Random Politics

[Lightspeed]

Putin's NYT article:
http://www.nytimes.com/2013/09/12/op....html?hp&_r=1&

[Nothing]

Originally Posted by Lightspeed

I'm wondering for the majority of people what's so bad about a general drop in house prices?

I don't own any houses, or have a mortgage, so I'm not completely sure, but I think that it's a bad thing if you have a mortgage and owe the bank a whole lot of money and the value of the asset on which you owe them money takes a big dive. It shits all over your equity, whatever that is.

[Lightspeed]

Well I don't really fucking know, but I just can't see how housing prices going up and up is a good thing. The RBNZ seems to think it's a problem.

[Lightspeed]

UN receives Syria chemical treaty papers

[aR Que]

I'm wondering for the majority of people what's so bad about a general drop in house prices?

We spend all our time and money on maintaining and restoring a house.
We don't do this because we like the stress and the work, we do it to better our lot, whether it's through monetary gain or improved living conditions. Dropping the price of that asset, would knock us back years and in truth, decades.

Owning a home isn't a walk in the park. It ain't fancy free and it certainly isn't some free ride... atleast not at my lower echelon, which is who your proposal will really hurt.

We don't have opprortunities, we create them.


PS. if you have a mediocre interest in what the fuck you're talking about, create a spreadsheet working out repayements vs. interest on a 200g loan. Remember, compounding daily.

[xor]

Originally Posted by Lightspeed

Well I don't really fucking know, but I just can't see how housing prices going up and up is a good thing. The RBNZ seems to think it's a problem.

The house price increases are mainly limited to the Auckland/Canterbury region. I don't think the rest of the country is experiencing the same sort of price/land issues that Auckland is. It's a supply issue.

I would be keen to buy an apartment but i'm a bit hesitant with body corporates and have heard of many people getting burnt with changes to their annual charges.

Also, you can still buy a reasonably good home in the likes of Otahuhu/Papakura/Mangere/Glen Eden/Massey for under 400k. It's not an unreasonable sum for a working couple, about the same as renting a 2 bedroom house.

[pxpx]

LS the problem has never been current house prices, it's house prices today in relation to what they were yesterday. House/land prices will always increase as long as population increases (don't go suggesting we all stop having children because then you'll confirm without a doubt what everyone already thinks)

This means the solution isn't to make houses cheaper, it's to stop them from increasing so fast. Wiping value off houses is such a terrible idea, the result will be the financial crippling of those people who are just starting to build good equity in their houses, and in a few years time we'll be back to where we are today, because nothing would be done about the rate of increase.

[chubby]

Originally Posted by pxpx

because nothing would be done about the rate of increase.

duh.
hence a CGT.
you do realize its not some kind of arbitrary 'lowering of value' by the government that you d-bags are squealing about-its a tax on income realized.
the pattern of the vote shown is really all we need to know.
a minority of invested cunts cry about the sky falling..and the 'kiwi battlers' keep battling .

[pxpx]

Originally Posted by chubby

duh.
hence a CGT.
you do realize its not some kind of arbitrary 'lowering of value' by the government that you d-bags are squealing about-its a tax on income realized.
the pattern of the vote shown is really all we need to know.
a minority of invested cunts cry about the sky falling..and the 'kiwi battlers' keep battling .

We're talking about Metiria Turei and her policy-that's-not-a-policy about wiping away value from home owners, not CGT.

But fair enough point, my comment was a little narrow in context :P

[chubby]

you clearly feel picked on.
but the fact is,incentivising a multiple ownership,quick buck housing market has locked the vast majority of wannabe homeowners (hint..think our kids) out-unfairly id say.
at some point eggs need to be broken.
if not now,when?

[Diirk]

Originally Posted by Lightspeed

I'm not sure what anyone's on about xor.

I'm wondering for the majority of people what's so bad about a general drop in house prices?

Ideally nothing, the problem is its very common for people to take large mortgages so they can buy their expensive house. If the value of the house drops, the amount of your mortgage doesn't drop so you are suddenly quite a bit worse off financially than you used to be. It doesn't necessarily matter that the next house you plan to buy is cheaper or not, either.

For example, you bought a $400k house with a $100k mortgage.. House prices are slashed so your house value drops to $300k. Meanwhile you still have a $300k mortgage, so when you sell up for a better house you now have a $0 deposit, you've lost all your money.

The numbers will change a bit based on the specific situation, but a drop in house prices would affect everyone, not just a minority.

[aR Que]

No, no its not just big mortgages on expensive homes. Reduction in equity, is reduction of equity, whether that equity is 100,000 or 1mil. I'm sure GT doesn't care about a 20g loss, but i sure as shit do.

[Golden Teapot]

I have no problem with a capital gains tax so long as:
1. It applies to everything including a primary residence, and;
2. The rate is set at the top tax rate, and;
3. The top tax rate is lowered so that the tax take remains the same.

[chubby]

Originally Posted by Golden Teapot

3. The top tax rate is lowered so that the tax take remains the same.

chortle.
yes.the tax take remains the same

[chubby]

that a bailout should be rejected because it would "would result in a significant transfer of value from New Zealanders to [owners] PA [Pacific Aluminium] and Rio Tinto shareholders".

[Lightspeed]

Originally Posted by Diirk

For example, you bought a $400k house with a $100k mortgage.. House prices are slashed so your house value drops to $300k. Meanwhile you still have a $300k mortgage, so when you sell up for a better house you now have a $0 deposit, you've lost all your money.

That makes sense to me. What I wonder is how many people would actually be in such a position, without being able to avoid it? And would this be outweighed by the overall benefit to society at large, assuming there are any benefits at all.

What about a flattening out of the market, house prices stagnating rather than dropping? Home value/mortgage maintain parity, you just don't get that 30% gainz f_t was talking about.

Anyways, probably no real answers to these questions, just the kinds of things I wonder.

[chubby]

charter schools look like getting funny again.

[Spoon1]

Originally Posted by chubby

charter schools look like getting funny again.

Great link - insightful.

[chubby]

i dont think my links are much in demand.
but if you're interested,it'll be in the media in some way,im sure.

[chubby]

pretty keen to see how the brethren spend my tax dollars in their schools.

[chubby]

Aaand...its official.hooten is a shrill d-bag.

[Ab]

context pls

[StN]

Is this the bit where Hooten called Cunliffe a liar for claiming he was instrumental in forming Fonterra, and Cunliffe then produced copies of the jobsheets for the firm he was with backing it up? Or something about claims about a degree from Harvard?

[Ab]

I thought Cunliffe had been busted for lying on his CV?

[adonis]

Originally Posted by Ab

I thought Cunliffe had been busted for lying on his CV?

http://www.3news.co.nz/Cunliffe-reto...9/Default.aspx

TLDR version - Hooton is full of shit (as if that wasn't obvious already)

[CCS]

Oh, Cunliffe said Hooton is wrong? Well I guess that's sorted then.

[Ab]

So Cunliffe worked for fonterra in 1997 eh?

[fixed_truth]

Mr Cunliffe later made public a heavily-redacted billing sheet from 1995 to 1999, which shows he worked on "industry structure" for the NZ Dairy Board for 234.5 hours in late 1997, before hundreds more hours on projects named "New Zealand Dairy", "NZDB/Organisation Project" and "NZDB/Cent-Market" throughout 1998.

In January 1999, he spent eight hours working on a "NZDB/Industry Structure" project for NZ Dairy Board.

On Thursday morning, Radio New Zealand aired an apology for the "character reference" Mr Hooton had given Mr Cunliffe.

RNZ apologises over Cunliffe 'liar' claim

[aR Que]

I bet you can guess which part was edited out, eh.

[chubby]

http://www.youtube.com/watch?v=K7gzBoVh1rI

grownup political concerns.

[Lightspeed]

Ole Len you cheeky bugger.
http://www.nzherald.co.nz/nz/news/ar...ectid=11140517

Right after the elections too...

[leadinjector]

Gotta give him credit, not bad for such an ugly awkward old cunt.

[CCS]

WhaleOil has the affidavit from her. Funny reading.

[leadinjector]

2 minutes in heaven is better than one minute in heaven, baby.

[Redneck]

Holy lol I went to school with that chick

[fixed_truth]

Not a big fan of Brown but what a bunch of lol. The guy had an affair. whoop dee doo.

[spigalau]

Originally Posted by fixed_truth

Not a big fan of Brown but what a bunch of lol. The guy had an affair. whoop dee doo.

The guy was fucking a council related employee and having a mastie on your dime on repeat occasions, he's not the mayor of auckland material.

[StN]

50 shades of Brown.

[xor]

Originally Posted by nzherald

Ms Chuang spoke to the Herald last year about seeking a sperm donor to help her make a 'dragon baby'. She said at the time she was desperate to have a "dragon baby" - and determined not to let the fact that she didn't have a partner hinder her plans.

The rule is: "Never stick your dick in crazy!"

[CCS]

Originally Posted by fixed_truth

Not a big fan of Brown but what a bunch of lol. The guy had an affair. whoop dee doo.

If John Key was having an affair, you'd never shut up about it.