The dumbest Stuff or Herald headlines (& other news media)

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#3119928 24-Aug-2023 20:24

tdgeek:

Too many quotes

IMHO there is need for landlords. Many people cannot who do not want to buy a home. Some birds make a nest, others roam free. You need to male landlords viable as they serve a need. Imagine if landlords quit the market tomorrow? Lots and lots of houses for sale, prices drop for obvious reasons. Then the reality sets in, where are the rentals for this that want them or need them???

i'm not against investors, just against the short term investors. the part time landlords. long term investing i think is fine. some other countries its common to rent for life, but the houses are also owned for life, often handed down to the family. but here, kiwis flip houses for short term gain. thats what needs sorting.

our housing market is double the size it should be, it withholds massive amounts of capital that could be used elsewhere and we pay a huge amount for that privilage, with most of that going overseas.

interesting how every political party is avoiding fixing the housing market.

Dingbatt

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#3120717 27-Aug-2023 09:16

Funeral Services Accidentally Cremate Man’s Mother Before Funeral. NZ Herald 27 Aug 23

Reporter needs to understand the difference between an accident and a mistake. There’s no doubt a mistake was made, but the cremation was no accident.

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Dingbatt

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#3120849 27-Aug-2023 14:47

And here’s the next one, also from today’s NZH.

’Heads should roll’ following England’s worst ever defeat by Fiji.

It’s the only time Fiji has beaten England, so I guess technically it is the worst, but it is also the best and everything in between.

It would be more accurate if the headline read either “…England’s First Ever Defeat…” or “…England’s Worst Ever Result…”.

And that is the way the article lifted from the UK Telegraph actually reads. So this is all on the sub-editor who chose the headline. It is also presumptuous to think England might not suffer worse over the next several weeks.

“We’ve arranged a society based on science and technology, in which nobody understands anything about science technology. Carl Sagan 1996

MarkM536

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#3121006 27-Aug-2023 21:14

https://www.nzherald.co.nz/nz/why-the-family-court-needs-fixing-and-what-it-does-to-our-children/E43CVWQRTVBSHIG7UG2RUL47MM/

Title says 'Family Caught', URL says 'Family court'.

I thought the editor would have court that mistake.

eracode

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#3121010 27-Aug-2023 21:40

tweake:

i'm not against investors, just against the short term investors. the part time landlords. long term investing i think is fine. some other countries its common to rent for life, but the houses are also owned for life, often handed down to the family. but here, kiwis flip houses for short term gain. thats what needs sorting.

our housing market is double the size it should be, it withholds massive amounts of capital that could be used elsewhere and we pay a huge amount for that privilage, with most of that going overseas.

interesting how every political party is avoiding fixing the housing market.

@tweake Serious question - could you expand on what you mean by this? Housing market is too big - too many houses? Too many houses being churned? How does it tie up massive amounts of capital that could be used elsewhere and how is ‘most of that going overseas’?

What could/should a political party do to ‘fix the market’?

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msukiwi

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#3121035 28-Aug-2023 08:01

MarkM536:....I thought the editor would have court that mistake.

Editor you say.

I thought they didn't exist any more by all the obvious mistakes published these days!

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#3121097 28-Aug-2023 11:16

Dingbatt:

Funeral Services Accidentally Cremate Man’s Mother Before Funeral. NZ Herald 27 Aug 23

I guess the family should at least be grateful they didn't cremate her before her death.

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#3121105 28-Aug-2023 11:27

eracode:

[our housing market is double the size it should be, it withholds massive amounts of capital that could be used elsewhere and we pay a huge amount for that privilage, with most of that going overseas.

@tweake Serious question - could you expand on what you mean by this? Housing market is too big - too many houses? Too many houses being churned? How does it tie up massive amounts of capital that could be used elsewhere and how is ‘most of that going overseas’?

What could/should a political party do to ‘fix the market’?

Too much money is invested in housing, either as owner-occupiers or landlords. That investment money could be used more productively if invested in shares, especially if it was wisely invested in productive companies. But of course that's taxed, whereas there's tax-free capital gains to be made from housing, so that's where people rationally choose to put their money.

I don't know what he means by "most going overseas". Presumably he's talking about foreign landlords, who take their profits overseas. But maybe he means that companies are forced to go overseas to get capital, so those profits go overseas.

The obvious way to 'fix the market' is to bring in a capital gains tax.

eracode

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#3121132 28-Aug-2023 12:30

frankv:

Too much money is invested in housing, either as owner-occupiers or landlords. That investment money could be used more productively if invested in shares, especially if it was wisely invested in productive companies. But of course that's taxed, whereas there's tax-free capital gains to be made from housing, so that's where people rationally choose to put their money.

I don't know what he means by "most going overseas". Presumably he's talking about foreign landlords, who take their profits overseas. But maybe he means that companies are forced to go overseas to get capital, so those profits go overseas.

The obvious way to 'fix the market' is to bring in a capital gains tax.

That is what I was guessing tweake meant. The total amount of money invested in housing is: (total number of houses) x (average value of each house).

If you want to decrease the total investment you could either (a) reduce the total number of houses and/or (b) reduce their average value. Not sure that either of those are practicable, realistic or consistent with a long-term-growth economy. They are also likely to be politically unacceptable.

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tweake

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#3121279 28-Aug-2023 16:52

eracode:

tweake:

i'm not against investors, just against the short term investors. the part time landlords. long term investing i think is fine. some other countries its common to rent for life, but the houses are also owned for life, often handed down to the family. but here, kiwis flip houses for short term gain. thats what needs sorting.

our housing market is double the size it should be, it withholds massive amounts of capital that could be used elsewhere and we pay a huge amount for that privilage, with most of that going overseas.

interesting how every political party is avoiding fixing the housing market.

@tweake Serious question - could you expand on what you mean by this? Housing market is too big - too many houses? Too many houses being churned? How does it tie up massive amounts of capital that could be used elsewhere and how is ‘most of that going overseas’?

What could/should a political party do to ‘fix the market’?

@eracode sorry browser crashing. i might have to make a multi post.

double the size is reffering to the churn. to many sales and result being short length of home ownership. eg we are about half that of usa. hence we could chop it in half and still be perfectly fine.

capital is excessive house prices. for which we pay a big cost due to interest. most of the money going overseas is via banks due to interest.

we basically have increased prices by 300-400% (house to income) and it cost us in interest. thats less money that can go into buisness or in circulation. so a big finianical cost in the long run. all for what?

tweake

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#3121283 28-Aug-2023 17:05

eracode:

tweake:

i'm not against investors, just against the short term investors. the part time landlords. long term investing i think is fine. some other countries its common to rent for life, but the houses are also owned for life, often handed down to the family. but here, kiwis flip houses for short term gain. thats what needs sorting.

our housing market is double the size it should be, it withholds massive amounts of capital that could be used elsewhere and we pay a huge amount for that privilage, with most of that going overseas.

interesting how every political party is avoiding fixing the housing market.

@tweake Serious question - could you expand on what you mean by this? Housing market is too big - too many houses? Too many houses being churned? How does it tie up massive amounts of capital that could be used elsewhere and how is ‘most of that going overseas’?

What could/should a political party do to ‘fix the market’?

my idea is old fashion specualtion tax. tax the difference between buy and sell price. start it at 100% and then reduce it for years of ownership, say 5% per year. so sell for 100k higher, its 100k tax the first year, or 95k the 2nd year, 20 years its tax free. this means no one is going to sell for profit in a few years. most will sell 10-15 year range which is a decent length of home ownership. (usa is ~14 years, compared to nz typical 7 years tho one sources says its currently 5 years for nz). if you have to sell quick (move to new job etc) then selling at buy price of course attracts no tax. those who have lived in a house for 20+ years also can sell with no tax. that way we keep long term investment while getting rid of short term profit making.

also all tax generated goes into home building. that way if people profit a lot, they pay a lot of tax, which pays for houses to be built which counters the demand for housing. nice feedback loop.

that gives short term fast control via taxes, and slow control of demand via building houses.

yeah it would need more IRD staff, but there would be pleanty of ex real estate agents looking for work.

the whole point here is to give an disincentive to profit from housing. the tax has to be extreme. little taxes don't work, they just add to the problems.

also i need to fix all the new housing issues. things like getting rid of council contributions. council funding needs to change so none of it is put onto the housing market.

Dingbatt

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#3121286 28-Aug-2023 17:21

Getting a bit off topic maybe?

“We’ve arranged a society based on science and technology, in which nobody understands anything about science technology. Carl Sagan 1996

tweake

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#3121289 28-Aug-2023 17:25

eracode:

[ I was guessing tweake meant. The total amount of money invested in housing is: (total number of houses) x (average value of each house).

If you want to decrease the total investment you could either (a) reduce the total number of houses and/or (b) reduce their average value. Not sure that either of those are practicable, realistic or consistent with a long-term-growth economy. They are also likely to be politically unacceptable.

we can't really just drop the houses value. tho current inflation is doing a good job of that at the mo. but doing a fix when prices are low is the best time to do it. if they do nothing then its another generation before they get another chance and that may just end up being to late.

" Not sure that either of those are practicable, realistic or consistent with a long-term-growth economy. " see thats the issue right there. thinking that housing is "growth economy". trading houses between each other does not grow an economy. how can it, you had to borrow even more money to pay for it. therefore its actually a cost to the economy.