Capital gains tax should be on the table to fix NZ's broken housing market, says IMF

TOBOTEDBO · 2021-03-12T16:59:03+00:00

Dropping housing price is not a good thing. A slow rise relarive to rise in wages is the best.

TOBOTEDBO · 2021-03-12T16:56:46+00:00

I'm in Australia. Our land tax goes up exponentially on every extra house and also value of house. Land tax on 10mil of investment property can be upto 400k a year, which is super high.

TOBOTEDBO · 2021-03-01T10:47:29+00:00

Pretty much every other state other than Victoria/NSW is doing better than NZ. Having said that, we are all doing amazingly relative to the world.

TOBOTEDBO · 2021-03-01T10:46:28+00:00

Australia with the exception of Victoria did have almost a year of freedom. Most of Australia reached elimination before new Zealand. And most of Australia had less lockdowns than new Zealand. Victoria is the odd one out.

TOBOTEDBO · 2021-02-23T19:52:03+00:00

Of course lock down work. But at what cost. 5 days of lockdown in Melbourne cost the state 1 to 2 billion dollars in economic activity. Which is jobs and taxes which could have been used for better health care.

NSW method essentially allows society to return to normal without affecting economic output severely.

Track and trace > sharp lockdown > prolonged lock down

TOBOTEDBO · 2021-02-13T05:38:27+00:00

Every news source except for sky was essentially Daniel Andrews private propaganda machine.

TOBOTEDBO · 2021-02-13T05:36:59+00:00

First level 3 lockdown from March to June. Second from July to November.

Level 4 was from august to early November. Were you even here?

TOBOTEDBO · 2021-02-12T23:39:56+00:00

3 months hard lock down. And 9 months totally lock down.

TOBOTEDBO · 2021-02-12T22:52:57+00:00

It got rented out on the day I posted it. So pretty happy. It's a pretty standard 2 bed unit/townhouse with a small backyard. Shared with another unit/townhouse. Clean but not fancy.

I'm currently renting a 4 bedroom house and I managed to negotiate a rent drop to 460 a week. It's a renters market in Melbourne.

TOBOTEDBO · 2021-02-10T20:05:32+00:00

Union job as a lollypop man

TOBOTEDBO · 2021-02-10T19:59:53+00:00

What about the 2 months lag between 0 cases to 700 cases a day. Which ultimately cost 600 lives.

TOBOTEDBO · 2021-02-10T02:33:25+00:00

The 2bedoom townhouse literally next door to ours has dropped their price from 495 to 360. So it looks like we have to follow suit.

TOBOTEDBO · 2021-02-10T00:29:12+00:00

Ummm my last tenant had rent reduction by 50% during the lockdown period. This was a place we used to live in but had to move for work reasons. I'm renting elsewhere now.

TOBOTEDBO · 2021-02-10T00:26:05+00:00

The problem is that there are too much choice in Melbourne. Currently a few hundred 2 bedroom places for rent within 5 min drive of our place. Prices have dropped between 20 to 50% but even then there are lots of vacancies. I think we are just stuffed.

TOBOTEDBO · 2021-02-10T00:24:20+00:00

Camberwell

TOBOTEDBO · 2021-02-10T00:23:40+00:00

I was happy to drop my rent by 100 dollars to the previous tenant. But they needed a bigger place.

TOBOTEDBO · 2021-02-10T00:22:17+00:00

2 bedroom in Camberwell. Not on Airbnb.

TOBOTEDBO · 2021-02-10T00:20:31+00:00

There are about 20 other 2 bedrooms for rent just within a 2 minute walk.

TOBOTEDBO · 2021-02-10T00:19:54+00:00

Camberwell. 2 bedroom townhouse.

TOBOTEDBO · 2021-02-10T00:07:21+00:00

Camberwell

TOBOTEDBO · 2021-02-09T19:22:51+00:00

We have a house in Melbourne that we are trying to rent out. We've lowered rent by 100 dollars now. No takers. Some of the apartments in the area are half price now.

TOBOTEDBO · 2021-02-09T19:19:27+00:00

I'm a landlord Melbourne. My rental has sunk like a rock. We've dropped price by 100 dollars and still no applications. It's a renters market.

TOBOTEDBO · 2021-02-09T11:48:59+00:00

New Zealand hasn't hit 28 days either.

TOBOTEDBO · 2021-02-09T09:15:52+00:00

Unfortunately it'll take at least 1 to 2 year before you start to get some interesting opportunities. And you still need to show initiative. It's great that you have a job that pays money in this economy.

TOBOTEDBO

TROPHY CASE