Header Ad Module

Collapse

Announcement

Collapse
No announcement yet.

NZPIF Cullwick says FHBs contributing to housing crisis

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • NZPIF Cullwick says FHBs contributing to housing crisis

    "So every time a first home buyer buys a house - even though it's great they are getting into the market - it actually makes the housing crisis worse."

    Cullwick repeated that claim on Morning Report on Wednesday.
    Source

    The logic is sound - renters who share accommodation with other renters, then become FHBs results in 2 properties required and that's adding more strain on the housing availability.

    Cullwick also says that a 'downturn' in the market is needed for more houses to be built!

    cheers,

    Donna
    Property Investors Federation executive officer Sharon Cullwick has doubled down on her claims that first home buyers are contributing to the housing crisis.
    Last edited by donna; 06-11-2020, 09:50 AM.
    SEARCH PropertyTalk, About PropertyTalk

    BusinessBlogs - the best business articles are found here

  • #2
    Just not kind and fair to use logic and maths to upset the woke snowflakes though...
    The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

    Comment


    • #3
      That makes no sense.

      Why, if I show a five year old a picture of a house and say " What is this for?", they will say, it's a house , it's for people to live in.
      Note, the child will not say , "it's a speculation vehicle".
      Now, if a five year old can figure it out, what on earth is wrong with Cullwick?

      Comment


      • #4
        Not sure she is entirely correct re. investors not buying. Further on in the article it says:

        Lending to highly-geared investors is up a whopping 134 percentage points.
        cheers,

        Donna
        SEARCH PropertyTalk, About PropertyTalk

        BusinessBlogs - the best business articles are found here

        Comment


        • #5
          Originally posted by donna View Post
          Not sure she is entirely correct re. investors not buying. Further on in the article it says:

          Lending to highly-geared investors is up a whopping 134 percentage points.

          cheers,

          Donna
          That 134% up refers to the number of highly geared investors (over 70% LVR). The total investor borrowers over that 3 month period is up but nowhere near 134%, actually less than 25%. Investors shifted from the previous lower LVR to the new higher because they could once the Reserve Bank made the LVR changes. Hope that makes sense.

          Also the number of investor borrowers and the total amounts borrowed by them does not mean new rentals were added to the pool. May have been borrowing for upgrades for example while interest rates are low.

          Comment


          • #6
            Originally posted by donna View Post
            Not sure she is entirely correct re. investors not buying. Further on in the article it says:
            cheers,

            Donna
            Ha... as salesperson for her lobby group, she has done her job.
            She just makes no sense.
            The public aren't idiots.

            Comment


            • #7
              Originally posted by artemis View Post

              That's 134%.........25%. .
              I was wondering what numbers were important.
              I think the main number is the ratio of investors to nesters.

              I was wondering what that ratio should be,
              100% Investors, no nesters?
              Vice versa?

              And are there any other groups that are secretly taking chunks of the pie, under the radar?

              It's a fun system to iron out and get flowing perfectly.

              Comment


              • #8
                It is a shame that the figures, facts and opinions are presented in the way they are.
                The problem is simple: a shortage of houses.

                Time and time again, PIs and LLs are being made the scapegoats for that problem.
                One caused by gummints first, and rapacious councils, second.

                Unless working on the basis that any publicity is better than none . . . .
                That NZPIF elected to de facto lable first home buyers as part of the problem was just silly.
                Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

                Comment


                • #9
                  Originally posted by Perry View Post
                  ...
                  The problem is simple: a shortage of houses....
                  Grief!

                  There would be too many houses , if there were no people.

                  Soooo....

                  It must NOT be the number of houses..

                  It must be be the RATIO of people to houses.

                  R...A...T...I...O..

                  Now, if half the people want two houses... there's your problem!

                  Pretty obvious.

                  Do people not understand mathematics?




                  Comment


                  • #10
                    The dilemma starts by dividing the residential housing market in investment and owner-occupied homes by discriminatory rules, engaging private landlord to unpaid social services and enforcing housing standards which are good for some type of housing but have opposite effects on others because of design, age, usage etc.

                    It isn’t a dark secret that the density of rental homes outman owner-occupied properties. And looking at demographic changes - smaller families, single households, and people live longer – sure the demand for housing need to reflect that.

                    Everyone needs a home – and using people's homes for politics with no accountability for election promises, when will that stop?

                    Comment


                    • #11
                      I will stop when housing supply equals housing demand - or close to it. Most people know that when demand exceeds supply, the 'true' market price gets distorted upwards. Both rent rates and purchase prices.

                      We would not even be discussing these problems if the woodenheads in W'gton and Councils made residential housing construction simpler.
                      Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

                      Comment


                      • #12
                        The problem is that if you have 23,000 families looking for housing and only 20,000 houses then shuffling the ownership of those houses around will make absolutely no difference to the reality that 3,000 of those families are going to miss out.

                        Comment


                        • #13
                          Originally posted by Perry View Post
                          I will stop when housing supply equals housing demand - or close to it. Most people know that when demand exceeds supply, the 'true' market price gets distorted upwards. Both rent rates and purchase prices.

                          We would not even be discussing these problems if the woodenheads in W'gton and Councils made residential housing construction simpler.
                          lol.

                          Umm.. they really needed to teach new math earlier.

                          Very, very approximate figures, just to get something to stick in that brain.

                          SUPPLY = NZ HOUSES = 1 MILLION approx.

                          DEMAND = POPULATION OF REST OF WORLD = 7 BILLION approx

                          SHORTFALL = 7 BILLION - 1 MILLION approx.

                          SHORTFALL = 7 BILLION approx.

                          Get it?

                          Comment


                          • #14
                            That's just too simple for those caught up in the complexities of their craft, Peter.
                            I.e. Blame someone; anyone; just not us - the gummint and councils.
                            Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

                            Comment


                            • #15
                              Originally posted by flyernzl View Post
                              The problem is that if you have 23,000 families looking for housing and only 20,000 houses then shuffling the ownership of those houses around will make absolutely no difference to the reality that 3,000 of those families are going to miss out.
                              Change 'families' to 'households' and the numbers can change dramatically. Plenty of 'households' have 1 or 2 people and their options are wide open and need not include a 'house'. Today on Trademe about 40,000 vacancies to buy, rent or flat in. Plus there are the places where people can double up with friends or relatives. Plenty of that happens. Needs must.

                              Don't have a clue how many households are looking to buy, rent or flat and are living under a bridge, but nationally probably less than 40,000.

                              Comment

                              Working...
                              X