Overseas money from non-residents is driving up prices, all you need for a bidding war is 2 keen buyers i.e. one local and one from overseas with access to cheaper money and more of it and the local guy is stuffed. So the next auction he goes to, rinse and repeat.
The banks are loving it as more people commit themselves to increasingly higher mortgages where they cream the profit for a very long period.
Look at their profits which are at record levels.
The real estate industry love it as they are usually on a percentage basis for their profit. Note that as house prices have tracked at a vastly higher inflationary rate to that of the country as a whole their cut has gone up exponentially in dollar terms with little downward fall. If they charged a standard fee as a set sum it almost certainly not cost as much to sell a house. All it does is to encourage more people into an essentially non productive business.
To an extent the damage is already done. The fallout from this has the potential to stunt NZ’s growth for a generation as our nations youngest overpay for a house for the next 10-20 years, sending the money overseas to the banks.
Same deal for our farmers who are now finding that what goes up comes down.
The country is being bled white on a real estate ponzi scheme as our politicians, especially those in charge right now point the finger of blame whilst simultaneously sitting on their hands.
National were happy to jeer down any attempt at controlling the property speculation industry whilst seeking election it is now time for them to show some spine and sort it out. If we could afford to build state houses previously why not now? It had a successful outcome for Mr Key.
Encourage growth in the regions, improve public transport, admit that the Government can have a serious role to play in this mess. Something better than Nick Smith wandering around pointing at land he doesn’t own.
The money spent on the flag debate has a whiff of Nero fiddling while Rome burns.
Oh to be a fly on the wall at TV3.
Hunter S Thompson comes to mind,
" a cruel and shallow money trench through the heart of the journalism industry, a long plastic hallway where thieves and pimps run free and good men die like dogs, for no good reason".
Mark Weldon sitting in a plush chair muttering what the fuck to himself as Julie Christie stirs around out of her depth turning gold into shit. Usually the other way round for her.
Farce and tragedy with money being pissed up a wall.
They deserve all that they get. They went into this wide eyed with a ruthless attitude.
A pox on them and there ambitions whatever they in fact are.
As to the owners one wonders what is going through their minds at this moment, how much patience and money do they have?
Apologies for spleen vent.
I was at the Pt Chev ceremony and couldn’t figure out why most of the junior cadets were fainting and needing to be assisted to seating.
My daughter as the oldest guide in her troop laid a wreath at the Pt Chev ceremony.
She said that standing near the front in the sun it got quite stifling. Mind you she did manage to bear up.
My Wife and I have been twice now to the parade as parents of both a guide and a scout who are expected to go probably as a holdover from the military aspects of their organisations founding.
I am very conflicted in regard of this as I’d like to respect the soldiers who were in the NZ defence force yet I loathe the way that Anzac day has been resurrected as part of a poorly understood narrative of NZs role in the first world war and how it is turning it into a collective act of group think.
Gallipoli was a fuck up of epic proportions in a war of epic fuck ups.
No one should lose their job or be ostracised for criticising how it has been turned into a patriotic pissing contest.
If anything it is the best day for reviewing our political and military history to learn and apply lessons to our current position.
This needs to occur without shutting down other views that challenge the orthodox narrative.
For a while Anzac day was quietly fading away with lower and lower attendances.
This might be for the best and without the 100 year tag for next year can we just tie it into an act of appreciation for our past soldiers. None of them knew what they were getting involved in and the price they paid seems to be too low for the end result, which applies for all who fought on both sides in one of mans maddest moments.
Like we didn't already suspect it ...Dr. Dre’s Beats by Dre Cost An Estimated $14 To Make
Does this make all the cheap Asian ones good or bad value and are they the real thing?
They're everywhere over there.
Be handy around the Barbie. This term needs to be released into the wild.
I intend to call all of my mates a meathead messiah some time in the next week.
Getting the BBQ aprons printed asap.
Went to the Lorde show with my wife and a 12 and 14 year old and saw a lot of similar groups which reminded me of the last parent teacher meeting I went to. I always feel like an imposter at the parent teacher whatsits for some reason.
I do like her music but it didn't seem to be that danceable as from where I was sitting half way up at the rear [quite a good spot for viewing] I didn't see much dance action going down.
One of the first gigs I've been to where I didn't notice any weed being lit and where they probably sold more ice cream than beer!
Did our Mr Sweetman review her show or did his stay at home parent gig preclude that?
Thoroughly enjoyed the light show which probably blew my kids minds it being their first gig and all.
+ 1 for the bass being overdone.
Her fury was directed at Key: ‘‘If you are the person that is charged with telling me this then that says an awful lot about the person that should be doing it, and I am utterly disgusted.’’
She reminds me of Dolores Umbridge in Harry Potter, 'I must have order'.
Of course the punishment is for getting caught not necessarily her actions as I find it hard to believe other players in the National Party weren't aware of her methods and contacts.
Newton Central "The best little school in the world" this track really made my day thanks.
My children's old school, as they viewed the video and said that's room14 and there's Eleanor and there's Otis etc it made me feel very Kiwi.
As for Lorde have the Australians claimed her as one of their's yet? Stunning talent and come so far so fast so well.
One plus in regard of this unsavoury affair is that the methods the National Party have been employing has know been brought to light and with a bit of thought they can be countered.
With the two track smear strategy seemingly originating in the States I'm sure there are tactics that have been used to negate and even use it against those who employ it.
I think that when it was first announced that the Labour computer had been rifled through and data taken [illegally I think] they should have been proactively finding and bringing the perpetrators to justice instead of being made to look guilty for their [admittedly lax] security and issuing an apology.
The whole Dirty Politics story has not been stopped and if Labour wants to I think that they could use it as a means of showing up 'Team Key' and some of the loathsome individuals involved and the methods they've employed which should be confronted.
I still need convincing that “the issue cannot be dealt with through the normal machinery of Government or through the criminal or civil courts”
Well lets see, you think that the current Government will investigate with any real zeal [turkeys voting for Christmas] or the same for our police who I expect are dreading having to investigate senior figures in a position of considerable power when one of the issues is their maligning of public servants and a very popular PM saying that there's nothing to see here?
Surely an investigation headed by a Judge looking into all aspects of this saga with witnesses compelled to give evidence under oath must be what our Democracy requires to show that it takes such things seriously?
This whole matter is in regard of how a political party has been shown to probably have been subverting our Democratic system to it's own ends as there is some very compelling evidence to assume as much.
There is a cloud over this Government and all it's actions point to them not wanting to be held to account for their deeds.