Hi All,
I am heartily sick of all Property Investment being labelled as speculation and me a speculator. Even the Editorial in this weeks Listener uses the S word!!
I've been told I have to save for my retirement as no-one else is going to be responsible for me. I've seen Share markets crash and second tier lenders wiped out with people losing their life savings. Property was my choice as we can see it and while its notional value may rise or fall in effect it is an index linked asset with the rent being an index linked income.
I'm tired of explaining to people that are intelligent in most things but have a particular political bent that many tenants are in houses that they rent for less than the cost of ownership assuming a 20% deposit. Often like us this is possible because we are a comfortable financial position and don't have to wring every last dollar out of the tenant.
Why is buying shares in a "productive" company any more or less speculative than buying a house? If you use a fund manager they take the cream when you are winning and still take the cream when the portfolio is falling! I'd rather control my own destiny. We manage our own shares as diversity is important in investment.
The other thing that I'd like to rant about is how people who have no understanding of it go on about Property having an unfair tax advantage. We have to explain to friends that to qualify for a tax rebate on your other income you have to have made a REAL loss. I think Labour have missed the boat because there isn't a big proportion of the rental housing stock being run as a negatively geared business. It is pure ideological dogma.
I am also a baby boomer so I'm totally responsible for all the woes of later generations. My true tales of interest rates at 25%, having no furniture when we purchased our first place in Aranui at 23 and having to purchase a 20 year old Austin for the same amount that I had sold my 2 year old Capri in Britain are treated like the Monty Python Yorkshiremen sketches.
Listening to Catherine Ryan on National Radio was a hard listen. She had the opinion that it was morally wrong for Landlords to maximise the rent for a property and also they should let to anyone who needed a home. Easy position to take when you are sitting on the side-line.
I have had a fortunate life as I've lived in a time of relative peace and prosperity had a good career that allowed me to semi-retire at 45. I've been lucky but we've made good choices bought assets and worked hard in our careers.
Rant over.
I am heartily sick of all Property Investment being labelled as speculation and me a speculator. Even the Editorial in this weeks Listener uses the S word!!
I've been told I have to save for my retirement as no-one else is going to be responsible for me. I've seen Share markets crash and second tier lenders wiped out with people losing their life savings. Property was my choice as we can see it and while its notional value may rise or fall in effect it is an index linked asset with the rent being an index linked income.
I'm tired of explaining to people that are intelligent in most things but have a particular political bent that many tenants are in houses that they rent for less than the cost of ownership assuming a 20% deposit. Often like us this is possible because we are a comfortable financial position and don't have to wring every last dollar out of the tenant.
Why is buying shares in a "productive" company any more or less speculative than buying a house? If you use a fund manager they take the cream when you are winning and still take the cream when the portfolio is falling! I'd rather control my own destiny. We manage our own shares as diversity is important in investment.
The other thing that I'd like to rant about is how people who have no understanding of it go on about Property having an unfair tax advantage. We have to explain to friends that to qualify for a tax rebate on your other income you have to have made a REAL loss. I think Labour have missed the boat because there isn't a big proportion of the rental housing stock being run as a negatively geared business. It is pure ideological dogma.
I am also a baby boomer so I'm totally responsible for all the woes of later generations. My true tales of interest rates at 25%, having no furniture when we purchased our first place in Aranui at 23 and having to purchase a 20 year old Austin for the same amount that I had sold my 2 year old Capri in Britain are treated like the Monty Python Yorkshiremen sketches.
Listening to Catherine Ryan on National Radio was a hard listen. She had the opinion that it was morally wrong for Landlords to maximise the rent for a property and also they should let to anyone who needed a home. Easy position to take when you are sitting on the side-line.
I have had a fortunate life as I've lived in a time of relative peace and prosperity had a good career that allowed me to semi-retire at 45. I've been lucky but we've made good choices bought assets and worked hard in our careers.
Rant over.
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