Own or rent??

**Big Dave** · 24th August 2006, 12:49

Originally Posted by The_Dover

I think I'll just become a pimp.

That's where the real money is.

I ride around Ponsonby, K road, and the red light area a fair bit. Looking for locations for photos, observing the wildlife and just riding.

Tain't Miami Vice, sunshine.

**Indiana_Jones** · 24th August 2006, 12:54

Originally Posted by Finn

There ain't gonna be anymore land made.

Lex Luthor says otherwise!

Lois Lane: But millions of people will die!
Lex Luthor: Billions! Once again, the press underestimates me.

MUAHAHAHAHAHAAA!!!!

-Indy

**Finn** · 24th August 2006, 12:54

Originally Posted by The_Dover

You tell that to BP, Hugh Hefner and Bill Gates.

They keep reclaiming it from the sea all the time.

Interestingly enough Son, BP owns a shit load of property world wide. It's starts with the petrol stations and keeps going. Hugh's business almost collapsed but he also has a huge porperty portfolio. Bill Gates is a freak.

On that note, what business do you think McDonalds is in? If your answer is hamburgers then you are incorrect. They are a property company.

They're not reclaiming sea in NZ thanks to the RMA and maoris. Not that this is a problem though. We hardly use much land in NZ.

**marty** · 24th August 2006, 12:57

some interesting reading here. apparantley hamvegas has the best rent/value return!

http://www.dbh.govt.nz/UserFiles/Fil...202005-2006%22

we're in our own place in cambridge with a smallish mortgage - should be sorted by 2010.

**The_Dover** · 24th August 2006, 12:58

Originally Posted by Finn

Interestingly enough Son, BP owns a shit load of property world wide. It's starts with the petrol stations and keeps going. Hugh's business almost collapsed but he also has a huge porperty portfolio. Bill Gates is a freak.

On that note, what business do you think McDonalds is in? If your answer is hamburgers then you are incorrect. They are a property company.

They're not reclaiming sea in NZ thanks to the RMA and maoris. Not that this is a problem though.

Property is hardly BP's core business is it? And most of the Viaduct and Auckland waterfront it built on reclaimed land.

Originally Posted by Finn

We hardly use much land in NZ.

So why is it so fucking overpriced?

**_Gina_** · 24th August 2006, 12:58

So how many out there own more than one house?
edit - me = 2
We do too.
Of those, how many regret it?
edit - sporadically... like when all the bills come in, but 98% of the time - no.
Ditto

How many plan to buy more?
edit - me
Hmmm, theory says it's a good idea, so I won't discount it, however our master plan is to subdivide the first property when the council finally put a sewerage line in and then sell the new property and continue renting the old. Then the second property long term (10 years) we believe will be subdividable if the growth of the town carries on the way it is going.

Gg

**Indiana_Jones** · 24th August 2006, 12:58

Originally Posted by Big Dave

I ride around Ponsonby, K road, and the red light area a fair bit. Looking for locations for photos, observing the wildlife and just riding.

Tain't Miami Vice, sunshine.

It is now!

w00t!

-Indy

**Indiana_Jones** · 24th August 2006, 13:00

They better stop reclaiming land, I'll be out of a job lol

-Indy

**The_Dover** · 24th August 2006, 13:02

so how many of you bought your own homes, off your own back (no assistance at all) with a mortgage value of greater than 5 times your annual income?

**ManDownUnder** · 24th August 2006, 13:09

Originally Posted by The_Dover

so how many of you bought your own homes, off your own back (no assistance at all) with a mortgage value of greater than 5 times your annual income?

me, but there were two of us saving/pitching in for the deposit.

House was 196k, income on the day was 35k, combined income was 55k.

Set up a company, sell some shares in it, have the company buy a house.

**Big Dave** · 24th August 2006, 13:12

Originally Posted by The_Dover

So why is it so fucking overpriced?

The market sets the prices. Demand.

**The Stranger:Me** · 24th August 2006, 13:12

Originally Posted by The_Dover

So why is it so fucking overpriced?

My brother is in the process of chopping a residential section in half at the moment.

He recons it will cost about 50 to 55k to complete this. He says 33 - 35k goes to the council. Who is going to pay for that? The purchaser of course.

But hey rubber stamps are expensive and that does help them keep rate increases so small, so I guess it is a positive thing.

**judecatmad** · 24th August 2006, 13:15

Originally Posted by The_Dover

so how many of you bought your own homes, off your own back (no assistance at all) with a mortgage value of greater than 5 times your annual income?

When you say 'no assistance at all'....that doesn't include the kind bank assisting you with providing the money with which to purchase said house, does it?!

Nah, we could only get 3x our joint income as a max. Any more would have been financial suicide - only takes one of you to lose their job and you're out on the street (either homeless or making some extra money!

)

**Hitcher** · 24th August 2006, 13:17

What a great idea. Let's subsidise people to live in Auckland and continue to compound the problems that exist there: high property prices, ratshit infrastructure, Dick Hubbard.

Or we could treat Auckland exactly the same as any other part of New Zealand and let businesses and people decide where they would like to live and work but on a level playing field without artificial distortions.

**The_Dover** · 24th August 2006, 13:18

Originally Posted by Hitcher

What a great idea. Let's subsidise people to live in Auckland and continue to compound the problems that exist there: high property prices, ratshit infrastructure, Dick Hubbard.

Or we could treat Auckland exactly the same as any other part of New Zealand and let businesses and people decide where they would like to live and work but on a level playing field without artificial distortions.

Did you forget your meds again Hitler?

What ARE you talking about?