We know what is squeezing the life out of the rental market

[PTWhatAGreatForum]

It is inevitable because the same conditions which have previously favoured residential landlords are now coming back to bite them in the butt. Many a member here has bragged about making huge tax-free capital gains and what a great life it is.

On the other hand I have met IRL a couple of the regular posters here and you seem like decent sorts. lol.

One of my top-10 rules for business is avoid industries where supply is subject to restrictions, especially when said restrictions could become politically untennable to the 'powers that be'. Far better the free wheeling world of pure capitalism.

So where do we draw the line? Maybe Gary can enlighten us with his opinion as he has many times before, seeing he is back here now.

[Perry]

Follow The Money Trail

Another thing that the gummint is fiducially avoiding.

Government pockets $37 million in unclaimed tenancy bonds
19 March 2018

The Government pocketed more than $37 million in unclaimed tenancy bonds in the past two years, some dating back to before 1989. Minister for Housing Phil Twyford said a review of the Residential Tenancies Act this year aimed to make life better for renters, however there were no plans to look at changing the process around unclaimed bonds.

Of course not. Because such legislative theft helps pay for ex-PM perks, MP's spouses' subsidised air travel, ex-MP's gold-plated superannuation, Ministerial helicopter joyrides, etc.

Twenty-three-year-old Wellingtonian Dylan Gray felt the sting of losing her bond during her last year of university, and was only able to afford the next bond with the help of her mother.

Doubtless Taxcindarella will be lecturing Phil Twitford on the morality of such things.

Jacinda Ardern calls on Wellington landlords to do what's 'morally right' for students

Still waiting for the do-gooder brigade to stridently assume the moral high ground on this bit of gummint thievery.

[Wayne]

I don't get it?
What part of the bond handling means that people can't claim their bond back?
What should the Govt be doing to fix this thing that dates back to before 1989 and many Govts?

[artemis]

New Greens co-leader - rent controls and tenants rights - her top priority

So Marama Davidson said on The Nation 10 March.

So she'll be pushing hard for changes to the RTA, which Mr Twyford has already indicated are coming.

More landlords selling up?

[Davo36]

With all the problems around, they have decided tenants rights are the top priority... God help us.

[Don't believe the Hype]

Greens? They're shaping up more red than green.

[Beano]

Can anyone remember when residential rent control was in NZ ?
I believe it was around in the 1950s and ended in the 1980s

[fuzzlevalve]

Came in thanks to the "rentpayers association" in 1916. Don't know when it got repealed but was intact through the depression and the 2nd world war.

[Beano]

Came in thanks to the "rentpayers association" in 1916. Don't know when it got repealed but was intact through the depression and the 2nd world war.

How did you remember that ?
Even google could not find out those details

[Davo36]

Muldoon had all the wage and price increases capped didn't he?

Don't think rents though.

Does rent control actually work anywhere?

[eri]

^

depends who you ask

in the short term price controls make prices manageable for consumers

ie current renters love that rent rises slow

but in the long term they accelerate shortages as investment gets diverted to more productive investments

ie fewer properties get rented out, less money gets spent on maintaining them and fewer get built

[Davo36]

^

depends who you ask

in the short term price controls make prices manageable for consumers

ie current renters love that rent rises slow

but in the long term they accelerate shortages as investment gets diverted to more productive investments

ie fewer properties get rented out, less money gets spent on maintaining them and fewer get built

Well this is what I thought too. But many people are convinced they're the solution.

[eri]

a surprising number of people

live pay packet to pay packet

unable to resist the impulse to spend 100% of what they earn

they either can't think about the future

or refuse to

as it upsets them knowing their lack of self control now will cost them in the future

they believe in BIG government, HIGH taxation + collective responsibility

as that's what gives them the most, with the least expected of them

free food, money, housing

why wouldn't they vote for that!

they don't care if everyone is poor

as long as no one has more

they prioritise feeling over thinking

long term thinkers know that such a system is unsustainable

and don't want a sinking future for their children

they see "feeling" as something to be managed

not something to be glorified over thinking

[Learning]

a surprising number of people live pay packet to pay packet unable to resist the impulse to spend 100% of what they earn they either can't think about the future or refuse to as it upsets them knowing their lack of self control now will cost them in the future they believe in BIG government, HIGH taxation + collective responsibility as that's what gives them the most, with the least expected of them free food, money, housing why wouldn't they vote for that! they don't care if everyone is poor as long as no one has more they prioritise feeling over thinking long term thinkers know that such a system is unsustainable and don't want a sinking future for their children they see "feeling" as something to be managed not something to be glorified over thinking

Yes there are a few like this. There are also a few who have nothing left of their income after just covering the essentials. No chance to save anything even if they wanted to. The gap between the haves and have nots is vast.

[artemis]

Yes there are a few like this. There are also a few who have nothing left of their income after just covering the essentials. No chance to save anything even if they wanted to. The gap between the haves and have nots is vast.

And a good part of that gap would be much reduced for households in a stable relationship and those that did not have children until they could house and feed them decently. I remember John Key was heavily criticised (by the usual suspects) for talking about people who made poor decisions. He was right. Not right in all cases of course, but plenty.

When the media daily had sad first home buyers who couldn't, almost none were DINKs any more.