Posts by Katharine Moody
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Crown prosecutor Catherine Gisler then asked the judge to jail van Gaalen for three years, saying deterrence was important.
The Whangarei community should boycott/picket the firm;
The system needs to be attacked from all sides.
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So now John Key agrees with the Labour finding that ethnic Chinese are driving up house prices in Auckland;
And those of us outside Auckland want to share in the wealth, apparently.
To my mind, never has a PM been so unrepresentative of New Zealanders.
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A real life tiny object :-).
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Manawatu sunset
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Kapiti sunset.
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Speaker: House prices and the "Magic Money", in reply to Steve Barnes,
It needn’t be offshore money, it could just be that the “Magic Money” is coming from those that made the “Big Bucks” since the 80’s on spiraling house price inflation, trading down to the cheap rural properties and buying an “apartment in town” for the kids,
This is the question - is this gap, this "magic money" (300/800 - roughly 37%, more than a third of our residential housing stock!) owned/purchased directly by people who live/work/earn/borrow and pay taxes offshore? If so, and the Reserve Bank knows it - then obviously the government knows it too - and neither are prepared to admit it to the people of New Zealand. If we did know it via this kind of statistical analysis - then why are we even talking about a foreign ownership register to find it out! The Government already knows but they are not telling us. What they are telling us is that they don't know and can't know because they don't have the right data, Which, if this analysis is on the money about the "magic money" - then our Government and the Reserve Bank are lying to us.
That to me is astounding. Doesn't that really, really upset anyone else?
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What I find most interesting/disturbing about this analysis is the fact that the "magic money" is also unaccounted for by other Reserve Bank transaction records. In other words, we often expect our politicians to pull the wool over ours eyes about such things - but when the Reserve Bank refuses to give a coherent explanation, well that's just really serious.
Makes me think, David, that you might want to send your analysis and workings to RBNZ as an OIA request for a 'please explain' this magic money. It's all their data after all.
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Speaker: House prices and the "Magic Money", in reply to Bart Janssen,
What bemuses me is that people seem weirdly resistant to that idea.
Yes, perplexing.
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Speaker: House prices and the "Magic Money", in reply to James Butler,
why would anyone who doesn’t want to live here want to invest in an asset whose value grows slower than wages?
Then there is also the opportunity of rental returns growing at a rate higher than wage growth, regardless of underlying asset valuation. This is in part what happened in the US in the fallout of the sub-prime crisis;
Wall Street entities bought up hoards of foreclosed houses;
http://www.zerohedge.com/news/2015-07-26/these-13-us-cities-rents-are-skyrocketing
