NZ 1st homebuyers are ScReWeD...

[ynot]

Good post on the fragile state of NZ Logen. Something's got to give.

[Valuegrowth]

https://www.stuff.co.nz/business/127...est-rate-hikes
Putin's war on Ukraine could raise inflation but slow global interest rate hikes


https://www.housingwire.com/articles...in-short-term/
Ukraine conflict could lead to lower mortgage rates in short-term

[Crypto Crude]

Oh well I finally did it... It took me 15 years but I'm accepting the offer on a house next week...exactly how I said I would do it no loan 100% freehold...
I can only afford to buy on the West Coast...
I'm looking forward to it.. fishing, boating camping hiking...

It's been one hell of a ride...
The highs and lows and have incredible... from the depths of disappear to Valhalla and back...
I've made so many mistakes...
But doing crypto has been one of the best decisions I ever made...
5 years ago everybody said crypto was a waste of time... now crypto is the bees knees...
I've managed to make decades of returns in little time...
Thank you crypto...
cc

[ynot]

Oh well I finally did it... It took me 15 years but I'm accepting the offer on a house next week...exactly how I said I would do it no loan 100% freehold...
I can only afford to buy on the West Coast...
I'm looking forward to it.. fishing, boating camping hiking...

It's been one hell of a ride...
The highs and lows and have incredible... from the depths of disappear to Valhalla and back...
I've made so many mistakes...
But doing crypto has been one of the best decisions I ever made...
5 years ago everybody said crypto was a waste of time... now crypto is the bees knees...
I've managed to make decades of returns in little time...
Thank you crypto...
cc

Congratulations CC.

[Bjauck]

Oh well I finally did it... It took me 15 years but I'm accepting the offer on a house next week...exactly how I said I would do it no loan 100% freehold...
I can only afford to buy on the West Coast...
I'm looking forward to it.. fishing, boating camping hiking...

It's been one hell of a ride...
The highs and lows and have incredible... from the depths of disappear to Valhalla and back...
I've made so many mistakes...
But doing crypto has been one of the best decisions I ever made...
5 years ago everybody said crypto was a waste of time... now crypto is the bees knees...
I've managed to make decades of returns in little time...
Thank you crypto...
cc

Will it be a big change of lifestyle from a town or big city? It sounds like a slice of paradise.

[fungus pudding]

Oh well I finally did it... It took me 15 years but I'm accepting the offer on a house next week...exactly how I said I would do it no loan 100% freehold...
I can only afford to buy on the West Coast...
I'm looking forward to it.. fishing, boating camping hiking...

It's been one hell of a ride...
The highs and lows and have incredible... from the depths of disappear to Valhalla and back...
I've made so many mistakes...
But doing crypto has been one of the best decisions I ever made...
5 years ago everybody said crypto was a waste of time... now crypto is the bees knees...
I've managed to make decades of returns in little time...
Thank you crypto...
cc

It's hard work finding a property in NZ that isn't freehold. In simple terms, freehold means not leasehold. IOW the owner of the improvements also owns the land rather than renting it. A high percentage of freehold properties are mortgaged. The correct term for these is encumbered or just mortgaged. Calling an unencumbered property ' freehold' is a common misnomer, but it has no place in a forum that deals in financial matters.

[Crypto Crude]

Will it be a big change of lifestyle from a town or big city? It sounds like a slice of paradise.

Yeah man ...
Lol buying a house stressful much?
Just seen one 20k more but its pushing my finances.. .... but offers me more...way more....gona now have to try call in a favor to get me over the line...
Have Hella locked up in crypto... lol...


Thanks fungus I won't make that mistake again ....
cc

[Aaron]

https://www.stuff.co.nz/business/128...uses-last-year

Apart from the ridiculous situation where owning a home and staying in bed earns you more (untaxed) than a 9-5 job (taxed), it appears homeowners are concerned but not concerned enough to do anything about it at the next election.

Can you blame them?

Policy change required at RBNZ, scrap inflation targeting and trickle down economics.

[fungus pudding]

https://www.stuff.co.nz/business/128...uses-last-year

Apart from the ridiculous situation where owning a home and staying in bed earns you more (untaxed) than a 9-5 job (taxed), it appears homeowners are concerned but not concerned enough to do anything about it at the next election.

Can you blame them?

Don't overlook the fact houses depreciate, or fall below their replacement cost as time goes by: i.e. the value reduces. Simpletons get confused by the nominal increase caused by inflation. The owner does nothing at all to cause this, so it would be particularly harsh to tax them on this gain when the poor blighter has done nothing at all to cause this situation.

[Aaron]

Don't overlook the fact houses depreciate, or fall below their replacement cost as time goes by: i.e. the value reduces. Simpletons get confused by the nominal increase caused by inflation. The owner does nothing at all to cause this, so it would be particularly harsh to tax them on this gain when the poor blighter has done nothing at all to cause this situation.

I think simpletons also pay tax on their nominal wage increases last time I looked. Some of them enter a higher tax bracket through bracket creep as well but as you say owners of capital should not have to pay tax but labour should. So very sensible now that you have explained it to a simpleton like me.

To say the poor blighter has done nothing at all to cause house price inflation is not exactly true. Of course he has, he has voted national or labour on the basis they don't rock the boat on monetary policy and house prices and lose the boomer vote.