Auckland Housing Affordability

[flyernzl]

And in the UK the LVRs did not apply to buy-to-rent (ie investment) properties.

[Don't believe the Hype]

Yesterday in wellington was the first nice warm day of the Spring/Summer - I headed into town late in the afternoon for a quite drink. Down at the waterfront we found 2 bars with queue's out the door of people with fists full of $$ waiting to purchase beer/wine by the glass for $10+ per glass.

I wondered as I waited in the line to order one beer and one wine for $20.50, is it possible these are the same folk complaining they can't afford to buy a house?

I'm not saying these folks shouldn't enjoy a drink in the sunshine but I am saying your choices have impacts on other parts of your life.

[bmt]

Yesterday in wellington was the first nice warm day of the Spring/Summer - I headed into town late in the afternoon for a quite drink. Down at the waterfront we found 2 bars with queue's out the door of people with fists full of $$ waiting to purchase beer/wine by the glass for $10+ per glass.

I wondered as I waited in the line to order one beer and one wine for $20.50, is it possible these are the same folk complaining they can't afford to buy a house?

I'm not saying these folks shouldn't enjoy a drink in the sunshine but I am saying your choices have impacts on other parts of your life.

Genuinely, what is the point of this post? This boomer ideology has been thoroughly debunked.. unless you have somehow missed it? Just reinforcing the PT echo chamber or something..?

[eri]

boomer ideology?

debunked??

got a link for that???

[bmt]

LMGTFY smashed+avocado ...

[eri]

LetMeGoogleThatForYou

https://www.lmgtfy.com

For all those people who find it more convenient to bother you with their question rather than search it for themselves.

guess we should be honoured at the attempt to enlighten

fyi

Generations are pretty bogus. The labels we use to casually slice up society — boomer, millennial, Gen X, Gen Z — are a nearly useless way of thinking about politics, culture or business in America. The very idea that tens of millions of people across different classes and races and geographies might hold similar views on a range of subjects just because they happened to be born during the same 20-year span of American history — the whole thing sounds a bit too much like astrology, doesn’t it?

but good luck with the minimalist nihilism

any programmer will tell you

crap in = crap out

...

spending less than your earn

has ALWAYS led to more options

at least the important ones

[Bob Kane]

Genuinely, what is the point of this post? This boomer ideology has been thoroughly debunked.. unless you have somehow missed it? Just reinforcing the PT echo chamber or something..?

It's another example of the group of people complaining about house prices are also loading up on $10 beers and $1000 cell phones.

[Don't believe the Hype]

Genuinely, what is the point of this post? This boomer ideology has been thoroughly debunked.. unless you have somehow missed it? Just reinforcing the PT echo chamber or something..?

It's interesting that you know how old I am from my post... that being said I'm pretty sure I can tell your age by yours.

For the record I'm not a boomer... not even close. What I am is someone who has watched my friends and family increase their expectations of what they SHOULD have in life and regularly whittle away their hard earned.

I've worked in offices with folks who earn multiples of the average salary then sit at the most exclusive (read expensive) restaurants in town hearing them complain about how they can't seem to save any money.

BMT - call it what you want but there are a few truths in life:

1 - The mathematics don't lie. Spend less that you earn the delta will be savings

2 - You don't deserve anything - it doesn't matter what your parents told you you're not that special

3 - You can only spend money once

4 - It's a competitive world - if someone else wants it more than you they'll probably get it (i.e. work harder, pay more)

[Wayne]

I wondered as I waited in the line to order one beer and one wine for $20.50, is it possible these are the same folk complaining they can't afford to buy a house?

Maybe they were thinking the same about you - but you have a house, maybe they do too?
What a load of tosh!

[Wayne]

But no government will do the right thing and raise interest rates, which is how you get kiwis buying Kiwi properties, lower the median house price to 6x multiples and 9% become affordable. Thats not asking a lot.

Is this because property is the only game in town?
Raise the interest rates - suck lots of money in from around the world because there is lots looking for a return - push up the exchange rate - reduce our export competativeness and see how the country as a whole goes.

[flyernzl]

It's pretty much the same logic as 'put a CGT on property to bring prices down' !!

[Don't believe the Hype]

Maybe they were thinking the same about you - but you have a house, maybe they do too?
What a load of tosh!

Nah... based on the data they can't all own houses... but you know that... right?

unless by some statistical anomaly only home owners were among the hundreds strong crowd.

[Perry]

Laugh Until You Cry

Another hilarious prediction from yet another air-headed e-con-o-mister.

Warning to Auckland home buyers: 'The game's over'
29 March 2017

ANZ's chief economist says "the game's over" for Auckland's housing boom, and warned New Zealand's largest city is now heavily exposed to the risk of rising interest rates. While Auckland has a major shortage of new houses being built at a time of record migration, Cameron Bagrie said the real driver of house prices were low interest rates. With mortgage rates already climbing, Bagrie said higher borrowing costs would trump the supply shortage. "I think the big driver is interest rates, and interest rates are heading up," Bagrie said.

"The game's over," eh what?

Just as well he aint a thugby referee.

Do you suppose they go to a special 'sheltered' school for the cranially-confused and intellectually-deficient?

[McDuck]

Another hilarious prediction from yet another air-headed e-con-o-mister.

Warning to Auckland home buyers: 'The game's over'
29 March 2017


"The game's over," eh what?

Just as well he aint a thugby referee.

Do you suppose they go to a special 'sheltered' school for the cranially-confused and intellectually-deficient?

Hmm.

It's not easy to see where this C19 issue will take things.

Very much a butterfly effect.

The game of property speculation seems to be one of deferring payment, or at least deferring work.

and letting inflation hide the trick.

That all depends on cashflow.

By that I mean big amounts of money moving around a global system hiding the slight of hand.

Once that flow becomes a trickle, the slight of hand is revealed.

[Perry]

Another hilarious prediction from yet another air-headed e-con-o-mister.

Maybe that post should've been be cry until you start laughing?

The sky is falling, the sky is falling, the sky is falling . . . quick - to the cave. (of econ-o-mist ignorance.)