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Thread: Property in NZ

  1. #41
    tweakedgeek tweak'e's Avatar
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    Default Re: Property in NZ

    Quote Originally Posted by B.M. View Post
    The answer to the problem is very simple.

    Introduce a Capital Gains Tax, like our cousins across the ditch, and watch the problem disappear.
    Quote Originally Posted by 1101 View Post
    Im all for a CGTax on 2nd homes or houses you dont live in, as the ONLY reason they are bought is to make a profit .
    I dont think CGTax will solve any issues though . If you can make $100K++ in a year , a tax wont put you off .

    In theory selling of investment houses was allways taxable , the IRD just dont often tax it as income/profit .
    i don't think that goes far enough.
    CGT is only one measure that needs to happen, but it needs to go on ALL houses. that simply because everyone "invests in their house" to make money. thats probably a bigger factor than landlords.
    but also other measures need to happen, like not allowing councils to pile on tons of fees on new housing. no one should be making money off houses including councils. they need to find another way of financing.

    kiwis really need to start treating houses as a cost rather than an asset. a big culture change is required. build homes to suit people not build them to suit the next buyer.
    Tweak it till it breaks

  2. #42
    Wrinkly Member! B.M.'s Avatar
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    Default Re: Property in NZ

    Quote Originally Posted by tweak'e View Post
    i don't think that goes far enough.
    Nor do I, so the "Resource Management Act" goes too.

    It's only being used as a weapon for Council's and the like to "Empire Build" and for others to halt progress.

    None of which was its intention, so out it goes.
    Global Warming is Mann made.
    .
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    The government cannot give to anybody anything that the government does not first take from somebody else.

  3. #43
    Junior Member ClarissaBull's Avatar
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    Default Re: Property in NZ

    my thoughts go to the fact that a house is an investment in the first place - and you need to invest in something that will bring you income. That is why I invest in houses in Miami - good weather - ocean, it will always bring income - especially during the tourist seasons

  4. #44
    Senior Member piroska's Avatar
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    Default Re: Property in NZ

    Quote Originally Posted by ClarissaBull View Post
    my thoughts go to the fact that a house is an investment in the first place
    That's the thing...it's not. IT's a home. But we're being taught to think of it as an invetsment, hence the flipping, developers and slumlords and the entire madness.
    Ex-pctek

  5. #45
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    Default Re: Property in NZ

    *2

    It's the same thing with shares and in the olden days the company would issue bonus shares as an appreciation of investing in the new company in the first place.

    Who would invest in Florida with it's tornados' !!.

    lurking.

  6. #46
    tweakedgeek tweak'e's Avatar
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    Default Re: Property in NZ

    Quote Originally Posted by piroska View Post
    That's the thing...it's not. IT's a home. But we're being taught to think of it as an investment, hence the flipping, developers and slumlords and the entire madness.
    +1
    thats it in a nutshell.
    the problem is people investing in homes to make money which is an unsustainable practise.
    Tweak it till it breaks

  7. #47
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    Default Re: Property in NZ

    I heard that we can put a single barn there, good and has higher potential for business

  8. #48
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    Default Re: Property in NZ

    Quote Originally Posted by tweak'e View Post
    +1
    thats it in a nutshell.
    the problem is people investing in homes to make money which is an unsustainable practise.
    As Bill English put it, "as a nation, we don't get rich buying and selling second-hand houses among ourselves"

    For starters, the Reserve Bank should ban mortgages for "investors"

    Do they have that power?

  9. #49
    tweakedgeek tweak'e's Avatar
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    Default Re: Property in NZ

    Quote Originally Posted by decibel View Post
    As Bill English put it, "as a nation, we don't get rich buying and selling second-hand houses among ourselves"

    For starters, the Reserve Bank should ban mortgages for "investors"

    Do they have that power?
    i'll argue that some people get rich selling selling second-hand houses among ourselves. however the country certainly doesn't and neither do the people who have to buy them to be able to live.
    Tweak it till it breaks

  10. #50
    Senior Member piroska's Avatar
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    Default Re: Property in NZ

    Quote Originally Posted by tweak'e View Post
    i'll argue that some people get rich selling selling second-hand houses among ourselves.
    He said "as a nation" not as an individual.
    Ex-pctek

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