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12th February 2008, 16:21 | #41 | |
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On the one hand, it may help with lower income people wanting to get into the property market, but on the other hand I have the distinct feeling that this policy wil only help prop up house prices. |
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12th February 2008, 16:25 | #42 | |
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i say no to drugs. i just think its funny how some people like to condense things into either/or scenarios. housing is either inflated or undervalued the sharemarket is either crashing or booming etc the reality is that markets spend most of the time in a range...ie in equilibrium. and booms/crashes are just the exception to the rule.
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'[]' []-[] [] []\[] []< Last edited by Sp0nge : 12th February 2008 at 16:27. |
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12th February 2008, 17:26 | #43 | |
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Give non-responsible emotional/pressured buyers more money = push up the house prices with irresponsible impromptu sales. I would put money on it, people spend less time investigating/buying a house on average to the time spent into buying a car (I would award the pressure purchases to the fact car buyers don't have your contact details to hound you). |
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13th February 2008, 11:29 | #44 |
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This was tried in OZ from memory. failed because the government said it would give up to X%, people then just put their homes up around the same amount, unrelated topic.
http://www.nzherald.co.nz/metro/stor...ectid=10492147 |
13th February 2008, 11:44 | #45 | |
A mariachi ogre snorkel
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13th February 2008, 14:08 | #46 |
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is that just hairline type of cracks or goatse cracks?
even here in welly, if you look closely enough, most houses have plenty of hairline cracks somewhere.
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13th February 2008, 14:24 | #47 |
I have detailed files
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^^^ Life on the faultline?
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13th February 2008, 15:19 | #48 |
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REINZ figures out, from 36 average days to sell in Dec to 49 in Jan.
Houses definitely aren't selling as no one can afford them!!
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"This doesn't happen to me often, Honest!!" |
13th February 2008, 15:32 | #49 |
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yesterday we put in a tender for a house...
i've been looking at the market closely, and because of the negative media hype lately i thought we might be able to pick up a bargain. our tender was about 3% above valuation so i thought we had a reasonable chance got a call last night that the successful offer was about 10% above valuation. so like i said before, here in welly houses are taking longer to sell, but they are still selling and they are still rising in price.
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13th February 2008, 15:35 | #50 | |
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"This doesn't happen to me often, Honest!!" |
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13th February 2008, 15:49 | #51 |
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in this case it was GV, but it happens with RV, etc.
when it comes down to it, the only true valuation is the market value, i.e what people actually pay for it....and people are still paying inflated amounts... recent sales around that area were not as high, and imo we could build that place for a lot less than they paid for it... i think if they put the house on the market tomorrow, theyd struggle to get their money back (even if you ignored agent fees etc) i think many people are still with the mindset that housing is booming, and thats probably why maybe it still is.
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13th February 2008, 15:57 | #52 |
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Er...isn't 10% above the GV pretty crap? I thought it was common for a house to sell well above the GV.
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13th February 2008, 16:25 | #53 |
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If you got a house at only 10% above GV it would be a reasonably good deal, depending on how recent the GV was done.
Alot of houses in Auckland I have seen would be a good 30% above the GV and in the current market that is asking way too much.
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"This doesn't happen to me often, Honest!!" Last edited by LFC : 13th February 2008 at 16:26. |
13th February 2008, 16:50 | #54 |
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i agree that 30% above GV is way too much in the current environment..and those are the people that will notice first when the market changes....theyll be losing plenty.
when the market slows, prices will tend to move closer to GV. even 10% above GV may be paying too much. as this link says: "buyers have been quick to sense that the market is weakening and they are ready to take advantage of that situation". our offer was doing just that...looking for a cheap $700k bargain, lol but the market is not that weak yet here....so we shall try again in a few months ;-)
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13th February 2008, 20:27 | #55 |
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http://www.stuff.co.nz/4399693a10.html
awesome. Mr Snedden told Parliament's social services select committee he expected the 500 affordable homes planned for the 3000 home project, which has been billed as a model for such developments, to have a price-tag in the mid $300,000 range. Couples would need to be earning about $70,000 to service a mortgage on the homes, he said. Mortgage calculators show repayments on a 30-year 90 percent loan at a current two-year fixed interest rate of 9.35 percent would be $603 a week before rates and insurance. At a rate of 8 percent, repayments would be $533 a week. The joint income, after tax and ACC, of a couple each earning $35,000 is $1064 a week. National's housing spokesman Phil Heatley questioned how those homes could be termed "affordable".
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ɹǝʌo sᴉ ǝɯɐƃ ʎɥʇ |
13th February 2008, 21:12 | #56 | |
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Wonder what happened to add the extra costs. |
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13th February 2008, 22:27 | #57 |
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There isn't a housing slump and won't be for a long time.
Nearly everyone has a job and most earn enough to service a mortgage. + NZ has such a high percentage of property investors raking in those raising rents.. You really need to see the NZ economy tanking (not just high inflation), to have any effect on the housing market. |
13th February 2008, 22:35 | #58 | |
A mariachi ogre snorkel
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13th February 2008, 22:46 | #59 |
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The baby boomers definitely had the easy life e.g. they had the best years of both the property and the stock market.
Anyone here one? |
13th February 2008, 23:48 | #60 |
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Helen's got a plan
http://tvnz.co.nz/view/page/536641/1581274 edit: yeah its already been announced by someone above me |
13th February 2008, 23:51 | #61 |
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And meanwhile... I wait.
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If ignorance is bliss, why is everyone so unhappy these days? |
13th February 2008, 23:56 | #62 |
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and meanwhile... i save!
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14th February 2008, 01:31 | #63 | |
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State approved agency. Wonder if they will New Zealand owned? |
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14th February 2008, 09:38 | #64 | |
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14th February 2008, 10:04 | #65 |
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Looking at international trends is quite interesting:
Affordability calculator for Aust, Canada, USA http://www.fcpp.org/main/citycal.php?country=3 and the Affordability Survey (the full survey which the Herald used in one of their articles).. http://www.demographia.com/dhi-ix2005q3.pdf |
14th February 2008, 12:09 | #66 | |
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Rateable or GV is $510k and they are asking for $719k, thats over 40% more than the GV. http://www.trademe.co.nz/Trade-Me-Pr...htm?key=188325
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"This doesn't happen to me often, Honest!!" |
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12th April 2021, 13:15 | #67 |
A mariachi ogre snorkel
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meanwhile in 2021
Narrators voice: it wasn’t
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12th April 2021, 13:16 | #68 |
A mariachi ogre snorkel
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13th April 2021, 10:12 | #69 |
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My only regret about moving to aus is that I couldn't convince my family to do it 10 years earlier. NZ is a joke now
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13th April 2021, 12:44 | #70 | |
I have detailed files
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22nd April 2021, 12:16 | #71 | |
Laserman
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Things worked out.
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Are you slow? The alleged lie that you might have heard, me saying, allagedly moments ago... That's a parasite that lives in my neck. |
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