NZ 1st homebuyers are ScReWeD...

[Bjauck]

405 comments on this article and many of them are blaming the banks or successive governments. Typical. The people who actually did the buying and put themselves in the position where they took on huge debt won't blame themselves. Human madness.

Monetary and fiscal policy corral the sheeple then funnel them onto the freezing works trucks?

Those who leveraged themselves into property in the past and are now debt free, are in clover, thanks to this past monetary and fiscal government policy. Boomer heaven?

[Logen Ninefingers]

Monetary and fiscal policy corral the sheeple then funnel them onto the freezing works trucks?

Those who leveraged themselves into property in the past and are now debt free, are in clover, thanks to this past monetary and fiscal government policy. Boomer heaven?

Someone has to be left holding the bag. Vis a vis inflation and interest rate settings, I see comments from people saying "why is the happening?" - the ignorance of people who are prepared to borrow maybe a million dollars and yet they don't understand what is going on in the world, the don't know about QE and other unconventional central bank policies, they don't know how important US inflation and the Federal Reserve are to NZ and what happens in our market....it is both sad and disappointing.

[fungus pudding]

Monetary and fiscal policy corral the sheeple then funnel them onto the freezing works trucks?

Those who leveraged themselves into property in the past and are now debt free, are in clover, thanks to this past monetary and fiscal government policy. Boomer heaven?

Yep - good eh!

[Logen Ninefingers]

Yep - good eh!

I guess on the one hand many young people have been left holding the bag, but have a long life to look forward to.

And the boomers have cashed out their central bank given gains but are at the end of their lives and have the old folks home, dementia et al to look forward to.

So it must be a sort of bitter-sweet moment for the boomers. They get an amazing windfall but it comes in the last part of their lives.
Many of them won't have a clue about QE, ZIRP, helicopter money, 'the wealth effect' and all the rest of it. They just have the narrative of "we worked hard & deserve this" and no-one can convince them otherwise. Good luck to them and they will certainly be able to live in style at the retirement home.

[artemis]

As property (and other asset) owners age and fall off the perch, the offspring will inherit not a trickle but a veritable waterfall. Unearned.

[fungus pudding]

As property (and other asset) owners age and fall off the perch, the offspring will inherit not a trickle but a veritable waterfall. Unearned.

....which they thoroughly deserve - for having chosen their parents wisely.

[Logen Ninefingers]

....which they thoroughly deserve - for having chosen their parents wisely.

Haha....nice trolling. Well done sir. Up the blue bloods!

[dobby41]

Monetary and fiscal policy corral the sheeple then funnel them onto the freezing works trucks?

Those who leveraged themselves into property in the past and are now debt free, are in clover, thanks to this past monetary and fiscal government policy. Boomer heaven?

More than Boomer heaven - there are a lot of younger (than Boomer criteria) people who leveraged into property and are mortgage-free or very well capitalised.

[fungus pudding]

More than Boomer heaven - there are a lot of younger (than Boomer criteria) people who leveraged into property and are mortgage-free or very well capitalised.

It's good to see those enterprising younger bods being well rewarded.

[Logen Ninefingers]

Bit of a CJ going on here. Meanwhile inflation has hit 5.9% and the RBNZ is expected to hike the OCR in February.