web analytics

Stay on the treadmill suckers!

Written By: - Date published: 10:53 am, April 12th, 2017 - 32 comments
Categories: housing, national, useless - Tags: , , , ,

The truth is out – Young house hunters should just give up

Nats would rather we all stayed on the treadmill – Government says Auckland houses are affordable, keep saving

The Government is sticking to its guns: there is no housing crisis and young Aucklanders looking to buy just need to keep saving.

In parliament today Social Housing Minister Amy Adams stopped short of warning millennials off flat whites and smashed avocado toast – but only just.

Adams and the National Government refuse to admit we have a crisis. They refuse to admit housing has exacerbated inequality under their watch.

The list of things that these muppets can’t afford to admit is a long one.

32 comments on “Stay on the treadmill suckers! ”

  1. We are all expecting far too much from this govt, goodness gracious !!!

    Back in the good old days our ancestors slept whole family’s in tents and quickly slapped up ponga huts while burning and slashing our forests down to make way for sheep and dairy for the Motherland and masts for the Aussies out of Kauris.

    This younger generation needs to harden up !

    * Nat govt partially solves housing crisis by introducing subsidy’s and tenure on approved slightly leaky , second hand tents.

    • BM 2.1

      I’ve heard from a few people that banks are ringing up customers with no mortgages or who own properties that have increased in value and offering money to purchase second properties.

      I wonder if they’re desperately trying to keep the market inflated.

      • bwaghorn 2.1.1

        no just getting some more clients, if they play their cards right they can get 50 to 60 years out of the boobs , what with reverse mortgages becoming the rage for the boomers now.

      • Greg 2.1.2

        I got call from the bank as well trying get enough to tale out a loan they know who got homes from there records there quite pushy as well they trying to give me a credit card as well they don’t seem to understand no thank you

      • Antoine 2.1.3

        Probably just trying to sell some low risk home loans eh

  2. AB 3

    If the young buy a house in the current inflated market and they intend to pay it off with earned income from actual work, they are choosing a lifetime of debt-serfdom.
    If they have a swag of inherited cash or equity, they can leverage themselves, join the speculator-class who have created this mess, and pay it off from unearned capital gain and rents. This is how wealth gets concentrated in the hands of the few.

    So apart from the few with the inherited cash, their choices are debt-serfdom or revolt. Or apathy I guess. The only serious political party with the guts to say that prices need to come down is the Greens. Labour know it – but don’t want to scare the horses. Voting accordingly would be a good place to start.

    • Greg 3.1

      The repayment times are far to long and in an environment of. Precarious,work the chance of default are very high the sums being borrowed are not sustainable on a nz wage its all going end in tears for a lot . Bankers will win either way

      • Lara 3.1.1

        Not necessarily. Enough defaults and the bank faces bankruptcy.

        It happened plenty after the 2008 crisis. It’ll happen again.

        • Duncan 3.1.1.1

          Check out the open bank resolution rules. In summary, Bill English has ensured depositors will bear the brunt. The banks are safe.

          • Antoine 3.1.1.1.1

            Thats just not correct. Both depositors and shareholders can lose out.

            A.

            • mauī 3.1.1.1.1.1

              That’s right the depositors also known as shareholders are treated as unsecured creditors with the bank.

              • Antoine

                I’m talking about shareholders, the owners of the bank, not depositors. They can take a haircut too.

                • Duncan

                  Shareholders may lose money but that is not a hair cut. Shareholders win and lose every day. If a company goes bust how does that become shareholders are taking a hair cut to save the company.
                  Furthermore, show me where it says shares will be transferred to depositors or the government in exchange for guaranteed deposits.
                  The depositors and government are baling out shareholders and unless you can show where it says shareholders lose their investment your statement is incorrect.

                  • Antoine

                    Fer gawd’s sake
                    Read point 4 of the ‘OBR Made Simple’ fact-sheet

                    • Duncan

                      Yeah very good but have you actually thought this through.
                      How are shareholders going to incur a loss unless their shares are transferred. Think about the implications of point 4 and think who owns the shares.
                      Don’t just regurgitate some information point that has not been fully thought through.

                    • Antoine

                      You gotta follow the process through to the end right? The OBR process ends with the bank being liquidated, onsold or restructured. The owners are out of pocket. It’s not during OBR that they take their loss, though, but after.

                      A.

                    • Duncan []

                      You aee being disingenuous here and ignoring the fact the point of the OBR is to keep the bank open.
                      And you seem to be ignorant of the fact once a bank is subject to OBR deposits are guaranteed by the government and so rational investors will move their funds from other banks to the now safe bank.
                      As I pointed out before losing the value of your shares is not a hair cut so if you can’t move past this please don’t waste both your aand my time.

                    • Antoine

                      The point of the OBR is to keep the bank open, only up to some kind of resolution, quite probably liquidation. At which point the shares would be valueless. If that doesnt count as a haircut I really dont know what does.

                      Or recapitalisation, which means the owners throwing in lots of money, ditto.

                      (And you’re saying new deposits will come under the guarantee? That doesnt sound right. I would think existing deposits only.)

                      A.

  3. Siobhan 4

    Neither Labour or National are wanting to end ‘The Market’…and its accompanying treadmill.
    The prospect of a life style and retirement subsidised by Capital Gains (and landlordism) is the modern definition of the ‘Kiwi Dream’.

    To say its ‘home ownership’ is mainly for the sake of having a secure place to live, like our Grandparents had, is a naive proposition. A ‘home owner’ who doesn’t bang on about their house value is a rare beast these days.

    If a $500.000 affordable house, in an unfettered market place..is in anyway going to put an end to this carry on I’ll..eat my hat..or whatever…

    • Draco T Bastard 4.1

      Neither Labour or National are wanting to end ‘The Market’…and its accompanying treadmill.

      QFT

      In fact, I’d say that neither see other way for the world to be which is why neither can fix the ills brought about by the present sociopathic system.

      To say its ‘home ownership’ is mainly for the sake of having a secure place to live, like our Grandparents had, is a naive proposition.

      It’s also false.

      Yes, a home-owner is more secure than a renter because of the power of the landlord but the government can kick them out if they so choose as the people of Avondale found out when National decided that doing so was cheaper than a slightly longer tunnel. Thing is, from everything that I’ve seen, it’s actually fear of the government that has people going on about the security of ownership but that just comes down to rules and regulations not an inherent security.

      We could have just as secure rentals – if we put in place the right rules and regulations. They’d be even more secure and cheaper if those rentals were state owned.

      • WILD KATIPO 4.1.1

        ” We could have just as secure rentals – if we put in place the right rules and regulations. They’d be even more secure and cheaper if those rentals were state owned.”

        In a nutshell.

  4. Carolyn_nth 5

    And they are also ignoring the impact on people who cannot afford to rent.

    A callous, inhumane government. i don’t know how they sleep at night.

    • Oh they do , and quite soundly. And it certainly isn’t in a garage or a car or even under a bridge.

    • Draco T Bastard 5.2

      A callous, inhumane government. i don’t know how they sleep at night.

      Psychopaths really don’t have a problem with being callous or inhumane and thus sleep very soundly.

  5. Philj 6

    It’s not the governments fault! They aren’t responsible. Lol. It’s the banks, who are largely Ozzy owned. The PM is happy with that, so long as they pay there taxes. Finally the people are starting to wake up that they are trapped in a system that the government is unable to fix. Voting just encourages more of the same. Fundamental change is coming, ready or not, and the puppet government will not be leading the way.

    • Draco T Bastard 6.1

      It’s the banks, who are largely Ozzy owned. The PM is happy with that, so long as they pay there taxes.

      Oh, he’s quite happy if they don’t pay any taxes either.

  6. rhinocrates 7

    The Four Yorkshiremen sketch needs an update.

  7. repateet 8

    Yep, that’s it, stay on the treadmill. Just move over a bit on the Auckland one , I’ve got another 30,000 odd joining you.

  8. ropata 9

    I just wandered past Bayleys HQ at lunchtime today (in the rain), there was an auction in progress for an average looking place in Ponsonby, 2.1 million

  9. AsleepWhileWalking 10

    I’ve said it before and I’ll say it again. Short of inheriting either the house itself or the blunt to buy it with the lottery is the best option those not in the market have.

    Putting money in Kiwisaver is going to end badly as soon as the market crashes through the floor which should happen soon. If you had the option of going to cash it might be different, but it’s not.

    The trend of homelessness in Auckland is clear and unabating and is gradually creeping over the nation.

    Speaking of treadmill, I heard something about a gym experiencing a sudden power outage. Result was a mass treadmill faceplant.

Recent Comments

Recent Posts

  • Significant global progress made under Christchurch Call
    A stocktake undertaken by France and New Zealand shows significant global progress under the Christchurch Call towards its goal to eliminate terrorist and violent extremist content online.  The findings of the report released today reinforce the importance of a multi-stakeholder approach, with countries, companies and civil society working together to ...
    BeehiveBy beehive.govt.nz
    5 hours ago
  • New chair of interim TAB NZ Board appointed
    Racing Minister Grant Robertson has announced he is appointing Elizabeth Dawson (Liz) as the Chair of the interim TAB NZ Board. Liz Dawson is an existing Board Director of the interim TAB NZ Board and Chair of the TAB NZ Board Selection Panel and will continue in her role as ...
    BeehiveBy beehive.govt.nz
    6 hours ago
  • Government to phase out live exports by sea
    The Government has announced that the export of livestock by sea will cease following a transition period of up to two years, said Agriculture Minister Damien O’Connor. “At the heart of our decision is upholding New Zealand’s reputation for high standards of animal welfare. We must stay ahead of the ...
    BeehiveBy beehive.govt.nz
    9 hours ago
  • Inter-prison kapa haka competition launched
    For the first time, all 18 prisons in New Zealand will be invited to participate in an inter-prison kapa haka competition, Corrections Minister Kelvin Davis announced today. The 2021 Hōkai Rangi Whakataetae Kapa Haka will see groups prepare and perform kapa haka for experienced judges who visit each prison and ...
    BeehiveBy beehive.govt.nz
    11 hours ago
  • Government takes step forward on counter terrorism laws
    The Government has introduced the Counter-Terrorism Legislation Bill, designed to boost New Zealand's ability to respond to a wider range of terrorist activities. The Bill strengthens New Zealand’s counter-terrorism legislation and ensures that the right legislative tools are available to intervene early and prevent harm. “This is the Government’s first ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Carbon neutral government a step closer
    Coal boiler replacements at a further ten schools, saving an estimated 7,000 tonnes of carbon dioxide over the next ten years Fossil fuel boiler replacements at Southern Institute of Technology and Taranaki DHB, saving nearly 14,000 tonnes of carbon dioxide over the next ten years Projects to achieve a total ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Appointment of Chief Parliamentary Counsel
    Attorney-General David Parker today announced the appointment of Cassie Nicholson as Chief Parliamentary Counsel for a term of five years. The Chief Parliamentary Counsel is the principal advisor and Chief Executive of the Parliamentary Counsel Office (PCO).  She is responsible for ensuring PCO, which drafts most of New Zealand’s legislation, provides ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Emissions report shows urgent action needed
    Every part of Government will need to take urgent action to bring down emissions, the Minister for Climate Change, James Shaw said today in response to the recent rise in New Zealand’s greenhouse emissions. The latest annual inventory of New Zealand’s greenhouse gas emissions shows that both gross and net ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • NZ becomes first in world for climate reporting
    Commerce and Consumer Affairs Minister David Clark says Aotearoa New Zealand has become the first country in the world to introduce a law that requires the financial sector to disclose the impacts of climate change on their business and explain how they will manage climate-related risks and opportunities. The Financial ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Awards celebrate the food and fibre sector employer excellence
    Exceptional employment practices in the primary industries have been celebrated at the Good Employer Awards, held this evening at Parliament. “Tonight’s awards provided the opportunity to celebrate and thank those employers in the food and fibres sector who have gone beyond business-as-usual in creating productive, safe, supportive, and healthy work ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Tourism Infrastructure Fund now open
    Applications are now invited from all councils for a slice of government funding aimed at improving tourism infrastructure, especially in areas under pressure given the size of their rating bases. Tourism Minister Stuart Nash has already signalled that five South Island regions will be given priority to reflect that jobs ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Construction Skills Action Plan delivering early on targets
    The Construction Skills Action Plan has delivered early on its overall target of supporting an additional 4,000 people into construction-related education and employment, says Minister for Building and Construction Poto Williams. Since the Plan was launched in 2018, more than 9,300 people have taken up education or employment opportunities in ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Youth Justice residence offers new pathway
    An innovative new Youth Justice residence designed in partnership with Māori will provide prevention, healing, and rehabilitation services for both young people and their whānau, Children’s Minister Kelvin Davis announced today.  Whakatakapokai is located in South Auckland and will provide care and support for up to 15 rangatahi remanded or ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • The Duke of Edinburgh
    Prime Minister Jacinda Ardern today expressed New Zealand’s sorrow at the death of His Royal Highness The Prince Philip, Duke of Edinburgh. “Our thoughts are with Her Majesty The Queen at this profoundly sad time.  On behalf of the New Zealand people and the Government, I would like to express ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Five Country Ministerial Communiqué
    We, the Home Affairs, Interior, Security and Immigration Ministers of Australia, Canada, New Zealand, the United Kingdom and the United States of America (the ‘Five Countries’) met via video conference on 7/8 April 2021, just over a year after the outbreak of the COVID-19 global pandemic. Guided by our shared ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Inspiring creativity through cultural installations and events
    Arts, Culture and Heritage Minister Carmel Sepuloni has today announced the opening of the first round of Ngā Puninga Toi ā-Ahurea me ngā Kaupapa Cultural Installations and Events. “Creating jobs and helping the arts sector rebuild and recover continues to be a key part of the Government’s COVID-19 response,” Carmel ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Drug-testing law to be made permanent
    Interim legislation that is already proving to keep people safer from drugs will be made permanent, Health Minister Andrew Little says. Research by Victoria University, on behalf of the Ministry of Health, shows that the Government’s decision in December to make it legal for drug-checking services to operate at festivals ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Better rules proposed for freedom camping
    Public consultation launched on ways to improve behaviour and reduce damage Tighter rules proposed for either camping vehicles or camping locations Increased penalties proposed, such as $1,000 fines or vehicle confiscation Rental companies may be required to collect fines from campers who hire vehicles Public feedback is sought on proposals ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government backs Air New Zealand as Trans-Tasman bubble opens
    The Government is continuing to support Air New Zealand while aviation markets stabilise and the world moves towards more normal border operations. The Crown loan facility made available to Air New Zealand in March 2020 has been extended to a debt facility of up to $1.5 billion (an additional $600 ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Building gifted for new community hub in Richmond red zone
    Christchurch’s Richmond suburb will soon have a new community hub, following the gifting of a red-zoned property by Land Information New Zealand (LINZ) to the Richmond Community Gardens Trust. The Minister for Land Information, Damien O’Connor said that LINZ, on behalf of the Crown, will gift a Vogel Street house ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Pacific languages funding reopens
      Minister for Pacific Peoples Aupito William Sio says the reopening of the Ministry for Pacific Peoples’ (MPP) Languages Funding in 2021 will make sure there is a future for Pacific languages. “Language is the key to the wellbeing for Pacific people. It affirms our identity as Pasifika and ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • ERANZ speech April 2021
    It is a pleasure to be here tonight.  Thank you Cameron for the introduction and thank you for ERANZ for also hosting this event. Last week in fact, we had one of the largest gatherings in our sector, Downstream 2021. I have heard from my officials that the discussion on ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Strengthening Māori knowledge in science and innovation
    Research, Science and Innovation Minister Megan Woods has today announced the 16 projects that will together get $3.9 million through the 2021 round of Te Pūnaha Hihiko: Vision Mātauranga Capability Fund, further strengthening the Government’s commitment to Māori knowledge in science and innovation.  “We received 78 proposals - the highest ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government delivers next phase of climate action
    The Government is delivering on a key election commitment to tackle climate change, by banning new low and medium temperature coal-fired boilers and partnering with the private sector to help it transition away from fossil fuels. This is the first major announcement to follow the release of the Climate Commission’s ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Continued investment in Central Otago schools supports roll growth
    Six projects, collectively valued at over $70 million are delivering new schools, classrooms and refurbished buildings across Central Otago and are helping to ease the pressure of growing rolls in the area, says Education Minister Chris Hipkins. The National Education Growth Plan is making sure that sufficient capacity in the ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Two more Christchurch schools complete
    Two more schools are now complete as part of the Christchurch Schools Rebuild Programme, with work about to get under way on another, says Education Minister Chris Hipkins. Te Ara Koropiko – West Spreydon School will welcome students to their new buildings for the start of Term 2. The newly ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Independent experts to advise Government on post-vaccination future
    The Government is acting to ensure decisions on responding to the next phase of the COVID-19 pandemic are informed by the best available scientific evidence and strategic public health advice. “New Zealand has worked towards an elimination strategy which has been successful in keeping our people safe and our economy ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • Supporting Māori success with Ngārimu Awards
    Six Māori scholars have been awarded Ngārimu VC and the 28th (Māori) Battalion Memorial scholarships for 2021, Associate Education Minister and Ngārimu Board Chair, Kelvin Davis announced today. The prestigious Manakura Award was also presented for the first time since 2018. “These awards are a tribute to the heroes of the 28th ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Global partnerships propel space tech research
    New Zealand’s aerospace industry is getting a boost through the German Aerospace Centre (DLR), to grow the capability of the sector and potentially lead to joint space missions, Research, Science and Innovation Minister Megan Woods has announced. 12 New Zealand organisations have been chosen to work with world-leading experts at ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government backs more initiatives to boost food and fibre workforce
    The Government is backing more initiatives to boost New Zealand’s food and fibre sector workforce, Agriculture Minister Damien O’Connor announced today. “The Government and the food and fibres sector have been working hard to fill critical workforce needs.  We've committed to getting 10,000 more Kiwis into the sector over the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Minister welcomes Bill to remove Subsequent Child Policy
    Minister for Social Development and Employment Carmel Sepuloni has welcomed the first reading of the Social Security (Subsequent Child Policy Removal) Amendment Bill in the House this evening. “Tonight’s first reading is another step on the way to removing excessive sanctions and obligations for people receiving a Main Benefit,” says ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Mental Health Amendment Bill passes first reading
    The Government has taken a significant step towards delivering on its commitment to improve the legislation around mental health as recommended by He Ara Oranga – the report of the Government Inquiry into Mental Health and Addiction, Health Minister Andrew Little says. The Mental Health (Compulsory Assessment and Treatment) Amendment ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Whenua Māori Rating Amendment Bill passes third reading
    Local Government Minister Nanaia Mahuta has welcomed the Local Government (Rating of Whenua Māori) Amendment Bill passing its third reading today. “After nearly 100 years of a system that was not fit for Māori and did not reflect the partnership we have come to expect between Māori and the Crown, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Trans-Tasman bubble to start 19 April
    New Zealand’s successful management of COVID means quarantine-free travel between New Zealand and Australia will start on Monday 19 April, Prime Minister Jacinda Ardern announced today. Prime Minister Jacinda Ardern and COVID-19 Response Minister Chris Hipkins confirmed the conditions for starting to open up quarantine free travel with Australia have ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Ngāti Hinerangi Claims Settlement Bill passes Third Reading
    Minister for Treaty of Waitangi Negotiations Andrew Little welcomed ngā uri o Ngāti Hinerangi to Parliament today to witness the third reading of their Treaty settlement legislation, the Ngāti Hinerangi Claims Settlement Bill. “I want to acknowledge ngā uri o Ngāti Hinerangi and the Crown negotiations teams for working tirelessly ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Independent group announced to advise on firearms matters
    Minister of Police Poto Williams has announced the members of the Ministers Arms Advisory Group, established to ensure balanced advice to Government on firearms that is independent of Police. “The Ministers Arms Advisory Group is an important part of delivering on the Government’s commitment to ensure we maintain the balance ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Kiri Allan to take leave of absence
    Kiri Allan, Minister of Conservation and Emergency Management will undertake a leave of absence while she undergoes medical treatment for cervical cancer, Prime Minister Jacinda Ardern announced today. “I consider Kiri not just a colleague, but a friend. This news has been devastating. But I also know that Kiri is ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Excellent progress at new Waikeria prison build
    Excellent progress has been made at the new prison development at Waikeria, which will boost mental health services and improve rehabilitation opportunities for people in prison, Corrections Minister Kelvin Davis says. Kelvin Davis was onsite at the new build to meet with staff and see the construction first-hand, following a ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Expert panel proposes criminal limits for drug driving
    To reduce the trauma of road crashes caused by drug impaired drivers, an Independent Expert Panel on Drug Driving has proposed criminal limits and blood infringement thresholds for 25 impairing drugs, Minister of Police Poto Williams and Transport Minister Michael Wood announced today. The Land Transport (Drug Driving) Amendment Bill ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Covid-19 imgration powers to be extended
    Temporary COVID-19 immigration powers will be extended to May 2023, providing continued flexibility to support migrants, manage the border, and help industries facing labour shortages, Immigration Minister Kris Faafoi announced today. “Over the past year, we have had to make rapid decisions to vary visa conditions, extend expiry dates, and ...
    BeehiveBy beehive.govt.nz
    2 weeks ago