Housing Crisis What Housing Crisis?

[Don't believe the Hype]

My insurance has, and rates not far behind.

i think perry was taking the puss

[Bob Kane]

For you maybe.
The total buffoonery on both sides, and your inability to see it leaves me wondering if you lot should have bothered coming down from the trees in the first place.

Finally!
Your blood pressure is raised.

Someone had to drag NZ out of the dark and into the light.
Just so happen to fall on the Lange govt.
No govt (or political party) since has wanted to reintroduce Muldoon's measures.
Overall, I think this indicates widespread support for the Lange reforms.
However, we may be missing something.
What improvements can you suggest?

[cube]

Perfect storm as Wellington's rental squeeze spreads to suburbs
4 March 2017


So there we have it! The experts have made their pronouncement!

Keys, Glenn and others of their ilk will be subject to a public execution at a place and time to be advised.

Ahh - but you missed this nugget of blame:

The problem has been compounded by more than 400 more students enrolling this year at Victoria University than in 2015, and more tenants renewing leases, tying up properties.

So, it's their own silly fault.

[Perry]

A bit more on the theme:

Meka Whaitiri: Government response to crisis a disgrace
4 March 2017

In the last week, the National Government has learnt that abolishing the Housing portfolio does nothing to fix the housing crisis. The massive blowout in the emergency housing grant scheme is a scandal that, once again, shows how unprepared and out of touch National is when it comes to housing. The Government expected 1,400 homeless families to need grants to pay for a week's accommodation in a motel, but in the first quarter 9,000 grants covering 2,600 families were issued. The cost to taxpayers was expected to be $2m a year; it was $8m in three months.

[Glenn]

Wrote to Nick Smith two years ago telling him having HNZ tenants on IRRS getting four times the subsidy that tenants in private sector on AS would come back and bite them. It is hitting hard now. Told you so!

[artemis]

Wrote to Nick Smith two years ago telling him having HNZ tenants on IRRS getting four times the subsidy that tenants in private sector on AS would come back and bite them. It is hitting hard now. Told you so!

I often wonder what the housing situation would look like if the Accom Supplement had remained on all rentals, including social housing. (I know, sad life!). Then social housing would be targeted at tenants who could not get private rentals for reasons other than income. That was the original policy, changed by Labour.

[Glenn]

I often wonder what the housing situation would look like if the Accom Supplement had remained on all rentals, including social housing. (I know, sad life!). Then social housing would be targeted at tenants who could not get private rentals for reasons other than income. That was the original policy, changed by Labour.

Goodness it is hard to remember.
As I recall it Helen Clarke introduced the income related rent for HNZ as a way of forcing all the nasty private landlords to drop their rent levels.
As it turned out it forced the rent levels up because suddenly a lot of HNZ tenants no longer needed to double up the numbers to get enough money to pay the market rents that HNZ were charging and there was a sudden increase in demand for private rentals. In Nelson that sudden increase in demand and rent level (I can recall putting some rents up by $50 per week) caused the house prices to go through the roof.
That same factor is today driving Nelson rents making the purchase price of rentals to increase.
Our purchase prices has nothing to do with Auckland investors buying up our rentals.

[Perry]

What Did You Say, Minister?

Yet another perspective on things rental, including the law of unintended consequences. Government numpties, please note!

I.e. Make the RTA as Draconian as it is; make the TT Kangaroo Kourts so heavily biased in favour of tenants; be agonisingly slow in fixing the Osaki case fall-out; always treat symptoms and not prime causes; then the residential Property Investors will move against you by changing their modus operandi.

Wellington's rental squeeze could worsen as homeowners chose Airbnb over renting
8 Mar 2017

The lure of big money could be keeping rental properties out of the general tenancy market. A $1000-a-night home in central Wellington went in an hour to tourists coming for the British and Irish Lions rugby tour.

Airbnb's growing popularity could see the already scarce number of rental properties in Wellington diminish even further over the next five years. Andrew Murray says Airbnb is poised to become even more of a factor in the capital's rental crisis as more and more landlords turn over their flats and apartments exclusively to Airbnb management companies, rather than renting them out the traditional way.

The problem could become as drastic in Wellington and Auckland as it had in Berlin. Last year, the German capital banned Airbnb and its competitors to protect affordable housing and supply in the city. Andrew Murray, the director of Auckland's Apartment Specialists, which sells apartments commonly used as dedicated short-term Airbnb rentals, is warning councils must address the issue now.

Davo - can't you just see the drooling going on in the council offices?

[Davo36]

Yet another perspective on things rental, including the law of unintended consequences. Government numpties, please note!

I.e. Make the RTA as Draconian as it is; make the TT Kangaroo Kourts so heavily biased in favour of tenants; be agonisingly slow in fixing the Osaki case fall-out; always treat symptoms and not prime causes; then the residential Property Investors will move against you by changing their modus operandi.

Wellington's rental squeeze could worsen as homeowners chose Airbnb over renting
8 Mar 2017


Davo - can't you just see the drooling going on in the council offices?

Computer says no!

https://www.youtube.com/watch?v=AJQ3TM-p2QI

In all seriousness though, a successful business starts up helping people to get more for their properties by renting by the night, over a website. So AirBNB does well, priviate owners do well, and what do the council want? A piece of the action of course!

Like the local mafia they are: http://www.duganotherhole.com/?p=186

[Davo36]

Perfect storm as Wellington's rental squeeze spreads to suburbs
4 March 2017


So there we have it! The experts have made their pronouncement!

Keys, Glenn and others of their ilk will be subject to a public execution at a place and time to be advised.

Those property managers gobble up properties!

This shortage type stuff has been going on in Auckland for around 8 years now? Longer?

Nothing done here, so can't see anything happending down that way. Would be less land avaialable in Wellington too I would have thought?

[Perry]

Another Quarter - Another Yawn

Some 9 months later. Prediction date: 24 June 2016

About to burst?

Sooner rather than later.

How soon is soon and how later is later?

New Zealand's housing bubble is about to burst, former British politician and former Waikato University vice chancellor Bryan Gould says. "This is not a normal market. We need to stabilise house prices or else it will burst. That's going to happen sooner rather than later."

[Bob Kane]

For you maybe.
The total buffoonery on both sides, and your inability to see it leaves me wondering if you lot should have bothered coming down from the trees in the first place.

And that was the last post from McDuck.
Not one of his better efforts.

[Perry]

24 June 2016 Prediction

Housing Bubble About To Pop, Bryan Gould Predicts

How's that prediction looking, now?

And what's in a bubble pop, anyway?

[Davo36]

As I said at the time, that guy gets everything wrong.

[artemis]

Lots of interesting stats and graphs in the Housing and Urban Development BIM released today, one of many BIMs.

For example 573,900 households in private rentals and 1,086,700 private owner occupied dwellings Also 285,000 households receiving Accom Supplement but not clear (to me) if they are included in the private rental number. Even if not, that is a larger number of private rentals than I have seen before.

Our home ownership rate is about the same as Australia.

Worth a look as not that common to get an official and current summary.

https://www.beehive.govt.nz/feature/briefings-incoming-ministers-housing-infrastructure