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  1. #1
    Join Date
    Jun 2013
    Posts
    1,980

  2. #2
    Join Date
    Jun 2013
    Posts
    1,980

    Default

    "We've been forced to look in west Auckland because the prices everywhere else are so expensive," Miss Longville said. Oh boo bloody hoo. West Auckland. Where they're FROM. Insulting to proud West Aucklanders, much?

  3. #3

    Default

    6.6% ill be crying too LOL

  4. #4

    Default

    Quote Originally Posted by Glizzle View Post
    6.6% ill be crying too LOL
    Low equity loans, profitable for the banks.
    That's why the Banks fought against LVR restrictions.

  5. #5

    Default

    "They are among thousands not able to access their KiwiSaver savings because they are looking at properties above the $400,000 threshold - but anything below that wasn't worth looking at, she said."

    We all had to start somewhere - my first wasn't much to look at either!!!

  6. #6
    Join Date
    Jun 2013
    Posts
    1,980

    Default

    I just saw a 2-bed block/tile unit in Glenfield sell for around $370. Clean, tidy, good location, lots of grass for kids. Moaning waste of space, this couple.

  7. #7
    Join Date
    Mar 2007
    Location
    Auckland
    Posts
    3,060

    Default

    Quote Originally Posted by VCTLDH View Post
    "They are among thousands not able to access their KiwiSaver savings because they are looking at properties above the $400,000 threshold - but anything below that wasn't worth looking at, she said."
    That, of course, is the nub of the problem.

    Not over-inflated prices but over-inflated expectations.

    As a Massey lecturer of property said on the radio the other day, "I was into my 4th or 5th house before I got one with more than one bathroom".

    Like those who say: "I can't afford to buy a house . . ." and then continue " . . . in an area I'd prefer to live in".

  8. #8

    Default

    I don't disagree flyer.....however, we do live in a different city environment than "you young whippersnapper; back in my day"

    Two in full time employment versus likely was only one.
    The commute - time and cost - now to those two jobs is a major limiting factor.
    School zones are even more important now with the competition from offshore students.
    Even things like sports and clubs now, time to venues are so much greater that walking or cycling is less of an option than back in the day.
    If driving is required then there is more weekend employment for a parent than there used to be.

    So yes, expectations in many cases are too high.
    However, in many other cases the practical limits to areas are more easily reached today I reckon.

  9. #9
    Join Date
    Apr 2005
    Posts
    2,735

    Default

    Are they, the sobees, thinking about this clearly?

    Surely the biggest favour anyone could do a first home buyer, is to stop the escalation of housing prices.

    The Reserve bank, in trying to secure the integrity of the commercial banking sector, is working for the new home buyers advantage.

    I’m sure the new home buyers aren’t thinking about this clearly, the ability to afford a loan is not the same thing as the ability to afford a house.

    The Trading Banks are similar to a weapons manufactures,
    they arm both sides,
    thus forcing an ever increasing cycle of having to buy bigger and more destructive weapons.
    Except that banks are using money to arm all opposing bidders at a house auction (with personal debt).

    The Reserve Bank is simply taking the really big dangerous debt weapons out of this money war.
    Once this, Trading Bank fuelled debt escalation manoeuvre, is implemented, other tools can be employed to mop up the issues of the importation of the product of" foreign money", for example… and the like.
    Last edited by McDuck; 17-07-2013 at 01:27 PM.

  10. #10
    Join Date
    Dec 2011
    Posts
    795

    Default

    They are only 22, how many baby boomers and gen x's were able to afford houses when that young?


 

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