Hi Pat. I think that ChCh is a bad example. Since the earthquake the city has spread out hugely to the west, north west and south west. In the east of course, which has historically been lower cost housing, its just one huge barren landscape in many areas. The whole market is totally distorted.
The new dwellings are all of a certain type. Flashy, expensive and not really good rental material. So, I would strongly disagree that supply has increased
in the rental market.
Agree with you re excess liquidity, along with interest rates sub 3% and the wrong incentives (lack of Capital Gains Tax).
Bloody annoying behaviour from Vector yesterday. Caused the site to be off for most of the day and evening.
We d been informed earlier in the month of a power shutdown from 8am to 10 am. That is on the limits of my UPS. I just organised to be home during the morning. The UPS ran until about 1013.
By which time, I was asking about why it was taking so long. The workers then told me that the power would be off until sometime around 4pm.
Unfortunately the system shutdown hard, because of problem in the UPS configuration. I had to repair the partition tables of the two drives that are the current TS system.
And if the new owner wants to live in it ….
aj …
Essentially over the past 20yrs we ve actually had to put money
into the business to keep it afloat, and our tenants in their homes. We re now in the position of having shitloads of equity, but
crap cash flow, and because I m close to retiring that isn t something I can sustain anymore.
The trouble with this is that I ve heard this description from not only landlords but farmers as well, except farmers don t like to flaunt their equity in public.
The total values of assets that can be realised is the figure that most people will focus on. If you have $10M in equity but moan your a e off about pitiful cashflow, then you generally won t get a lot of sympathy.
We’re already forgetting about the Air New Zealand-Saudi Arabia scandal
Opinion
It’s hardly surprising that the story has faded from front pages, writes Amal Samaha – forgetting is just what we do when it comes to uncomfortable truths about New Zealand’s actions overseas.
Early last week it was revealed that Air New Zealand’s gas turbine division was supplying the Saudi Arabian Navy with parts and engine repairs. After all, turbine engines undergo a lot of wear and tear zipping around the Red Sea, blockading food shipments intended for an estimated 2 million children under five on the verge of starvation.