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28-04-2022, 02:14 PM
#2641
Originally Posted by Aaron
NZ's housing market has become an exclusive game only for the 'ideal' families who over many generations, managed their finances well. The by-standers are what many generations ago use to be - where a decent working job was all you required to support the family and pay for the mortgage (you know, single income 50s 60s era where the mother was expected to stay home).
Nothing good what we have now as our housing market continues to drive down social mobility (the disadvantaged will never get to own a house without a bank of mom & dad) ; this day of age or rising divorces, inflation, etc.
Take note in the https://static3.stuff.co.nz/growth-i...s-d96bea42.jpg which shows how bad we have it. Good to see in Canada is much lower.
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01-05-2022, 09:49 AM
#2642
You won't catch Jacinda or Chris discussing this article. Maybe time for a radical political party to start gaining support. It is what has happened in the past.
https://www.stuff.co.nz/national/exp...-younger-kiwis
Without gift duties, death and estate taxes, capital gains tax how is wealth redistributed or are we working towards a feudal society, no social mobility for those born to the "wrong" families.
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01-05-2022, 06:22 PM
#2643
Originally Posted by Aaron
You won't catch Jacinda or Chris discussing this article. Maybe time for a radical political party to start gaining support. It is what has happened in the past.
https://www.stuff.co.nz/national/exp...-younger-kiwis
Without gift duties, death and estate taxes, capital gains tax how is wealth redistributed or are we working towards a feudal society, no social mobility for those born to the "wrong" families.
We need a land tax to stop this horrible property inflation cycle and we need a flat(ish) tax to encourage effort from especially the young.
Weak non business-headed government just doesn't work either.
Last edited by clearasmud; 01-05-2022 at 06:24 PM.
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01-05-2022, 09:32 PM
#2644
Originally Posted by Aaron
You won't catch Jacinda or Chris discussing this article. Maybe time for a radical political party to start gaining support. It is what has happened in the past.
https://www.stuff.co.nz/national/exp...-younger-kiwis
Without gift duties, death and estate taxes, capital gains tax how is wealth redistributed or are we working towards a feudal society, no social mobility for those born to the "wrong" families.
Thanks for posting the link.
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02-05-2022, 09:40 AM
#2645
About 20,000 more people left NZ than arrived ..... most in a month for 2 years
If they never come back that should help out housing demand
”When investors are euphoric, they are incapable of recognising euphoria itself “
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02-05-2022, 10:34 AM
#2646
Originally Posted by winner69
About 20,000 more people left NZ than arrived ..... most in a month for 2 years
If they never come back that should help out housing demand
Don't panic about your house price winner, labour has got you covered.
https://www.nzherald.co.nz/nz/covid-...2TKJBQPPRFXFU/
Numbers are pretty big 165,000 new NZers in the next little while. Should be enough to exceed departures and new house construction by a long way and keep wage inflation down.
Brilliant suppress wage inflation and boost asset prices all at the same time.
Although Ardern using weasel words to open the door to bring in a capital gains(wealth) tax after the election. A departure from John Key's promises of a better NZ I wonder.
https://www.msn.com/en-nz/news/natio...7a75ca01168647
Last edited by Aaron; 02-05-2022 at 11:39 AM.
Reason: deleted nonsense more extreme than usual
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02-05-2022, 12:56 PM
#2647
Thinking about it further isn't a wealth tax just stealing The Opportunities Party old equity tax idea.
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02-05-2022, 03:19 PM
#2648
Originally Posted by Aaron
Thinking about it further isn't a wealth tax just stealing The Opportunities Party old equity tax idea.
It was not electorally popular. So the electorate has got what it voted for - expensive housing with many young people (especially those without wealthier parents) needing to move overseas to be able to buy a house. Major reform is too difficult and too unpopular for the major parties?
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02-05-2022, 03:37 PM
#2649
Originally Posted by Bjauck
It was not electorally popular. So the electorate has got what it voted for - expensive housing with many young people (especially those without wealthier parents) needing to move overseas to be able to buy a house. Major reform is too difficult and too unpopular for the major parties?
A good chunk of people would have their house as their major store of value/personal welath. While many can see the need for various reforms, there won't be many that vote to be demonstratedly worse off.
There will start to be a intergenerational wealth transfer from boomers in the coming years.
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03-05-2022, 01:40 PM
#2650
Originally Posted by Sideshow Bob
A good chunk of people would have their house as their major store of value/personal welath. While many can see the need for various reforms, there won't be many that vote to be demonstratedly worse off.
There will start to be a intergenerational wealth transfer from boomers in the coming years.
Undoubtedly the NZ fiscal and investment framework has meant the home (for those that can afford to buy one) - and investment real estate - has become by far the major store of household wealth. This will end up under the current NZ system with dynastic wealth and an inherited landed gentry.
The next generation need it now so that can afford a family size home for their young families. Yet compared to previous generations, the grandparents these days have more of the wealth and the family sized houses!
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