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  1. #21
    Join Date
    Sep 2008
    Location
    Tauranga
    Posts
    1,539

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    spread around.
    the last lot that tried that scheme fell in a ditch. So will Tremains.

    Most of those are in tauranga but one in Rotorua is just across the road from mine and they said last week they had rented it for more than advertised.
    Last edited by Viking; 23-02-2020 at 08:22 PM.

  2. #22

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    Quote Originally Posted by Learning View Post
    I'll admit right from the start that I'm not the most intelligent man here but I see a huge problem with that statement.

    Investors invest in something to get something in return. Financially, security or even just the feel good factor. And I think most property investors are buying property to make money.

    Why is property such a good investment for people who want to make money? Because there isn't enough of it! Supply and demand!

    If there were 2 houses for every person there would be no financial property investors as there would be no money to make. Houses would be dirt cheap and you could hardly give them away. But we have the opposite.

    Raise the supply or reduce the demand. Build more houses or reduce the population or some combination of the two.
    There's always a trade off for anything. To me it's a no brainer that if property investment is a good thing then it's gonna make that thing more expensive and hard to get, for everyone. It's not just down to lack of housing. Most investors will buy old properties and do up, not construct new ones and try to milk as much as they can on rent.

    So even if I'm an investor, I won't hide from the fact that me wanting to own as many rentals as I could for my own benefit will feed the wheel of factors that make housing expensive.

    Let's stop being so overprotective guys.

  3. #23
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,487

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    Quote Originally Posted by Mauro View Post
    Let's stop being so overprotective guys.
    There are two separate components, though.
    * Availability;
    * Price.

    An over-supply of houses would cause prices to be lower and rents to be lower.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  4. #24
    Join Date
    Apr 2004
    Location
    Auckland
    Posts
    2,031

    Default

    What's the best cure for high prices?
    High prices.
    But that works in a free market - not what we have unfortunately.
    The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

  5. #25

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    Quote Originally Posted by Perry View Post
    There are two separate components, though.
    * Availability;
    * Price.

    An over-supply of houses would cause prices to be lower and rents to be lower.
    Problem is, nothing seems to be driving construction of new houses more affordable or profitable because it's more comfortable to buy and inflate existing ones.
    Little of this increase of wealth is helping increase of supply, as capitalism should be. It's not balancing itself out for more than a decade now, it's just inflating.

  6. #26
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,487

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    Quote Originally Posted by Mauro View Post
    Problem is, nothing seems to be driving construction of new houses more affordable or profitable . . .
    And what might be the cause of that?
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  7. #27
    Join Date
    Jan 2012
    Posts
    1,142

    Default

    Quote Originally Posted by Mauro View Post
    Little of this increase of wealth is helping increase of supply, as capitalism should be. It's not balancing itself out for more than a decade now, it's just inflating.
    Population growth over last 50 years: 2.8mil 1970 to 4.9mil now. Fastest growth has been in the last 10 years of 2.1% average per year.

    The average number of approved new housing consents per year in the last 10 years: 1.6% of existing stock annually.

  8. #28
    Join Date
    Oct 2015
    Location
    Rotorua
    Posts
    490

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    Quote Originally Posted by Mauro View Post
    Problem is, nothing seems to be driving construction of new houses more affordable or profitable because it's more comfortable to buy and inflate existing ones.
    Little of this increase of wealth is helping increase of supply, as capitalism should be. It's not balancing itself out for more than a decade now, it's just inflating.
    Simple math - I can still buy standalone 3 bed house in average to good area in Vegas for $450k which likely won't need much maintenance. If I want to build it's $170-200k for a section. Then $300-340k for spec 3 bed house with garage. What exactly wasting $100k and 6-8 months of not receiving rent has to do with "comfort"?

  9. #29
    Join Date
    Oct 2015
    Location
    Rotorua
    Posts
    490

    Default

    Quote Originally Posted by Learning View Post
    Population growth over last 50 years: 2.8mil 1970 to 4.9mil now. Fastest growth has been in the last 10 years of 2.1% average per year.

    The average number of approved new housing consents per year in the last 10 years: 1.6% of existing stock annually.
    Of which maybe only half will lead to actual houses being built.

  10. #30
    Join Date
    Jul 2017
    Posts
    312

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    Quote Originally Posted by AlFa View Post
    Simple math - I can still buy standalone 3 bed house in average to good area in Vegas for $450k which likely won't need much maintenance. If I want to build it's $170-200k for a section. Then $300-340k for spec 3 bed house with garage. What exactly wasting $100k and 6-8 months of not receiving rent has to do with "comfort"?

    Just want to clarify with you. Are you referring to:

    1) Las Vegas (I do know some investors who have bought in Las Vegas)
    2) Roto Vegas
    3) other Vegas


 

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