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@paekakboyz said in Housing hornets' nest:
@snowy lol too much rubbing and they'll catch fire!!
Unfortunate name for university group but in hindsight (appropriate, a lot of looking at asses went on) for most people that went there, it was to get a shag, not an education.
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@mariner4life said in Housing hornets' nest:
Is the retirement age still viable if every person now loves another 25 years? Who pays the bill for those people
I'm genuinely grateful to you all ....
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@voodoo said in Housing hornets' nest:
@mariner4life said in Housing hornets' nest:
@snowy said in Housing hornets' nest:
@dogmeat said in Housing hornets' nest:
they go holy fuck I could buy a house
So housing supply isn't the problem, it's people giving up smoking creating too much demand. We need to reduce tax on cigs. Encourage smoking. Shorter life expectancy, smaller population, less demand for housing. Who would have thought that the solution was right there?
it's a different thread (possibly the sustainable one) but i wonder how much thought is given to the problems we will face from extended life expectancy? Is the retirement age still viable if every person now loves another 25 years? Who pays the bill for those people when their super turns out to not be enough? How long will our kids live? What is the plan for the next generation?
I went to a Singularity summit a few years ago. The bloke who ran their bio-genetics piece was doing a lot of work with Google and other tech companies on life expectancy. He reckoned if you make it to 2050 aged c. 70yrs old and in good nick, there is a decent chance you'll live forever...
π¨π¨π¨
I've said before that I heard this on the BBC in about 1983. Expert on saying if you live to 2000 you'll live to be 100 and if you make 2050 you'll live forever.
The Beeb never lies so I started planning my 10,000 year retirement then.
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@dogmeat said in Housing hornets' nest:
@mariner4life said in Housing hornets' nest:
Is the retirement age still viable if every person now loves another 25 years? Who pays the bill for those people
I'm genuinely grateful to you all ....
And yet you still work. You really should have bought some properties. Some say there are tax free gains to be had.
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@dogmeat said in Housing hornets' nest:
I've said before that I heard this on the BBC in about 1983. Expert on saying if you live to 2000 you'll live to be 100 and if you make 2050 you'll live forever.
Yeah those sorts of comments have been around for a while.
I'm not even old, but another year seems a reasonable aspiration. I don't like to set high goals, and fail to achieve them. Staying alive, as the Bee Gees would say. I might have to make some lifestyle changes which I am reluctant to. See the wine thread.
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@snowy I did aspire to retire at 55 but I realised two important things. I wasn't ready to retire and working to earn enough to retire that early was going to kill me.
So in the immortal words of George Best I spent a lot of money on booze, drugs and women. The rest I wasted.
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@dogmeat said in Housing hornets' nest:
@snowy I did aspire to retire at 55 but I realised two important things. I wasn't ready to retire and working to earn enough to retire that early was going to kill me.
So in the immortal words of George Best I spent a lot of money on booze, drugs and women. The rest I wasted.
One of my favourite quotes.
I did aim for 45, just a couple years late, but it doesn't really happen. Busier now than I have ever been. I'm not sure that anyone actually retires. If you are a property investor you also have two houses to look after (or more, but you get taxed). Yes, I am being flippant.
When does the government start paying me these days, instead of me paying them? I doubt that I will make it unless the "scientists" are correct about life expectancy.
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I just got an interesting email from one of the peer to peer lending outfits about LVR. They couldn't attract lenders at 74.84 LVR first mortgage, so have upped the interest rate and kept a cash deposit for it.
That feels like a lack of confidence in the market from investors.
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I wonder if any banks have considered increasing their bank fees and lowering their interest rates for residential mortgages? I'm not sure if they could and it could end up being some sort of avoidance/evasion but may be an interesting exercise. I think Muslims don't have 'interest' on their loans.
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@toddy said in Housing hornets' nest:
I wonder if any banks have considered increasing their bank fees and lowering their interest rates for residential mortgages?
So we all pay for other people? Not sure many would like that. Bank fees are in my GOM file anyway.
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@snowy said in Housing hornets' nest:
@canefan said in Housing hornets' nest:
As far as capital gains taxes are concerned, as a home owner and small time investor, I have no major problem with such a tax. People who buy more and more houses are not producing anything of value to the economy, they don't manufacture, they don't provide services per se. And they serve to drive up property prices out of the reach of people who aren't yet in the market, making the supply discrepancy even worse.
People who buy more and more houses are classified as traders and are already taxed. It's all there earlier in the thread, with quotes from the IRD website. The same applies to people who do too many (in IRD eyes) share transactions. It is the same as any investment.
I would have thought that unless you are buying and selling that the argument that you are investing for rental income would be completely valid, i.e. buying more and more is not an issue - if you are flicking them for profit then you earn yourself the tax.
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@snowy said in Housing hornets' nest:
@reprobate said in Housing hornets' nest:
@snowy said in Housing hornets' nest:
Agree with the political whinge bit and obviously not fixing supply. I listen to it because I have to vote for one of them and prefer to know what I am voting for. So not a waste of time in my view. A lot (not you) don't seem to, they just vote for a party because they, or their family always have voted one way. It actually makes it quite difficult being informed because some policies from both sides I will agree with and others not.
https://www.interest.co.nz/charts/real-estate/median-rents-nz
Data is from Dept building and housing. Quite a spike there. Median, not average of course. Only goes back 4 years and having a bigger data set would be good, but does show that it is out of the norm for increases.
The data on that page goes back to 2002 if you move the slider below the graph (not on mobile). The big spike you're referring to is well before the government announcements so is not related to them - we may yet see one, but that's not it - if you slide to a shorter period you can see the months.
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@toddy said in Housing hornets' nest:
I wonder if any banks have considered increasing their bank fees and lowering their interest rates for residential mortgages? I'm not sure if they could and it could end up being some sort of avoidance/evasion but may be an interesting exercise. I think Muslims don't have 'interest' on their loans.
They wonβt consider it because itβs not possible. The CCCFA requires all fees to be reasonable. That means lenders can only charge what covers their costs with no profit. There was a 2019 court case brought by the Commerce Commission that reinforced this.
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Latest Economic Quarterly from Akl Council includes some analysis on zoning implications
It also references this report https://www.aucklandcouncil.govt.nz/about-auckland-council/business-in-auckland/Reports/does-the-rub-impose-a-price-premium-on-land-inside-it-20-Feb-2020.pdf
which determines that the Rural Urban Boundary is not raising land values within the boundary
Housing hornets' nest