The people entering rest homes would be about 70 years old plus. There kids would be 40 to 50 year old range. I think they would already be established on the housing ladder by then. If an adult son or daughter is trying to manipulate their parents for their own greed, they are bad people to put it politely.
Kids trying to manipulate parents is nothing new! It has been part of family dynamics since Adam and Eve had offspring. Obviously if dementia is involved, then you need to be wary of elder abuse.
Sure, restricted commodities with high prices may bring out the worst in people. Greed/selfishness depends on perspective. I was thinking about the grand children too struggling to “get on the ladder” these days too. Their parents feel their pressure, especially if they can’t help with the hefty deposits.
How do home ownership rates for those in their forties compare with a generation ago?
"Home ownership rates have fallen to their lowest level in almost 70 years and it is becoming much less common for younger people to own their homes. A new report by Statistics NZ, Housing in Aotearoa: 2020, shows home ownership peaked at 74% in the 1990s, but by 2018 had dropped to 65%. The decline was particularly apparent for younger people, with home ownership rates for people aged 25-29 dropping from almost two-thirds to less than half since the early nineties. In 1991, 61% of people aged 25-29 owned their own home, but by 2018 this had dropped to 44%."
"Home ownership rates have fallen to their lowest level in almost 70 years and it is becoming much less common for younger people to own their homes. A new report by Statistics NZ, Housing in Aotearoa: 2020, shows home ownership peaked at 74% in the 1990s, but by 2018 had dropped to 65%. The decline was particularly apparent for younger people, with home ownership rates for people aged 25-29 dropping from almost two-thirds to less than half since the early nineties. In 1991, 61% of people aged 25-29 owned their own home, but by 2018 this had dropped to 44%."
i wonder if the people that are married or in a committed relationship has also dropped severely over the last 20-30 years for that age bracket 25-29. I’m sure there’s heaps of factors involved in that drop.
I bought my house when I was 24, pretty much everyone else my age (now 33) headed to the UK. Some still there, some back recently. My younger brother has been there for about 3 years now and my younger sister left on the 1st of April.
i wonder if the people that are married or in a committed relationship has also dropped severely over the last 20-30 years for that age bracket 25-29. I’m sure there’s heaps of factors involved in that drop.
That's a good point, and in any case seems that people are settling down and starting families later. Then there are those that start families earlier and if they have not sorted housing it will take them much longer, if ever.
Certainly DINKs have a decent shot at becoming home owners if that's what they want.
I bought my house when I was 24, pretty much everyone else my age (now 33) headed to the UK. Some still there, some back recently. My younger brother has been there for about 3 years now and my younger sister left on the 1st of April.
The opportunity cost of your friends’ OE has been quite high. Using median figures or NZ, You have have had a fantastic percentage capital gain - and even greater depending on the size of any mortgage.
Even if your friends bought a house over there, Since 2011 the NZ median house price is up by about about 115%. UK median house prices are up by about 65% in the same time frame. The rate of exchange today is about the same as what it was in 2011.
I bought my house when I was 24, pretty much everyone else my age (now 33) headed to the UK. Some still there, some back recently. My younger brother has been there for about 3 years now and my younger sister left on the 1st of April.
I bought my first house at 21 with my parents help. Had lots of friends who did things differently. They all had fun while I struggled. Now they struggle and I’m having fun. Young people now need to bite the bullet and save hard. If you struggle when you are young, you will benefit later in life.
Sure I had my parents help, but had I pissed it against a wall they would not have supported me.
I just feel that young people are not as interested in owning houses or parents can’t help them like they used to. Lots of young people I know, class a house as a liability (which technically is) so they would rather invest in shares.
I don’t own a property, became a USD millionaire at 30... through saving as much as possible and investing 90% of that money mainly in the stock market.
I Have avoided all meme stocks and crypto and still managed to do well. I’ve travelled to 39 countries and now am the ripe old age of 31...
I think buying a property would have held me back a lot and am glad I haven’t and don’t intend to own one anytime soon.
I’ve been told numerous times that I’m stupid for not buying property in NZ....
I am excited about OCA can’t wait for results to add to further data on the company.
Looks like $1.30 was pretty damn good buying, vote of confidence with insiders buying :-)
I agree with Maverick, around $2.00 next May looks likely on the cards, baring any economic/housing collapse.
Originally Posted by Gunner
Reply With Quote
Bookmarks