Changing trends in NZ home ownership

19/05/2012 7:12:40 p.m.

Peter wrote:

You can see clearly which side most contributers come from - i.e. work hard you can still afford to purchase property (and help keep my investment safe). Or the reality - it's too late for first time buyers to get on this cash cow mainly being enjoyed by the baby boomers. Me and my partner could move from Auckland to a provincial centre to purchase an affordable home, but we would have no job opportunities in the fields we are trained. Why do you think so many qualified professionals leave for overseas? It's simply greed of what is a property owner elite causing this, and it will have a use by date. We need a speculation tax and a tightening on non-resident foreign ownership of private land.

18/05/2012 1:26:24 p.m.

Richard wrote:

Capital Gains tax will drive higher rents and higher house prices. Labour and its anti-rich non-thinkers need to take a moment, get off their high horse and ask themselves a simple question: when has a tax increase not been passed on to buyers or renters of any commodity?

18/05/2012 1:12:47 a.m.

John White wrote:

Hi Delyse, I hope you and your family are making progress. I think you made the right move to Oz. NZ being honest is a dying country and I try to say that in the nicest possible way. Oz is a young country with good prospects- plus literal gold will be in huge demand in the coming decades as all fiat currencies reach their nominal value of absolute zero. It's sad that you had to experience so much heart ache leaving NZ- I love NZ it broke my heart to leave the country and I would happily return with my family from the USA but the truth is NZ has a bleak future. Like in the USA and NZ and AUS incomes are not rising with the cost of living- why? Central banking. Being honest the whole world will now what a real depression is in the coming years as the whole ponzi scheme that is central banking comes undone. For example as I type this there are already bank runs occurring in Greece and Spain. Spain btw has a 50%+ unemployment rate for youth aged 16-25. What kind of future do those kids now have? Make no mistake the coming decade is going to be very rough.

17/05/2012 9:28:46 a.m.

Delyse Brooks wrote:

Hi John, Its blimin sad this is happening My husband and I have three small ones. We own a home in Whanganui and have had it on the market on and off for three years now. Its been harrowing. We lost a child and wanted to move on, so after two years of no sale, I finally packed my children up and moved to the land of gold. OZ.. This has been a financially hard move. Paying off debt at home and paying for a life here. Funnliy enough hubby and I are more focused and have now set our futures in place. Unfortunately we are still uable to sell our home. We are virtually giving it away. NOBODY has the funds anymore. What the hell is a family to do?? I know of other famliie who have had to do the same. Moved over here to do better, but still have those ties to home. Each year you get told, it's picking up, slowly but surely..WHERE? Now the dumb bnks are going to make it harder. Come on NZ, youre just putting your own down the gurgler. Setting kiwis up to fail. No good.

15/05/2012 11:20:49 p.m.

John White wrote:

Ex-pat kiwi living in USA. NZ is nothing more than a play ground for rich overseas investors. You have not even seen rich in NZ... believe me. Like any western economy with a fractional reserve banking system, the system is in place with only one objective. To kill the middle class. Not the fabled keep inflation under 3% challenge- if you do your math properly inflation is always underplayed. I challenge John Campbell to do a report on the Reserve Bank and why it is that the NZ dollar has lost so much of its purchasing power and why there is huge income disparity in NZ. Any reserve bank chairman would ask for the camera to stop rolling if asked those questions. In the USA over 45.5 million people are on food stamps. The culprit? Central banking a Karl Marx idea btw. High housing costs, income disparity, high unemployment, low interest rates (interest btw is a mathematical impossibility in a fractional reserve system since only the principal amount of the loan exists in the money supply hence why bankruptcy and foreclosure is a certainty at some point. That is to say- where does the money come from to pay the interest if only the principal amount is available in the money supply to pay the debt). All of these are symptoms of central banking. People stop looking at the symptoms and start looking at the cause.

15/05/2012 3:58:01 p.m.

TRISHA wrote:

Reiterate - there IS a capital gains tax already, for those whose business it is to buy and sell property for a profit. "Hear hear" about the luxuries and high expectations. Some people need to learn how hard it really was for our parents, for whom take-aways were a once-a-year luxury, who owned one phone, one car, had vege gardens and no credit card debt!

15/05/2012 12:10:34 p.m.

vicki wrote:

Reality is more and more young people aren't buying first homes because they can't afford them - so don't these statistics fly in the face of the argument by some that we are a 'greedy generation expecting hand outs' the only ones getting a hand out are the landlords and property investors. Why don't those investors put money in places that will help grow our economy and job deficit rather than investing in property and taking housing off those who need it. In the future this tax will be put in place, NZ is just behind in the OECD on this, we will catch up, as with many other legislative loop holes in this country. If I was one of these fictitious 'mum and dad' which are actually 'grandma and granddads' who own investment property I would sell up quick as the tax is coming, like it or not.

15/05/2012 10:23:03 a.m.

Hardy wrote:

Houses are clearly far to expensive in NZ compared of what you get for your hard earned money. It has become a playground for rich gamblers, unreachable for 1st home buyers and workers. Capital Tax would cool this down, and 'normal' income earners (the backbone of any country!)wouldn't need to look 'elsewere' to start a life. A very good story.

15/05/2012 9:33:13 a.m.

TRISHA wrote:

The tall poppy syndrome strikes again. The trend for the big OE means that many people spend huge amounts of time travelling overseas and living it up large. When they return, they then complain about not being able to afford a home! This is a symptom of a greedy generation who expects things handed to them on a plate. Instead of accepting that they have saved for, and spend thousands of dollars travelling,buying flash cars and the latest phones, they point the finger. And who easier to blame than landlords! Just accept that landlords work hard to acquire, renovate and then maintain their properties. PS: There already IS a capital gains tax for those who buy and sell houses with the primary intent of making a profit (just like there is for people who trade in cars, horses etc). Please get the facts straight on this.

15/05/2012 8:39:41 a.m.

eddiewano wrote:

The message is clear as a bell. Don't work hard and save, get into the business of speculation.

If you don't earn 6 figures or speculate on borrowed money you have no hope of owning your own home in NZ.

But in Aussie it's a different story. They look after their workers. Is that why our workforce is shrinking?