National save housing crisis

Post Options Post Options   Likes (1) Likes(1)   Quote sposman Quote  Post ReplyReply Direct Link To This Post Topic: National save housing crisis
    Posted: 25 Jun 2016 at 12:47pm
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National have spent 26 million on consultants to sell off state houses to people like merchant banker Andrew Body. The rents have gone up 50% over yhe last 5 years forcing the 43% of people in Auckland to pay a large portion of their income in rent , this in turn must be a huge drain on the economy . So in all a huge success by National and they should be awarded a medal for contributing to building a successful, prosperous country for out young people to inherit.
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Post Options Post Options   Likes (0) Likes(0)   Quote Barrie Quote  Post ReplyReply Direct Link To This Post Posted: 25 Jun 2016 at 1:39pm
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Titanium
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Just to help show the other side of this. In New Lynn there were 4 state houses together. All 4 were demolished and 16, 3 and 4 bedroom units were built on the same site.
High rents are caused by the shortage and the shortage is caused by people returning to NZ and mainly wanting to live in Auckland. This is added to by immigrants and people outside Auckland wanting to live here.
If there was an over supply of homes to live in the rents would be at rock bottom and with the amount of building going on here, its only a matter of time before rents start falling.
We have 2 options. First is build more dwellings and have the country grow bringing more jobs and income for all concerned or secondly install a government that will do all it can to chase away people and businesses bringing down incomes and jobs. We all have the rite to decide on the way we want NZ to be in the future. Personally I want growth but can appreciate the logic behind those that dont.
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Post Options Post Options   Likes (0) Likes(0)   Quote sposman Quote  Post ReplyReply Direct Link To This Post Posted: 25 Jun 2016 at 2:09pm
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Glad you have cleared up the issue of 26million dollars spent on consultants, and why government houses are being sold at wholesale rates .Be interested in how you think this is good economics.
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Post Options Post Options   Likes (0) Likes(0)   Quote Capt Asparagus Quote  Post ReplyReply Direct Link To This Post Posted: 25 Jun 2016 at 2:40pm
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I suppose those buying them at wholesale rates probably don't mind, if they are existing tenants. However, are the units being sold to general public or existing tenants. New home buyers or speculators?
If chasing top dollar, then likely investors, but if they are being sold deliberately cheaply, I would expect that on investigation they will be being sold either to tenants or social housing entities to redevelop into new rental units.
As Barry pointed out, but removing old houses on large sections, redevelopment can hugely increase the governments bang-for-Buck.
If you built a thousand houses, and gave them away cheaply to people, how long until those same folks turned around to sell them at market rates? I am guessing about ninety three seconds.
There is huge bad press about poor standards of the housing stock in housing Corp state housing. If you can sell these old dungas to redevelop at a good price, then take that money to build multiple new modern, dry, warm houses that house more people....why not?
Consultancy fees? Dunno about that. One assumes they earned it somehow, not sure what they did to earn it, but I suppose the department bureaucrats ran the numbers and saw the need.

It is only my overwhelming natural humility that mars my perfection.

Captain Asparagus, Superhero, Adventurer.
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Post Options Post Options   Likes (0) Likes(0)   Quote pompey Quote  Post ReplyReply Direct Link To This Post Posted: 25 Jun 2016 at 3:05pm
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State housing needs have changed from the 50's, so has the luxury of having state houses poorly configured and maintained on full sites.
I agree that like all Govt departments HNZ is woeful at what they do and waste millions on consultants. However, rest assured that no merchant bankers or anyone else are buying HNZ houses on the cheap. The selling of HNZ houses is strictly and the process is transparent.
If rents have increased it is because they are almost always income related, hence income has increased.
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