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quickymart
5703 posts

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  #2572985 23-Sep-2020 17:53
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quickymart
5703 posts

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kingdragonfly

5095 posts

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  #2574670 26-Sep-2020 15:08
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I know I've said it over and over

When you can make more from selling a single small family home in the Auckland suburbs than winning first prize in the national lotto, it underlines the fact we need a much better than our barely-there capital gains tax.


mattwnz
16831 posts

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  #2574738 26-Sep-2020 19:12
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kingdragonfly: I know I've said it over and over

When you can make more from selling a single small family home in the Auckland suburbs than winning first prize in the national lotto, it underlines the fact we need a much better than our barely-there capital gains tax.

 

 

 

IMO there are to many people with vested interests in property, to make objective decisions regarding the taxing of property. This is because most people making such decisions are property owners, or have trusts that own proeprties. Anything above inflation IMO should be taxed on all property including family homes.People are only paying tax on the profit they make, so they don't actually lose money. The record low interest rates are just pushing rices up and up and it has gone mad since post lockdown. If it doesn't come to property, then taxing is going to occur somewhere else, to pay for all our debt. IMO it appears that much of the borrowing and printing money s going to go towards bailing out the housing market with lowering interest rates, to keep house prices rising. But that is coming at the cost of people who save, who are going to miss out on billions in interest. So it appears to be shifting the wealth from savers to home owners, some  who borrowed crazy high amounts.     The greens planned tax on 'wealth' , which IMO is an 'envy' or ' tall poppy' tax, is potentially far worse than CGT for home owners as prices continue to rise. I don't think that is the solution. I like the Maori parties policy of an empty house tax, or forcing people who have empty houses and not renting them out, to sell them. It appears a lot of houses are not being used in NZ. Also why have we been importing up to 80000 people are year from overseas, when we aren't building that many houses a year. It is almost as though they have been trying to artificially create demand and push up prices or something. I am pretty frustrated by the situation, but it is barely an election policy this year, this year there don't really seem like too many major policies.


BlinkyBill
1050 posts

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  #2574750 26-Sep-2020 19:37
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How will people pay for their retirement then?





BlinkyBill


kingdragonfly

5095 posts

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  #2574758 26-Sep-2020 20:39
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It's always interesting to hear people push forward small investors, when you know they're large investors.

Here's my re-imagining of a multi-national farming corporation TV commercial:

Scene opens with a multi-racial farmer wearing overalls exiting a 1940's tractor in front of a white-picket fence, with a few chickens and lambs happily frolicking near-by.

"It's makes me so dog-gone sad when the goberment wants to tax us small-time farmers. My grandpappy once said keep goberment out of our pockets and off our land, 'cause we little folks are doing all right, thank you very much.

So make sure you tell your representative, hey the rich only got rich so they can retire in their modest rural 2 bedroom house on a 1/4 acre.

So as a typical farmer toiling honestly on this small 3 acre plot, there shouldn't be any tax on anything I make, even if I happen to own a few extra properties on the side.

It was good enough for grand-pappee, it should be good enough for you."

quickymart
5703 posts

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  #2576132 29-Sep-2020 20:39
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kingdragonfly

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  #2577304 1-Oct-2020 14:01
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Weird observation.

I was looking at mortgage rates https://www.interest.co.nz/borrowing

The Chinese banks had the highest rates
  • Bank of China
  • China Construction Bank
  • HSCB "Hongkong and Shanghai Banking Corporation Limited"


Not sure of the significance.

On a different subject, BNZ unadvertised rates are 0.1% to 0.2% lower than shown.

Checking with Mike Pero to see who has best deal.


wellygary
4995 posts

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  #2581786 9-Oct-2020 09:44
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quickymart:

 

Bernard Hickey article: https://www.stuff.co.nz/business/300121973/heres-how-new-zealand-could-create-affordable-housing

 

 

The whole "council's cant afford the infrastructure" is just plain bollox,

 

The problem is that council's are totally unambitious in terms of zoning new land for residential development, and in the case of the main metros... captured by the "smart dense growth" agenda....

 

SPVs are available to allow for the debt to be ringfenced from the council's accounts, but councils need to step up and say we will allow 5000 homes to be built here over the next 3 years, change the zoning and allow large scale construction to occur..

 

The biggest drivers of NZ house prices are land availability and bespoke designs/small volumes....

 

Chch showed that when the RMA was shoved out of the way and there was large scale construction that could catch up with demand the overall cost of all housing stabilised....

 

 

 

 


quickymart
5703 posts

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  #2581822 9-Oct-2020 11:01
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That would be awesome!
Here's a hypothetical. Say someone could wave a wand and 100 000 new houses were built overnight (impossible, I know, but...)

 

What kind of effect would that have on house prices? Suddenly there are more than enough properties to meet demand. Would prices go up, down, or stay the same?


BlinkyBill
1050 posts

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  #2581846 9-Oct-2020 11:15
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quickymart:

 

That would be awesome!
Here's a hypothetical. Say someone could wave a wand and 100 000 new houses were built overnight (impossible, I know, but...)

 

What kind of effect would that have on house prices? Suddenly there are more than enough properties to meet demand. Would prices go up, down, or stay the same?

 

 

it’s about supply and demand. If there’s more supply than demand, prices will drop. It’s pretty simple.





BlinkyBill


quickymart
5703 posts

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  #2581862 9-Oct-2020 11:45
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As evidenced by petrol prices during the first lockdown :D


wellygary
4995 posts

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  #2581864 9-Oct-2020 11:49
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quickymart:

 

That would be awesome!
Here's a hypothetical. Say someone could wave a wand and 100 000 new houses were built overnight (impossible, I know, but...)

 

What kind of effect would that have on house prices? Suddenly there are more than enough properties to meet demand. Would prices go up, down, or stay the same?

 

 

It would take the heat out of markets, and prices would likely stall.... (whether markets went up or down would also depend on how much the 100,000 new houses cost)

 

But markets would then go back to "Location, location, location"

 

Houses in close proximity to city centres or transport links would command premiums,

 

 


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