Politics 🗳️ NZ Politics

[miket12]

Why don't you use some of your equity and buy a rental property, don't claim the interest deductions and rent it out at what you think the tenant can afford but below market rent?
Then you would be doing something about it.

There are those that can afford to do that.... but they're not called "businesses".... they called "charities" and can afford to charge less rent because they don't pay tax.

They can also "afford" to charge less rent because they have people like me who provided services to them for a reduced fee, and, sometimes, no fee at all.

They also don't have to charge as much because people like me donate money to them.... more "income" that goes untaxed.

I'd be more than happy to drop the rent I charge by 33% if I didn't have to pay tax on it!!!

 

[dean]

And new Auckland CVs coming next month - which might sellers expectations drop a bit.

We had new QV up here last year. QV's are computer generated valuations taken from Council records which are often out of date.
We had our house appraised by an agent last year and they came up with the QV as the market value.
I pointed out that their appraisal was faulty because even though they had visited, they still made their market comparisons with out of date records from Council and QV. The house is twice the size of the size on the file and many outside improvements. I asked QV to do an actual valuation and eventually they did, they sent a valuer out. New QV 25% more. This left the agent in a spot as I had a registered valuation against a market appraisal.
It also alters the value on the Homes website that gives desk top values for anyone to see.
I know people use them as a guild line but that is all they are.

 

[juju]

We had new QV up here last year. QV's are computer generated valuations taken from Council records which are often out of date.
We had our house appraised by an agent last year and they came up with the QV as the market value.
I pointed out that their appraisal was faulty because even though they had visited, they still made their market comparisons with out of date records from Council and QV. The house is twice the size of the size on the file and many outside improvements. I asked QV to do an actual valuation and eventually they did, they sent a valuer out. New QV 25% more. This left the agent in a spot as I had a registered valuation against a market appraisal.
It also alters the value on the Homes website that gives desk top values for anyone to see.
I know people use them as a guild line but that is all they are.

I guess a house is only really worth what you can get a buyer to pay.
A lot of sellers are holding onto outdated CVs or purchase prices as to what they want
but theres definitely been a drop

 

[miket12]

I guess a house is only really worth what you can get a buyer to pay.
A lot of sellers are holding onto outdated CVs or purchase prices as to what they want
but theres definitely been a drop

The other thing with house values is that they really only mean anything when you're buying your first home or exiting a market. Otherwise, between comparable houses, yours might have gone up 3% over a year, or down 3%, but so have all the other houses. When you're moving from one property to another, the difference you will be paying or receiving (if downsizing or moving to a cheaper area) is pretty much the same regardless of property valuation fluctuations.

It always makes me laugh when homeowners, before the GFC, were always talking about how much their property had gone up.... as if others hadn't. Their's may have gone up $50,000 in a year.... but so had the one in the better area they wanted to buy and the amount they needed to borrow was either the same or, in most cases, more than what they would have had to borrow if they'd brought the other property 12 months before. What I'm meaning is if $600K house had gone up 5% (or $30,000) in a year, the house in the next neighbourhood I might now want to buy was worth $800K but it had also gone up 5% (or $40,000) in 12 months, I'm actually borrowing $10,000 more to buy that house in spite of the increase in value of mine.

One of the main reasons this drop in house prices and the increases in mortgage rates has hurt so many people is that, anyone buying their first house since the GFC hadn't experienced rising mortgage rates until a few years ago. If you weren't prepared, the extra interest costs are really painful, even though the peak of the interest rates was still below the median historical average from the early 2000's.

 

[MaybeTop8]

I see the hand is firmly out with this one.

Careful Frank, your ideology is showing again.

 

[MaybeTop8]

Geez that chip on your shoulder must be really weighing you down. Pathetic.

I see chips everywhere here Brownstone. Plenty of privilege and entitled grievance coming from the right, as always.

 

[MaybeTop8]

 

[MaybeTop8]

 

[miket12]

View attachment 9678

While I think it's disgusting if they received extra funding when most of the others have had theirs cut, I'm having trouble finding anywhere "official" which says if this $30,000,000 was extra funding or if it was the budget to step up the Seymour's pet ministry? There's plenty saying it's extra, but those aren't "official" but are from the usual protagonists on the left like Russell and Renney.

 

[MaybeTop8]

While I think it's disgusting if they received extra funding when most of the others have had theirs cut, I'm having trouble finding anywhere "official" which says if this $30,000,000 was extra funding or if it was the budget to step up the Seymour's pet ministry? There's plenty saying it's extra, but those aren't "official" but are from the usual protagonists on the left like Russell and Renney.

Nothing wrong with the "usual" protagonists if the facts are there - https://www.thepost.co.nz/politics/...t-budget-boost-while-other-agencies-made-cuts but it's behind a paywall

 

[MrFrankWhite]

Careful Frank, your ideology is showing again.

What ideology is that?

 

[wizard of Tauranga]

I see the hand is firmly out with this one.

There are two different views on life in this thread.

One is it’s the government, landlord, rich people, business owners, colonisers, etc, fault for everything and they need to do more.

And the other is that you take personal responsibility, don’t blame everyone and make the most of your life through your own efforts.

In my experience, one way has control over their destiny which leads to success and happiness and the other group finds their outcomes are outside their control and they are always bitter that someone or other aren’t doing enough.

Your outcome in life will be the result of your mindset… not what the government, landlords, etc does or doesn’t do.

 

[marv.]

There are two different views on life in this thread.

One is it’s the government, landlord, rich people, business owners, colonisers, etc, fault for everything and they need to do more.

And the other is that you take personal responsibility, don’t blame everyone and make the most of your life through your own efforts.

In my experience, one way has control over their destiny which leads to success and happiness and the other group finds their outcomes are outside their control and they are always bitter that someone or other aren’t doing enough.

Your outcome in life will be the result of your mindset… not what the government, landlords, etc does or doesn’t do.

sage, but will likely be met with and you have no idea and yeah but tax breaks for landlords and privilage etc.


anyway.
that’s my dose of snark for the day. ill park it there.
it’s been fun though, thanks to all for playing.

 

[miket12]

Nothing wrong with the "usual" protagonists if the facts are there - https://www.thepost.co.nz/politics/...t-budget-boost-while-other-agencies-made-cuts but it's behind a paywall

Actually, it would appear these "facts" are wrong.... unless the red tape group had a budget of -$14.0million last year. Funny that stuff.co.nz haven't picked up thepost story.... since they own it. In fact, neither have the Herald, OneNews, Newtalk ZB or RNZ.

I wonder why. Because they most likely looked at the Budget 2024/25 which says, despite thepost insisting that Seymour got his pet regulation department $30m in the Budget, it only received $16M in the Budget.

Oh, and here's a screenshot of the Budget announcements as relates to regulation from this article...

https://www.interest.co.nz/public-policy/128083/budget-202425-summary-all-spending-plans



Oh, and as for Seymour's "pet project", it was started under Labour with a budget of $2.3M. Yes, it has increased by not the $30M thepost are claiming.

"facts"? I think not!!!

 

[Noitall]

Actually, it would appear these "facts" are wrong.... unless the red tape group had a budget of -$14.0million last year. Funny that stuff.co.nz haven't picked up thepost story.... since they own it. In fact, neither have the Herald, OneNews or RNZ.

I wonder why. Because they most likely looked at the Budget 2024/25 which says, despite thepost insisting that Seymour got his pet regulation department $30m in the Budget, it only received $16M in the Budget.

Oh, and here's a screenshot of the Budget announcements as relates to regulation from this article...

https://www.interest.co.nz/public-policy/128083/budget-202425-summary-all-spending-plans

View attachment 9681

Oh, and as for Seymour's "pet project", it was started under Labour with a budget of $2.3M. Yes, it has increased by not the $30M thepost are claiming.

"facts"? I think not!!!

Still quite a substantial increase from $2.3 million to $16 million

 

[miket12]

Still quite a substantial increase from $2.3 million to $16 million

Agreed but there's a slight difference between saying that there's been a $30M increase when it's "only" been $13.7M.

I am surprised that it's gone up that much but not surprised at the "reporters/bloggers" claiming it's over twice as much.

Then again.... never let the truth get in the way of a good story.

 

[MrFrankWhite]

There are two different views on life in this thread.

One is it’s the government, landlord, rich people, business owners, colonisers, etc, fault for everything and they need to do more.

And the other is that you take personal responsibility, don’t blame everyone and make the most of your life through your own efforts.

In my experience, one way has control over their destiny which leads to success and happiness and the other group finds their outcomes are outside their control and they are always bitter that someone or other aren’t doing enough.

Your outcome in life will be the result of your mindset… not what the government, landlords, etc does or doesn’t do.

I finally understand what Alan Duff was talking about.

 

[Noitall]

Agreed but there's a slight difference between saying that there's been a $30M increase when it's "only" been $13.7.

I am surprised that it's gone up that much but not surprised at the "reporters/bloggers" claiming it's over twice as much.

Then again.... never let the truth get in the way of a good story.

Doesn’t quite seem the gotcha when we’re talking about a $13.7 million increase. Admittedly what was mentioned wasn’t the case, but that’s still massive when plenty of other areas are being slashed

 

[Noitall]

There are two different views on life in this thread.

One is it’s the government, landlord, rich people, business owners, colonisers, etc, fault for everything and they need to do more.

And the other is that you take personal responsibility, don’t blame everyone and make the most of your life through your own efforts.

In my experience, one way has control over their destiny which leads to success and happiness and the other group finds their outcomes are outside their control and they are always bitter that someone or other aren’t doing enough.

Your outcome in life will be the result of your mindset… not what the government, landlords, etc does or doesn’t do.

Did you feel the same when the previous government was in?

 

[Worried2Death]

sage, but will likely be met with and you have no idea and yeah but tax breaks for landlords and privilage etc.


anyway.
that’s my dose of snark for the day. ill park it there.
it’s been fun though, thanks to all for playing.

Pretty good banter, craic and kaka korero here today. My eyes glaze over when we label each other left and right though, wish we could get beyond that divisive construct and artifice.