Housing market contagion spreads.

[McDuck]

I went to an auction this weekend,
And talked to the people bidding.

A market contagion became apparent.

A few of the young couples bidding were not able to get the deposit all by themselves,
Despite saving well.
So they had dipped into the retirement savings of parents, on both sides of the family.

That's 2 trained professionals, with 4 retired people all contaminated by the 15 to 20% housing inflation.
If you don't count the kids that will soon arrive and the other siblings (of the young couple buying).

Not good.

[Jeffa]

The main thing is we're kind,we care we show empathy and my net worth increased dramatically this year.."Feed the world...let them know its Christmas time again " $$$

[Jeffa]

That's 2 trained professionals,

Not good.

Well it's good for me, I own some units in blue chip neighborhoods..I need high income tenants to pay my high rent.

[McDuck]

Well it's good for me,...

Ha!

I did ask the ones that missed out about their plan B.

It did not involve that scenario.

[Jeffa]

Oh yeah baby..

"Wellington city's median house price approaches $1 million - and there's no sign of a slowdown"

" a house in Brooklyn at auction for more than $1.6 million, 40 per cent over its RV and double what its owners paid for it only four years ago."

https://www.stuff.co.nz/life-style/h...-of-a-slowdown

[McDuck]

Oh yeah baby..
"Wellington city's median house price ...

That might be good for you in some ways.
Not so good for Adrian Orr maybe.
Wellington financial bureaucrats might not care if the AUCKLAND JAFFA kids fry on the low interest rate fueled housing market they created..
but it will be another thing when their own Wellington kids and grandkids, and general close social circles start to vilify them.

_____

But back on topic,

Here a story from this morning, showing a side of Housing market contagion I didn't think of. (link below).

https://www.nzherald.co.nz/nz/christchurch-high-court-divorce-case-has-parents-fearing-homelessness/473VMTVWKYBODR4S2PFEYDZLA4/

[Jeffa]

My kids will be fine and I think we can all agree thats all that really matters ...

[absoluteproperty]

That might be good for you in some ways.
Not so good for Adrian Orr maybe.
Wellington financial bureaucrats might not care if the AUCKLAND JAFFA kids fry on the low interest rate fueled housing market they created..
but it will be another thing when their own Wellington kids and grandkids, and general close social circles start to vilify them.

_____

But back on topic,

Here a story from this morning, showing a side of Housing market contagion I didn't think of. (link below).

https://www.nzherald.co.nz/nz/christchurch-high-court-divorce-case-has-parents-fearing-homelessness/473VMTVWKYBODR4S2PFEYDZLA4/

The problem may well there be, that landlords and property owners have been vilified by the government cheered on and backed by the mainstream left leaning media and stirred up so much hatred from the public for so long, that many of us are now immune to the public vilification and hatred. The anger and hatred has absolutely no effect on me and only hardens my stance to be kind to myself and protect everything I have worked so hard for.

As a true property investor, I too am frustrated at the rising house prices and am very disappointed in policy and attempted central bank political manipulation which is now fuelling the fire even further.

I certainly hope we build more than the 7 kiwibuild houses we built in October, this month.

Be kind and be stupid. Listen to the people, but don't hear their crys.

Afterall, being truly kind and truly act on the needs the people ask for will cost you votes in 2024.

[McDuck]

I certainly hope we build more than the 7 kiwibuild houses we built in October, this month.

.

hey...on that subject...have you noticed the huge amounts of housing just about to be dumped on to the market?

It seems every street I drive down has at least two sites where,
a single dwelling has been removed and four higher density homes built there?

Is this happening everywhere?

[absoluteproperty]

hey...on that subject...have you noticed the huge amounts of housing just about to be dumped on to the market?

It seems every street I drive down has at least two sites where,
a single dwelling has been removed and four higher density homes built there?

Is this happening everywhere?

This is not happening anywhere I have noticed personally in the last month in Auckland City, Wellington City, Christchurch City or Lakes districts. I may have missed them. There was some development in Tekapo, but it was largely hotel type builds.

[McDuck]

hmmm..odd..the stats say about 40,000 consents for the year to September.

Immigration has been dead, but there is still a backlog form before.

Interesting.

[Jeffa]

hmmm..odd..the stats say about 40,000 consents for the year to September.

Immigration has been dead, but there is still a backlog form before.

Interesting.

Do you know what happened to the house prices in the 90s when our population decreased?... house prices went up.

There's currently an over supply of apartment's in Auckland to house all the homeless... house prices are up to 1.2 million.

Do you know what will happen if we have an over supply? Increase the m1 money supply... pushing up house prices, it's a rigged system and it ain't never going to collapse.


Remember the good old days of the early 2000s ..they will return if there was ever a threat to house prices... meaning my dog could get a mortgage and you could get a million dollar line of credit.

[McDuck]

Do you know what happened to the house prices in the 90s when our population decreased?...
house prices went up.

Did the population decrease in the 90's?
You might want to check your facts.

What it does seem to show it that the shortage of housing is mostly caused by housing people who were born in Asia.
A new kind of colonization.
The price issue is caused by your central banking friends though.

[McDuck]

Another area of contagion spread just became apparent.

Inexperienced grandparents are buying remote pieces of smallish land,
Using their freehold family home as collateral.

[Don't believe the Hype]

Did the population decrease in the 90's?
You might want to check your facts.

What it does seem to show it that the shortage of housing is mostly caused by housing people who were born in Asia.
A new kind of colonization.
The price issue is caused by your central banking friends though.

a new form of colonization?? what woke BS... that's like saying a light colonizes the moths attracted to it