NZ 1st homebuyers are ScReWeD...

[Aaron]

Thank you. I do understand you when you talk about average income and then median income and compare it to the value of a house. I have always been told by my father, In times where people want average incomes they receive an average financial life. I would not be in the position I am in without him.

Financial literacy is important for young people and without a person guiding them, they most likely won't own a home. I looked into it further and I found most young people who never wanted to own a home came from parents that could not get through to their children about the importance of investing (Not at a Bank).

Another thing that bothers me are young people that work only want to work 30-40 hours per week..... what about a side hustle to earn more. People have not got rich from working 40 hours per week, unless lucky or extremely frugal. If you are under 30 and single is that you should be able to work 70 hours per week and that will help save you heaps. I worked 7 days per week for a long time longer than 30. People should not just feel 40 hours is enough.

I don't want low interest rates for a long time, I just want inflation under control for the poor, which includes some of the middle income earners now.

I was thinking last night if the house you wanted to buy has fallen in price the same as the two you want to sell then you would be no worse off buying and selling in the current market. Although the house you want to buy might be in a desirable location and with real estate I have heard it is all about location, location, location.

I feel a bit mean spirited arguing for the impositions on the landlords when you have been working 7days and long hours. In your case taxation might be more like penalising success/effort particularly income tax as this was charged on every hour you worked. Not so much for people born to wealth though.

Not sure I agree with 70-80hours 7 days a week. Some people have a poor attitude to work and responsibility and are lazy. I have most of those tendencies, that is why I post on the political threads as I have not done the work to contribute to the investment threads.

Yes work hard and smart if you want to get ahead, but some people's aspirations might be lower, aspirations such as enough to live on and time with the family, especially a young family. Tricky, no right or wrong just some happy middle that works the best for most people.

Doesn't sound like you necessarily enjoyed working 7days a week but hopefully reaping the rewards later in life. I would note that the theory is if interest rates go down economic activity and inflation go up so higher for longer might be the way to go to control inflation. I also wonder if the economy can sustain itself at 5.5%OCR. maybe the RBNZ should just stop meddling, although I am sure Adrian enjoys being the centre of attention when he makes his announcements.