No Minister

Posts Tagged ‘Auckland Housing

The Bitcoin House

with 6 comments

Read an interesting article today on the news out of the USA that some 30% of men are not employed in that nation.

What was unusual about the article was that it decided to ignore the usual angle of exploring why this is the case, instead focusing on how all these millions of American men actually live without a job.

One section looked at investments and aside from a doubling in retail stock market investment accounts there was also this:

Now crypto. You can laugh all you want, but the simple fact is that the price of bitcoin is up from $4,861 on March 12, 2000 to $47,763 today, or basically up 10X, (and remember it even hit $64,888.99 this spring).

Hmmmm. That’s an annual increase of 11.49% per year over twenty one years. Not bad.

The other day I checked out what our house is worth and was shocked and appalled to find out how much it’s increased in value in just the last year.

I’ve known for some years now how crazy things have been with NZ housing. I’ve been saying for a decade that this could not go on. Yet it has and although I thought I knew how crazy it has become I was still under-estimating the insanity.

Moreover when I ran the numbers over time I saw that our “investment” in house has increased by 11% per year on average for twenty years.

Written by Tom Hunter

September 19, 2021 at 5:23 pm

More Insanity for your delight

Well you may not be delighted at the first item, especially if you have kids looking for a house in New Zealand.

I’ve removed the name of the real estate company as I see no reason to give them free advertising after they dropped this through our mailbox the other day.

A 71% increase above the CV. Obviously the house and other structures on the site are worth nothing.

This is not a flash area, even by the moderate standards of Glenn Innes in Auckland, yet this is what’s happening even there. They’re also quite open about land banking and development, as if things like the “brightline test” and no longer being able to deduct expenses as a renter just don’t amount to a speed bump.

That’s because these are companies with teams of lawyers and accountants, and there is no limit to how “money” can be shuffled around to avoid the prescriptive revenge of Leftist governments.

Friends of ours, a Russian immigrant family we met twenty years ago when they landed in NZ at the same time we did, lived in this very street until last year and after years of scrimping and penny pinching, did well enough out of this insanity to be able to buy a section not far away and build a new house. Given the racism from their neighbours that they had to put up with for years they were glad to go.

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The second item is something we all try to avoid, getting tangled up in government bureaucracy – and death.

Many years ago I laughed at one of the crazy stories from the book Catch 22. One of the characters, Doc Daneeka, is gaming extra income by getting flight pay via signing up to fly on standard shakedown flights of bombers that have been repaired. A quick flight around the base and it’s all good, but Daneeka doesn’t even want to do that and the pilots let it slide. Then one of these bomber flights – with his name on the roster – crashes into a nearby mountain in full view of the base. “Poor Doc Daneeka” says one man, even as the Doc, standing beside him, is saying, “but I’m right here”. He ends up living in a ripped up tent on the edge of the base, stealing food wherever he can. Even the amoral capitalist genius of Milo Minderbinder and the evil bureaucratic genius of PFC Wintergreen, cannot resurrect him. It gets to the point that people ignore him when he speaks to them. He also just vanishes from the story eventually, his true fate unknown.

Meet the modern French version of the Doc, Jeanne Pouchain, and marvel at real-life insanity.

‘They said I don’t exist. But I am here’ – one woman’s battle to prove she isn’t dead.

The letter informed her that a lawyer in a court case relating to her cleaning business had told the court that she had died, aged 53, in February 2016. Somehow, this unverified claim – there was no official death certificate, how could there be? – was allowed to go unchecked and unchallenged.

The thing that really gets me is that a relatively minor court could let this happen, but somehow higher courts and supposed authorities can’t seem to reverse the process:

Several courts, including the Cour de Cassation, the highest in the French judicial system, have examined the case and conceded there appeared to be “irregularities”, but deemed it was beyond their competence to bring Pouchain back from the dead. So who can? Pouchain’s local MP’s office tells me they have taken up her case. The MP, Valéria Faure-Muntian, told Pouchain she has spoken to the justice minister, Éric Dupond-Moretti, who is a member of the French bar and will keep a close eye on the case.

Aside from frozen bank accounts and not being able to access the French healthcare system, there’s also ordinary things like not having a passport and a driver’s licence, which crimp your lifestyle to say they least, although when I read this bit …

Then [the gendarme] looked on the central database and he said, ‘I wouldn’t drive if I were you, because you don’t exist. You don’t have a licence.’”

Ok. So what happens if they arrest her for that? Or for anything really? How can you charge a dead person with a crime, convict them and send them to jail? Perhaps she should have tried getting the system to fight itself to a resolution.

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The last concerns the hopeless story creation in Hollywood in the last twenty years, with a seemingly endless line of re-boots, sequels and super-hero movies being made – and starting to sag in box-office returns.

Somebody on social media decided to spark some ideas using merely the photos of two actresses.

Written by Tom Hunter

July 11, 2021 at 4:00 pm

Phil Twyford, BA

Phil Twyford’s profile page on the Labour Party website contains this:

After studying politics at Auckland University, Phil worked as a journalist and union organiser before becoming the founding Executive Director of Oxfam New Zealand.

I presume, although I cannot find confirmation anywhere, that he graduated from Auckland University with a BA.

So going forward, I will address him as Phil Twyford, BA.

The BA stands for Bullshit Artist.

Written by Nick K

May 12, 2018 at 3:16 am

Posted in New Zealand

Tagged with ,

HDH

Adolf visited Auckland for a few days last week to attend the funeral of his last surviving uncle who reached the age of ninety.

Before I departed, I was taken for an early morning drive through Hobsonville, Whenuapai and Kumeu to see some examples of high density housing (HDH) and the scope of land about to be opened for subdivision.   There doesn’t appear to be any shortage of land for housing.  Just a shortage of roads to carry all the extra cars.

However I’m bloody glad I don’t live there.  Stacked one against each other for mile after mile, they’ll be slums in thirty years’ time.

I wonder how they’d go in a fire.  You’d smell the stink of roasting pork from twenty miles away.

Written by adolffinkensen

March 21, 2018 at 6:05 am

Posted in New Zealand

Tagged with

All Good Things Come To Those Who Wait

Chinese buyers are pulling out of Sydney’s residential real estate market.

Why is this so?

The Chinese gummint has introduced tough restriction on the mount of money its citizens can send out of China, that’s why.

(Paywall)

The unthinkable has started to happen. The mass of Chinese property buyers who snapped up Australian apartments “off the plan” on the basis of a 10 per cent deposit have started to walk away from their agreements in Sydney……

………On the one hand Chinese are rescinding but they are being replaced by other investors of Asian origin plus Australian investors.
Yesterday, I detailed how the Chinese government was really clamping down on money leaving the country for real estate investment and this is the reason for the Chinese turning their backs on their Australian contracts — the local banks will not help and the investors can’t get their money out of China. The same problem is affecting real estate markets in North America (Real estate rattled as Chinese capital flows ebb, August 3).

Poor old Phil Twyford.  Falls flat on his arse, yet again.

So maybe now we can forget the myth of Chinese buyers pushing the Auckland market and get on with booting out the real cause, Auckland Council.

BTW the problem of journalistic illiteracy  infects The Australian as well as lesser newspapers.
In this case the writer talks of buyers ‘rescinding on their contracts.’  Unbelievable!

You either renege on a contract or you rescind the contract but you don’t rescind on a contract

Written by adolffinkensen

August 4, 2016 at 12:34 am

Posted in New Zealand

Tagged with

LABOUR DUMPS ON LABOUR

Not sure I get this.   The ‘nice’ Mr Little said that “Government support for the (Unitary) plan’s housing provisions showed it was more out of touch than anyone expected”.

Last time I looked Auckland was ‘privileged’ to have a Labour Mayor along with ‘Left’ aligned Council.

Seems to me Labour is putting the boot into its own people in accusing them of getting it wrong.   One is entitled to ask if Labour thinks it’s own people are failing Auckland then what chance a bunch of Chardonnay Socialists from Wellington getting it right … answer – ‘fat’.

Written by The Veteran

August 3, 2016 at 2:13 am