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DaveB
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  #2082566 1-Sep-2018 19:54
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Just to add to my post above, why not go and have a talk with a professional Financial Planner and put a long term plan and objective in place? It is my understanding that they can be of great assistance to people who may be struggling to make that start.

 

Good luck. I recall how hard it was. It must be harder now.


 
 
 

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tdgeek
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  #2082567 1-Sep-2018 19:57
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kobiak:

 

tdgeek:

 

kobiak:

 

what's up with the racial comments blaming immigrants and chinese ppl in particular? I though we are more educated group of ppl and not stuff/nzherald facebook page.

 

this is called globalisation. everyone is free to move where and when they like. the more popular place is - the higher cost of living and housing. NZ is one of the popular destinations for people not because of house affordability, but because it's more or less stable countries to live in, nature and remoteness from the rest of the world.

 

try to get property in LA, SF, Vancuver, London, Paris, Melbourne, Sydney, etc, etc you'd be shocked. NZ house prices are at the bottom from major cities. Mansion for few million $ here would cost few times more elsewhere. 

 

There're houses in AKL under ~650k relatively new like build 8-10 yrs ago. But TOWNHOUSES, which is not kiwi way of living :( we'd seen stand alone houses in this price bracket 6 months ago, okeish houses.

 

IMO, I believe lack of adaptation and willingness to change habits are costing kiwis a fortune.

 

I'd say CHANGE to the world we're all living in.

 

 

Wrong. Ive been to all those cities. NZ being small is more affected by many and rich people buying based on Shanghai or Texas prices. Then those prices become the norm. I agree with him, I used the word foreigner. Houses should be valued with NZ factors, not US, Asian, or Brunei factors. Then only US or Asian or Brunei can afford them.

 

 

Wrong? People roaming is just another factor out of 100s. Rich or poor we want to live where we want and can afford. If people chose AKL, this means it's suitable for living at the current given time, it can be yrs or decades.

 

And because we're living in the global world, NZ prices and affordability depends on US, Asian, etc factors, if they become rich and we are poor, well we are f'ed. Same vs versa. 

 

 

Yes, wrong. People commenting that overseas rich buyers have pumped up the price is not racism.

 

People roaming isn't an issue, it happens everywhere, in minute volume.


MichaelNZ
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  #2082568 1-Sep-2018 19:58
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DaveB:

 

The only advice I can give them is to give up the brand new iPhone or Galaxy every year, stop eating takeaways or going out for a meal every other night, stop buying branded clothing, stop buying convenience lunches, stop spending money on so many PlayStation or Xbox games. That's the things they can change immediately to save a lot of money in one year. I expect at least $8,000 each year, possibly more.

 

Next they could budget their shopping bill, possibly saving $1 - 200 a month. After all, they don't need that cat and dog that they have. Let's not consider the vet bills or food bills for those animals. They don't drink much nor smoke, so that's good. Neither does my daughter and her partner!

 

Oh yeah. Get rid of Netflix, Sky, Amazon and all the other crud companies chasing our dollars. They don't need Spotify, unlimited Spark Data or some such other techie must have.

 

 

Back in the real world, there is a large number who work who can not not afford even if they paid 100% of their income out for a house.

 

Your ridiculous list of consumer purchases is nothing other than a strawman.

 

DaveB:

 

Don't get me wrong. I know it is tough, but I have them and my young son covered with a couple of rental properties that I was fortunate to acquire outside of the main centers.

 

 

Oh, how convenient. All while you are lecturing the plebs.

 

PS: I am luckily not one of the plebs but neither am I so out of touch as to insult people.





Linux Systems and Networks Engineer in the Internet industry | Specialising in Mikrotik | Open to job offers




tdgeek
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  #2082569 1-Sep-2018 19:59
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DaveB:

 

Just to add to my post above, why not go and have a talk with a professional Financial Planner and put a long term plan and objective in place? It is my understanding that they can be of great assistance to people who may be struggling to make that start.

 

Good luck. I recall how hard it was. It must be harder now.

 

 

Agree

 

In the old days, buy the best you can and be frugal till inflation makes your mortgage easy. These days, the plan was generally for a couple to work longer, one salary to live on, the other to save, then you can have a 6 figure deposit. Sounds easy when you say it fast!


kobiak
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  #2082573 1-Sep-2018 20:09
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tdgeek:

 

Yes, wrong. People commenting that overseas rich buyers have pumped up the price is not racism.

 

People roaming isn't an issue, it happens everywhere, in minute volume.

 

 

Hmz... you've lost me. Earlier commenters blamed immigration and asians for pushing up prices (which I pointed about should not be done), and said nothing about rich buyers. I say there's nothing wrong that someone in the world could afford more $$$ value that someone else.

 

My comment about prices overseas was an example, that AKL is not alone and it's everywhere. So what's wrong with that? SF prices don't drive AKL price directly by any means, because we don't have tech level for these super talented and rich. Nor AKL has the lifestyle of Melbourne or economic status of NY, etc etc etc, but AKL is unique and that's why people for the past 20-30 yrs would like to move and live here. what is wrong with that? 

 

meh





helping others at evgenyk.nz


quickymart

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  #2082579 1-Sep-2018 20:45
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Even if I cut back on everything I still wouldn't make enough to save for a half-decent deposit. Yes, it is tough :(
Here's a (I hope) sensible question then. Why aren't the Kiwibuild houses priced lower? The Government wants to get people into housing who are on a living wage. Fair enough, but why aren't they priced closer to $300000-$350000? At $600000 (or more) it's still out of reach for a lot of people, even if they cut back on every single luxury (Netflix, etc) that they have.


MichaelNZ
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  #2082580 1-Sep-2018 20:49
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quickymart:

 

Even if I cut back on everything I still wouldn't make enough to save for a half-decent deposit. Yes, it is tough :(
Here's a (I hope) sensible question then. Why aren't the Kiwibuild houses priced lower? The Government wants to get people into housing who are on a living wage. Fair enough, but why aren't they priced closer to $300000-$350000? At $600000 (or more) it's still out of reach for a lot of people, even if they cut back on every single luxury (Netflix, etc) that they have.

 

 

Because the cold hard reality is too many of the existing home owners want to maintain their delusion of wealth.

 

The people who plan this stuff have no skin in the renter game either.

 

My advice still stands for people in this situation. Move to the provinces.





Linux Systems and Networks Engineer in the Internet industry | Specialising in Mikrotik | Open to job offers




quickymart

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  #2082581 1-Sep-2018 20:51
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You may be right, but that can't be the solution for everyone, surely? Just pack up and move somewhere cheaper?
I know people have done it and it has worked out for them, sure, but unfortunately in my situation that's not practical :(


Geektastic
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  #2082582 1-Sep-2018 20:53
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I thought recent figures suggested overseas buyers amounted to 3% of sales?





Geektastic
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  #2082583 1-Sep-2018 20:56
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MichaelNZ:

What's going to happen then? Something has to crack. Probably already has.


When you get people competing for rentals in Dannevirke and Waipukarau, you know something is wrong.



A big change in rental behaviour.

More long term rentals, such as found in Germany and Holland etc.

A 30 year tenancy with formal rent reviews.





MichaelNZ
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  #2082585 1-Sep-2018 21:05
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quickymart:

 

You may be right, but that can't be the solution for everyone, surely? Just pack up and move somewhere cheaper?
I know people have done it and it has worked out for them, sure, but unfortunately in my situation that's not practical :(

 

 

Yes. As I said before, I am well aware it's not an easy choice. Unfortunately it's the only option (for ownership) I can see available to many people. And when they move to the provinces they will find life. In in the IT industry, there are people like myself around. Come to Dannevirke and surrounds. We could network :-)





Linux Systems and Networks Engineer in the Internet industry | Specialising in Mikrotik | Open to job offers


Batman
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  #2082586 1-Sep-2018 21:06
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MichaelNZ:

 

quickymart:

 

You may be right, but that can't be the solution for everyone, surely? Just pack up and move somewhere cheaper?
I know people have done it and it has worked out for them, sure, but unfortunately in my situation that's not practical :(

 

 

Yes. As I said before, I am well aware it's not an easy choice. Unfortunately it's the only option (for ownership) I can see available to many people. And when they move to the provinces they will find life. In in the IT industry, there are people like myself around. Come to Dannevirke and surrounds. We could network :-)

 

 

Could buy a house in a more affordable place (Christchurch for example) and rent that out?


MichaelNZ
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  #2082587 1-Sep-2018 21:10
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Batman:

 

Could buy a house in a more affordable place (Christchurch for example) and rent that out?

 

 

That's an option for those in the $400k + category?

 

Here, a house and section could be had for under $200k. Well under.





Linux Systems and Networks Engineer in the Internet industry | Specialising in Mikrotik | Open to job offers


tdgeek
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  #2082588 1-Sep-2018 21:11
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kobiak:

 

tdgeek:

 

Yes, wrong. People commenting that overseas rich buyers have pumped up the price is not racism.

 

People roaming isn't an issue, it happens everywhere, in minute volume.

 

 

Hmz... you've lost me. Earlier commenters blamed immigration and asians for pushing up prices (which I pointed about should not be done), and said nothing about rich buyers. I say there's nothing wrong that someone in the world could afford more $$$ value that someone else.

 

My comment about prices overseas was an example, that AKL is not alone and it's everywhere. So what's wrong with that? SF prices don't drive AKL price directly by any means, because we don't have tech level for these super talented and rich. Nor AKL has the lifestyle of Melbourne or economic status of NY, etc etc etc, but AKL is unique and that's why people for the past 20-30 yrs would like to move and live here. what is wrong with that? 

 

meh

 

 

My comment was that mentioning other races that affect us, is not racist. If they were Texas millionaires coming here to happily pay 800k for a 500k house, its the same issue. 

 

I agree, that other cities dont drive AKL prices. People coming here using their overseas wealth to buy a 500k house, but hey thats cheap, ill happily pay 800k is the issue, especially when they are not resident, or who use education by their kids who probably wont use that, to get PR causes a false situation. Which is why on another like thread, I am happy to embrace extra people to boost our population, but they can only build. That way the resident population which is based on NZ incomes and economy, and thus homes, can evolve naturally. If we import citizens, we cannot magically create houses, but they can build, thereby they are housed, and dont impact the current housing population. 


tdgeek
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  #2082589 1-Sep-2018 21:18
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Geektastic: I thought recent figures suggested overseas buyers amounted to 3% of sales?

 

Not relevant. If you go to an auction and half are forego and Kiwi's can't compete, then thats the issue. Kiwis have a budget, some dont, so the standard price rises based on past sales. 

 

3% is false. 3% of all sales, but the issue is up market homes, thats much more then 3%. Wealthy foreigners are not interested in average homes, but if the upmarket homes rise 50% so do the ones lower down too. Lovely house at 500, average house at 300, becomes lovely house at 1000k, average house at 750k

 

Then rents have to rise as the yield is too low. I know a couple here in ChCh that moved to AKL, so they rent their house here for 400 pw, which covers their mortgage. Sweet. Trouble is rent is now 800 pw in AKL


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