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Housing Crisis. What housing crisis?

Discussion in 'Off-Topic' started by Zardnaar, Aug 5, 2020.

  1. EnglishEdward

    EnglishEdward Deity

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    It is political suicide if it merely taxes people on inflation, but not having
    some form of mansion/wealth tax may be worse in the long term.
     
  2. Zardnaar

    Zardnaar Deity

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    If they brought it in there's a good chance they get voted out. Then it gets repealed anyway.

    However recent developments put greens+labour on 60-65% support so if they keep that up they gave a stronger mandate.

    Right wingers screwed the pooch.
     
  3. EnglishEdward

    EnglishEdward Deity

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    So when is the next election?
     
  4. warpus

    warpus In pork I trust

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    That's why you need to reach out to experts in whatever related fields to have them propose several plans for you. Then you pick out the most viable plan politically and/or propose the plans to the electorate and have them decide. Nobody is going to be an expert in everything, you need to pull in people who know what they're doing
     
  5. Birdjaguar

    Birdjaguar Hanafubuki Retired Moderator Supporter

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    Yes you need experts, but good planning is still very rare. most people do not know how to write a good plan. They put words and pictures on paper and call it a plan. Very narrow projects (build a building, upgrade your systems) are much easier to plan because the outcomes are very specific and usually of limited scope.
     
  6. warpus

    warpus In pork I trust

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    Our leaders know how to put together a military invasion very well. Every single potential contingency is studied. Every single potential point of failure has backup plans in place. Everything is coodrinated to an extreme degree.

    So okay, it's not our leaders doing that, it's the military and intelligence experts they've put in charge. Just need the same level of competence and willingness to act when it comes to other plans..
     
    Birdjaguar likes this.
  7. Zardnaar

    Zardnaar Deity

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    Next month.

    Last election labour had to campaign on no new taxes and they didn't have the numbers for a CGT.
     
  8. hobbsyoyo

    hobbsyoyo Deity

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    I had sort of half thought that the US housing market would deflate as a result of covid-caused evictions but what's actually happening is the rich people are sweeping in to buy up all assets on discount which has in turn reversed any discounts.
     
  9. Birdjaguar

    Birdjaguar Hanafubuki Retired Moderator Supporter

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    In Albuquerque the demand for houses is up but few are selling so supply is tight and prices going up a bit.
     
  10. Zardnaar

    Zardnaar Deity

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    Won't really sell until they have to.

    Which probably requires people with mortages to lose jobs en masse.
     
    Last edited: Aug 8, 2020
  11. Birdjaguar

    Birdjaguar Hanafubuki Retired Moderator Supporter

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    Huh? I do not know what this is trying to say.
     
  12. Zardnaar

    Zardnaar Deity

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    Fixed.
     
  13. Birdjaguar

    Birdjaguar Hanafubuki Retired Moderator Supporter

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    Could be be that folks are just not interested in selling/moving now. Why/how would the lack of supply in the housing market cause people with mortgages to lose their jobs?
     
  14. Zardnaar

    Zardnaar Deity

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    If they have mortages and lose their jobs they might have to sell/downsize.

    If that happens to enough people prices should go down.
     
  15. EnglishEdward

    EnglishEdward Deity

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    Quite so.

    That was indeed the established conventional wisdom that applied prior to
    the panic measures introduced after the 2008 financial crisis.

    But now I would say, that won't happen while there is plenty of private capital to buy
    those houses and then rent them to former, or priced out would be, owners.

    The provision of enormous capital to the corporates and already ultra wealthy,
    already unnecessarily enriched by tax cuts, created by the central banks combined
    with ultra low interest rates that occurs in much of the anglo-saxon world nowadays,
    laughingly to supposedly protect the economy, has prevented proper market working.

    One of the consequences of Covid 19 and its incentivisation of home working is that
    I would expect house price inflation in rural areas to outstrip that in densely packed cities.
    Dunno re NZ, but there are already some signs of this occurring in the United Kingdom.
     
  16. Zardnaar

    Zardnaar Deity

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    House prices were expected to fall 10%. Hasn't happened yet.

    Harder to get loans though.
     
  17. Cutlass

    Cutlass The Man Who Wasn't There.

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    Lack of new housing construction is pretty much always boiled down to restrictions put in place by people who are pursuing their own self interest at the expense of others, and using government to do it. Zoning and related regulations are a major part of that. All the other problems can be overcome.
     
    cardgame and hobbsyoyo like this.

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