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04-12-2018, 02:36 PM
#2301
Originally Posted by Bjauck
Not much in it.....NZ has the more overvalued houses according to https://www.nzherald.co.nz/business/...ectid=12125648
Also NZ is the fifth most at risk housing market in the OECD for a correction. (Australia is the second most at risk and is already in a correction).
Umm Agree Bjauck.
NZ housing affordability is 6.3 times higher than the median household income while in Auckland its 8.8 times higher compared to approx 3 times higher that existed from 1957 --1986 in NZ.
source-- stuff news --economics video.
Huge rates of inward migration (nearly all to AK) combined with glorious tax free, unfair investment opportunity on rising house and especially land prices have spelt a disaster for our Children in our own nation.
I sleep even easier tonight having sold all real estate and committed to OCA and its care associated large income. Beautiful , almost guaranteed positive returns as the tidal wave of elderly care needs bears down upon us. Carry on Earl and Liz as top organisations always need top people and, so far, I like your efforts very very much.
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04-12-2018, 03:51 PM
#2302
Originally Posted by warren
.....have spelt a disaster for our Children in our own nation.
I sleep even easier tonight having sold all real estate and committed to OCA and its care associated large income. Beautiful , almost guaranteed positive returns as the tidal wave of elderly care needs bears down upon us. Carry on Earl and Liz as top organisations always need top people and, so far, I like your efforts very very much.
You have surfed the gilded crest of the property wave with your real estate and are now doing the same on the silver tsunami of demand for Oceania's villages and services!
It is not so disastrous for the heirs who stand to inherit the wealth of those who have built up equity on the back of the past decades of real estate price increases! Those children have often been able to get the helping hand needed to buy their first homes in our expensive country. A landed NZ aristocracy has been born.
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04-12-2018, 04:09 PM
#2303
Originally Posted by Bjauck
You have surfed the gilded crest of the property wave with your real estate and are now doing the same on the silver tsunami of demand for Oceania's villages and services!
It is not so disastrous for the heirs who stand to inherit the wealth of those who have built up equity on the back of the past decades of real estate price increases! Those children have often been able to get the helping hand needed to buy their first homes in our expensive country. A landed NZ aristocracy has been born.
Bank of Mum and Dad is the fastest growing bank in NZ.Non recourse loans the specialty..lol.
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04-12-2018, 04:12 PM
#2304
Let's not get over the top here. The facts remain: NZ is not the only country where housing has become overly expensive - it's a world-wide condition, at least in the Western world ; Far from being a "landed aristocracy", more housing is still owner-occupied than rented.
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04-12-2018, 06:22 PM
#2305
Originally Posted by macduffy
Let's not get over the top here. The facts remain: NZ is not the only country where housing has become overly expensive - it's a world-wide condition, at least in the Western world ; Far from being a "landed aristocracy", more housing is still owner-occupied than rented.
Well said. Actually NZ is in terms of housing affordability much closer to the affordable end if you look at this comparison:
https://www.numbeo.com/property-inve...by_country.jsp
In this comparison sits NZ on place 75 under the countries in the world with a house price to average income of 8.24, while number 1 (Venezuela) has the most unaffordable houses (compared to the average income - sitting at nearly 155). Hongkong is number 2 (with 47) and China number 3 (with 27 annual incomes required to buy an average house).
And yes, I know - these high ratios obviously indicate that the average income in these countries is quite low ... but still ...
NZ is sitting comfortably between Germany (8.48) and Norway (8.18) ... and better (more affordable) than the UK (with 8.89), but I am sure we are whinging much more about the expensive houses than any other country in the world. Maybe we could make a number 1 in the famous "whinge about expensive houses" hitlist.
Admittedly - in the US houses are cheaper for an average income (3.44 annual incomes for an average house), but I am sure that this is only because Trumps rich friends are distorting the average income ;
Last edited by BlackPeter; 04-12-2018 at 06:25 PM.
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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04-12-2018, 06:51 PM
#2306
These house price comparisons have their problems. There is no allowance made for what you get for the money you pay. Compare Spending 1.5M$ in Auckland and the same amount in any other city eg Hong Kong London and New York and see what you get. I live in Auckland and think that it is great. There is no way I would live any where else. Auckland is the bees knees. A lot of other people apparently feel the same and that is why the prices are high.
Last edited by Brain; 04-12-2018 at 06:54 PM.
Reason: Removed word
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04-12-2018, 07:09 PM
#2307
Originally Posted by BlackPeter
...
NZ is sitting comfortably between Germany (8.48) and Norway (8.18) ... and better (more affordable) than the UK (with 8.89), but I am sure we are whinging much more about the expensive houses than any other country in the world. Maybe we could make a number 1 in the famous "whinge about expensive houses....
International inaffordability should also be looked at in context....
What is the desirability of owning compared with renting? If you cannot afford a home to buy what is the rental market like and how secure is renting for good tenants?
Is owning your home and investment property the best way to build up a nest egg as far as after tax return is concerned ( NZ has no general CGT or estate taxes - which other countries are in that position?)
At least with their ORAs the occupants of Oceania's units have a measure of protection for their occupancy not available under NZ tenancy.
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05-12-2018, 11:49 AM
#2308
just as we thought pumped up by the buyers at the 1.10 allocation to sell into. now its falling back to reality
one step ahead of the herd
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05-12-2018, 11:56 AM
#2309
Originally Posted by bull....
just as we thought pumped up by the buyers at the 1.10 allocation to sell into. now its falling back to reality
We have an ebbing DOW tide which tends to drop all boats.
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05-12-2018, 11:57 AM
#2310
Originally Posted by bull....
just as we thought pumped up by the buyers at the 1.10 allocation to sell into. now its falling back to reality
Can you please not put up silly posts on a stock you have little understanding of.PS-Current price is seriously undervalued.
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