One of the things that sickens me most about greedy selfish Landlords is how quickly they will threaten a rent rise as a punishment for them providing warm, safe housing.
It’s as if the untaxed capital gains they’ve all enjoyed isn’t enough, they have to threaten rent rises if they have to provide so much as a heater.
The minimum standards for rentals that demand basic insulation and a heater is to combat the 1600 NZ deaths each years caused by the cold…
1600 deaths attributed to cold houses each winter in New Zealand
Shockingly, almost 1600 Kiwi deaths each winter are attributed to our cold houses. Here’s what we can do to ward off the worst of winter.
…we have NZers literally freezing to death here, this is a health crisis that the Government are attempting to combat and what is the response from NZs greedy selfish Landlord class?
“We’ll spitefully put up your rents”.
What kind of selfish nasty person do you have to be if that’s your response?
How much longer do the Boomers think Gen Xers and Millennials will put up with this? Especially when you consider it was neoliberalism that helped generate this. What will happen when Gen Xers and Millennials realise the enormity of the rigged game they’ve been forced to play?
Aren’t you a boomer? If not, not far off. Do you have a rental property? I thought not. I agree with the tenor of your post, but I don’t think singling out one age group and using them against another is helpful. I don’t know any boomers who have rental properties. Sure there will be some, but in my experience, its not an age thing, it’s a greed thing. Perhaps best focus on that?
Darien, remember how you screamed at me that I had never been in a union and then you had to very embarrassingly walk it back when I pointed out to you that I had been a Union delegate with Northern Distribution?
Remember how stupid you felt Darien.
So let’s do that again with your accusations here.
1 – I am NOT a boomer you sanctimonious clown, I am a Gentleman Xer.
2 – Yes, yes I am in a rental you sanctimonious hack.
3 – Your claim that no boomers own property rentals is bullshit.
What pisses me most off about your post Darien is your feckless disregard for the history of neoliberalism BECAUSE IT IS A GENERATIONAL THING.
The neoliberal revolution under Rodger Douglas DID give Boomer’s everything. For that generation most impacted by the economic changes in the 1980s, home ownership rates for those aged 15-40 fell to 22.1% by 2013 from 35.3% in 2001. The overall rate of home ownership for individuals fell to 49.8% from 54.9% in 2001.
The vast majority of the 270 000 children living in poverty are the children of those born right after 1984. NZers in their 30s, 40s and 50s in the 2000s were buying up property while Gen Xers got to university and were hit by student loans and by the time they were paid off the property market was already priced out of their reach. The neoliberal revolution of the 1980’s had generational impacts, there can be no denying of those facts.
The legacy of Rodgernomics has been to empower Boomers who were already living subsidised life while robbing Gen Xers, Gen Y and Millennials, your denial of that, your refusal to acknowledge those dynamics and blame personal greed instead misses the structural and generational nature of this fight.
Actually I think what you are pissed off about is I suggested you were a or near being a baby boomer. Doesn’t feel that nice does it? . For the record, I was never embarrassed. Please don’t lecture me about Rogernomics. I lived and breathed it and if you think people of my age had an easy ride, you are totally wrong. And as for the abusive name calling. Just cut it out. Its not cool. And these grudge wars you engage in are why many women now stay well away from you.
Actually I think what you are pissed off about is I suggested you were a or near being a baby boomer. Doesn’t feel that nice does it? Please don’t lecture me about Rogernomics. I lived and breathed it and if you think people of my age had an easy ride, you are totally wrong. And as for the abusive name calling. Just cut it out. Its not cool. And these grudge wars you engage in are why many women now stay well away from you.
Just curious Darien, how many houses do you own?
Why cry “woman”? This has nothing to do with gender, just self interest.
I own a family home. We paid 18% interest on the loan it when we first purchased it in 1989. It was only because my brother had made enough out of being a scaffolder at Marsden Point and on the Harbour that we were able to pool resources. We finally paid it off thirty years later. I have no investment property.
Cheers for the honesty.
Darien: you certainly seem to have got under Martyn’s skin.
Your original comment was reasonable, I thought. Not sure why Martyn reacted like that.
Oh what absolute balderdash. You haven’t a clue Martyn. Rogernomics hurt the so called boomers as much as it did anyone who wasn’t already well healed. How the hell do you know how badly it affected us, you were still at school. I know very well how much it damn nearly destroyed us. I lived through it.
Along with Darien I also know no Baby Boomers who own more than one property. None of my siblings, none of my contemporaries
Will you stop blaming neo-liberalism on Baby Boomers. It’s greed Martyn and your generation are as guilty as any other.
Martyn: “The neoliberal revolution under Rodger Douglas DID give Boomer’s everything.”
This is incorrect. Boomers were disproportionately whacked about the ears by neoliberalism, especially during the 1980s. Some businesses may have made a killing; that certainly wasn’t true for ordinary people.
There were large scale job losses; these impacted upon everyone, though in some parts of NZ, Maori were disproportionately affected. Many boomers never recovered what they’d lost.
When the Lange government came to power, we had just built a house. We’d scraped together all our funds; gone into debt with the bank, of course, like all our contemporaries.
Then the Lange government lifted financial restrictions and floated the exchange rate. In very short order, the interest on our term loan reached 22%, was about to go to 23%; that on our overdraft (the bank wouldn’t extend our term loan) climbed to almost 26.5%, before rates began gradually to drop. Our interest payments were larger than our principal repayments. Interest rates remained very high throughout the 80s and into the 90s. They didn’t really ease until the noughties.
We spent more than a year never less than $10,500 in the red on our cheque account. It was a very scary time, I assure you.
Then the stockmarket crash belted the bejesus out of shareholders – many of whom weren’t boomers, in fact – and the Auckland real estate market suffered collateral damage. No doubt the same happened elsewhere.
“The vast majority of the 270 000 children living in poverty are the children of those born right after 1984.”
Well, demographics says it’ll be all of them, in fact. Poverty is a consequence of benefit cuts, along with the low-wage society. Both became established during the 1990s; in virtue of what would you suppose that boomers weren’t having children during that period? Remember that the youngest members of the boomer cohort were born in 1964. Remember also that both benefit cuts and low wages have impacted upon boomers as well, and continue to do so. The rain, it raineth upon the just and the unjust alike: to misquote the Bible….
“NZers in their 30s, 40s and 50s in the 2000s were buying up property”
Not to be pedantic, but people in their 30s in the noughties weren’t boomers. Nor would have been many of those in their 40s, depending upon how early in that decade one looks. And this is the point that boomers have been painstakingly making on sites such as this: much of the rampant house-buying over the past 20 years or so was done by the next generation. The famous “bank of mum and dad”: that’s frequently boomers, remortgaging their own properties, or going guarantor, so that their offspring or their grandchildren can buy property. Many therefore don’t themselves have the wherewithal to invest in real estate.
“…while Gen Xers got to university and were hit by student loans….”
Good grief. Many boomers were forced to retrain during the 1990s – I met them at uni – and they also got whacked by student loans. So: those unfortunates were paying off student loans at the same time as they were in lower-paid jobs than they’d had previously, while being expected to fund their offspring’s real estate purchases.
“The legacy of Rodgernomics has been to empower Boomers who were already living subsidised life…”
Right. Like Rogernomics never happened. Subsidised, my foot! If only… We got belted about the ears by Rogernomics, remember. I surely do.
I remind you: education is still subsidised, student loans notwithstanding. Healthcare remains subsidised. And we have welfare benefits. Such as they are.
I know no boomers with investment properties. Among the circle of my partner’s clients (yup: still working; economic necessity), those with such properties are the next generation, whatever their moniker is. Younger than boomers, in any event.
Gen Xer here,single property owner (or at least bank slave), non aucklander.
I totally agree with Martyn. Generation free education cheap housing and good wages, early retirement (boomers),have pulled the ladder up.
They’ve run NZ as a ponzi for Auckland property owners for the last 20 years. Taken everything charged everyone else for the same.
Of course it doesn’t mean every boomer is a bad person, but as a generation their legacy is to have done quite nicely thank you very much. For the first time quality of life is decreasing for the following generations. What a proud legacy.
Bring on means testing for super, bring on the CGT.
Keepcalmcarryon: “Generation free education cheap housing and good wages, early retirement (boomers),have pulled the ladder up.”
This is wrong on every level.
Education – especially tertiary education – has never been free.
Cheap housing: good luck with that! Housing in Auckland especially hasn’t been cheap since the 1970s. If then, even.
Good wages: hahaha! That occasioned a belly laugh here. Who can remember what their wages were before the Rogernomics bulldozer flattened the economy? Certainly not riches, but on the bright side, they were regular. Unlike after Rogernomics….
Early retirement? What? When was that? Age eligibility was gradually increased from 61 to 65 between 1993 and 2001. I remind you: The first baby boomers reached the standard retirement age of 65 in 2011.
It’s OK Keepcalmgrumpyon, the boomers will die and all the goodies most have worked hard to get will be HANDED on to the following generations. These lucky generations will be GIVEN it all on a plate without knowing the pain and at times hardship those who acquired it went through.
Will the following generations thank the boomers for this massive handout? Judging by your and Martyns comments, Nope, they will simply keep bitching and whining wanting more.
You could always take out a reverse mortgage Pete, that’l show em.
My opinion of the boomers? Selfish in the extreme, and dangerously incapable of realizing that culture and the economy has changed since their day. Also depressingly incapable of seeing the irony when they call millennials selfish and lazy for wanting opportunities and not being able to find work.
I agree with Darien, for once.
Throughout all of the issues associated with housing, there is one underlying problem – GREED.
Does a person need to own three, four, ten, fifty houses?
NO.
One of the reasons why people can’t buy a first house is because greedy people have bought up more than their fair share of them and run them as rentals.
“Well if they didn’t, there’d be no houses to rent” I hear you say.
Correct – but if they didn’t, then people wouldn’t need houses to rent because they could afford to buy them, and able to buy them!
They wouldn’t need to rent.
Here’s an idea – pass a law that you can own two houses only – the one you live in and ONE investment / rental.
Popular? I doubt it. Greedy people would lose the plot.
Can’t have that now can we?
re :”pass a law that you can own two houses only – the one you live in and ONE investment / rental.”…this is a good idea
…but what about the overseas owners in Hong Kong , Singapore and China that own multiple New Zealand houses?
…eg. you hear of figures of 40 plus houses per single overseas owner and 40 plus houses bought up in a single buy up day
…if this is true….this is where the problem is!
( of course , because Jonkey Nactional deliberately bungled/destroyed the official NZ census …it is probably very hard to find the statistics)
Absolutely that’s the problem, and I should have made it clear that I was referring to Kiwi home owners – not offshore foreign investors who aren’t Kiwis, don’t live here (and never have or will) but were allowed to buy up huge swathes of property courtesy of the previous government and its Cheshire cat leader.
People are complaining that the current government isn’t doing enough to sort this mess out. It’s not an easy mess to sort, and it won’t be dealt with any time soon. It’s going to take a LONG time to clean up.
Even the currently low mortgage rates are too high for renting property to be a viable business proposition if capital gains are excluded: The rental income doesn’t even cover the mortgage and the maintenance.
With capital gains being flat and maybe even negative for the last couple of years, only landlords who bought decades ago are cash-positive on their renter. The rest are bleeding money. Add the risk of deadbeat tenants damaging your property and many landlords are wanting a way out.
Talk to real estate agents and they will tell you the Boomers are steadily selling up, which is natural because their whole intention was to provide money for their retirement. (Most of those properties sold are going to young new home owners, which is a really good thing.)
Add in a capital gains tax and the requirement to spend money on additional insulation and heat pumps and what have we got?
WE HAVE A MAJOR RENTAL ACCOMMODATION SQUEEZE COMING OUR WAY!
FOLLOWED BY RENT INCREASES
Consider a fairly standard Auckland house, costing ~ 1 million. Add a mortgage at ~4% – that’s $770 per week just to service the debt. Add in maintenance, rates and repairs and it’s easy to see that the landlord needs $1,000 per week just to cover his/her costs with no capital recovery. Meanwhile I can invest on the NZX and typically get 5% with full tax imputation or get 3.4% in a no-risk term deposit.
I wouldn’t want to be dependent on renting in the next five years because it’s going to be brutal…
What else? Oh yes! The government has run around awarding massive pay increases to government employees. You think this won’t cause general inflation? You think the banks won’t respond by increasing interest rates…?
Back in 1983 I was in correspondence with Anne Hercus about Labour’s plans for superannuation. She was not supportive of making it a retirement benefit payable only to those who had retired (because of her concern at those still working to pay off their mortgage) and so preferered a surtax (yeah I know, a working person would be paying surtax on their work income as would saveers on their retirement savings income – including work super scheme payments).
It’s past time to stop payment of super to those still working (its already costing over $3B after tax each year and will rise towards $5B probably by c2030).
The younger generation need this money – so teachers and nurses get better pay, we fund Pharmac properly, restore ACC, afford free dental and ramp up state house construction to ensure those renting can afford to retore (as it is on the current course those renting at age 65 will have to work till they die).
Martin I’m normally a fan of your journalism, but on this instance I have to agree that the greedy landlords don’t just come from one age group. Some of the most ruthless landlords and business owners I know are in fact gen Xrs. Your sweeping generalisations don’t really hold water the vast majority of baby boomers don’t have a fortune in the bank and/ or own multiple properties. Most are in fact just getting through their daily lives and trying to pay their bills just like you. They are also just as pissed off as anyone about the neoliberal hijacking of this country by Douglas and his minions. As for the national superannuation scheme that you seem to rage against at every opportunity, it was in fact set up by Robert Muldoon so not a boomer thing. Like many ” boomers” who were born on the cusp of gen X I don’t feel like I’ve been given a free ride so don’t make bigotted statements about us as a some malevolent age based cadre’ hell bent on making life harder for everyone who follows on. That view is narrow, short sighted and poorly researched at best, just plain fucking stupid at worst.
Most landlords will not be too concerned about new healthy homes standards:
https://www.landlords.co.nz/article/976514398/revealed-healthy-homes-minimum-standards
But some may have relied on the rules that National brought in to give them some peace, relying on older standards to meet insulation standards. There has been some concern expressed that in some cases landlords will perhaps have to pull out just installed insulation and then replace it again, at quite some cost.
https://www.a1prop.co.nz/a1-property-managers-blog/how-will-the-healthy-homes-bill-affect-landlords/
https://www.radionz.co.nz/news/political/383292/new-rental-insulation-rules-will-make-it-harder-for-landlords-judith-collins
But so far no proof of that appears to have been provided.
Not all landlords are mean, so I can attest, and to blame a whole older generation for poor standards and selfish behaviour (charging high rents) does not make sens.
It tends to be the younger investors and non baby boomers who are less compassionate, as they want good returns quicker and easier, older landlords will often appreciate the circumstances of their tenants.
The truth is:
Boomers have over-paid for investment properties. Property values have moved away from metrics like rental yield.
After Boomers pay their rental’s mortgage payments, rates bill, water bill, body corporate fees, accountant’s bill and more – there is very little left over for repairs or frankly bringing these properties up to a livable standard.
New Zealand has a high percentage of interest only loans which suggests high levels of speculation and hardships.
The idea that renters should have to pay obscene rents to cover the Boomer’s poor financial decisions is farcical, though often a reality – almost an oxymoron.
Sorry Boomers, you’ve just paid too much for derelict properties and cheaply constructed shoe-boxes. Banks are also to blame here because they are financing this ridiculousness.
When investments go bad, you take it on the chin. Trying to socialise your losses and extort renters is hopefully going to become harder and harder.
Anecdotally; I’m a renter and have wonderful Boomer landlords, they have lowered my rent, forgiven some arrears and are even improving the Bathroom.
I think they paid mostly cash for this property, manage it themselves but most importantly, they didn’t over-pay for it and mortgage themselves up to the hilt.
I’m in Christchurch, would I like to pay less rent, YES, but what has been good about my current tenancy is that both my landlords and myself are on the same page .. communication is key.
I have a similar situation, even here in Auckland, as I am paying well below the market rent, due to my landlord being reasonable and appreciating also I look after the property rather well.
Troubles started only recently, when the owner got a real estate agent look after the property, and ‘manage’ it. I would say they rather ‘mismanage’ and milk the owners now, as they charge fees, do inspections every 3 months (which are not needed) and they act like bullies at times, clearly also trying to ‘convince’ the owner to hike up the rent. When things need repairing they take their time, and they have also stuffed up many things.
I won’t name the agent, but landlords should be well advised to better look after their properties themselves, and to have good relationships with their tenants, as the ‘middle men’ are mere robbers and BS artists trying to look and sound important.
They basically make a living at our taxpayer’s expense, as the owner can declare having a property manager as a cost, so does not have to pay for them, as it lowers their taxes against the property and rent incomes.
The agents, i.e. property managers, they make a living off the back of others, being BS artists and robbers.
It is the tenant in the end paying for those robbers.
+1 Marc, in spite of all the vitriol against landlords here, no a mention that letting agents are not even regulated or need to be registered!
Unlike tenancy tribunal and real estate tribunal for complaints there is nothing for aimed at complaints and awards against dodgy letting agents themselves as any tribunal awards are paid for by the landlord even if it is the behaviour of the letting agent is the issue!
This has created a culture of impunity of letting agents who are not registered and can do what they want.
You make good points SAVENZ +1.
“I am a Gentleman Xer.”
If you say so.
Before you hurl the vitriol, of course.
Is it about your generation’s parents? A small fraction of your generation’s parents?
You know, the ones you’d be championing – if only they were – younger…
The ones who faced massive social upheaval while trying to raise people such as yourself. Massive.
The ones who, by and large, did their banking at the Post Office because banks were for professional people and posh people.
The ones who, through no fault of their own (and precious few opportunities to learn) knew very little about investing, got ripped off by an assortment of spivs of many ages when they were encouraged to ‘invest’ with the sharks and lost millions that would never be repaid, nor recovered because time had run out for them. (10c in the dollar for the Bridgecorp victims dripped out over several years of lost opportunities to get their money to work again, if they were lucky.)
That money was usually the cushion provided by frugality while working. ‘One day we’ll take holidays and go overseas and out to dinner more than once a year. We’ll have enough. One day.’
And they had to do it that way because Muldoon wrecked the infant compulsory super scheme.
‘Gotta save for retirement! Need lots of dollars just to afford a scruffy room in a rest home. Help the kids. Etc.’
So they bought property. Became landlords. Got ripped off often. Weren’t hugely supported by a miserable tax system. Hoped they’d be able to cash up at a big enough profit to survive their ‘golden and anxious years.’
Instead of forever bitching and kvetching about ‘greedy boomers’ how would it be if you looked at the underlying issues. Calmly.
The penury inflicted by the ‘pension’. Less income than the adult minimum wage and no hope of increasing that. Genteel poverty. And many of those ‘boomers’ are renters because the gravy train didn’t stop at their station. Lots of boomers and older waiting for the Peace of Mind train, in fact.
The difficulty of keeping the greedy fingers of investment gurus and rentiers, banks and councils, and the medical profession and every other scammer around away from the financial cushions of seniors of all ages.
The totally inadequate options for people to hold money conservatively and make it work for them as well as all those happy indebteds who want to borrow more. Savers are absolutely hammered while the sweet young things enjoy interest rates in single digits.
Make it SAFE to diversify and get similar returns to property. WHY? Because there are fewer options and ways to recover after a financial disaster for a person who is 60 and beyond.
They might have extra houses so they won’t be a burden on their kids and grandkids.
You still have time on your side. And you can learn the dubious joys of being a landlod, if you want to be one.
Just remember, however, that not all landlords are boomers.
And wonder, for a little, who else might hold large portfolios – apart from agencies and companies. There’s bound to be a clutch of GenX and beyond who have seen the promised wealth dreams oif they can buy and hold and keep their losses under control. It’s the way things are in this country.
Isn’t it…
Until we change it for a better deal for many more.
PS. Yes. I have indeed been a union delegate. More than once. And I own but one house.
+100 ANDREA…well said!
….many of that so called “spiteful boomer” hippie generation ( brought up by socialist parents who went through the Depression and had it really tough )worked and worked and worked ….and saved and saved and saved in the NZ Post Office ….didnt go on overseas holidays…didnt buy fancy clothes or makeup or cars…bought their first house and maybe a second if they were lucky and supported their children through university
( these so called “spiteful boomers” have always voted Labour ( despite being scarred by neolib Roger )….and they formerly voted Greens and often NZF…)
…they are as confused and concerned as anyone else about what has happened to NZ housing
….and their children Gen Xers who have had everything handed to them on a plate …bitch and moan about not being able to afford NZ housing and blame this older “spiteful boomer” generation of NZers while they themselves are sipping cocktails on the Amsterdam canals…and partaking of all of lifes’ little hedonistic esoteric indulgences
…just love the woke Gen Xers…they are totally charming ….but have they seen and experienced the real world…of their New Zealand parents and grandparents?
Exactly. Thanks for speaking up on my behalf. This renting boomer who brought up 3 children alone, a lot of that time on the DPB, never had the chance of owning even one house, and then any retirement plans I aspired to were crushed when made redundant in 2008 at the age of 60 (try getting a job then along with hundreds of younger Kiwis applying for the same jobs). My landlord is a Gen X and a good man for which I am eternally grateful.
Is it just a case of “Spiteful Boomer Landlords”?
( it is convenient to blame it all on the New Zealand middle class…in the USA there is hardly a middle class left and most people live from pay day to pay day)
….How many of our houses are owned by wealthy overseas speculative landlords?
…Unfortunately because the National Government bungled or deliberately negated the last NZ nationwide Census we do not know how many NZ houses are owned by overseas owners
( one hears anecdotally of buy ups of 40 houses in an area in a single day by single overseas investors)
“…Unfortunately because the National Government bungled or deliberately negated the last NZ nationwide Census we do not know how many NZ houses are owned by overseas owners”
There have been a fair few immigrants who obtained Permanent Residence, and who brought some money into the country with them. They may come from various places, e.g. Australia, UK, China, India, USA and other places.
Overseas and foreign buyer does not cover these kinds of persons, of whom there are quite a few.
So governments get away with claiming they stop overseas buyers or there are not many of them, because they have already given them PR, so they are considered to be ‘New Zealanders’.
Others may use permanent residents to buy property here, e.g. their relatives who have PR, so they are also not covered by the statistics.
The tenor of articles like this is why we got the Natz in for nearly a decade and Labour got away with Rogernomics and why the Greens are dying as they tell people to delete themselves bro and think people are happy with the idea that a better future for the next generation is a bit more social welfare and getting legally high. God help anyone who thinks that saving for their future so they don’t like in poverty on the state and having a house that someone can rent from them in a major housing shortage!
I can’t quite work the logic out, if the government keep on with Kiwibuild and does not significantly increase state houses, the left idolise more people on welfare in poverty who need more cheap housing , they get rid of the landlords, I just don’t see who is going to provide the cheap houses???
If they are worried about the people with 20+ houses why not target them?
Don’t blame the people of NZ or sectors of people in NZ it just creates diversion from what has gone wrong in NZ, which is people scrambling around with insecure jobs, high costs of living and government policy around helping the world invest in NZ and take the profits with them!
The lefties are spreading as much disinformation and discrimination as the righties!
Then each group forms it’s own group think and viola, we now have all the political parties totally out of touch and then try to ‘reconnect’ with wokie reasoning or can’t analyse the statistics including the way statistics have been modified to hide the truth. AKA it only takes 2 -5 years to become a NZ citizen and be classified as a NZ citizen which masks the immigration situation and you only have to work 1 hour to be classified as employed. Together they can show how NZ are getting poorer and the only thing that actually made them a profit was their house! Of course that can’t happen, and that avenue taken away as well.
CGT is not a fair tax. It is really just a punishment tax that does nothing, it’s not going to schools or hospitals but tax cuts, in the usual fucked up Labour way to try to emulate the Natz with Natz lite policy. This government has added a lot of new taxes (Aucklander’s in particular have been hit by petrol taxes, bed taxes, rates rises and now some new developments have rates on rates for another 20 years)… but nobody is seeing much benefit. Labour seem desperate to gain more taxes but does not follow though, no new public transport has appeared in fact timelines have been put back for rail, increased OIA figures, immigration and work visas are high and now we have third parties bringing in 50 unemployed people at a time and charging them each $40k.
If the lefties were really keen on taxing all property they would advocate a tax on the actual capital not the gain and make it the same for everyone so you can’t hide it. But nope any fairness or sense goes nowhere as a lot of the lefties are whipped up by the MSM and leftie commentators and believe that somehow a CGT will impove their lives. Sadly if you rent it won’t.
Even worse Labour and Greens and commentators spent a decade trying to pitch to renters, got into parliament and then ditched them because Kiwibuild doesn’t provide significantly more state rentals – it’s doing the opposite privatising the land!
Pretty much no vitriol against that, but plenty against boomer landlords. Apparently the slum lords are ok as long as they meet the ‘diversity’ criteria for the wokies… good luck to renters, you are going to need it with your advocates not actually focused on getting cheap houses but instead trying to run the landlords out of town, replace them with business friendly accomodation like $1200 p/w hotels paid for by the tax payer.
Not the CGT will make housing shortages much greater!
There has been no CGT on houses but perhaps work out why it is only in the last decade there has been the housing shortages and price escalations which co inside with our third highest immigration levels and in real terms dropping wages?
Saw the same hysteria with unitary plan where if you look at the results have made the housing affordable situation in Auckland much worse. Still people keep pushing it.
Maybe like others normal folks can give up, and just leave the commentators to advocate for what is not working and not bother to analyse too hard what actually might create more rentals or less people needing affordable rentals which is what might eventually do something positive.
Yeah, nah. Back to wokie rants and be part of the problem of blame instead of actually working out what might get more rentals or tax fairly on gains, and it ain’t a CGT!
+100 SAVENZ….brilliant analysis as usual!
The Labour Coalition really needs to be listening to you
….they are going to lose the next General Election if they carry on with the advice of Cullen and co
Whilst it is true that blaming doesn’t fix the issue, quite literal rent seeking behavior is the issue, the power to pursue which, overwhelmingly resides in the boomer generation. (High wages free education low housing and living costs allowed capital accumulation).
Subsequent generations for the first time ever face declining living standards.
What’s wrong with “owning” the problem?
It’s no different to us pakeha owning the fact Maori got a raw deal when NZ was colonized by Europeans – it might not make you personally guilty but it should make you aware rather than defensive.
An incredible chorus of over defensive bleating going on here.
Of course everyone wants a fairer society they just don’t want to contribute to one.
https://m.youtube.com/watch?v=Iz-8CSa9xj8
I am not sure where this misguided propensity to label the effects of neoliberalism and influence at the door of ‘boomers’ comes from as the most cursory examination of the facts shows it for the total bullshit it is.
Boomers (those born from 1946-1963 or perhaps 64, some debate) account for around 15% of the population and the historical home ownership rate was around 70% so in effect the claim is that the neoliberal agenda that has held sway through almost 4 decades and 11 elections has been at the whim of around 10% of the population is a nonsense
This is Bomber’s blind spot.
Get it right:
It’s a class war not a inter-generational war.
Power to determine economic paradigms has oscillated over the past 150 years, sometimes (mostly) the wealthy call the shots sometimes the poorer masses.
Making your pain generational in its origin is petty, won’t change anything and is missing the mark.
+100
Martyn: “we have NZers literally freezing to death here…”
No, we don’t. Up in the mountains perhaps; not in housing. Nowhere in NZ gets cold enough for that.
You want to make a point about cold housing: fair enough. But don’t overstate your case.
We have family in parts of the world where it gets so cold that people do freeze to death. Though it tends to be out in the street or the countryside; even there, people don’t freeze to death in their houses, as a rule.
The issue with cold housing here is multifactorial: a tradition of poor insulation, no central heating and the price of energy. The latter issue impacts upon all of us to one extent or another, whether or not we’re boomers.
Nitpicking is what you do when you don’t have a good argument
Esoteric Pineapples: “Nitpicking is what you do when you don’t have a good argument.”
Indeed. Martyn, take note. Also the other commenters blaming boomers for all the ills of the housing market.
The actual picture is much more complicated and nuanced than some here want to accept.
According to Wikipedia birth years ranging from the early-to-mid 1960s to the early 1980s. That means John Key is your generation Martyn! As is the Graeme Fowler who owns 80 rentals. So not getting a house isn’t necessarily generational it’s to do with something else. If you turn it into your generation versus another generation Gen Y and the millennials will have the same fight with you.
+100
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