Housing affordability: Letter to Editor

[Glenn]

I thought the property investor community might enjoy reading my latest letter to the Editor of the Nelson Mail newspaper. It got published this evening. I was really chuffed to see it hit the prime spot of first letter and the newspaper gave it a massive heading. Comments, brickbats and similar letters to local newspapers is encouraged. Here it is.

Sir, I am really astounded at the recent comments about affordable housing in Nelson.
Last week I sat quietly through Nick Smith’s address at the Housing Forum. He blamed
increasing house prices on councils, materials, and land speculators. For the previous
few years I have heard him blame property investors. Winston Peters and others are
blaming the Chinese. Nick laments the few new houses that are being built are all
large expensive ones.

Surprise the Government policy of discouraging new investment in rental housing has
worked. They have done this by both zapping us with more taxes and relentless rhetoric.
Landlords have been scrambling to recover the extra taxes and other costs by increasing rents.

Many have found the market would not absorb any more rent increases and some have
sold to avoid losing more money. Goodness if I put animals into my flats I would be able
to depreciate the buildings because they would be a productive enterprise. But if I house
people I get penalised. My friends and I house one third of humanity. We are not bad
people we are just going about our daily work caring for people who can not afford to
house themselves.

Glenn Morris
Secretary Nelson Property Investors Association.

[AndrewENZ]

Well said!

[eri]

let us know the best responses

relevant article

It was "a continuation of the rental story that has been in play for some time - up in Auckland and Christchurch, flat across the rest of the country".
Rents in his company's portfolio last month were on average 7 to 10 per cent higher in Christchurch and 3 to 8 per cent higher in Auckland than a year ago.
In other areas, rents were barely keeping up with inflation, he said.

http://www.stuff.co.nz/business/mone...across-country

[Glenn]

Feed more hay to the tenants and scoop up the manure.

[klauster]

Glenn, I like what you are doing and how you are doing it – we need more, have you ever thought being cloned?

[Glenn]

Glenn, I like what you are doing and how you are doing it – we need more, have you ever thought being cloned?

Thanks for the nice words. I think society would not want two of me. On that subject though have you noticed how the REI members never get involved in politics at a local level. They seem to be loath to engage with the media. Of course whilst I must admit my spelling and grammar is poor very few people these days seem capable of writing any sort of document. The letters that get sent to me by tenants and neighbours keep our staff entertained.

[Perry]

Another erudite piece, Glenn.
Succinct and to the point.
If Nick reads it, will he need
a policy analyst to explain it?

Hell, do you suppose any of
them would grasp the principle
in the law of unintended con-
sequences? Hhmmmm . . . .

[Glenn]

If Nick reads it, will he need
a policy analyst to explain it?

Hell, do you suppose any of
them would grasp the principle
in the law of unintended con-
sequences? Hhmmmm . . . .

Well I just about wet myself wanting to shout down his wrong statements. But by leaving the comments to a newspaper I hit a far wider audience. An audience that perhaps will quietly whisper sweet nothings in his ear. So yes I do hope he reads it. He has more than once bailed me up in the street and challenged me with having more appearances in the newspaper than him. Clearly a false statement but people like me are always a challenge to him because some of us whilst not being agreed with do have a bad habit of influencing people. I am not so full of s to think I as a lone voice in the wilderness can reverse the direction of the roller coaster. However I do believe I can slow it down and perhaps even knock the odd wheel off the carriage. The masses do enjoy the odd accident especially when the victim has been a high roller. They never blame the person who kicked the wheels off they always say the victims deserved all that they got for daring to be adventurous. As for the "law of unintended consequences" Who ever said that it was unintended. The Minister of finance (aka absentee dairy farmer) and the Governor of the Reserve Bank want people to stop investing in houses. Their biggest failing is to know when enough is enough. Nick has stumbled on his sword so many times. What is the bet he is being set up by the smarty pants brigade from Auckland. I will give him 12 more months before he gets caught out by the very people he is doing his best to help.

[speights boy]

Hell, do you suppose any of
them would grasp the principle
in the law of unintended con-
sequences? Hhmmmm . . . .

Renting in Auckland becomes easier

In central Auckland, the supply of rentals was up 5 per cent on the previous year while demand was down 2 per cent and average asking rents declined by 1 per cent.

That trend was even more pronounced in other parts of the city with supply up 14 per cent in Manukau, 18 per cent on the North Shore and 13 per cent in Waitakere.

Demand was down across the city, falling 2 per cent in Manukau, 8 per cent on the North Shore and 6 per cent in Waitakere.

www.stuff.co.nz/business/industries/8891266/Renting-in-Auckland-becomes-easier

[Dood]

rents in abundance

Renting in Auckland becomes easier

www.stuff.co.nz/business/industries/8891266/Renting-in-Auckland-becomes-easier

Well that means no end in sight for the current boom as first home buyers leaver the tenant pool and push up house prices . No surprises here really. IMHO

[speights boy]

^
But where is the shortage of rentals in Akl caused by the removal of building depreciation?

[mortgage broker]

Rent increases are a recent symptom.

[speights boy]

Nick has stumbled on his sword so many times.

Well, he certainly made the right decision here.
Bit of a dummy spit from the developer though.

Government axes Milford Tunnel

He said the developers had indicated they would take legal advice about the decision.

Milford Dart managing director Tom Elworthy, in a brief email, said the decision was political.

''[I am] Disappointed of course. National trying to out-green the greens. Going skiing.''

www.stuff.co.nz/national/politics/8930108/Government-axes-Milford-Tunnel

[eri]

we call it middle earth

but are afraid the hobbits will make harmful holes