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  1. #31
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    I remember it wasn't that long ago when the likes of Campbell Live used to do stories about vendors being unable to find buyers for houses. Mortgagee sales going without a single bid.

    The God-awful moaning and crying from people got very annoying.

    Now people are moaning about auctions having too many bids and prices being too high.

    Can't wait for the empty Mortgagee sales to come back actually.

    Don't live beyond your means.

  2. #32
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    Quote Originally Posted by moosie_900 View Post
    Think you and I should buy up all the housing at mortgagee sales during the next crash eh Robbo? Can call it "The RoboMoose Fund: Terminating the market at every turn with antlers of steel"
    Sure, I have a plan to get us some cheap money for it too.

  3. #33
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    The world following Wheeler's methods

    http://www.theguardian.com/business/...mortgage-loans

    In a dramatic move, the chancellor plans to allow the Bank of England to limit loans that could undermine the financial stability of the UK housing market.

    In a bid to show he is taking action to boost the supply of homes, Osborne will also say he is making changes to the planning regime that could see a further 200,000 homes built.

    The new rules will allow the Bank of England to set a maximum multiple of income that homebuyers can borrow and prevent mortgage lenders from offering first-time buyers high loan-to-value mortgages


    And praise from the Aussies
    http://www.theage.com.au/business/co...612-3a0k2.html

  4. #34
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    Life in the rear view mirror. Auckland housing market is already slowing, farmers are already reacting to the drop in Fontera's projected payout but the Reserve Bank slam the brake pedal to the floor anyway, real visionary stuff. What's wrong with a bit of inflation anyway...and then they complain about the high dollar and wonder why...it almost beggars belief. Pleased I don't have a mortage so I'm insulated from what these rocket scientists at the Reserve Bank do.
    Last edited by Beagle; 13-06-2014 at 09:40 AM.

  5. #35
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    Quote Originally Posted by Roger View Post
    Life in the rear view mirror. Auckland housing market is already slowing, farmers are already reacting to the drop in Fontera's projected payout but the Reserve Bank slam the brake pedal to the floor anyway, real visionary stuff. What's wrong with a bit of inflation anyway...and then they complain about the high dollar and wonder why...it almost beggars belief. Pleased I don't have a mortage so I'm insulated from what these rocket scientists at the Reserve Bank do.

    What matters to the RSB is keeping inflation inside a predetermined band. Whether or not inflation is good or bad is not the point.

  6. #36
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    Quote Originally Posted by fungus pudding View Post
    What matters to the RSB is keeping inflation inside a predetermined band. Whether or not inflation is good or bad is not the point.
    Sounds very like ... Politician 101.
    "My arse in parliament regardless of any negative impacts on the Country,
    Economy, Society, or Whatever else."
    BB

  7. #37
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    New Zealand has one of the lowest population densities in the world. The fact that house prices are even a worry would seem hilarious if it wasn't so sad. The RBNZ is trying to fix a crisis that was created by councils populated with NIMBYs.
    http://en.wikipedia.org/wiki/Director's_law

  8. #38
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    Quote Originally Posted by belgarion View Post
    What matters is the Key & Co have an unholy set of fingers in the pie. The RB of NZ is being unduly influenced by Key & co! Key & Co are becoming a "great octopus" ....
    Whose behind key one may ask?

  9. #39
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    Quote Originally Posted by bmrm View Post
    New Zealand has one of the lowest population densities in the world. The fact that house prices are even a worry would seem hilarious if it wasn't so sad. The RBNZ is trying to fix a crisis that was created by councils populated with NIMBYs.
    http://en.wikipedia.org/wiki/Director's_law
    Councils and Resource consenting is part of the problem. The other issues are to do with the tax advantages that have been associated with investing in residential real estate. The lack of a stamp duty on ownership of more than one residential property, lack of restrictions on absentee foreign ownership of NZ homes play a part. As does the history of NZ equity and capital markets. The 1987 crash looms large as does the 2008 financial cull. Both crises saw greater depletion in investor wealth here compared with most other industrialised countries.

    Owning a balanced diversified portfolio of fixed interest stock and equity, international and NZ, requires a lot of financial and tax planning. NZ tax laws concerning "financial arrangements", PIE tax rules, Foreign Investment Funds are full of a myriad regulations and traps and can result in realised and even unrealised capital gains tax and double taxation. It is often much easier to put all your money in a residential property despite potential problems with some tenants!

    Kiwisaver notwithstanding, unlike other countries, a meaningful (non-pension) scheme to encourage financial investing over real estate investment does not exist.
    Last edited by Bjauck; 16-06-2014 at 08:47 AM.

  10. #40
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    Quote Originally Posted by Bjauck View Post
    ........ It is often much easier to put all your money in a residential property despite potential problems with some tenants! Kiwisaver notwithstanding, unlike other countries, a meaningful (non-pension) scheme to encourage financial investing over real estate investment does not exist.
    IRD says there are no tax advantages for residential property investing. In fact there is a big disadvantage now that residential building depreciation has been removed.

    IMO it is not easier to invest in residential property rather than in, say, the sharemarket. It may, however, be harder to borrow to buy shares though of course plenty of people do. One reason people buy rentals rather than shares is because they have some understanding of property. (So they think, anyway, until things turn to custard.) Plus most people are concrete rather than abstract thinkers, so would rather see the bricks and mortar.

    Disc - I have $ in both. Shares are waaaay less time consuming than rentals.

  11. #41
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    Quote Originally Posted by artemis View Post
    IRD says there are no tax advantages for residential property investing. In fact there is a big disadvantage now that residential building depreciation has been removed.

    IMO it is not easier to invest in residential property rather than in, say, the sharemarket. It may, however, be harder to borrow to buy shares though of course plenty of people do. One reason people buy rentals rather than shares is because they have some understanding of property. (So they think, anyway, until things turn to custard.) Plus most people are concrete rather than abstract thinkers, so would rather see the bricks and mortar.

    Disc - I have $ in both. Shares are waaaay less time consuming than rentals.
    Depreciation was never available for financial investors and owner-occupiers of residential housing still enjoy untaxed imputed rental income return from their equity.

    If instead of having (say) $500,000 equity in a rental house in Auckland, you had $500,000 in only NZ shares, I would agree with you. However you would increase greatly the risk of your investment imo...the returns from NZ shares being much more variable (historically) than returns from housing. That also ignores the fact that many residential real estate investors do borrow to leverage themselves into rental property, so on average the $500,000 equity would equate to owning significantly more assets. So (on average) each $500,000 owner's equity in rental housing reduces the government's tax-take much more that the equivalent invested in financial assets.

    If you diversify away from NZ shares alone that is when you could encounter complex financial arrangement and FIF rules...taxation of capital appreciation (NZ bonds, overseas shares if worth more than $50,000) and then there is also the possibility of unrelieved double taxation (Australian shares etc.).

  12. #42
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    Housing market surely is slowing down, in decline really. The bottom end seems to be thecreason

    https://www.reinz.co.nz/shadomx/apps...siteName=reinz

    Even if there were heaps of 'cheap' houses in Auckland I don't think there are enough people to buy them anyway

  13. #43
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    Quote Originally Posted by winner69 View Post
    Housing market surely is slowing down, in decline really. The bottom end seems to be thecreason

    https://www.reinz.co.nz/shadomx/apps...siteName=reinz

    Even if there were heaps of 'cheap' houses in Auckland I don't think there are enough people to buy them anyway
    Go and have a look at the newer suburbs like Hobsonville where 3 and 4 bedrooms brand new houses with the latest specs are selling as fast as they can build them W69.

    Big reasons are that they are affordable, nicely laid out, have great kitchens and bathrooms and good recreational community parks and recreation areas.

    I think the existing house market is cooling down fast (a very very good thing) as house buyers opt for these new houses in the newer suburbs.

    I have seen in recent weeks some developers trying to sell their inflated priced sections in the established Auckland suburbs - no takers since April.

  14. #44
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    Quote Originally Posted by winner69 View Post
    Whose behind key one may ask?
    He sure seems to be in bed with the USA

  15. #45
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    Quote Originally Posted by Balance View Post
    Go and have a look at the newer suburbs like Hobsonville where 3 and 4 bedrooms brand new houses with the latest specs are selling as fast as they can build them W69.

    Big reasons are that they are affordable, nicely laid out, have great kitchens and bathrooms and good recreational community parks and recreation areas.

    I think the existing house market is cooling down fast (a very very good thing) as house buyers opt for these new houses in the newer suburbs.

    I have seen in recent weeks some developers trying to sell their inflated priced sections in the established Auckland suburbs - no takers since April.
    Agreed--Its not a bad thing the housing market is slowing--Cant go on forever-Time to slow down and take a breath (and I own rentals)
    --Disc.-dont let anyone tell you it isnt a fair amount of work maintaining rentals and dealing with tenants.

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