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  1. #1031
    Join Date
    Sep 2008
    Posts
    7,658

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    ^

    maybe a bit harsh

    the byline for the article is

    Dr Eric Crampton is Chief Economist at The New Zealand Initiative.

    New Zealand Initiative nzinitiative.org.nz

    The New Zealand Initiative is New Zealand's leading public policy think tank and business membership organisation.
    Based in Wellington, New Zealand, this non-partisan think tank was formed in 2012 from the merger of the New Zealand Business Roundtable and the New Zealand Institute.
    Wikipedia

    Type:Think tank
    Legal status:New Zealand limited company
    Location:Wellington, New Zealand


    these are the kinds of people i imagine labour listen too during their 400? enquiries

    but the fact that they release stories like this

    does seem to suggest they are not feeling as listen too as they'd like

    as hoskings says

    this is an ideologically driven gov. (at least labour and the greens are...winston 1st is just narcissisticly? driven)

    and when have ideologically driven people ever really listened to criticism

    in any meaningful way?
    Last edited by eri; 21-11-2019 at 08:16 PM.
    have you defeated them?
    your demons

  2. #1032
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,631

    Default

    Quote Originally Posted by eri View Post
    The New Zealand Initiative . . . was formed in 2012 from the merger of the New Zealand Business Roundtable and the New Zealand Institute.

    these are the kinds of people i imagine labour listen too during their 400? enquiries
    Optimist.

    Labour may go through the charade of listening, but that's all.

    Especially to the business round table types - those who Comrade Commissar Cullen generically labelled with his "rich p****s" politics-of-envious-greed slander.

    The current clown crop of W'ton woodenheads terminally suffer from the "we know best" syndrome.

    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  3. #1033
    Join Date
    Apr 2018
    Posts
    260

    Default

    Come on lets be realistic, prior to the 2 stupid periods of greed and Key printing money during the GFC whch fed the second boom, in Auck 3x Multiples was considered the top, we are not at 9x. What do people not get. The damn market is over inflated. 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. And if people lose money playing the market, too FN bad, you missed the boat. So all we can wait for is external economic pressures like the expected decline in Dairy in the US in the next decade, NZ having already rung the neck of out tourism its out of lies/marketing, and with 150% PDebt to GDP. NZ is just a ticking time bomb. No the Bloomberg article hasnt occured yet, but it wasnt predicting when, it was simply stating our key market indicators. Sit back, secure your debt, relax and watch it unfold. If you over mortgaged either go bankrupt or sell and fix debt to asset ratio. What more can people do during a correction. What did investors in Ireland and the USA during the GFC do?

  4. #1034
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,631

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    Quote Originally Posted by OnTheMove View Post
    Come on let's be realistic.
    Who or what is not being realistic?

    Quote Originally Posted by OnTheMove View Post
    Sit back, secure your debt, relax and watch it unfold.
    What is "it" and what will it look like? This "unfold" thing you speak of.

    Quote Originally Posted by OnTheMove View Post
    What more can people do during a correction.
    What people?
    What "correction?"
    How sure are you that your "correction" will happen?
    When will your "correction" happen?
    What will it 'look like?'

    Quote Originally Posted by OnTheMove View Post
    What did investors in Ireland and the USA during the GFC do?
    No idea.
    Why should the same thing happen again?
    Who says it must?
    In New Zealand or anywhere else for that matter?
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  5. #1035
    Join Date
    Jul 2017
    Posts
    316

    Default

    Quote Originally Posted by OnTheMove View Post
    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.
    Don't need to raise interest rates. If RBNZ instituted a debt to income ratio limit, as a macro-prudential measure to improve the financial stability of the banking system, that might achieve the desired result of lower median house price to income multiples.

    Previously the RBNZ wanted to allow a macro prudential policy measure of a debt to income limit of 5.0x but it was reported that Bill English rejected it. A debt to income of 5.0x at a 20% LVR would result in a house price to income ratio of 6.25x


    https://www.interest.co.nz/personal-...-2017-election

    https://www.interest.co.nz/property/...os-home-buyers

    In the UK, the Bank of England instituted debt to income limits of 4.5x on 15% of new lending. At a 20% LVR, that would result in a house price to income of 5.6x

    "The BoE’s Financial Policy Committee said that from October, it would only allow 15 percent of new mortgages to be at multiples higher than 4.5 times a borrower’s income, and that all lending would be subject to extra affordability checks."

    https://uk.reuters.com/article/uk-br...0F10UE20140626

  6. #1036
    Join Date
    Mar 2007
    Location
    Auckland
    Posts
    3,108

    Default

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

  7. #1037

    Default

    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.

  8. #1038
    Join Date
    Jan 2017
    Posts
    14

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    Quote Originally Posted by Don't believe the Hype View Post
    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..?

  9. #1039
    Join Date
    Sep 2008
    Posts
    7,658

    Default

    boomer ideology?

    debunked??

    got a link for that???
    Last edited by eri; 24-11-2019 at 09:22 PM.
    have you defeated them?
    your demons

  10. #1040
    Join Date
    Jan 2017
    Posts
    14

    Default

    LMGTFY smashed+avocado ...


 

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