Hard News by Russell Brown

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Hard News: Harkanwal Singh: What really happened with those Chinese-sounding-names

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  • Sam Bradford,

    I'm pissed off both that Labour did such a crude and amateur job, and that in doing so they let National off the hook for not bothering to collect the data properly. I also get pissed off that any reservations about foreign ownership get written off as xenophobia by my fellow leftists, who don't have the data either. It's a bit like how certain folk will immediately label any criticism of the Israeli state as being motivated by anti-Semitism. So yes, kudos to anyone who can actually shed light on the issue with a clear head.
    (I don't doubt that this ridiculous bubble has mostly been caused by locals, but I'll be quite surprised if foreign capital hasn't made it worse.)

    New Zealand • Since Jul 2014 • 30 posts Report Reply

  • mpledger, in reply to WH,

    Actually the older cohorts aren't that well placed either... if they live in Auckland.
    See this analysis by Thomas Lumley on Stats Chat
    https://www.statschat.org.nz/2016/02/24/home-ownership-comparisons/

    Basically...
    home ownership flattens off from 45 in Auckland (first lot of graphs).

    In the third lot of graphs, after about 45ish people in Auckland in the same age cohort are less likely to own a home as they grow older i.e. the lines are sloping down in the first plot of the third lot of graphs, a little but not much for the rest of NZ.

    Since Oct 2012 • 83 posts Report Reply

  • WH,

    Great stats – thanks for the link.

    Since Nov 2006 • 727 posts Report Reply

  • Jim Cathcart, in reply to David Hood,

    Care to reference your methodology and data sources? I'm not really sure what you're claiming here. All mortgage lending is not "balanced" against house price values. Furthermore, we know that a mortgage comprises a deposit and a mortgage loan. The former is "saved into existence", while the latter is "lent into existence." The former is likely to be a product of one's labor, while the latter represents an asset to the bank by the creation of a contractual obligation (there is no corresponding deposit).

    Since Nov 2006 • 225 posts Report Reply

  • David Hood,

    Code
    https://gist.github.com/thoughtfulbloke/fe616c3470ac46e8ee61452105824d34

    Sources:

    Amount spent on houses-
    The value of new housing stock which is not part of the previous property cycle of buying and selling. Via data from Aaron Schiff @aschiff on Twitter in early August

    Amount borrowed to spend on houses-
    Reserve bank's records of monthly amounts of lending to housing by banks and other institutions

    Dunedin • Since May 2007 • 1443 posts Report Reply

  • nzlemming, in reply to David Hood,

    you forgot:

    mic drop

    Waikanae • Since Nov 2006 • 2818 posts Report Reply

  • Jim Cathcart, in reply to David Hood,

    OK, I think I got it. Where I got confused is when you seemed to be saying that there is a disconnect between mortgage borrowing and the total value of housing stock, but that's not what you're saying at all.

    Since Nov 2006 • 225 posts Report Reply

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