I really enjoy investing on property, it is something that I have done since I was in my early 20s. I am now in a situation whereby I could very modestly retire and the income from my property investments would make life a little easier. My property investments are not vast and I am not driven to get the maximum return from my properties. ‘Cashflow’ means nothing to me, I invest mainly for interest and I am invested mainly in commercial property now.
My personal belief is that the current rampant growth in house prices in Auckland and now in other main centres of the Country is based purely on greed. It is the investors and speculators that are locking out the first home buyers and preventing them from getting onto the property ladder.
In my opinion I see nothing wrong with investing in one or two rental properties, to provide security and additional income for retirement, but when this is being done to the extent that we are currently witnessing at the expense of young people trying to enter the property market, then it is wrong.
It greatly troubles me to read, in the media, about the braggarts that own vast numbers of rental properties. These people have no social conscience and they are generating their own personal wealth at the expense of other New Zealanders. Equally troubling is this, reported in the Herald today. I would like to see a capital gains tax on all property sales other than the family home and if necessary a similar land tax on all property other than the family home. I would happily pay my share of any taxes to ensure that all New Zealanders have the option of purchasing their own home, which they currently do not have.
My personal belief is that the current rampant growth in house prices in Auckland and now in other main centres of the Country is based purely on greed. It is the investors and speculators that are locking out the first home buyers and preventing them from getting onto the property ladder.
In my opinion I see nothing wrong with investing in one or two rental properties, to provide security and additional income for retirement, but when this is being done to the extent that we are currently witnessing at the expense of young people trying to enter the property market, then it is wrong.
It greatly troubles me to read, in the media, about the braggarts that own vast numbers of rental properties. These people have no social conscience and they are generating their own personal wealth at the expense of other New Zealanders. Equally troubling is this, reported in the Herald today. I would like to see a capital gains tax on all property sales other than the family home and if necessary a similar land tax on all property other than the family home. I would happily pay my share of any taxes to ensure that all New Zealanders have the option of purchasing their own home, which they currently do not have.
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