplement will have helped as well.

    Yes supply issues constraining house supply is also playing a part, RMA, building consents etc.. According to Bascand of the RBNZ almost entirely a supply issue nothing the RBNZ can do about it. What a piece of s**t trying to deflect blame before it blows up when they try and raise interest rates. He can't be that ignorant, although that said according to the survey the general public do not hold the RBNZ responsible at all, so maybe I am wrong.

    With immigration down, lots more houses being built, the possibility of interest rate rises (not much though) and recent minor tinkering around interest deductibility the outlook for the housing market might be less optimistic than in previous years. Possibly good news for first home buyers who haven't bought recently. Still pretty screwed at current prices though.
    Last edited by Aaron; 08-12-2021 at 12:38 PM.

  3. #2543
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    Quote Originally Posted by Aaron View Post
    Property Investors and immigrants largely to blame for the house price crisis, according to the one roof survey. Labour govt thrown in there as well.

    https://www.nzherald.co.nz/nz/oneroo...4JDART6B5UGSY/

    Reserves Banks loose monetary policy and constantly falling interest rates don't get a mention and the benefit of a guaranteed 1-3% (more like 7-8%) rise in prices with a tax free capital gain don't seem to get a mention. Property investors are only buying houses while it makes sense. A taxpayer subsidy via the accommodation supplement will have helped as well.

    Yes supply issues constraining house supply is also playing a part, RMA, building consents etc.. According to Bascand of the RBNZ almost entirely a supply issue nothing the RBNZ can do about it. What a piece of s**t trying to deflect blame before it blows up when they try and raise interest rates. He can't be that ignorant, although that said according to the survey the general public do not hold the RBNZ responsible at all, so maybe I am wrong.

    With immigration down, lots more houses being built, the possibility of interest rate rises (not much though) and recent minor tinkering around interest deductibility the outlook for the housing market might be less optimistic than in previous years. Possibly good news for first home buyers who haven't bought recently. Still pretty screwed at current prices though.
    The RBNZ only acts within its remit from the government. The government's policy of trying to dampen investor demand for housing has been considered under part 3 of the RBNZ remit only since March of 2021. Even then the RBNZ is limited in what it can do given its inflation and maximum employment remits.

    The current state of Housing is the government's responsibility.

  4. #2544
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    Quote Originally Posted by Bjauck View Post
    The RBNZ only acts within its remit from the government. The government's policy of trying to dampen investor demand for housing has been considered under part 3 of the RBNZ remit only since March of 2021. Even then the RBNZ is limited in what it can do given its inflation and maximum employment remits.

    The current state of Housing is the government's responsibility.
    True it is up to the govt to do away with inflation targeting or at least bring it back to 0-2%.

  5. #2545
    FEAR n GREED JBmurc's Avatar
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    Remember the last time house prices crashed 40%?
    https://www.greaterauckland.org.nz/2...es-crashed-40/

    reading this old 2016 article in the present market just shows how crazy its got now going into 2022 .... when we though it was expensive back then ....

    We sold our home in Qtn for what I thought was good money 1.1mill+ and purchased another family home in Cromwell paid $550k which was the going price early 2016

    Now we are thinking about listing it ... going off the local marketplace ... tempted to put $1.3mill asking going off recent sales ... how nuts is that !! ...$2mill in another few years ???
    Last edited by JBmurc; 11-12-2021 at 09:35 PM.
    "Don't believe a f'ing thing your government tells you."George Carlin
    “The further a society drifts from the truth, the more it will hate those that speak it.”George Orwell

  6. #2546
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    Quote Originally Posted by Bjauck View Post
    The RBNZ only acts within its remit from the government. The government's policy of trying to dampen investor demand for housing has been considered under part 3 of the RBNZ remit only since March of 2021. Even then the RBNZ is limited in what it can do given its inflation and maximum employment remits.

    The current state of Housing is the government's responsibility.
    The tide might be turning for new home buyers.

    https://www.stuff.co.nz/life-style/h...oo-many-houses

    Adrian says the RBNZ only played a "bit part" in housing unaffordability. Bascand says it was a supply issue nothing to do with the RBNZ. Bjauck defends them saying they are only working within their remit of 1-3% inflation and some vague unemployment figure. Lucky housing is not part of the CPI, by the way, what is the CPI currently? Why do we need to import labour? How well is the RBNZ doing its job?

    Economist Tony Alexander cautions against putting too much emphasis on the role of supply in the house price equation.

    “This is a red herring. Extra supply of a thing will constrain prices, but that’s not the same as saying there are not enough houses for people to occupy. Prices have not soared 39 per cent since March 2020 because population growth has boomed.”Record low interest rates and the temporary removal of loan-to-value ratios were the reason, he said.

    I wonder who is right.

  7. #2547
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    Here is a "news" article to provide hope to first home buyers.

    https://www.nzherald.co.nz/business/...C4NZVVJ35KVJU/

    All you have to do is save up $6,000 and have a rich Dad. What is all this angst about.

    Sounds more like a story of a property investor trying to allocate some income to his kids to lower his tax bill.

    One interesting bit in the article is the last couple of paragraphs. Jonny the builder doesn't even know who f**ked him over.

    Every leader of every major party and the older generation that voted them in and especially the good folks at the RBNZ.
    Last edited by Aaron; 23-12-2021 at 07:51 AM.

  8. #2548
    Senior Member TeslaGod's Avatar
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    Quote Originally Posted by Aaron View Post
    Here is a "news" article to provide hope to first home buyers.

    https://www.nzherald.co.nz/business/...C4NZVVJ35KVJU/

    All you have to do is save up $6,000 and have a rich Dad. What is all this angst about.

    Sounds more like a story of a property investor trying to allocate some income to his kids to lower his tax bill.

    One interesting bit in the article is the last couple of paragraphs. Jonny the builder doesn't even know who f**ked him over.

    Every leader of every major party and the older generation that voted them in and especially the good folks at the RBNZ.

  9. #2549
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    You sure your not a baby boomer?

  10. #2550
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    Might be a stretch drawing a link but maybe Auckland wants to be more like Lisbon.

    https://www.stuff.co.nz/business/127...-drop-millions

    https://www.theguardian.com/world/20...housing-crisis

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