RBNZ to halve allowance for high LVR loans from Oct 1, but 77% of high LVR lending is to first home buyers; Plan conflicts with Robertson's direction; DTIs and rate floors hit first homers hardest too
Double whammy for the current immigrants in New Zealand, besides the immigration policy. Immigrants are cleanly in the group, who do not have intergenerational wealth. Slave society in the making
The situation is as terrible as it gets domestically speaking. It's a surprise that housing is so expensive here after all the current stock isn't that great to start with and one only has to look at the leaky homes saga horror show. Hopefully they can make meaningful change by keeping some of the timber back from export market. As for the Aussie metal and manufacturing stoush with China we wouldn't want a economic war and more over 'for want of a nail the Kingdom was lost ... so maybe they need to restart some level of in house manufacturing. But the monopoly and reliance of the Easty treaty teat might take lifetime to wean to gain some level of healthy independence and resilience much like Govt might also need to rebuild MOW and not be manipulated by a public/private partnership only in theory where the enduring result the later ends up in practise 'tail waging the dog'.
As with QE I wonder where the 'actual' monies are coming? or at least how does anyone get some transparency to get at least the big picture? How much QE comes from the East? ... as the Chinese are by some schools of thought is now No1 Economy of the World
On the subject of overseas monies and interest I do believe the royal family of UK own quite a few shares in one of N.Z. power company Meridian as at the time my husband and I looked into the ownership when my husband was applying for a job there last year. Wouldn't it be kinda ironic if Quantitative Easing was coming from Queen Elizabeth ... it rhymes. Oh by the way how much of N.Z Forests are actually own by the Govt I'm aware some is owned by the Japanese along some wealthy New Zealanders?
“If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that ye were our countrymen.”
Immigrate. If you do not have ancestral capital.
Double whammy for the current immigrants in New Zealand, besides the immigration policy. Immigrants are cleanly in the group, who do not have intergenerational wealth. Slave society in the making
The situation is as terrible as it gets domestically speaking. It's a surprise that housing is so expensive here after all the current stock isn't that great to start with and one only has to look at the leaky homes saga horror show. Hopefully they can make meaningful change by keeping some of the timber back from export market. As for the Aussie metal and manufacturing stoush with China we wouldn't want a economic war and more over 'for want of a nail the Kingdom was lost ... so maybe they need to restart some level of in house manufacturing. But the monopoly and reliance of the Easty treaty teat might take lifetime to wean to gain some level of healthy independence and resilience much like Govt might also need to rebuild MOW and not be manipulated by a public/private partnership only in theory where the enduring result the later ends up in practise 'tail waging the dog'.
As with QE I wonder where the 'actual' monies are coming? or at least how does anyone get some transparency to get at least the big picture? How much QE comes from the East? ... as the Chinese are by some schools of thought is now No1 Economy of the World
https://nationalinterest.org/feature/china-now-world%E2%80%99s-largest-economy-we-shouldn%E2%80%99t-be-shocked-170719
On the subject of overseas monies and interest I do believe the royal family of UK own quite a few shares in one of N.Z. power company Meridian as at the time my husband and I looked into the ownership when my husband was applying for a job there last year. Wouldn't it be kinda ironic if Quantitative Easing was coming from Queen Elizabeth ... it rhymes. Oh by the way how much of N.Z Forests are actually own by the Govt I'm aware some is owned by the Japanese along some wealthy New Zealanders?
“If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that ye were our countrymen.”
― Samuel Adams