And what were you thinking when you thought of us? Share your thought with us instead of just dumping another YT clip on us. Put differently, if I change the embedded clip to a link, who would want to click on it and why?
….US officials said Wednesday that Putin is angry after being shielded from the truth.
Citing US intelligence, White House Communications Director Kate Bedingfield said "he felt misled by the Russian military."
A US official, speaking on condition of anonymity, described "persistent tension" between Putin and military staff, with Putin now having "mistrust" in his generals.
[As usual, your quotes are a mess. It appears you quoted from your own previous comment, but you changed the order and format of the text and didn’t use quotation marks or block quotes at all.
Unless it is something quite salient and succinct, you should simply link to your previous comment instead of another garbled copy & pasta.
To make it clearer, put the link beneath/below the quoted text, which I have done to show you what I mean plus I put the quote at the top in block quotes – Incognito]
Tom Fowdy has written another perceptive article. He's spot on that the western media has been hugely successful in framing the western intervention as merely that of a moral one, a line which plays to the self-proclaimed righteousness of the West and deceives the public under the facade of "good intent."
Navigating the minefield of 'atrocity propaganda'
"Atrocity propaganda" is a style of propaganda whereby one state demonizes another as being brutal and inhumane by making a number of accusations against the latter, usually on the premise of human rights abuses or the killing of civilians. Atrocity propaganda is conducted in both wartime and peacetime, and is used as a tool by government actors to set narratives against the opponent, build a respective debate and in turn "manufacture consent" for policies against them, which may include sanctions or war itself.
Focusing on the wartime dynamic, however, atrocity propaganda has been frequently used by the West in order to build support for interventions and regime changes, usually framing them as a humanitarian crisis premised on the need for "morale intervention" to save people. This has included wars in both Libya and Syria, which were framed as leaders slaughtering civilians.
Of course, the West's case of intervening was not presented in terms of obvious strategic or political interests, but merely that of a moral one, a line which plays to the self-proclaimed righteousness of the West and deceives the public under the facade of "good intent."
The binary notion of "good versus evil" has always been used to mislead people on causes and reality of various conflicts. In which case, those who are seeking a balanced assessment of this situation and its outbreak must be aware of what "atrocity propaganda" is and how the western narrative has abandoned any guise of objectivity or impartiality. The Ukraine conflict is not only one of the biggest wars that broke out in Europe since the end of World War II, but unprecedented in how it has opened up a new dimension in information warfare.
Right wingers from Italy and France to the USA distance themselves from the once admired strong-man V.P.
In a speech to GOP donors in New Orleans last Friday, former Vice President Mike Pence declared bluntly that “there is no room in this party for apologists for Putin.
Can I suggest that when you are talking about Vladimir Putin and former Vice-President Mike Pence in the same comment you spell out Putin's name?
I may be thick but when I read this I thought than when you said people were distancing themselves from "V.P." you meant Pence. The story of course didn't say any such thing but it took a while before the penny dropped and I realised what you meant.
I wish Pence had simply declared that there was no room for Trump directly rather than pussy-footing around
Have you even read the report or even the summary?
In July 2020, officials advised the Tourism Recovery Ministers that the economic context had changed so much that STAPP should be stopped or alternative The Tourism Recovery Ministers did not accept officials’ advice to stop STAPP or fund a small number of tourism businesses.
Instead of stopping they decided to dole out the money anyway and some businesses missed out, it seems. Luckily for them the NZ Herald allowed them their 5 minutes of grizzle and wallow in misery.
Read the report and you will find some answers there, which was the purpose of the report: ask questions, find answers, review and make recommendations. The report is there for anyone to read, so if you want to know, you’ll have to put some effort into it. For your convenience, I’ve already provided the link to website in my previous comment.
Report back here when you’re done, thanks. Until then you’re simply a biased parrot with a prejudice parroting a piece from the NZH.
"Ministers have broad discretion to make decisions. They can seek further advice from other parties and rely on their own knowledge of particular regions and tourism businesses when making decisions. However, all decisions to spend public money come with an obligation to ensure that the decision-making is consistent and transparent. We saw limited evidence explaining the reasons for the decisions. Without those records, those who have made the decisions are not able to adequately explain why funding was provided. In our view, this is not acceptable practice, regardless of the circumstances. To ensure that the public can be confident in the integrity of the decisions made, the reasons for this should be clearly explained and well documented."
Bad spending is bad spending regardless if the applicants met the criteria.
I have no idea why you quoted that particular piece of text, as it does not actually answer the question you asked @ 4.1.2.2.1 although there’s a hint of it. You’ll find some answers to that important question in the full report, trust me.
Bad spending is bad spending regardless if the applicants met the criteria.
That’s just nonsensical grizzle; the AG didn’t conclude that the spending was necessarily bad, but there were issues around the decision-making process, et cetera. Stop being a lazy dimwit and start doing some digging into the full report.
It is interesting that a report regarding sloppy process is now the political football du jour. It didn't take the self-entitled long to get into the fray. Aaron Russ of Heritage Expeditions made the most of his airplay time to do a fair amount of kicking. Looking at the prices his outfit charge, one wonders if the wealthy clients that they attract require their delicate arses to be wiped after loo-stops.
After much screaming from the tourism sector, the Government buckled to shut them up. One would have thought that 'saving the industry' to the tune of $290 million of taxpayer funding contributed by the low-paid should have meant the industry could make sure the funders got to enjoy NZ holidays that are usually out of financial reach.
In future, we should expect the Government to tell the fuckers to go to hell. If they can't survive under a capitalist structure, let them bleed.
Puzzles me why the Jessee MacKenzie types who do trolling of women in public roles and think it is ok to make derogatory comments about these women's appearance, when they themselves would never be able to make the grade in "gorgeousness".
Energy prices to go up from today,a large part of due to Government Policy changes with fixed charges increases for low users .Energy poverty will increase and the inflation component will have indirect costs increasing essentials such as food production,and health care.
The energy portfolio has been poorly managed,with regard to both energy security and pricing constraint.
After some discussion here regarding the failure of Kiwibuild, the existence of the Progress Home Ownership fund came to my attention and with it the First Home Partner shared ownership scheme:
First Home Partner is a shared ownership scheme to help aspiring first home buyers whose deposit and home loan aren’t quite enough to buy a home that meets their needs, purchase a home together with Kāinga Ora.
Administered through Kāinga Ora, this has seemingly existed since late-2019 and is a great way of helping people into housing security in a practical way. The eligibility criteria seem perfectly positioned to help a bunch different people struggling with financing, the maximum governmental share setting of 25% seem rational and fair, all round sensible policy it seems? The question is why is this not being promoted more widely? Why hasn’t the Government boasted of its successes?
Today [my italics], Kāinga Ora launched a new shared-ownership product, First Home Partner [my emphasis], through which Kāinga Ora will take an equity share in a property to assist first home buyers who can service a mortgage but need help raising their deposit.
“This phase of the PHO scheme provides additional financial support to households who don’t require the kind of intensive support to manage their finances as offered through the Provider pathway,” Megan Woods said.
Ah, that explains the lack of boasting thus far, the progressive home ownership fund was announced in late-2019 but thanks for the clarification, I’m still surprised that this hasn’t been picked up or promoted more widely. Had you or anyone else here previously heard of the scheme anywhere other than the government release? I think it’s a great idea, but are there any other issues I may be missing?
It sounds to me exactly the sort of programme that many around here would like to see but I’d be interested in what other commenters think of it and what shortcomings or hooks it may entail, I am also admittedly unfamiliar, I had neither seen nor heard the October announcement!
I am referring to the newer First Home Partner policy rather than the First Home Loan scheme. In the former there isn't a cap on house price, just a maximum of 25% or $200,000, which ever comes first. I can see that as being much more helpful than the price caps but I don't know how the banks would like it.
My bad. I misunderstood (all of these policy names are too similar!)
On the face of it, it looks like a good deal. You get 25% of the value, effectively interest free from KO – if you can afford the mortgage on the other 70% and have a 5% deposit (and the banks won't lend to you, if you can't).
However, banks are increasingly cagey about lending without a cast iron income guarantee, an immaculate savings records, and ability to pay around 10% interest (not that it's that high, yet, but that's what they're assessing at).
I'm also hearing whispers from friends-looking-to-buy – that they believe house prices are headed downwards (I'm a bit agnostic on this, myself – but wait and see). Which would particularly impact on this target group – bottom quartile of the housing market.
the problem with all these schemes is they support and perpetuate the inflated (asset) prices and encourage dangerous levels of debt….and I may add are ultimately inflationary.
It will affect the "investor class" first,as they find they are unable to harvest more rent.
The increase in housing inventory in AK and WGN and weeks to sell are reasonable predictors of the rush to the exits,and there will be some elasticity in some areas as the Holiday home (aka airb nb) becomes unsustainable as Councils start enforcing the RMA requirements and commercial rates for short term rentals.
Only the blind over leveraged investors….it will hit a lot of recent first home buyers and SMEs that are required to leverage property for working capital (and more recently running costs)….and then the real pain will begin.
The negative possibilities dont make for pleasant thoughts.
Yeah, there's a lot of first home buyers who are one pay-cheque away from defaulting on their mortgage.
Most have fixed for 3 years ATM – but that period rolls around awfully quickly.
Although the banks have been testing at capacity to pay 7% interest for the last few years, and are now (i understand) testing at capacity to pay 10% interest.
So, if you've owned for a couple of years, and are prepared to weather the price dip (and the fact you may be paying more for your house than it's 'worth') – then you can ride it out; absent, of course, any personal disasters (relationship breakdown is the one that usually triggers a sale).
Sady for renters, the Tenancy Tribunal will absolutely recognize increased mortgage rates as a legitimate reason for a rent increase. So it's more whether we have actually reached the maximum that the rental market will bear….
the markets are pricing in inflation,it is not a given that it needs to happen.with say construction clearly over priced,large delays,price uncertainty's going forward,it would make sense for say councils to defer non essential work,and governments to trim a little fat off the consultant side,
This is not austerity it is common sense,if the capital investment does not enhance efficiency (ie become more sustainable) or the maintenance cost is less then its replacement,leave it.
The markets are pricing in 'short term' inflation…..that should be pause for thought.
Having said that, it dosnt require a yield curve inversion (or a series of) to realise that even before the most recent price spikes the NZ housing market was a bubble looking for a pin
It should be,they are pricing higher rates at shorter terms,where the inversion is seen to price in Recessions ( the so called 2-10)
It still does not have to be,it only happens when governments are responders and not predictors.
Both central and local government need to start thinking what is best at the moment,whilst we have the three horseman around (war,pestilence,and famine) BAU from the past is not going to happen,we need to start making the best of what we have.
Id suggest we needed to do that a decade or two ago…..and see no way of avoiding the inevitable now….we will have plenty of time to make the best of what we have (left) after the event.
Nicola Willis offered a spirited version of the bad apple defence for the young Nat guys caught harrassing left-wing female politicians ((Link here)
She wasn't asked directly about: why the bad apples were attracted to National in the first place; or whether they became bad apples only after joining; or why, in either case, they weren't detected and set on a path of correction (or exit) earlier.
These are the only questions that really matter, and the bad apple defence is an organisational staple that we can discount as formulaic PR.
A bad apple is generally understood to refer to someone who creates problems for other people, and whose actions or behaviors negatively influence the larger group. The phrase is often interpreted erroneously by implying that a bad apple is not representative of the whole, when in fact the term stems from the larger phrase "one bad apple can spoil the barrel," which suggests that the negativity is not an isolated incident.
What to think of this – so wrong on a number of points? Follow the lemmings. Investment along the same inadequate lines of the past in commodity trees – all will be vulnerable to some species specific pest. Come in to the Cabaret, we're open for business, good floor show, everything for sale.
Overseas Invessstment Office! has size 20 pants for a size 10 outfit; plenty of wiggle room with outside pockets for stowing useful items like Swiss Army knives with 30 gajits able to deal with any how-do-you-do that arises.
Went to Waikanae and back to Wellington via Transmission Gully. Very very impressed with the engineering feats and smoothness of the journey. The design is superb. Very well signposted and seamless links to off roads. Despite the cost overruns and delays this is an amazing asset for Wellington entry and exit. Some of the delays were not helped by Covid, weather, and Kaikoura earthquake.
All those traffic hold ups for years through the old SH1 and winding round Pauatahanui – those roads will now be secondary routes, which is all they are capable of.
Gerard Otto suggests he may have some paper work to catch up on. I thought Chris was a a man "that gets things done."
From Gerard facebook :
"Thursday Morning Coffee
Imagine my horror to discover that Sir John's man Luxon was lagging way behind the clock and had not completed the performance review of his MPs on time.
Just like Luxon's wife Amanda said – he never gets things done and leaves all his domestic projects unfinished. "
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New Zealand’s housing crisis is a sad indictment on the failures of right wing neoliberalism, and the National Party, under Chris Luxon’s shaky leadership, is trying to simply ignore it. The numbers don’t lie: Census data from 2023 revealed 112,496 Kiwis were severely housing deprived...couch-surfing, car-sleeping, or roughing it on ...
The podcast above of the weekly ‘Hoon’ webinar for paying subscribers on Thursday night features co-hosts & talking about the week’s news with regular and special guests, including: on a global survey of over 3,000 economists and scientists showing a significant divide in views on green growth; and ...
Te Pāti Māori are appalled by Cabinet's decision to agree to 15 recommendations to the Early Childhood Education (ECE) sector following the regulatory review by the Ministry of Regulation. We emphasise the need to prioritise tamariki Māori in Early Childhood Education, conducted by education experts- not economists. “Our mokopuna deserve ...
The Government must support Northland hapū who have resorted to rakes and buckets to try to control a devastating invasive seaweed that threatens the local economy and environment. ...
New Zealand First has today introduced a Member’s Bill that would ensure the biological definition of a woman and man are defined in law. “This is not about being anti-anyone or anti-anything. This is about ensuring we as a country focus on the facts of biology and protect the ...
After stonewalling requests for information on boot camps, the Government has now offered up a blog post right before Easter weekend rather than provide clarity on the pilot. ...
More people could be harmed if Minister for Mental Health Matt Doocey does not guarantee to protect patients and workers as the Police withdraw from supporting mental health call outs. ...
The Green Party recognises the extension of visa allowances for our Pacific whānau as a step in the right direction but continues to call for a Pacific Visa Waiver. ...
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Today, Te Pāti Māori join the motu in celebration as the Treaty Principles Bill is voted down at its second reading. “From the beginning, this Bill was never welcome in this House,” said Te Pāti Māori Co-Leader, Rawiri Waititi. “Our response to the first reading was one of protest: protesting ...
The Green Party is proud to have voted down the Coalition Government’s Treaty Principles Bill, an archaic piece of legislation that sought to attack the nation’s founding agreement. ...
A Member’s Bill in the name of Green Party MP Julie Anne Genter which aims to stop coal mining, the Crown Minerals (Prohibition of Mining) Amendment Bill, has been pulled from Parliament’s ‘biscuit tin’ today. ...
Labour MP Kieran McAnulty’s Members Bill to make the law simpler and fairer for businesses operating on Easter, Anzac and Christmas Days has passed its first reading after a conscience vote in Parliament. ...
Nicola Willis continues to sit on her hands amid a global economic crisis, leaving the Reserve Bank to act for New Zealanders who are worried about their jobs, mortgages, and KiwiSaver. ...
By Susana Suisuiki, RNZ Pacific presenter The doors of St Peter’s Basilica in the Vatican have now been closed and the coffin sealed, ahead of preparations for tonight’s funeral of Pope Francis. The Vatican says a quarter of a million people have paid respects to Pope Francis in the last ...
By Susana Suisuiki, RNZ Pacific presenter The doors of St Peter’s Basilica in the Vatican have now been closed and the coffin sealed, ahead of preparations for tonight’s funeral of Pope Francis. The Vatican says a quarter of a million people have paid respects to Pope Francis in the last ...
Once or twice a week, Dr Margaret Henley rolls up the door on a windowless storage locker in central Auckland, pulls her plastic chair up to a picnic table and sifts through the history of netball in New Zealand.She works alongside netball archivist and statistician Todd Miller, together trawling through ...
Corin DannThe time is 7:36am on Wednesday, April 23, and you’re listening to Morning Report, New Zealand’s voice of the educated left on good incomes. I’m joined now by acting Prime Minister Winston Peters. Good morning Mr Peters.Winston PetersIt was, until I saw you. I much prefer your brother.Corin DannLiam ...
When Professor David Krofcheck got an email congratulating him on winning the Oscar of the science world, he dismissed it as a hoax.“I thought it was a scam, I thought it was a phishing email,” recalls Krofcheck, nuclear physicist at Auckland University.“Yeah right, I’ve won the 2025 Breakthrough Prize in ...
Madeleine Chapman reflects on the week that was.I’ve been re-watching Girls lately, the HBO classic that perfectly captures millennial women in the most painful way. I highly recommend it especially if you haven’t watched it before. Every character on the show is deeply flawed and frustrating in their own ...
With the double-header long weekend comes a welcome chance to escape streaming slop, writes Alex Casey. Over Easter I texted my husband Joe a sentence that perhaps nobody in human history has ever texted: “hurry up geostorm is starting”. No punctuation, no capitalisation, not because I was trying to ...
April 27 is Moehanga Day, the anniversary of the day in 1806 when Ngāpuhi warrior Moehanga became the first Māori to visit England. This is his story. The wooden ship sailed down the River Thames, past smoke stacks and brick factories, until it reached a wharf in industrial south London. ...
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A citizens’ assembly of 100 Porirua locals has provided the city council with more than a dozen recommendations about how to tackle climate change and make sure the region is resilient to worsening extreme weather events.Ranging from expanding access to renewable energy and incentivising the planting of native trees through ...
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Loading…(function(i,s,o,g,r,a,m){var ql=document.querySelectorAll('A[data-quiz],DIV[data-quiz]'); if(ql){if(ql.length){for(var k=0;k<ql.length;k++){ql[k].id='quiz-embed-'+k;ql[k].href="javascript:var i=document.getElementById('quiz-embed-"+k+"');try{qz.startQuiz(i)}catch(e){i.start=1;i.style.cursor='wait';i.style.opacity='0.5'};void(0);"}}};i['QP']=r;i[r]=i[r]||function(){(i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o),m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m)})(window,document,'script','https://take.quiz-maker.com/3012/CDN/quiz-embed-v1.js','qp');Got a good quiz question?Send Newsroom your questions.The post Newsroom daily quiz, Friday 25 April appeared first on Newsroom. ...
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Thought of you…
And what were you thinking when you thought of us? Share your thought with us instead of just dumping another YT clip on us. Put differently, if I change the embedded clip to a link, who would want to click on it and why?
.
Quos Deus vult perdere, prius dementat
Jenny how to get there
30 March 2022 at 8:03 am
[deleted]
Jenny how to get there
30 March 2022 at 8:03 am
[As usual, your quotes are a mess. It appears you quoted from your own previous comment, but you changed the order and format of the text and didn’t use quotation marks or block quotes at all.
Unless it is something quite salient and succinct, you should simply link to your previous comment instead of another garbled copy & pasta.
To make it clearer, put the link beneath/below the quoted text, which I have done to show you what I mean plus I put the quote at the top in block quotes – Incognito]
Mod note
Tom Fowdy has written another perceptive article. He's spot on that the western media has been hugely successful in framing the western intervention as merely that of a moral one, a line which plays to the self-proclaimed righteousness of the West and deceives the public under the facade of "good intent."
Navigating the minefield of 'atrocity propaganda'
https://news.cgtn.com/news/2022-03-31/Navigating-the-minefield-of-atrocity-propaganda–18QlyuSlyqQ/index.html
Bloody funny and pretty apt.
That reply to Adrian's YT video
Right wingers from Italy and France to the USA distance themselves from the once admired strong-man V.P.
https://www.wsj.com/articles/putins-groupies-walk-back-tucker-carlson-donald-trump-steve-bannon-viktor-orban-josh-hawley-11646770018
Can I suggest that when you are talking about Vladimir Putin and former Vice-President Mike Pence in the same comment you spell out Putin's name?
I may be thick but when I read this I thought than when you said people were distancing themselves from "V.P." you meant Pence. The story of course didn't say any such thing but it took a while before the penny dropped and I realised what you meant.
I wish Pence had simply declared that there was no room for Trump directly rather than pussy-footing around
Adrian @1
What an idiot. A typical social media air head.
This little clip does nothing for your views but they interest me anyway.
Another Example of this Govt Covid response.
There really are some inept numpties within Labour. But don't worry it's only tax payers money.
https://www.nzherald.co.nz/nz/tourism-businesses-furious-government-reportedly-picked-favourites-for-290m-fund/QEB5LBIKHGYJJOEHRPB4RUZHLA/
Businesses weeping because they weren't first in the queue. Give me a break.
This government has directly and indirectly supported business on a per capital bases more than any other in the OECD.
Time for the remaining tourism businesses to make a go of it, or push the state's bottle of warm milk away and do something else.
How will co-governance look?
https://www.stuff.co.nz/environment/300535889/pest-control-efforts-in-te-urewera-have-changed–some-conservationists-worry-about-the-fate-of-native-species
Well it sure won't look like the Te Uruwera settlement.
Have you actually read the article?
The auditor general tears the Govt a new one.
You may get a minor reshuffle inside MBIE, but that's all it deserves.
Complaining about an allocation process in response to 3conomic crisis? Please. It would need direct $$ corruption to have any damage.
Have you even read the report or even the summary?
https://oag.parliament.nz/2022/stapp/docs/summary-strategic-tourism.pdf
https://oag.parliament.nz/2022/stapp
Instead of stopping they decided to dole out the money anyway and some businesses missed out, it seems. Luckily for them the NZ Herald allowed them their 5 minutes of grizzle and wallow in misery.
My question is why did they dole out the money anyway when officials told then not to?
Read the report and you will find some answers there, which was the purpose of the report: ask questions, find answers, review and make recommendations. The report is there for anyone to read, so if you want to know, you’ll have to put some effort into it. For your convenience, I’ve already provided the link to website in my previous comment.
Report back here when you’re done, thanks. Until then you’re simply a biased parrot with a prejudice parroting a piece from the NZH.
Thank you for the Link
From the report
"Ministers have broad discretion to make decisions. They can seek further advice from other parties and rely on their own knowledge of particular regions and tourism businesses when making decisions. However, all decisions to spend public money come with an obligation to ensure that the decision-making is consistent and transparent. We saw limited evidence explaining the reasons for the decisions. Without those records, those who have made the decisions are not able to adequately explain why funding was provided. In our view, this is not acceptable practice, regardless of the circumstances. To ensure that the public can be confident in the integrity of the decisions made, the reasons for this should be clearly explained and well documented."
Bad spending is bad spending regardless if the applicants met the criteria.
I have no idea why you quoted that particular piece of text, as it does not actually answer the question you asked @ 4.1.2.2.1 although there’s a hint of it. You’ll find some answers to that important question in the full report, trust me.
That’s just nonsensical grizzle; the AG didn’t conclude that the spending was necessarily bad, but there were issues around the decision-making process, et cetera. Stop being a lazy dimwit and start doing some digging into the full report.
Where's the evidence that it's bad spending?
Did people on the funded tourism companies keep their jobs? Yes
Did the funded tourism businesses stay in business? Yes
Did the funding go to tourism businesses? Yes
Did the mortgages and rent of those workers who kept their jobs get paid? Yes
Yes they did.
The objectives of the fund were achieved.
At very most the A-G report will require a smack for some errant bureaucrat. The fund will close since it's time is up.
Job done.
You seem confused about who tells whom what to do in that relationship.
It is interesting that a report regarding sloppy process is now the political football du jour. It didn't take the self-entitled long to get into the fray. Aaron Russ of Heritage Expeditions made the most of his airplay time to do a fair amount of kicking. Looking at the prices his outfit charge, one wonders if the wealthy clients that they attract require their delicate arses to be wiped after loo-stops.
After much screaming from the tourism sector, the Government buckled to shut them up. One would have thought that 'saving the industry' to the tune of $290 million of taxpayer funding contributed by the low-paid should have meant the industry could make sure the funders got to enjoy NZ holidays that are usually out of financial reach.
In future, we should expect the Government to tell the fuckers to go to hell. If they can't survive under a capitalist structure, let them bleed.
Russian joke:
Why do Russian vehicles in the Ukraine use a "Z" on them?
Because a contractor stole the other arm of the swastika.
Energy prices to go up from today,a large part of due to Government Policy changes with fixed charges increases for low users .Energy poverty will increase and the inflation component will have indirect costs increasing essentials such as food production,and health care.
The energy portfolio has been poorly managed,with regard to both energy security and pricing constraint.
https://www.stuff.co.nz/business/128235367/price-of-power-to-rise-up-to-1000-a-year-for-some-households-consumer-nz-warns
After some discussion here regarding the failure of Kiwibuild, the existence of the Progress Home Ownership fund came to my attention and with it the First Home Partner shared ownership scheme:
Administered through Kāinga Ora, this has seemingly existed since late-2019 and is a great way of helping people into housing security in a practical way. The eligibility criteria seem perfectly positioned to help a bunch different people struggling with financing, the maximum governmental share setting of 25% seem rational and fair, all round sensible policy it seems? The question is why is this not being promoted more widely? Why hasn’t the Government boasted of its successes?
5 Oct 2021:
https://www.beehive.govt.nz/release/more-progressive-home-ownership-opportunities-first-home-buyers
Ah, that explains the lack of boasting thus far, the progressive home ownership fund was announced in late-2019 but thanks for the clarification, I’m still surprised that this hasn’t been picked up or promoted more widely. Had you or anyone else here previously heard of the scheme anywhere other than the government release? I think it’s a great idea, but are there any other issues I may be missing?
Sorry, I’m not very familiar with this.
It sounds to me exactly the sort of programme that many around here would like to see but I’d be interested in what other commenters think of it and what shortcomings or hooks it may entail, I am also admittedly unfamiliar, I had neither seen nor heard the October announcement!
The criticism has mostly been that in many (most) parts of the country, it's impossible to actually find a home which is cheap enough to qualify.
500K is the max allowed. And, 'do ups' don't qualify either (which actually seems insane – 'sweat equity' is one of the great levellers…..)
https://www.newsroom.co.nz/governments-first-home-loan-scheme-totally-redundant
I am referring to the newer First Home Partner policy rather than the First Home Loan scheme. In the former there isn't a cap on house price, just a maximum of 25% or $200,000, which ever comes first. I can see that as being much more helpful than the price caps but I don't know how the banks would like it.
My bad. I misunderstood (all of these policy names are too similar!)
On the face of it, it looks like a good deal. You get 25% of the value, effectively interest free from KO – if you can afford the mortgage on the other 70% and have a 5% deposit (and the banks won't lend to you, if you can't).
However, banks are increasingly cagey about lending without a cast iron income guarantee, an immaculate savings records, and ability to pay around 10% interest (not that it's that high, yet, but that's what they're assessing at).
I'm also hearing whispers from friends-looking-to-buy – that they believe house prices are headed downwards (I'm a bit agnostic on this, myself – but wait and see). Which would particularly impact on this target group – bottom quartile of the housing market.
the problem with all these schemes is they support and perpetuate the inflated (asset) prices and encourage dangerous levels of debt….and I may add are ultimately inflationary.
markets are already pricing the OCR and subsequent mortgage rates.
https://twitter.com/biancoresearch/status/1508640362721538051?cxt=HHwWhsCrndaa4u8pAAAA
Nz markets are now pricing in over a 50 point OCR increase at next Monetary policy meeting.
https://www.rbnz.govt.nz/statistics/b2
Housing will become cheaper over next 12 months.
yes it will….and all that comes with that.
It will affect the "investor class" first,as they find they are unable to harvest more rent.
The increase in housing inventory in AK and WGN and weeks to sell are reasonable predictors of the rush to the exits,and there will be some elasticity in some areas as the Holiday home (aka airb nb) becomes unsustainable as Councils start enforcing the RMA requirements and commercial rates for short term rentals.
Only the blind over leveraged investors….it will hit a lot of recent first home buyers and SMEs that are required to leverage property for working capital (and more recently running costs)….and then the real pain will begin.
The negative possibilities dont make for pleasant thoughts.
Yeah, there's a lot of first home buyers who are one pay-cheque away from defaulting on their mortgage.
Most have fixed for 3 years ATM – but that period rolls around awfully quickly.
Although the banks have been testing at capacity to pay 7% interest for the last few years, and are now (i understand) testing at capacity to pay 10% interest.
So, if you've owned for a couple of years, and are prepared to weather the price dip (and the fact you may be paying more for your house than it's 'worth') – then you can ride it out; absent, of course, any personal disasters (relationship breakdown is the one that usually triggers a sale).
Sady for renters, the Tenancy Tribunal will absolutely recognize increased mortgage rates as a legitimate reason for a rent increase. So it's more whether we have actually reached the maximum that the rental market will bear….
'Weathering' isnt an option when outgoings exceed incomings
the markets are pricing in inflation,it is not a given that it needs to happen.with say construction clearly over priced,large delays,price uncertainty's going forward,it would make sense for say councils to defer non essential work,and governments to trim a little fat off the consultant side,
This is not austerity it is common sense,if the capital investment does not enhance efficiency (ie become more sustainable) or the maintenance cost is less then its replacement,leave it.
The markets are pricing in 'short term' inflation…..that should be pause for thought.
Having said that, it dosnt require a yield curve inversion (or a series of) to realise that even before the most recent price spikes the NZ housing market was a bubble looking for a pin
It should be,they are pricing higher rates at shorter terms,where the inversion is seen to price in Recessions ( the so called 2-10)
It still does not have to be,it only happens when governments are responders and not predictors.
Both central and local government need to start thinking what is best at the moment,whilst we have the three horseman around (war,pestilence,and famine) BAU from the past is not going to happen,we need to start making the best of what we have.
Id suggest we needed to do that a decade or two ago…..and see no way of avoiding the inevitable now….we will have plenty of time to make the best of what we have (left) after the event.
Nicola Willis offered a spirited version of the bad apple defence for the young Nat guys caught harrassing left-wing female politicians ((Link here)
She wasn't asked directly about: why the bad apples were attracted to National in the first place; or whether they became bad apples only after joining; or why, in either case, they weren't detected and set on a path of correction (or exit) earlier.
These are the only questions that really matter, and the bad apple defence is an organisational staple that we can discount as formulaic PR.
The bad apple defence is also based on selective editing of the original idiom. the full context of which negates the defence!
What to think of this – so wrong on a number of points? Follow the lemmings. Investment along the same inadequate lines of the past in commodity trees – all will be vulnerable to some species specific pest. Come in to the Cabaret, we're open for business, good floor show, everything for sale.
https://www.rnz.co.nz/news/country/464428/overseas-investment-office-approves-austrian-aristocrat-s-farm-purchase-for-forestry-conversion
Overseas Invessstment Office! has size 20 pants for a size 10 outfit; plenty of wiggle room with outside pockets for stowing useful items like Swiss Army knives with 30 gajits able to deal with any how-do-you-do that arises.
Finally a judge that hands out a decent sentence.
Man jailed after breaking into 19 cafes, restaurants at end of Covid lockdown | Stuff.co.nz
Went to Waikanae and back to Wellington via Transmission Gully. Very very impressed with the engineering feats and smoothness of the journey. The design is superb. Very well signposted and seamless links to off roads. Despite the cost overruns and delays this is an amazing asset for Wellington entry and exit. Some of the delays were not helped by Covid, weather, and Kaikoura earthquake.
All those traffic hold ups for years through the old SH1 and winding round Pauatahanui – those roads will now be secondary routes, which is all they are capable of.
Chris Luxon hasn't been seen or heard since Tuesday I think. Is the poor chap OK?
Gerard Otto suggests he may have some paper work to catch up on. I thought Chris was a a man "that gets things done."
From Gerard facebook :
"Thursday Morning Coffee
Imagine my horror to discover that Sir John's man Luxon was lagging way behind the clock and had not completed the performance review of his MPs on time.
Just like Luxon's wife Amanda said – he never gets things done and leaves all his domestic projects unfinished. "
He's been trying to stop laughing after this happened. I understand even some Labour MP's had a chuckle.
Luxfusion's got a bit on his plate at the moment
Had to chuckle at this April Fools NewstalkZB headline.