NZ 1st homebuyers are ScReWeD...

[SBQ]

The home owning half of NZ happy to keep things rolling, National and Labour on board not wanting to rock the boat.

https://www.theguardian.com/world/20...of-mum-and-dad

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.

[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.

[clearasmud]

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.

[RTM]

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.

[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

[Aaron]

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

[Aaron]

Thinking about it further isn't a wealth tax just stealing The Opportunities Party old equity tax idea.

[Bjauck]

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?

[Sideshow Bob]

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.

[Bjauck]

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!