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Thread ID: 86986	2008-02-03 20:21:00	Housing	Cicero (40)	PC World Chat

Post ID	Timestamp	Content	User
637214	2008-02-12 07:59:00	This will not happen the businessmen are too powerful and will oppose any attempt by the government to introduce cheap housing and thereby drop demand and prices of housing overall, anyway I think there is going to be a big International crash soon and this will all be academic anyway.	zqwerty (97)
637215	2008-02-12 08:38:00	This will not happen the businessmen are too powerful and will oppose any attempt by the government to introduce cheap housing and thereby drop demand and prices of housing overall, anyway I think there is going to be a big International crash soon and this will all be academic anyway. It's grim, but you are probably right. I think we are going to end up with a lot of home owners who are going to end up owing more than their house is worth, so when they need to sell their house to release some captial in the short term, they could end up being out of pocket.	robbyp (2751)
637216	2008-02-12 17:56:00	Crashes will come and go but overall housing prices will continue to grow indefinitely. 10 years ago housing prices in Sydney would have been what Auckland Prices are now. 10 years ago housing prices in London would have been what Sydney prices are now. Auckland prices used to be substantially higher than most of the rest of the country but places like Arrowtown, Queenstown, Wanaka, a lot of beach resorts around NZ have grown in prices and getting closer to Auckland prices. As far as affordable housing put into more expensive housing areas, Dannemora in Auckland had this done to it in a smaller block of about 500 houses about 7 years ago. Among about 500 houses there was a few back handers to council and around 30-40 state owned homes were built among the others. This was not disclosed to buyers who were buying into expensive homes next door to the state owned ones but soon became apparent when the extended families started moving on and the odd wreck on the front lawn started appearing. That particular block's house resale prices have since remained a good bit lower than the rest of Dannemora.	Bantu (52)
637217	2008-02-12 18:48:00	So actually there isn't any solution to any of the housing problems and no matter what anyone does things will just continue as per usual.	zqwerty (97)
637218	2008-02-13 00:10:00	Crashes will come and go but overall housing prices will continue to grow indefinitely. 10 years ago housing prices in Sydney would have been what Auckland Prices are now. 10 years ago housing prices in London would have been what Sydney prices are now. Auckland prices used to be substantially higher than most of the rest of the country but places like Arrowtown, Queenstown, Wanaka, a lot of beach resorts around NZ have grown in prices and getting closer to Auckland prices. As far as affordable housing put into more expensive housing areas, Dannemora in Auckland had this done to it in a smaller block of about 500 houses about 7 years ago. Among about 500 houses there was a few back handers to council and around 30-40 state owned homes were built among the others. This was not disclosed to buyers who were buying into expensive homes next door to the state owned ones but soon became apparent when the extended families started moving on and the odd wreck on the front lawn started appearing. That particular block's house resale prices have since remained a good bit lower than the rest of Dannemora. Over 100 years, house prices will raise on average in level with inflation. However over a 10 to 15 year span, they won't nessessarily rise. In the 70' and 80's house prices were quite static. In Japan for instance, house prices now are still lower than they were in 1990. Many people believe that NZs house prices now are greatly over valued, which means over the next 5-10 years, house prices may not actually rise much, in the short term they may drop. This isn't an issue if you are both buying and selling a house, as you are buying in selling in the same market, but it is an issue if you are releasing capital. The main reason house prices have risen sharply, is due to the cheap interest rates, and the easy accessibility of credit. However the subprime issues and other economic problems will mean that this will dry up. Already investor home owners are fleeing the NZ housing market, and I think the recent housing slowdown stats pretty much speak for themselves.	robbyp (2751)
637219	2008-02-13 10:53:00	For most housing, the major cost is the land, and incorporated in that land cost is all the local authority costs that are a significant component in the cost - It is a finite resource, particularly in desirable areas. Quoting the Danemora case above, it is unreasonable to expect a home buyer to invest his savings, and financial future in a home that may then be seriously devalued by having low cost housing built within the immediate neighbourhood. The trouble with this social engineering by governments, both local and national, is that it is the aspiring battler that ends up footing the bill. One only has to have a half close look at the state housing gettos of Otara, Clendon, Mangere, Glen Innes etc, to realise that the mindset of many of the residents of these areas, if transposed into budget housing in private owner housing developments, will be to the detriment of the private owners. Whether to rent or buy ones own home is a matter of personal choice, for many by default, as I frequently lecture my son, in that personal priorities such as smoking ($100/week), drinking ($50/week), playing the pokies, betting on horses, clubbing etc has a higher priority than saving for a deposit on a home. It is up to the individual to help themselves, if they don't want to work overtime etc, would rather piss their money down the toilet, burn it , or feeding it into a mini computer that is programmed for the punter to lose, then they should live with the consequences of their choices, not expect the tax payer, or battling private home owner subsidise them.	KenESmith (6287)
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