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Thread: House Prices

  1. #21
    Computer "Specialist" Agent_24's Avatar
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    Default Re: House Prices

    Quote Originally Posted by Roscoe View Post
    Where do you get money like that from?
    You don't, that's the problem. You ain't paying 15 years wages now, you're paying 15 bloody lifetimes!
    Non-system disk or disk error. Replace and strike any key when ready.

  2. #22
    Senior Member piroska's Avatar
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    Default Re: House Prices

    Quote Originally Posted by Roscoe View Post
    Our house is valued at over one million. Where do you get money like that from?
    Our first house cost $23,500. Mortgage was $30 a week. We had no spare money, we had a single bed, a cardboard box to put the B&W TV on. no fridge and no washing machine.

    Houses cost $1m now, but son, don't know what he earns now, but 3 years ago his taxable was $107,000.
    OK, with overtime but still.

    It is all relative. The issue is the deposit.
    He didn't need one, luckily.
    Ex-pctek

  3. #23
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    Default Re: House Prices

    Ahhh ... the good old days .... remember them so well !!! Never earned over $100k / yr in my life and would be embarrassed to say what the maximum I ever earnt per annum on this site !!

    Drug money ??? ... but a decent bit of weed back in my day was going for about $20 /oz ... good **** ?!?! ... NO !! LOL

  4. #24
    tweakedgeek tweak'e's Avatar
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    Default Re: House Prices

    Quote Originally Posted by piroska View Post
    Our first house cost $23,500. Mortgage was $30 a week. We had no spare money, we had a single bed, a cardboard box to put the B&W TV on. no fridge and no washing machine.

    Houses cost $1m now, but son, don't know what he earns now, but 3 years ago his taxable was $107,000.
    OK, with overtime but still.

    It is all relative. The issue is the deposit.
    He didn't need one, luckily.
    sorry but no.
    one issue is that house prices have risen far greater than income. i would have to go find it but its something like houses are now double or triple the amount it used to be compared to incomes.
    mortgages are a lot longer and realistically a lot will never pay them off, which will cause big issues later in life.

    nz needs a massive shake up and a change of culture to housing. otherwise this cycle is doomed to repeat itself.
    Tweak it till it breaks

  5. #25
    Senior Member piroska's Avatar
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    Default Re: House Prices

    Quote Originally Posted by SP8s View Post

    Drug money ??? ... but a decent bit of weed back in my day was going for about $20 /oz ... good **** ?!?! ... NO !! LOL
    An ounce? I have no idea what it is now but I know an ounce of plant material is a hell of an amount...
    Anyway never knew any rich drug people, but pretty sure weed wasn't what the ones in new did.
    ANyway you lose a house nowdays, not get one
    Ex-pctek

  6. #26
    Its ok I am from Motueka. prefect's Avatar
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    Default Re: House Prices

    As long as you allow hordes of immigrants mainly from Communist China and India along with thousands of "refugees" there will be a housing supply problem. Both Maoris and us NZ ex Anglo citizens have now lost our birthright how sad. It was good while it lasted I had my first house before I was 30 and that was with massive drinking expenses/rooting/motorcycling /cars and partying. It got a bit rocky when the Communist Labour party upped interest rates But as inflation was rampant wages went up.
    Its amazing how Potatoes give us chips,fries and Vodka.

    Get your s*** together every other vegetable.

  7. #27
    tweakedgeek tweak'e's Avatar
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    Default Re: House Prices

    immigration is only a small part of it. prices didn't go down when more kiwis where leaving than people coming in.

    the base cause is simply its a major earner for kiwis to buy/sell the family home. "invest in your home".
    all that profit is paid by future home owners.
    its all been tax free.
    the ability to play the market these days is anti-competitive. you have anti competition laws for businesses but not mum/dad selling the home.
    one of the few assets where sitting and waiting, and knowing everyone else is sitting and waiting, restricts supply and creates more profit.
    there is simply to much money to be made and with future people are paying who cares.
    we are a tiny country that sells twice the number of homes per person than say the usa, and moves very often but not very far.

    and heaven help any govt trying to fix it. home owners will boot them out of office if anyone touches their golden goose.

    it doesn't matter what interest rates etc do, people will simply sit tight, restrict supply and bump prices up.
    Tweak it till it breaks

  8. #28
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    Default Re: House Prices

    This is just another example of how well the Government is at fixing things. (No I mean all parties not just the current lot.)
    The majority of costs are caused by the refusal to allow the release of land to build on and the over the top regulations imposed in the whole process.
    One small example. I paid about a $1k to have my tile roof cleaned up and painted several years ago to redo that today would incur the additional costs of having to pay for scaffolding to be installed and then removed as is now required by regulations for another 3 - 5 $K on top charge for what is actually a small job.

  9. #29
    Senior Member piroska's Avatar
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    Default Re: House Prices

    Quote Originally Posted by tweak'e View Post
    prices didn't go down when more kiwis where leaving than people coming in.

    the base cause is simply its a major earner for kiwis to buy/sell the family home. "invest in your home".
    And the removal of all the HNZ houses.
    So many got sold in Huntly a few years back, friend of friend bought heaps of them. And rented them out privately. Then when prices started to climb madly, he sold a lot.

    Here in our suburb, theres a huge strip of land...empty, HNZ houses used to be on it.
    Demolished and not replaced. Recently a big fuss was made, Labour building more they said....we watched....they took one of the smallest bits of land and put 9 terrace houses on it.
    And stopped.
    What happened to the 30 or so they removed?
    Ex-pctek

  10. #30
    Retired old codger kenj's Avatar
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    Default Re: House Prices

    They were all 2 story units. Earthquakes were the excuse for getting rid of them from memory. That alone was crazy as they were well built weatherboard units. Had a lot of bad Tennant's as well. Always broken and boarded up windows. Some of them were sliced in two and made into single story houses.

    Ken

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