Are property investors the scourge of the earth?

[sidecar bob]

As much as renters need improved tenure and better living standards......

https://www.nzherald.co.nz/business/...ectid=12132076

Crunching the numbers in Auckland I can't see how you can rent a $1 000 000 house for $600 a week.

40% deposit is 400K ( if you need to have one).

600K at 4.5 % is 27K ($519.00 PW)

then you have insurances, rates, maintenance and so on.

Add the cost of heatpumps and insulation on top of that.

And now pets.

Bloody greedy landlords....

No no, Auckland landlords are supposed to be cashed up former Waikato dairy farmers that want a small safe return on the millions they got for the farm.
If you only have 400k, best to buy four 200k houses in wanganui with a 400k mortgage & get a better overall result with relatively low risk.
You guys probably aren't aware, but if you just keep driving when you get to Manakau the road keeps going & they have whole towns & houses for sale & all sorts of cool stuff.

[Voltaire]

No no, Auckland landlords are supposed to be cashed up former Waikato dairy farmers that want a small safe return on the millions they got for the farm.
If you only have 400k, best to buy four 200k houses in wanganui with a 400k mortgage & get a better overall result with relatively low risk.
You guys probably aren't aware, but if you just keep driving when you get to Manakau the road keeps going & they have whole towns & houses for sale & all sorts of cool stuff.

I had a drive around Whanganui a few weeks ago, some good buys there and a great Japanese restaurant and craft beer bar on Ingestre St.

https://www.trademe.co.nz/property/r...ecdb23524b94a9
$195K

[sidecar bob]

I had a drive around Whanganui a few weeks ago, some good buys there and a great Japanese restaurant and craft beer bar on Ingestre St.

]

You are aware we will look back on craft beers the same way as we look at mullets & brick phones now.

[Laava]

You are aware we will look back on craft beers the same way as we look at mullets & brick phones now.

Lol. i guffawed into my triple shot soy latte!

[Voltaire]

You are aware we will look back on craft beers the same way as we look at mullets & brick phones now.

Craft Beer has been around for ages, the Europeans just call it beer.
When touring around Europe for 4 months in the Summer of '89 tried lots from Belgian Sour/cherry beers,German Weiss Biers, French crap like 1664/33 that used to get on day trips to Calais and Dunkirk, Czech Pilseners, Engish ales and Irish Porters ( other than Guinness).

I was only here for 4 years of my 20's so 'missed' a lot of the local 80's/90's, once I got my Trade Cert I was off.

[WALRUS]

We've got a bit of a housing crisis over here. An increasing number of homeless people and most of that is attributed to investors buying up properties and spiking the market and fucking AirBNB. The number of properties which have been rentals for years and years and years who are turfing out their tenants so that they can just use their house as an AirBNB is crazy! Similarly, the number of properties being bought specifically to turn them into AirBNB's instead of renting or being bought by locals to live in is stupidly high as well.

I've got no beef with people buying houses to rent them out, or buying houses to do them up and sell them on. I've just got a problem with people who buy properties and then make them inaccessible for the people who could/want to live there.

[oldrider]

Craft Beer has been around for ages, the Europeans just call it beer.
When touring around Europe for 4 months in the Summer of '89 tried lots from Belgian Sour/cherry beers,German Weiss Biers, French crap like 1664/33 that used to get on day trips to Calais and Dunkirk, Czech Pilseners, Engish ales and Irish Porters ( other than Guinness).

I was only here for 4 years of my 20's so 'missed' a lot of the local 80's/90's, once I got my Trade Cert I was off.

This country was dotted with little Breweries until the monopolists bought them all out and closed them down in favour of their own (boring) product!

Nice trend today with "boutique" breweries popping up all over the place again. Producing some very palatable products too. : - . Choice every time!

[TheDemonLord]

As much as renters need improved tenure and better living standards......

https://www.nzherald.co.nz/business/...ectid=12132076

Crunching the numbers in Auckland I can't see how you can rent a $1 000 000 house for $600 a week.

40% deposit is 400K ( if you need to have one).

600K at 4.5 % is 27K ($519.00 PW)

then you have insurances, rates, maintenance and so on.

Add the cost of heatpumps and insulation on top of that.

And now pets.

Bloody greedy landlords....

Nah - you deduct the net-loss you are making on the property from the gross profit you are making on your other business, therefore paying tax on a smaller amount of profit from your other business. Which means you are effectively increasing your equity for free...

[neels]

Nah - you deduct the net-loss you are making on the property from the gross profit you are making on your other business, therefore paying tax on a smaller amount of profit from your other business. Which means you are effectively increasing your equity for free...

Unless they change those rules as well, and go back to ring fencing losses to write off against future profits....

I don't know how things are in the rest of the country, but where I live nobody is too concerned about that, as the losses aren't huge and most people will be able to live without a tax refund of a couple of thousand on each property. The interesting part of the rental loss equation is the fact that there is a house available for someone to live in for a total cost to the taxpayer of around $2k per year, if HNZ can do it for that then they should get on with it.

If landlords keep getting out of the market and the houses go on the market I suspect it will be my kids and their mates who will be buying them, there will be a pretty large number of tenants that regardless of what's for sale aren't and may never be in a position to be able to buy, so the state will have to provide housing for them as well as the current waiting list.

[sidecar bob]

Craft Beer has been around for ages, the Europeans just call it beer.
When touring around Europe for 4 months in the Summer of '89 tried lots from Belgian Sour/cherry beers,German Weiss Biers, French crap like 1664/33 that used to get on day trips to Calais and Dunkirk, Czech Pilseners, Engish ales and Irish Porters ( other than Guinness).

I was only here for 4 years of my 20's so 'missed' a lot of the local 80's/90's, once I got my Trade Cert I was off.

I recently realised one of my closest mates has turned into a craft beer swilling, bearded hipster.
Heres a pic of him.

[Grumph]

I recently realised one of my closest mates has turned into a craft beer swilling, bearded hipster.
Heres a pic of him.

He's young, there's time to adjust him....Don't think I'd have been game to jump that thing quite so high. Didn't I see that the frame was built by the poms ?

[BMWST?]

Unless they change those rules as well, and go back to ring fencing losses to write off against future profits....

I don't know how things are in the rest of the country, but where I live nobody is too concerned about that, as the losses aren't huge and most people will be able to live without a tax refund of a couple of thousand on each property. The interesting part of the rental loss equation is the fact that there is a house available for someone to live in for a total cost to the taxpayer of around $2k per year, if HNZ can do it for that then they should get on with it.

If landlords keep getting out of the market and the houses go on the market I suspect it will be my kids and their mates who will be buying them, there will be a pretty large number of tenants that regardless of what's for sale aren't and may never be in a position to be able to buy, so the state will have to provide housing for them as well as the current waiting list.

thats the other side of the attractive tax regime...if the private lanlord doesnt buy houses and rent them out.....who will?

[Voltaire]

I recently realised one of my closest mates has turned into a craft beer swilling, bearded hipster.
Heres a pic of him.

Too much hops?

[R650R]

Sure we had a housing crisis thread somewhere..... anyhow apparently we’ve been doing it all wrong....

https://i.stuff.co.nz/business/opini...nising-housing

I love reading extremist left wing opinion pieces, never fails to give a chuckle at the stupendously ridiculous idea so they have.
I completely understand the maori tradition and protocol around this stuff and was prob highly relevant in traditional living arrangements on Marae or pa were they didn’t have things like doors or sound insulated walls etc
But to say this applies in modern setting and we need to “decolonize” housing is crazy. Yes catering for large families is a valid point but hey as a country we need to work with what weve got.
As always if anyone’s unhappy with a FREE service they can apply for a refund immediately....
What she doesn’t realise is peasant level Pākehā would have had same ideals at one stage too but practically trumps previous norms when technology/construction negates the original issue.