Quick rant thread.

[gjm 3258]

Not a rant, just puzzled/confused/discombobulated...

I've just seen a used E30 Mtech kit - just the kit, no car - being offered on TM for $3k.

E30 prices have gone a bit silly lately, but this seems a step too far. To me.

[Driftit 2078]

It is most likely we will come back to NZ in a few years. Only because the family is all there and we don't have a green card.

Wellington or just North over the hill will be our choice. No way will we return to Auckland. I will become a bloody farm hand before I go back there.

[Gaz 1059]

People complaining about house prices.

I purchased a house on a single income last year amist some of the highest growth Christchurch has seen . I'd say slightly more than average not like I earn massive amounts. Surely a couple sharing expenses and saving should be able to do the same.

[nick496 268]

Not a rant, just puzzled/confused/discombobulated...

I've just seen a used E30 Mtech kit - just the kit, no car - being offered on TM for $3k.

E30 prices have gone a bit silly lately, but this seems a step too far. To me.

Getting pricy these days for the genuine kit.

I'm prepared to pay 2k for one, but that's just me.

E30 pricing is all over the show.

[KwS 2424]

People complaining about house prices.

I purchased a house on a single income last year amist some of the highest growth Christchurch has seen . I'd say slightly more than average not like I earn massive amounts. Surely a couple sharing expenses and saving should be able to do the same.

Christchurch =/= Wellington

If you want a 3 bedroom house, with a big garage, in a decent outer suburb, be prepared to pay through the nose for it. We werent able to compete even with a sizable deposit and looking at houses for $400k. They all sold for thousands over asking/rv and someone prepared to take the risk of unconditional would snipe it out from under you. A couple of years ago we would've been fine, but now its gone to hell. I'd take the CHCH market any day.

[Driftit 2078]

People complaining about house prices.

I purchased a house on a single income last year amist some of the highest growth Christchurch has seen . I'd say slightly more than average not like I earn massive amounts. Surely a couple sharing expenses and saving should be able to do the same.

I don't know many young couples who have $80K-$160K sitting around for a deposit. Unless their parents are helping them.

Auckland and Wellington are totally different to the rest of the country.

[huff3r 347]

I don't know many young couples who have $80K-$160K sitting around for a deposit. Unless their parents are helping them.

Auckland and Wellington are totally different to the rest of the country.

Exactly. So pick a job you can do in the rest of the country. I mean this for young people who are in the position where a career change won't be too detrimental. Yeah Auckland salaries are good, but that doesn't mean disposable income is.

If people aren't willing to make choices in order to be able to better afford housing, then they aren't really in a position to complain.

[gjm 3258]

It'll be interesting to see how things pan out in the Auckland market. Recently, the rate of price rise outstripped the rest of the country but even that has slowed. Regardless, a very ordinary house in the Auckland area now costs $800000. That's 3 beds, 1 bath, a garage if you're lucky, and maybe 600sqm of land.

Never mind 1st time buyers... How many people can raise $200k equity from the sale of their house in order to find the deposit?

I earn reasonable money but have no chance of buying here. We'll move, but not (as I've said) until Miss M has completed school - I suppose we could move, but it could be so devastatingly detrimental to her and her education that we'll not do it. Unfortunately by then I'll be lucky if I have enough working life left to pay a mortgage off!

On the upside, she's keen on Waikato Uni and wants to stay there during the week. I can look for work almost anywhere.

[Gaz 1059]

Christchurch =/= Wellington

If you want a 3 bedroom house, with a big garage, in a decent outer suburb, be prepared to pay through the nose for it. We werent able to compete even with a sizable deposit and looking at houses for $400k. They all sold for thousands over asking/rv and someone prepared to take the risk of unconditional would snipe it out from under you. A couple of years ago we would've been fine, but now its gone to hell. I'd take the CHCH market any day.

A house like is well out of any first home buyers so don't buy it. Do you need 3 bedrooms and a big garage? I paid 330k for a 2 bedroom place, single garage, ok but up and coming suburb which has less of what I want but all of what I need.

I don't know many young couples who have $80K-$160K sitting around for a deposit. Unless their parents are helping them.

Auckland and Wellington are totally different to the rest of the country.

After 5 years I had 30k Kiwisaver, 5k kick start and 15k savings. If you are a couple that is 100k or 20% of a 500k house. Maybe I lucked out. I agree that the process and stories I hear, if true, are not favourable but I still believe housing for a majority of couples, should be affordable.

[M3AN 4016]

I paid 330k for a 2 bedroom place, single garage, ok but up and coming suburb which has less of what I want but all of what I need.

That's a 600k house in Auckland I'm afraid. It's exactly what I'm in and that's on a subdivided section.

[M3AN 4016]

What other big ideas have you got mate? There must be some real good stuff going on upstairs with gems like that

They may be brash but they're quite good ideas for addressing growth which is the problem here. I'm sure there are others. We don't have the infrastructure in Auckland to support current population levels and we can't build enough infrastructure to catch up with demand let alone surpass it. Ever.

Auckland doesn't have a housing crisis, it has a population crisis and more houses aren't going to fix Auckland's problems they're going to exacerbate it.

If you don't like my ideas then proffer some viable alternatives that are economically viable? It's easy to be a critic.

[polley 916]

f**k Auckland. I'm buying out in the middle of nowhere, with no one to bother me.

[richard 384]

well what do I say as I look at 3 years of forward work coming , prices may plateau out but don't hold your breath.

those of you waiting for the big drop HAHAHAHAHAHA.

[polley 916]

Land prices will only ever go up, it'll have it's up and downs, but in the long run it will go up.

[_ethrty-Andy_ 2132]

The hardest part about home ownership is the saving of the initial deposit, having to pay rent AND save for it is very hard. once you are in, it is cheaper than renting if you put it over 30 years, or better is to put it over 10 years and pay down same amount you were paying in rent and saving.

We all know the baby boomers had it good. thats the past, can't go back there. so anything relating to that is moot.

However what is still relevant: its very easy to whinge and complain about why one can't get something. These people won't buy their first home until they are in their 40s, then put it over 30 years and still be paying a mortgage on the pension. Not my idea of a life.

My opinion is the best time to save for a house deposit is when you finish high school, still live at home (no or little rent to pay) and work full time. Unfortunately, currently the education system is setup that Uni is the only way forward after leaving school. this sets people up for failure, and you know that yourself, everyone has read the most successful people in monetary terms never went to uni. sure, you can go to uni and come out the other side with a 6 figure job, reality is in most industries you don't get those jobs until you are in your 30s at least (see buying a home at 40 above)

Do you really need that flash car, the sky TV connection and the holiday to the islands every year?

Nice things to have, but being mortgage free in your mid 30s is much better.

[Gaz 1059]

That's a 600k house in Auckland I'm afraid. It's exactly what I'm in and that's on a subdivided section.

Doesnt that prove my point? 2 incomes, you can afford twice as much?

[_ethrty-Andy_ 2132]

Doesnt that prove my point? 2 incomes, you can afford twice as much?

arguably more than twice.

[kiwi535 538]

bloody loud motorbikes car and trucks.esp open pipe big twins

[Breaker 980]

Interislander is so bloody slow, whatever happened to the fast ferries, killed off by the bloody save the whales, bring em back I say

And they have the worst web speed in living history, like dial up, waste of time, better to jump your phone.

And then you wait for like 40 min to get off the bloody thing when it arrives, and the Blue Bridge is bugger all better.

Rant over.

[qube 3570]

We don't have the infrastructure in Auckland to support current population levels and we can't build enough infrastructure to catch up with demand let alone surpass it. Ever.

Auckland doesn't have a housing crisis, it has a population crisis and more houses aren't going to fix Auckland's problems they're going to exacerbate it.

truth

[kiwi535 538]

Interislander is so bloody slow, whatever happened to the fast ferries, killed off by the bloody save the whales, bring em back I say

And they have the worst web speed in living history, like dial up, waste of time, better to jump your phone.

And then you wait for like 40 min to get off the bloody thing when it arrives, and the Blue Bridge is bugger all better.

Rant over.

one of the bluebridge ones is slower still/I dont mind it,its a good way for me to signal the beginning or end of a holiday

[M3AN 4016]

Doesnt that prove my point? 2 incomes, you can afford twice as much?

I'm not sure I understand?

All I meant was that a house that costs you 300k elsewhere might cost you 600k in Auckland.

[kulgan 1042]

I'm not sure I understand?

All I meant was that a house that costs you 300k elsewhere might cost you 600k in Auckland.

Or in Wanganui a house that cost $175 will cost you 300 elsewhere and 600 in Auckland. Go figure..lol

[Neal 540]

The hardest part about home ownership is the saving of the initial deposit, having to pay rent AND save for it is very hard. once you are in, it is cheaper than renting if you put it over 30 years, or better is to put it over 10 years and pay down same amount you were paying in rent and saving.

We all know the baby boomers had it good. thats the past, can't go back there. so anything relating to that is moot.

However what is still relevant: its very easy to whinge and complain about why one can't get something. These people won't buy their first home until they are in their 40s, then put it over 30 years and still be paying a mortgage on the pension. Not my idea of a life.

My opinion is the best time to save for a house deposit is when you finish high school, still live at home (no or little rent to pay) and work full time. Unfortunately, currently the education system is setup that Uni is the only way forward after leaving school. this sets people up for failure, and you know that yourself, everyone has read the most successful people in monetary terms never went to uni. sure, you can go to uni and come out the other side with a 6 figure job, reality is in most industries you don't get those jobs until you are in your 30s at least (see buying a home at 40 above)

Do you really need that flash car, the sky TV connection and the holiday to the islands every year?

Nice things to have, but being mortgage free in your mid 30s is much better.

I remember peanut butter sandwich lunches and 60km commuting two up a 250cc motorcycle to save money.4 years.Not owning a TV for 5 years, no going out unless birthday or similar. Wife did degree over 10 years in evenings and weekends. I did whatever overtime I could and pushed myself at work.I Had the same e30 for 15 years /330,000kms. First house paid off in late 30s.

Apart from the Auckland market I tend to smile at people b$tching and moaning about getting into the housing market yet will have $1k cellphones , $40-60k tied up in a cars and spend a few hundred on a Friday entertaining themselves.

It's a matter of choices and some hard work.

[Olaf 3314]

Exactly. So pick a job you can do in the rest of the country. I mean this for young people who are in the position where a career change won't be too detrimental. Yeah Auckland salaries are good, but that doesn't mean disposable income is.

If people aren't willing to make choices in order to be able to better afford housing, then they aren't really in a position to complain.

it's an interesting point you make. In my case, the work I do is all centred around Enterprise ICT. There's nothing of sufficient scale elsewhere in the country. I even considered a move to CHC about 10 years ago, it seemed attractive and a nice choice for single-income with wife at home and young kids; decent house, garage, and access to the mountains, bush, rivers. However, the limited scope if the job disappeared (restructure/redundancy) presented a higher risk which did not overcome the lower housing cost and lifestyle options. This pretty much locks us in to Wellington or Auckland, where housing costs are higher but opportunity for me is greater.

If I understand your argument correctly, there's an option of choosing cheaper housing and aim lower job-wise, rather than complaining about high housing costs in the centres. I bought into that, choosing Wellington over Sydney! I determined I'd not be able to pay off a Sydney mortgage before retirement, in a broadly equivalent suburb compared to Wellington, despite enjoying the greater employment and lifestyle opportunity Sydney offers. I'd move to Coffs Harbour NSW in a heartbeat if I could get steady work there. Still, I'm happy walking to work in Wellington, living with a sea view, strapped to the side of a hill getting blown 40 b@stards in each storm. #8 )

In summary: I suggest there's a continuum between risk (job opportunities) and reward (earnings potential), where house prices vary from left to right on the scale for a given location.