John Key times the market - profit takes on his Auckland property.

[McDuck]

They say timing is everything.
I suppose when the prime minister calls it time to cash up.. you have to take notice that the market aint getting a second wind.

[Davo36]

You mean this? http://www.nzherald.co.nz/business/n...ectid=11919697

Yeah it's not clear how much he made since he bought it in 2002, but maybe around $10 million?

Pretty good incentive to keep house price rises going during his term in office.

[Nick G]

Meh, he already had $50 mil before starting.

Good on the new for mentioning the nationality of the purchaser too. It's very important.

[jimO]

pretty sure the government doesnt set how much people can sell their houses for

[artemis]

pretty sure the government doesnt set how much people can sell their houses for

Yet.......

[Bob Kane]

Some would say it was a terrible investment - at that price range it would have been negative cash-flow and who wants that?

[Davo36]

Meh, he already had $50 mil before starting.

Good on the new for mentioning the nationality of the purchaser too. It's very important.

It is important to know if it's an NZ person or foreigner I reckon. I don't care if they're from Timbuktu or Peru, but the people of NZ have a right to know how much of our property is being sold into foreign hands surely?

[Davo36]

pretty sure the government doesnt set how much people can sell their houses for

Well actually the kind of do.

With such things as immigration settings right? And by allowing or not allowing overseas buyers to purchase. Right?

[donna]

So he's made $10m, and retained a slice worth $5m which he'll build on and probably double his money again.

"Sold to a buyer in China" yeah well there's not too many locals with the readies for a $20m home. I wonder if it will be rented out?

cheers,

Donna

[Davo36]

I wonder if it will be rented out?

Probably sit empty. These things are more investments than homes.

[flyernzl]

Insurance can be a challenge for empty homes (speaking from personal experience).

[mrsaneperson]

Key should use the house profit to pay back the $26M he wasted on his flag referendum vanity project .The opinion polls prior to the referendum gave enough indication to veto a referendum.

In another horror story parallel he previously ignored 88% of referendum voters who did not want the anti-smacking law.

[McDuck]

Key should use the house profit to pay back the $26M he wasted on his flag referendum vanity project .The opinion polls prior to the referendum gave enough indication to veto a referendum.

In another horror story parallel he previously ignored 88% of referendum voters who did not want the anti-smacking law.

How else was he going to sell New Zealand out from under us?

It's not so easy for American styled multinationals to sink their claws in while we are still protected by British laws and ways of dong things,

Was he ever a New Zealander, or just an American banker in disguise?
(The house in Hawaii and the job with the US Fed makes you wonder).

And to think we gave his family a house when they were down on their luck.
And a good free education to boot.

Some people have no respect.

Anyway, the Empire did strike back.
Gave him a Knighthood.

[jimO]

of course nobody else on here would ever sell their house for double what they paid for it