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Incredibly dishonest - hard to disagree with Heather du Plessis-Allan

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  • Incredibly dishonest - hard to disagree with Heather du Plessis-Allan

    Well here we go - hold onto your seats investors we're in the line of fire yet again.

    This time however, we have at least one journo on our side.

    The Gov't clearly feel they're backed into the corner and now it's time to strike out in a way they believe will appeal to their voters and thus get the popularity vote. Only this time, it may just backfire.

    Grant Robinson says extending the bright-line test may be the way to go as one measure to 'control' house prices. The bright-line test is currently 5 years, and it was increased to it by National. Previously it was 2 years and this essentially caught all the house-flippers, speculators etc as they typically buy and sell within 2 years.

    Heather says the extension of it to 5 years has done next to nothing to dampen house prices and she's not wrong.

    The evidence is there for all to see - house prices rising, and we've also discussed the lack of 'real' action to increase supply' in many discussions (so I have added 'tags' so you can click on a tag and it will show you search results for that word or phase).

    Questions for you....

    So what do you think the bright-line test will rise to? My guess is 10 year but it could be as much as 14 years!

    Will it be applied retrospectively? i.e. backdated to the beginning of this financial year - and this action legal?


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    cheers,

    Donna
    SEARCH PropertyTalk, About PropertyTalk

    BusinessBlogs - the best business articles are found here

  • #2
    I'm not even sure all the people that just piled on to the bandwagon are flippers.

    They really need to see who's buying and why.
    Then figure out what to do to slow 'em down, to match the rate of newbuilds.

    So for example, if you wanted to temporarily remove new property investors from the equation,
    You could target the amount of houses allowed per buyer.

    Simply outlaw multiple house ownership, just for the moment.
    Or make it illegal for the bank to lend on a second house.

    But Brightline? hmmm, they don't understand how it works.

    Last edited by McDuck; 27-11-2020, 02:36 PM.

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    • #3
      Nothing Really New There

      As you observe - it's just the socio-commies looking for a scapegoat for their abysmally horrible and failed housing policy. (If they realistically ever had one)
      Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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      • #4
        Watch for increasing panic and arguing between themselves from Govts, including our bunch. They have backed themselves into a corner where there is no escape...and its all going to get messy here on in.

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        • #5
          Agreed. But messy may not be strong enough. They'll be looking for whippings boys a-plenty, to divert attention from their own failings.

          Despite previous disclaimers to the contrary, I do wonder if the current crop of socio-commie clowns will spring rent controls on the residential rental industry at some stage?

          Hypocrisy. Few do it better than gummints and the socio-commies are better at it than most.

          The imported workers for the summer season thing comes to mind, covid-19 notwithstanding. <sighs>
          Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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          • #6
            Ha!
            They better save the blame storming till next year.

            They need to throw water on the fire before the holidays.

            Otherwise they will be facing a much larger problem when they get back.

            If I was Mr Orr, I would hide under my desk and not take calls for the next two weeks.

            So quick to drop the rates, drop the LVR, inject the billions,
            but not so quick undo his mess.



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            • #7
              3 weeks till Christmas I think they’ll wait until 2021.

              cheers
              Donna
              SEARCH PropertyTalk, About PropertyTalk

              BusinessBlogs - the best business articles are found here

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              • #8
                Originally posted by donna View Post
                3 weeks till Christmas I think they’ll wait until 2021.

                cheers
                Donna
                Ha!
                Procrastination is a big human weakness alright.
                Still,
                I'd never leave a bunch of kids alone in a room for a month.
                I'd just have to keep checking on them regularly.

                Humonkeys with spare time on their paws, can get themselves into all sorts of trouble.
                Bless their energetic little souls.

                Gonna be a mess when they get back.

                Last edited by McDuck; 30-11-2020, 07:16 AM.

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