General New Zealand Politics

If there was an election today, who would you vote for?

  • National

    Votes: 5 9.6%
  • Labour

    Votes: 19 36.5%
  • Greens

    Votes: 6 11.5%
  • NZ First

    Votes: 1 1.9%
  • Act

    Votes: 10 19.2%
  • New Conservative Party

    Votes: 0 0.0%
  • Other

    Votes: 1 1.9%
  • None of then

    Votes: 10 19.2%

  • Total voters
    52

bruce

Warriors 1st Grader
Contributor
Sep 1, 2015
19,492
He’s all in on China, and he’s all of those things you stated. That’s the scary thing, it’s only a matter of time before it’s official, they’re the world super power.
China has been in a position to rule the planet before.

They have always imploded because the country is too big to be controlled by a madman forever. Mao lasted way longer than he should in that regard.

Xi will go out in a box, just like Putin. He is pissing off some very wealthy and powerful people.

Just don't ask me when.
 
  • Like
Reactions: Noitall

Noitall

1st Grade Fringe
Aug 21, 2019
2,330
China has been in a position to rule the planet before.

They have always imploded because the country is too big to be controlled by a madman forever. Mao lasted way longer than he should in that regard.

Xi will go out in a box, just like Putin. He is pissing off some very wealthy and powerful people.

Just don't ask me when.
They said many years ago they would breed the world out. Think of the Chinatowns in a majority of the countries in the world, they aren’t going to be limited to their own borders. They’ve played the long game to great effect
 
  • Like
Reactions: bruce

bruce

Warriors 1st Grader
Contributor
Sep 1, 2015
19,492
They said many years ago they would breed the world out. Think of the Chinatowns in a majority of the countries in the world, they aren’t going to be limited to their own borders. They’ve played the long game to great effect
I really like Chinese people. I find them much easier to deal with than Indians, as an example.

They are natural traders, and like to deal with trusted associates. That can take a long time to establish, hence the difficulty of westerners doing deals in the orient.

Their problem, as in eastern Europe, is that for millennia they have been ruled by tyrants, who are absolute psychos.

So the people are nice and gentle, but their leaders are just the opposite.
 

Miket12

Warriors 1st Grader
Apr 20, 2012
10,387

Bought three months ago, back on the market​

Auckland’s extended level 4 lockdown is not preventing home owners from putting their property on the market, with one agent listing properties worth $60 million in the first four weeks.

Harcourts top agent Aman Gulia, who with colleague Joe Steel has brought 14 new properties to market in the month as well as a 15-home development in Auckland’s inner west, says vendors have seen the sales results during lockdown and are prepared to move on listing.

One of the newest listings will attest to the speed of Auckland’s development frenzy, a pair of Sandringham properties with zoning for apartments listed by Gulia and Benjamin Lu this week.

The seller had owned one of the homes on 250 and 252 Mount Albert Road, a four-bedroom 1950s house on 804sqm, since the 1990s, but paid $1.78m in June for the second, a four-bedroom 1920s home on 674sqm.

The pair have a combined ratings valuation $2.58m, but Gulia expects them to sell for around $5m.

“It will be worth more than three months ago. It’s just crazy,” he says.

“We listed and sold two properties entirely during lockdown, and have made $16m sales in September alone.”

Two more of the pair’s listings are for properties asking for more than $6m – a prime development site in Parnell and an exquisitely renovated estate in Onehunga. Both properties had been on the market before and had good photos all ready to use for marketing.

“Vendors are thinking differently,” Gulia says.

“When they tell us ‘we’ll do the work and list as soon as we’re out of lockdown’, we’re looking for a solution. If we’re just selling the land, we look at the property on Google satellite and say ‘don’t worry’, we can enhance those images. There’s no risk putting it on the market now.”

Gulia says that’s not always possible – if there are no photos, or the house is tenanted so third parties cannot get into it – but buyers are there during level 4.

The Harcourts’ team’s biggest listing is for a development of 15 duplexes and townhouses on 98-100 Walker Road, Point Chevalier.

In October last year, Gulia sold a pair of original 1950s properties to developers for $6min one of the rapidly heating market’s early neighbour deals.

After a 10-month settlement period, during which the developer had the four- and three-bedroom homes designed and consented, they are on the market, asking for between $1.5m and $2.4m. Called Walker Terraces, some with a garage, others with uncovered carpark, they are scheduled for a December 2022 completion.

“We’ve had 160 enquiries in four days since we listed them,” Gulia says.

“Buyers are a mix of people who’ve sold their family homes for a high price in Point Chev and want to stay in the area, and people moving here. They’re really good quality, with water views and near the park.

“It’s a good sign for other developers who have bought in the last six months, it gives them surety to see such high demand and there will be more coming onto the market.”

Townhouse sales in the seaside suburb are benchmarked against a pair of brand-new townhouses in Newell Street, on the waterside of Point Chevalier, which sold at auction for $2.476m for the four-bedroom and $2.27m for the three-bedroom last month.

And the neighbourhood’s - and nation’s - eyes are on the four glamorous townhouses on Huia Road, on the city-side of the suburb, just completed for The Block NZ with the live auctions, originally scheduled for September 5, delayed until Auckland’s return to level 2.

Sales include two properties in Savoy Road, Glen Eden, in west Auckland that hit the headlines when four neighbours combined to sell their properties just before lockdown. The owners had seen two houses on nearby Evans Road selling for almost $4m to a developer earlier in the month and hoped to reap a combined $6m for theirs, which are zoned for terrace houses and apartments.

The two closed deals, a five-bedroom home on 1138sqm for $2.036m and another 1950s house on 850sqm for $1.596m, are more than double their ratings valuations. The other two owners are in negotiations with more than one developer, Gulia told OneRoof.

Buyers are spending big sums.

Gulia and Steel’s other completed deals include more than $5m for over 2000sqm of land in a single-house zone in Mount Eden’s grammar zone, $3.91m for a four-bedroom house on over 900sqm of land zoned for density in blue-chip Paritai Drive, Orakei, and $3.55m for a three-bedroom 1950s house in Ventnor Road, Remuera.

The 990sqm Remuera site, zoned for suburban density but outside of grammar zone, changed hands only last October for an undisclosed price, but Gulia says it was sold by team member Sid Sharma to a developer in an off-market deal. It had a ratings valuation of $4.15m.

South Auckland developers also bought a pair of neighbouring properties in Leaver Place, Manurewa for $2.61m, more than $1.15m over their combined council ratings valuation. The combined sites of just over 2400sqm are zoned for suburban density.

 

Hardyman's Yugo

1st Grade Fringe
Jun 2, 2017
3,400
Lancashire, England
I really like Chinese people. I find them much easier to deal with than Indians, as an example.

They are natural traders, and like to deal with trusted associates. That can take a long time to establish, hence the difficulty of westerners doing deals in the orient.

Their problem, as in eastern Europe, is that for millennia they have been ruled by tyrants, who are absolute psychos.

So the people are nice and gentle, but their leaders are just the opposite.
On the subject of Chinese expansion

https://www.politico.com/news/2021/09/15/biden-deal-uk-australia-defense-tech-sharing-511877


Biden, Johnson and ScoMo making a joint announcement in just over an hour
 

Juju

1st Grade Fringe
Nov 9, 2012
1,856
A good question to which I can only guess.

He left Elders Finance in 1987 after being a senior forex dealer. Shortly afterwards it transpired the company had borrowed a large amount, possibly swiss francs which after the economic collapse of 1987 turned into an expensive loss.

The manager of the company got the blame, and the sack, and was personally gutted because he believed it wasn't his fault. His health suffered greatly from the stress. He died prematurely.

Later on Labour tried to link Key to another scandal at Elders, involving Equiticorp which didn't entirely stick, but there are still questions in the minds of some. I didn't know too much about that, but the francs issue I did.

Save to say Key always had a knack of knowing when to move on. He was apparently successful at forex trading which takes the skill of a cool trading brain e.g a used car dealer, or so I have been told.

Forex dealers were renowned for living the high life, with all that entailed. He had married his childhood sweetheart so didn't take part in any of that, of course, which he attributed to him being able to put money away, yeah right.

Without doubt he has a non stop calculating brain, working the logical odds.

IMO he either could see the writing on the wall, which I have doubts about because Labour were a mess.

Or as some suspect that something else was in play, maybe his wife realized they had enough money for the rest of their lives so he could stay home on the porch.

Who knows?...but he did leave suddenly and without warning...right from his time at Elders Finance

Personally I think he was a strange fecker. Why? Because playing with a waitresses pony tail in a restaurant. is an unacceptable fetish IMO and I am sure his missus agreed.
Just like the rumours of Clarke Gayford that you guys get all excited by...

There was a rumour when Key chucked in that he been shagging another National Party MP (Parata).

Now I'm not one to gossip...
 

Miket12

Warriors 1st Grader
Apr 20, 2012
10,387

Buyers with just a 10% deposit face higher interest rates and fees​

First home buyers with low deposits face a Catch-22. A 10% deposit gets many young New Zealanders onto the housing ladder. But they will pay higher interest rates or a one-off charge added to the mortgage.

With house prices rising steeply, and New Zealand’s average property value hitting $1 million, many buyers have no choice but to buy on a low deposit to get started in home-ownership.

Banks charge low equity fees because the lower a person’s deposit, the riskier the loan. The risk to the bank is that house prices fall and the buyer’s mortgage ends up being more than the value of the house.

That’s not a problem if the owner keeps paying the mortgage, but sudden changes in the market often come with other economic consequences – such as job losses - which can lead to mortgagee sales.

One of the other downsides of having a low first home deposit is that as well as margins or premiums, you may also need a registered valuer’s report, which can cost upwards of $1000.

The real trick with these loans is that in a rising market buyers can remortgage or move quite quickly onto a standard interest rate. Not all do, perhaps because of apathy or a lack of knowledge.

At Westpac, for example, homeowners paying low equity margins can seek a review if the property has risen in value meaning they now have more than 20% of the equity in the property.

“We encourage homeowners to contact us and supply a registered valuation report, or government valuation, once they believe they have more than 20% equity,” says Westpac NZ Housing Lead Peter Brooking.

“Borrowers on floating rates will have the margin removed immediately, provided it has been in place for at least six months, while borrowers on fixed rates will have it removed when the fixed rate term matures.”

An independent mortgage adviser will typically review clients’ mortgages. iLender broker Jeff Royle says his company monitors clients who are subject to margins and premiums and advises customers when they might qualify for lower rates. “This usually requires a new valuation to confirm the LVR [loan to value ratio] plus of course there may be break fees in any current loan so it doesn't always pay,” he says.

Each bank has different terms and conditions.

ASB charges a “low equity margin” on loans of above 80% of the property’s value. In practice from 80.01% to 85% borrower’s pay 0.30% per annum above standard rates. It goes up in bands to a 1.5% premium on standard rates for loans over 95%.

The “low equity premium” at ANZ is 0.25% per annum on top of the interest rate for borrowing from 80.01% to 85%, 0.75% on top for borrowing 85.01% up to 90%, and over that 2% extra.

Westpac charges a low equity margin between 0.25% and 1.5% per annum

At Kiwibank the variable rate is the same whether you have above or below 20% equity. However fixed rates differ for low equity lending. For example a 1-year-fixed currently is 2.49% if you have more than 20% equity, but 3.34% for borrowers with less than 20%.

Kiwibank also offers the First Home Loan, a government-backed loan that allows some first home buyers to buy with just a 5% deposit. If you qualify, you’ll pay a First Home Loan – Lenders Mortgage Insurance fee of 1% that covers a charge from Kāinga Ora to insure each First Home Loan against default. You can choose to pay it upfront when you buy your first home or add it to your loan. For First Home Loans with less than 10% equity a 0.25% p.a. premium is also added to the special fixed interest rates.

Royle says fewer buyers will be able to get a low equity loan come October thanks to new rules under the Credit Contracts and Consumer Finance Act 2003 (CCCFA) and the Reserve Bank of New Zealand reducing the percentage of banks’ lending to low equity buyers.

Low equity borrowers sometimes have to go to second tier or alternative lenders, which also charge more for higher borrowing. Resimac, for example, charges 3.39% interest for loans under 70% LVR, and up to 4.09% for 80.01-90% LVR.

Squirrel, which is a bit different from many because it has access to money invested directly with it on a peer-to-peer platform, offers loans of up to 95%.

The first 80% is interest only and charged at a normal 30-year interest rate between 2.98% and 3.29% for one to three year fixes,. The second part of the loan is peer-to-peer funded, but the interest rate is 9.95% with principal and interest repayments over a five year term. That is an effective overall mortgage rate of 3.93%.

The Reserve Bank is currently considering changes to the LVR rules that will mean fewer first home buyers can access low deposit lending.

 

Rizzah

Stop Being Shit
Contributor
Apr 18, 2012
4,950
Dunedin, NZ

bruce

Warriors 1st Grader
Contributor
Sep 1, 2015
19,492
Just like the rumours of Clarke Gayford that you guys get all excited by...
What I said wasn't a rumour. I had personal knowledge of the swiss francs story.
The one about Equiticorp was in the press, you can Google it.
There was a rumour when Key chucked in that he been shagging another National Party MP (Parata).
To be honest the timing and sudden nature of the resignation makes me doubt the version he saw the writing on the wall.

He didn't look happy about going. More like a dog being dragged by the collar back onto the porch.

What rumours about Clarke Gayford anyway? 🤔 Out with it, come on.
 

Rizzah

Stop Being Shit
Contributor
Apr 18, 2012
4,950
Dunedin, NZ
No self interest there… 🙄
Profits... what profits?

Girl Fire GIF by MOODMAN
 

Similar threads

Replies
39
Views
4K

Last Game

27 Aug

16 - 28
5.6 Total Avg Rating
0.0 Your Avg Rating

Highest Rated Player

Lowest Rated Player

Compiled from 5 ratings