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  1. #31
    Advanced Member robbo24's Avatar
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    I remember it wasn't that long ago when the likes of Campbell Live used to do stories about vendors being unable to find buyers for houses. Mortgagee sales going without a single bid.

    The God-awful moaning and crying from people got very annoying.

    Now people are moaning about auctions having too many bids and prices being too high.

    Can't wait for the empty Mortgagee sales to come back actually.

    Don't live beyond your means.

  2. #32
    Advanced Member robbo24's Avatar
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    Quote Originally Posted by moosie_900 View Post
    Think you and I should buy up all the housing at mortgagee sales during the next crash eh Robbo? Can call it "The RoboMoose Fund: Terminating the market at every turn with antlers of steel"
    Sure, I have a plan to get us some cheap money for it too.

  3. #33
    Speedy Az winner69's Avatar
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    The world following Wheeler's methods

    http://www.theguardian.com/business/...mortgage-loans

    In a dramatic move, the chancellor plans to allow the Bank of England to limit loans that could undermine the financial stability of the UK housing market.

    In a bid to show he is taking action to boost the supply of homes, Osborne will also say he is making changes to the planning regime that could see a further 200,000 homes built.

    The new rules will allow the Bank of England to set a maximum multiple of income that homebuyers can borrow and prevent mortgage lenders from offering first-time buyers high loan-to-value mortgages


    And praise from the Aussies
    http://www.theage.com.au/business/co...612-3a0k2.html

  4. #34
    ShareTrader Legend Beagle's Avatar
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    Life in the rear view mirror. Auckland housing market is already slowing, farmers are already reacting to the drop in Fontera's projected payout but the Reserve Bank slam the brake pedal to the floor anyway, real visionary stuff. What's wrong with a bit of inflation anyway...and then they complain about the high dollar and wonder why...it almost beggars belief. Pleased I don't have a mortage so I'm insulated from what these rocket scientists at the Reserve Bank do.
    Last edited by Beagle; 13-06-2014 at 09:40 AM.

  5. #35
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    Quote Originally Posted by Roger View Post
    Life in the rear view mirror. Auckland housing market is already slowing, farmers are already reacting to the drop in Fontera's projected payout but the Reserve Bank slam the brake pedal to the floor anyway, real visionary stuff. What's wrong with a bit of inflation anyway...and then they complain about the high dollar and wonder why...it almost beggars belief. Pleased I don't have a mortage so I'm insulated from what these rocket scientists at the Reserve Bank do.

    What matters to the RSB is keeping inflation inside a predetermined band. Whether or not inflation is good or bad is not the point.

  6. #36
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    Quote Originally Posted by fungus pudding View Post
    What matters to the RSB is keeping inflation inside a predetermined band. Whether or not inflation is good or bad is not the point.
    Sounds very like ... Politician 101.
    "My arse in parliament regardless of any negative impacts on the Country,
    Economy, Society, or Whatever else."
    BB

  7. #37
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    New Zealand has one of the lowest population densities in the world. The fact that house prices are even a worry would seem hilarious if it wasn't so sad. The RBNZ is trying to fix a crisis that was created by councils populated with NIMBYs.
    http://en.wikipedia.org/wiki/Director's_law

  8. #38
    Speedy Az winner69's Avatar
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    Quote Originally Posted by belgarion View Post
    What matters is the Key & Co have an unholy set of fingers in the pie. The RB of NZ is being unduly influenced by Key & co! Key & Co are becoming a "great octopus" ....
    Whose behind key one may ask?

  9. #39
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    Quote Originally Posted by bmrm View Post
    New Zealand has one of the lowest population densities in the world. The fact that house prices are even a worry would seem hilarious if it wasn't so sad. The RBNZ is trying to fix a crisis that was created by councils populated with NIMBYs.
    http://en.wikipedia.org/wiki/Director's_law
    Councils and Resource consenting is part of the problem. The other issues are to do with the tax advantages that have been associated with investing in residential real estate. The lack of a stamp duty on ownership of more than one residential property, lack of restrictions on absentee foreign ownership of NZ homes play a part. As does the history of NZ equity and capital markets. The 1987 crash looms large as does the 2008 financial cull. Both crises saw greater depletion in investor wealth here compared with most other industrialised countries.

    Owning a balanced diversified portfolio of fixed interest stock and equity, international and NZ, requires a lot of financial and tax planning. NZ tax laws concerning "financial arrangements", PIE tax rules, Foreign Investment Funds are full of a myriad regulations and traps and can result in realised and even unrealised capital gains tax and double taxation. It is often much easier to put all your money in a residential property despite potential problems with some tenants!

    Kiwisaver notwithstanding, unlike other countries, a meaningful (non-pension) scheme to encourage financial investing over real estate investment does not exist.
    Last edited by Bjauck; 16-06-2014 at 08:47 AM.

  10. #40
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    Quote Originally Posted by Bjauck View Post
    ........ It is often much easier to put all your money in a residential property despite potential problems with some tenants! Kiwisaver notwithstanding, unlike other countries, a meaningful (non-pension) scheme to encourage financial investing over real estate investment does not exist.
    IRD says there are no tax advantages for residential property investing. In fact there is a big disadvantage now that residential building depreciation has been removed.

    IMO it is not easier to invest in residential property rather than in, say, the sharemarket. It may, however, be harder to borrow to buy shares though of course plenty of people do. One reason people buy rentals rather than shares is because they have some understanding of property. (So they think, anyway, until things turn to custard.) Plus most people are concrete rather than abstract thinkers, so would rather see the bricks and mortar.

    Disc - I have $ in both. Shares are waaaay less time consuming than rentals.

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