Nat/act/nzf 2023

[jonu]

Maybe they would own the ex-rentals?

There will always be a need for some rentals for transient and young people etc but we have gone further than that.
We changed houses from being for housing to being a capital gain play - the greater fool theory.

Aren't you a self-described "large scale landlord" dobby41?

[Panda-NZ-]

Aren't you a self-described "large scale landlord" dobby41?

Following our PM's example then. What else is there in NZ?

[moka]

While in Sydney Luxon laughed off any suggestion he was issuing the Reserve Bank direction, in breach of its staunch independence.

https://www.msn.com/en-nz/news/other/pm-christopher-luxon-goes-off-foreign-affairs-script-ocr-cuts-raygun/ar-AA1oShkO

In keeping with the theme of most of his day, Luxon weighed into the debate around infrastructure and the cost of capital.
“We’ve had our first Reserve Bank cut, which is fantastic and helps us get interest rates down and we’ll probably get another two cuts before Christmas.”
Speaking to reporters after the speech, he laughed off any suggestion he was issuing the Reserve Bank direction, in breach of its staunch independence.
“What I’m reflecting is our hope that there will be some further movement on interest rates,” he said, adding that the market is pricing further OCR reductions.

[Balance]

While in Sydney Luxon laughed off any suggestion he was issuing the Reserve Bank direction, in breach of its staunch independence.

https://www.msn.com/en-nz/news/other/pm-christopher-luxon-goes-off-foreign-affairs-script-ocr-cuts-raygun/ar-AA1oShkO

In keeping with the theme of most of his day, Luxon weighed into the debate around infrastructure and the cost of capital.
“We’ve had our first Reserve Bank cut, which is fantastic and helps us get interest rates down and we’ll probably get another two cuts before Christmas.”
Speaking to reporters after the speech, he laughed off any suggestion he was issuing the Reserve Bank direction, in breach of its staunch independence.
“What I’m reflecting is our hope that there will be some further movement on interest rates,” he said, adding that the market is pricing further OCR reductions.

And Adrian Orr with his mythical Maori financial system has been an independent RBNZ governor? Same Orr who danced in tandem with Robertson and Ardern to fxxk up NZ?

LOL - RBNZ & Orr staunch independence? Kiss my arse - twice.

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The great crime out of Adrian Orr's move is you can't trust him.

A central bank is supposed to get the economy and he and his committee clearly don’t.

Don’t get me wrong - what he did was the right thing. A lot of people think it was the right thing.

But he is supposed to land it softly and he crashed it. Having crashed it, he still denied he crashed it until it clearly became so bleeding obvious that he did what he did yesterday.

The cuts that weren't coming until next year are here now. You only do what he did because you overcooked it in the first place.

Brad Olsen of Infometrics was wrong, but he was wrong for the right reasons. He said heads should roll and on that he is spot on.

You don’t run a commentary that says one thing then do another. Their defence will be "things change", but that has always been the Orr weak point. He likes to position himself as some sort of completely removed observer, devoid of any influence in the economy at all.

"Things have come to a grinding halt? How did that happen?"

Last time he talked he saw one thing and told us how it was going to play out. He was wrong.

But to the Olsen point, and indeed my point, was - aren't we supposed to believe him?

When non-tradeable inflation is 5.4%, is that the same as 0-3%? No, it isn't.

When unemployment is 4.6% and not 5.5%, has that metric fallen to where it is supposed to have? No, it hasn’t.

But that doesn’t matter now, apparently.

"Forget everything I said, I've decided to cut." That's how the Governor plays it.

The inescapable truth is he cocked it up. He tried to right it, overcorrected, pretended he didn’t until it was too late, the rhetoric didn’t match the reality, and we got to yesterday.

The result? We'll take it.

The quality of the journey? Bollocks.

[Bjauck]

The NZ Home ownership rate is now below 60%. Will the interest rate changes boost that rate - eventually - or, with the favourable tax regime, just end up boosting those who own multiple homes?

https://www.1news.co.nz/2024/07/22/h...low-60-report/

[Panda-NZ-]

The NZ Home ownership rate is now below 60%. Will the interest rate changes boost that rate - eventually - or, with the favourable tax regime, just end up boosting those who own multiple homes?

https://www.1news.co.nz/2024/07/22/h...low-60-report/

Luxon said little about improving the housing situation. Even what he did say during the election about consents isn't recieving much priority this year. There is the granny flat stuff I suppose.

His govt seems to be a labelling exercise. claiming good news as strong economic management and bad news as an inheritance from Labour.