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| Thread ID: 139867 | 2015-07-13 06:54:00 | Auckland Property Insider | bk T (215) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1404806 | 2015-07-13 06:54:00 | Story HERE (www.nzherald.co.nz) Quote: "We're becoming tenants in our own country..." Isn't it time for the Govt to do something about it? |
bk T (215) | ||
| 1404807 | 2015-07-13 07:29:00 | No one from a nation where we can't purchase property should be able to buy in NZ. Anyone from overseas should have to live here for several years before being able to buy an existing house, or must build a new one. Nothing racist in this, it would apply to all foreigners. This Auckland bubble presents a major risk to our economy. Yet our so-called money-savvy gummint does nothing. Raises suspicion of corruption or at least unbelievable stupidity. But of course they are all right, Jack. |
KarameaDave (15222) | ||
| 1404808 | 2015-07-13 08:17:00 | PT of BT says there is no way to tell of Asian Citizenship. Of course there is, has to be a way - and he should advocate a way of finding how, but of course he, and perhaps others, won't intiate it. Too much to lose...including for generational NZ's - those and their forbearers that contributed long term to our country. But... I recall when plenty of Englanders swooped into new subdivisions in Highland Park - Lower Howick around 1970 - 75, where I lived. Nothing was said or done, except for moans from local Kiwi's about their neighbours UK accents that started to dominate the local schools, pubs, and workplace. |
kahawai chaser (3545) | ||
| 1404809 | 2015-07-13 08:46:00 | Story HERE (www.nzherald.co.nz) Quote: "We're becoming tenants in our own country..." Isn't it time for the Govt to do something about it? Anything they do will turn out badly. History tells us that, "To hell in a handbasket" is their slogan, via cycleways of course. |
R2x1 (4628) | ||
| 1404810 | 2015-07-13 09:35:00 | The property bubble is a double edged thing. Certainly people will be hurting when the prices correct. However, for every foreigner paying a crazy price for an Auckland house there is a (likely) Kiwi seller who is pocketing a big lump of that foreigners cash. So once the prices correct, we may see a bunch of foreigners trying to sell up and bail out (at a loss). Meanwhile the kiwis who pocketed the money from these crazy prices will be well set up. So while there's winners and loosers, as long as foreigners are pushing the bubble, it will also be foreigners who feel the pain later on, and if they're non residents or multi millionaires already, then it's potentially a good theing that they've had a financial haircut. It's almost like another export market, which is earning NZ money from offshore. Just change the rules sometime later regarding overseas ownership, or ownership of multiple residences, and we can make a killing off these greedy buggers. As for kiwis buying up in Auckland - I'd say its crazy, unless their careers dictate they must live in the middle of this mess. They should look for work elsewhere, sell up, and move away. Buy cheaper and pocket the difference. If a decent home can be $700,000 cheaper elsewhere, then why, why would anyone ever want to service the debt on that Auckland home when they can instead have $700,000 invested and returning an income for them instead? |
Paul.Cov (425) | ||
| 1404811 | 2015-07-13 09:45:00 | I have my doubts that these lot of 'Foreigners' are genuine, decent investors. The term 'Money Laundering' fits in here, I afraid. |
bk T (215) | ||
| 1404812 | 2015-07-13 11:15:00 | No one from a nation where we can't purchase property should be able to buy in NZ. +1 |
Nick G (16709) | ||
| 1404813 | 2015-07-13 19:45:00 | The property bubble is a double edged thing. Certainly people will be hurting when the prices correct. However, for every foreigner paying a crazy price for an Auckland house there is a (likely) Kiwi seller who is pocketing a big lump of that foreigners cash. So once the prices correct, we may see a bunch of foreigners trying to sell up and bail out (at a loss). Meanwhile the kiwis who pocketed the money from these crazy prices will be well set up. So while there's winners and loosers, as long as foreigners are pushing the bubble, it will also be foreigners who feel the pain later on, and if they're non residents or multi millionaires already, then it's potentially a good theing that they've had a financial haircut. It's almost like another export market, which is earning NZ money from offshore. Just change the rules sometime later regarding overseas ownership, or ownership of multiple residences, and we can make a killing off these greedy buggers. As for kiwis buying up in Auckland - I'd say its crazy, unless their careers dictate they must live in the middle of this mess. They should look for work elsewhere, sell up, and move away. Buy cheaper and pocket the difference. If a decent home can be $700,000 cheaper elsewhere, then why, why would anyone ever want to service the debt on that Auckland home when they can instead have $700,000 invested and returning an income for them instead? I doubt it once the money has been frittered on new TV's, cars, Ipads etc they won't have enough left to buy back in even if prices do crash. Not many people have savings anymore. |
gary67 (56) | ||
| 1404814 | 2015-07-13 20:05:00 | True. Most of the people I know renting have property managers on behalf of overseas asian owners. The one we rented briefly was the same. At a friends on Sunday....which is rather a crappy rental hovel, and next door had just gone to auction: $1,056,000. Asian buyer. 12 Castaing Ave, Te Atatu, if you want to look it up. Why? It had a section 1310sqm, auctioneer said after, you have done your homework, just shift the house back and...... |
pctek (84) | ||
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