Covid-19 Economic & General Effects for PIs & PMs

[sparxNZ]

Key question here is does the government expect landlords to extend the tenants credit, or is it welfare?

The government expects the following to happen....

1. Tenants stop paying rent.
2. Landlord has to wait 60 days before applying to tribunal and is unable to evict tenant.
3. Bank gives landlord a mortgage holiday.
4. Interest on landlord's mortgage keeps accruing during the mortgage holiday.
5. Eventually everyone starts making their payments again and the only difference between then and now is that the landlord is now deeper in debt. Whether the missed rent is recoverable remains to be seen. If Jacinda has her way I'm quite sure it won't be.

In the aggregate, the government expects landlords to take one for the team.
Hardly surprising, they've despised us since they started.

[Frezzinghot]

Our greatest economist - Eaqud - is predicting a deep dark recession. So that’s a relief. With his track record of successful calls it’ll probably be over by next week.

I doubt it, not this time!

[Frezzinghot]

The government expects the following to happen....

1. Tenants stop paying rent.
2. Landlord has to wait 60 days before applying to tribunal and is unable to evict tenant.
3. Bank gives landlord a mortgage holiday.
4. Interest on landlord's mortgage keeps accruing during the mortgage holiday.
5. Eventually everyone starts making their payments again and the only difference between then and now is that the landlord is now deeper in debt. Whether the missed rent is recoverable remains to be seen. If Jacinda has her way I'm quite sure it won't be.

In the aggregate, the government expects landlords to take one for the team.
Hardly surprising, they've despised us since they started.

Youve missed one.

6. Mass exodus of the private rental market, Government become the only landlord in the country!

[sparxNZ]

Youve missed one.

6. Mass exodus of the private rental market, Government become the only landlord in the country!

Maybe.
I think that's only likely if the government continues the rent freeze for an extended period, like years.
I mean all the other landlord bashing they have done up until now has actually benefited some investors. I've done really well out of it because it's driven rents through the roof. I've made more in rent increases than it cost me in insulation etc.
It's boosted capital growth as well probably due to the unmitigated disaster that is kiwibuild and the utter failure to address any of the actual drivers behind the housing crisis. If all they do is more of the same when things return to normal I can't see too many investors bailing out because the returns keep getting better on account of afore mentioned incompetence.
All that being said, I have a feeling our little Karl Marx protege has designs on far greater control over the provision of rental housing than she's letting on. We may all be looking at long term rent controls, continual erosion of property rights and the morphing of the bright line towards CGT if the commies get another shot at it.

It's funny, I was just thinking the other day that you can have a million dollars invested in shares in a company that makes nuclear bombs and nobody bats an eye, but you own two houses and it seems the whole country thinks you're some kind of monster.

[ermat]

Maybe.
I think that's only likely if the government continues the rent freeze for an extended period, like years.
I mean all the other landlord bashing they have done up until now has actually benefited some investors. I've done really well out of it because it's driven rents through the roof. I've made more in rent increases than it cost me in insulation etc.
It's boosted capital growth as well probably due to the unmitigated disaster that is kiwibuild and the utter failure to address any of the actual drivers behind the housing crisis. If all they do is more of the same when things return to normal I can't see too many investors bailing out because the returns keep getting better on account of afore mentioned incompetence.
All that being said, I have a feeling our little Karl Marx protege has designs on far greater control over the provision of rental housing than she's letting on. We may all be looking at long term rent controls, continual erosion of property rights and the morphing of the bright line towards CGT if the commies get another shot at it.

It's funny, I was just thinking the other day that you can have a million dollars invested in shares in a company that makes nuclear bombs and nobody bats an eye, but you own two houses and it seems the whole country thinks you're some kind of monster.

For a country built by hard working, get stuck in individuals who through their own Initiative have created some success for themselves through realestate or whatever else for that matter, it is hard to fathom how their efforts can now be viewed so negatively. When did capitalism become so wrong ?

[Frezzinghot]

Maybe.
I think that's only likely if the government continues the rent freeze for an extended period, like years.
I mean all the other landlord bashing they have done up until now has actually benefited some investors. I've done really well out of it because it's driven rents through the roof. I've made more in rent increases than it cost me in insulation etc.
It's boosted capital growth as well probably due to the unmitigated disaster that is kiwibuild and the utter failure to address any of the actual drivers behind the housing crisis. If all they do is more of the same when things return to normal I can't see too many investors bailing out because the returns keep getting better on account of afore mentioned incompetence.
All that being said, I have a feeling our little Karl Marx protege has designs on far greater control over the provision of rental housing than she's letting on. We may all be looking at long term rent controls, continual erosion of property rights and the morphing of the bright line towards CGT if the commies get another shot at it.

It's funny, I was just thinking the other day that you can have a million dollars invested in shares in a company that makes nuclear bombs and nobody bats an eye, but you own two houses and it seems the whole country thinks you're some kind of monster.

I really think this comes from the government, what is so wrong with mum and dad investors saving for their retirement, the government mistakenly sees this as greed and not a forced retirement fund. They want everyone the same unless you are uber rich in that case you are too smart for the commies.

[Frezzinghot]

Also when will the media start asking the hard questions of the government? Why are they spending thousands a week of our tax payers money on hotels for the beneficiaries, they have no bloody clues so why not leave us all alone. That always gets to me going, its seems the harder you work in this life the more you are being punished! Thanks to this evil dictatorship.

[ermat]

Hats of to Hosking on that one, I feel he is a little afraid to say what he truely thinks for fear of the consequences. The police state may lower his social credit rating !

[Frezzinghot]

Hats of to Hosking on that one, I feel he is a little afraid to say what he truely thinks for fear of the consequences. The police state may lower his social credit rating !

You are so right, was listening to him the other day and I think he is half intelligent! But he too has to watch his mouth, would love to have a beer with him to see what he really thought about this commie government, especially snow white.

[mrsaneperson]

Aha Keys play the man, not the ball. Anything away from that is not constructive.
I think you take it too personal when I've corrected some of your posts in the past. 😁.. Best be humble my friend.

The lawn and garden services are essential, and no personal contact with the contractor need occur. Thereby obeying the imposition of this crazy medical Marshall law that Cindy has imposed upon us.

I see the lockdown as adding to the death toll and being far worse than the virus itself with the destruction that results from the economy failing.

It would be just that little bit less hysterically insane if more reasonable interpretation were given to 'essential services'. I know the Mad Butcher isn't happy on the selective interpretation.
What can you expect from a Govt that calls itself inclusive and wants equality for all, but then in hippocracy gives Maori an additional $56million for the Covid-19.
💰😱

[artemis]

There will be a change of government one day. 2020 is looking increasingly unlikely. If there is not a new government this year a lot of changes - and not just to rentals - will be so firmly bedded in that they will be very hard to reverse.

New Zealand used to have No 8 wire.

[Learning]

I see the lockdown as adding to the death toll and being far worse than the virus itself with the destruction that results from the economy failing.

The cases we're seeing today became infected a week to 12 days ago. We have no idea how many people will test positive during the first 14 days of lockdown but you can guarentee it's going to be hundreds. Seeing the pictures of crowds at supermarkets and hardware stores after Cindy announced level 3 you could just imagine the virus having a party. The longer people are lax about this the longer it's going to drag on.

[Frezzinghot]

There will be a change of government one day. 2020 is looking increasingly unlikely. If there is not a new government this year a lot of changes - and not just to rentals - will be so firmly bedded in that they will be very hard to reverse.

New Zealand used to have No 8 wire.

We all may be forced to sell as it will all become too hard basket, better off just trying to become mortgage free, then again the Government may start coming after your own home as well.

[Jeffa]

You guys are looking at this situation all wrong..Im so excited about this beer virus!!..while you are all feeling sorry for yourself Im already in talks with vendors..im sneaking out of my prison to see an investment property next week!...$$$

[Jeffa]

The residence underground is alive and well!!