Auckland Property Prices

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  1. Post
    I'm thinking it's only the stupid ones who do get caught.

    According to the article, the Police and IRD information sharing is pretty dismal, and if the Commerce Commission's record is anything to go by, NZ Govt agencies only prosecute if they've got a written confession.

    Also, there's a willful disinclination by National in particular, to collect information on business in NZ.

  2. Post


  3. Post
    I'd probably have to agree, despite my own self interest. I've recently gone over what I should be doing as a strategy; getting rid of my debt or just borrowing more. Much smarter long term to borrow more, any cent I pay mortgage down costs me 30 cents in the dollar.

  4. Post
    Yer, in hindsight, keeping debt low has been the worst financial decision Iv'e made over the past decade. Played it all far too cautiously.

    Presently debt free, but I'm not sure there is anything worth borrowing for in the current climate.

  5. Post
    WillAY wrote:
    Yer, in hindsight, keeping debt low has been the worst financial decision Iv'e made over the past decade. Played it all far too cautiously.

    Presently debt free, but I'm not sure there is anything worth borrowing for in the current climate.
    It's all economics - due to the recession and subsequent printing of money to keep the economy afloat it meant the world has become flooded with cheap debt and what happens when debt is cheap? Assets prices become inflated and turn into a giant bubble. It's not just NZ houses - you've got share price market all over the world inflated, over inflated house prices all over the world, you've got electronic prices going through the roof - Samsung phones, Apple phones, TV's, Cars, heck even CPU's and graphics cards - all these items are increasingly massively in price every year because people have all this new money to spend

    If you look at the long term average of the dow jones, it's over inflated by 20 to 30%. Companies are so overvalued now that their P/E ratios go against every economic and financial textbook.That bubble will pop eventually and you won't win any prizes for guessing what happens when the American stock market drops 20 or 30% in a week - in fact it could be far worse than this because so many trades are no done using computer algorithms so over reactions are far more common and likely - maybe a 40%+ drop could even happen, who knows

    But I shouldn't complaint though, I've been making mad gains in my kiwisaver and investment funs because of the stupid asset market prices - but I'm also acutely aware that sooner rather than later I'll be swapping those into very defensive funds to avoid the crash
    Last edited by SirGrim; 20th September 2018 at 6:02 pm.

  6. Post
    WillAY wrote:
    Yer, in hindsight, keeping debt low has been the worst financial decision Iv'e made over the past decade. Played it all far too cautiously.

    Presently debt free, but I'm not sure there is anything worth borrowing for in the current climate.
    Hindsight is wonderful, I think there's always a balance, what you don't want is a debt position that can't survive a downturn.

    Realistically, I can either pay down my debt over 10 years, or buy more, possibility the latter gives me more options and costs less down the line, hard to say.

  7. Post
    SirGrim wrote:
    It's all economics - due to the recession and subsequent printing of money to keep the economy afloat it meant the world has become flooded with cheap debt and what happens when debt is cheap? Assets prices become inflated and turn into a giant bubble. It's not just NZ houses - you've got share price market all over the world inflated, over inflated house prices all over the world, you've got electronic prices going through the roof - Samsung phones, Apple phones, TV's, Cars, heck even CPU's and graphics cards - all these items are increasingly massively in price every year because people have all this new money to spend

    If you look at the long term average of the dow jones, it's over inflated by 20 to 30%. Companies are so overvalued now that their P/E ratios go against every economic and financial textbook.That bubble will pop eventually and you won't win any prizes for guessing what happens when the American stock market drops 20 or 30% in a week - in fact it could be far worse than this because so many trades are no done using computer algorithms so over reactions are far more common and likely - maybe a 40%+ drop could even happen, who knows

    But I shouldn't complaint though, I've been making mad gains in my kiwisaver and investment funs because of the stupid asset market prices - but I'm also acutely aware that sooner rather than later I'll be swapping those into very defensive funds to avoid the crash
    I think what's happening is people are factoring the future into valuations.

    - we know demand in the cities will only keep increasing
    - we know the costs to build will keep increasing for decades
    - the cost of debt still has some overhead to decrease
    - companies like Apple and Samsung have strong growth projected for decades
    - Amazon will keep getting stronger

    Etc etc. We'll have a downturn at some point and things will be rough, but I think the fundamentals will hold for a while yet. People keep expecting the end of days which is natural, but not as likely as we'd like to think.

  8. Post
    Maybe Im a fool or too conservative. Im aggressively paying off my mortgage at the opportunity cost of investing elsewhere. Other than shares Im not sure what else would be a good idea. No more property due to over inflated prices and on-going government measures.

  9. Post
    If you can find property yielding 6-7% or so that is usually a no brainer, if you were having to subsidise something at the promise of gains thats a far riskier proposition.

    But yeah outside of that it's a harder call, your mortgage debt is going to be costlier than the net income of many investment types.

  10. Post
    swazi wrote:
    Maybe Im a fool or too conservative. Im aggressively paying off my mortgage at the opportunity cost of investing elsewhere. Other than shares Im not sure what else would be a good idea. No more property due to over inflated prices and on-going government measures.
    start a business.

  11. Post
    Each to their own, no wrong answer so I wouldn't worry either way. I CBF with shares, doesn't make sense to me by the time thet are taxed, any benefit is minimal over building equity for next move. End goal for me will be a second property for a nest egg. Someone else can pay that off for me. Even if I do get hit with capital gains, it's still profitable (in my mind).

  12. Post
    holocaust wrote:
    start a business.
    Sucks up both money and time. I wouldn't recommend that as an investment more so something for people with that bent. I'd recommend someone try to improve their income doing what they're already good at instead, and using that money on a more passive earner.

  13. Post
    So are you guys suggesting we buy a bunch of 80k houses in whanganui and rent them all out for decent yield?

    Sent from my Redmi Note 5 using Tapatalk

  14. Post
    bradc wrote:
    I think what's happening is people are factoring the future into valuations.
    But who in this future will be able to afford it? Generations from the millennials onwards are looking to instead be poorer than the preceding generations.

    Samsung and apple will have strong profits for decades but not growth, smart phone market for example is now saturated and new models are not providing much incentive to upgrade.

  15. Post
    Dre wrote:
    So are you guys suggesting we buy a bunch of 80k houses in whanganui and rent them all out for decent yield?

    Sent from my Redmi Note 5 using Tapatalk
    If the economics stack up, then probably.

  16. Post
    HellToupee wrote:
    But who in this future will be able to afford it? Generations from the millennials onwards are looking to instead be poorer than the preceding generations.

    Samsung and apple will have strong profits for decades but not growth, smart phone market for example is now saturated and new models are not providing much incentive to upgrade.
    Watch how well apple do selling $3000 cellphones. People will finance that shit.

  17. Post
    Ill stick to my Xiaomi phones lol

    Sent from my Redmi Note 5 using Tapatalk

  18. Post
    Oh no!
    Instagrammers cant afford Auckland.
    https://www.stuff.co.nz/entertainmen...auckland-house

  19. Post
    That's a poor article on many levels.

  20. Post
    You can tell that purely by the URL.

  21. Post
    she should start doing porn or hooking, then she can buy a house

  22. Post
    An "influencer" dear god

  23. Post
    Dre wrote:
    So are you guys suggesting we buy a bunch of 80k houses in whanganui and rent them all out for decent yield?

    Sent from my Redmi Note 5 using Tapatalk
    its not a bad idea

  24. Post
    Dre wrote:
    So are you guys suggesting we buy a bunch of 80k houses in whanganui and rent them all out for decent yield?

    Sent from my Redmi Note 5 using Tapatalk
    Looks like you need to spend more like 130k, but yes it appears the numbers are ok.