Editors choice comments
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Definitely a three-legged race to the finish line in 2014, with Normal Russian moving the (indigenous, no animals were harmed during the typing of this comment) ducks into line. Vote Labour, get yer Greens for Free!waymad Greens drop money printing plan
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Interesting question Factboy If you wish to open an account with ANY financial institution in AU you have to go through a 100 points test, like producing documentary evidence that you are a real person, like a passport, drivers licence etc, any 3 will do But, and here's the interesting...iconoclast Tuesday's Top 10
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Since when has it been the bank's fault if a customer spends money they don't have? Because this is precisely what this is all about. If people are annoyed that ANZ charges them for honouring their unfunded spending, then maybe they need a mirror rather than a lawyer? The...Stanley Pointen 'Mathematical calculations back up fees' -ANZ
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The un-asked, un-touched, un-mentionable, un-answered question is :- Are the leaky-home-owners unloading their leakers The current over-heated, frenzied, buy at-all-costs market should have cleaned them all out by now Problem solvediconoclast More house price gains seen
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Nice effort Tony. How many bags of rice have you got stored at the moment? A few comments: 1. Long overdue. No child should leave school without a trades skill, job or path to further education. 2. Sure but could lead to patchy infrastructure? 3. So much for the "free market" :-) 4...raf Alexander's housing solution
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and the dutch story is very similar, yet they are not a PIIGS. After a housing boom lasting almost 15 years, the Dutch housing market started to become weak in 2008, mainly due to the global financial meltdown. In 2008, house prices fell by 5.3% (-7.5% in real terms) In 2009, house prices...steven Friday's Top 10 at 10
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LVR restrictions would achieve very little and would most likely distort the market further – rich get richer situation! Here are some scenarios: 1) If you have say a couple in their late 40's to late 50's that are buying an investment property/properties then they most likely have a...bigblue Key wants first home buyers protected
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Wow, highly leveraged first time buyers are much of the problem....so, lets cutout that bit so we dont lose votes...so problem uh not solved. It will be intersting to hear what labour and the greens have to say on this one. Will we see some spine and leadership, or will they follow blob man above...steven Key wants first home buyers protected
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If those images of central Christchurch on Feb 22 2011 taught us anything, it should be that we need to think very carefully about building regulation. Following the media lately, there seems to be a real push from the "cut red tape/developer knows best" camp. Very dangerous.Yoda A perfect storm
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Well off the beaten track for most I imagine but two nations I follow with interest are Pakistan and Egypt, since both face massive problems arising from overpopulation and resource depletion. I think one or other or both will approach 'failed state' status in the next 5 years. Egypt has a...andyh Brown: Population discussion needed
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Astonishing. They forsee house price inflation at up to 14% in a years time but are not going to do anything meaningful to try and forestall it.andyh RBNZ lifts rate track 10-20 bps
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Fascinating statistics. Auckland strat. median house prices now growing at 15% - with each month the growth rate increasing. At 15% - it is the fastest growth experienced since 2007, and consistent with the growth achieved in mid 2007. With the prevailing trend it is more likely...Keyser Söze Housing market on fire
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The decrease in due diligence might also be because people feel poor after needing to spend so much on the house itself. A simple lack of funds? If you need to scrape together every last penny for a deposit and the bank is at the limit of their lending ability, you won't want...Zoltuger A 'somewhat desperate feel'
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RBNZ has put out a consultation paper on what it is proposing. I like the 90 day rolling LVR restriction, without a short term measure individual banks can pick and choose when they get more aggreesive and we only know in hindhight which bank has been more aggressive when the news is published and...interest Will the RBNZ use LVR restrictions?
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Commentators can warn as often as they like but the average first buyer is looking ahead for 12 months at most because they just want to get settled into a reasonable life after renting.. The real problem is the high values that have been aggravated by issues not acted on as yet and in...Basel Brush III Warning to first-time home buyers
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How about a breath alcohol limit? By the nature of comments on occasions they must be pissed. But then so am I from time to time :-) Seriously though, this forum is probably about as good as it is going to get given human nature. Tamper at your peril I would say David as there really is no...scarfie Your comments please
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But we do share things...the Chinese may well have discovered NZ before Tasman did! and they did migrate here to find gold....and they did play a part in the early economy...and always were a part of the country...and those prepared to learn things will know about Chinese history...and not go round...Wolly 'China is NZ's economic blind spot'
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If RBNZ are coming up with all sorts of rules and then exemptions to their rules because the rules wont always work or be fair before they have even introduced the restrictions imagine how thick their rule book will be once the banks and other lenders have had a few months to think of ways around...Waripori RBNZ wary of LVR 'speed limit' gaming
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Good piece Gareth, top summary. As a rule of thumb anything Kerr has had involvement in generally comes with a red flag as far as I am concerned. Heartland have a way to go yet before I start thinking of them as a plain vanilla bank.andyh Heartland's property quagmire
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Someone who only controls say 2mill$ of Central Auck property(res) Has made $400,000 over the last year. (not including rents and deductions which are additional) Can't say fairer than that. SKSK B&T inventory lowest since at least '98
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Yay, so happy about this. The councils have shown themselves to be incapable of allowing affordable housing to be built. They are now drunk with the powers they have and the fees they have been able to collect. Fees which they have wasted on stupidities. And all the while local...Davo36 Govt holds out for housing power
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Question for Bernard H ? , RE Money printing , I wonder what the likely negative consequences would be if New Zealand issued 10 , 12 and 15 year Bonds ( debt) yielding 0,5% denominted in NZ$ for the Christchurch rebuild ? While orthodox economics says this would be inflationary , the...Boatman Wednesday's Top 10 at 10
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Thanks Matt for setting out some objections for those of us who, economically and statistically, are Bears of Small Brains. I had this odd feeling with reading through the original article, that a fixation on M3 (an aggregate measure if ever there was one) was shall we say an odd way of...waymad Careful how we treat the 'economy'
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Very well written piece. The only people who will be kept out of the housing market by restrictions on LVRs will be honest prudent first home buyers without parents who own houses. Those are the people we want to help not hurt. There are so many ways around these kind of restrictions they will...Waripori RBNZ's new 'toys' carry risks
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Brilliant piece, agree all the way. I believe cost reductions are allways possible but with housing those reductions cannot keep if with rising prices. Land, People say "they don't make any more land" This is not true. When buildings are layered (multi-story) they are building more...Mike B There's no such thing as affordable housing