Comments by "z weed" (@zweed69) on "Ghost houses - time to tax the owners of uninhabited homes? 👻 | TVNZ Breakfast" video.
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@NZSnipesGaming 60K a year??? wtf do you do, thats like minimum wage 😂 my kids make more than that, get off your ass and make something of yourself 🤦♂ seriously though, a million dollars you say, think thats a lot? wait til you see that house in 2 decades, you will see a million wasn't much...
you have it twisted if you actually think the price of land (not houses thats nothing, trust me) is relative to supply, its just not. Its inflation that has pushed prices up, simple as that. I was just like you once, when houses hit 300K in queenstown we thought that was stupid high, look at what they are now. 🤷♂ its always going up... get in now, you will be sorted, sure the price is high, but so is the capital gain...
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@zrymill its stupid to look at 'houses' (remember its not the building, its the dirt its on that the $$$) as just an investment. Look at it this way, if I rent out my $1,000,000 house I can get $650 per week, thats (after rates, insurance, water, upkeep, and misc) around $22,000 a year not big money. Now if I sold this same house, and banked the money in a short term investment at around 5% I will make approx 40-50k per year and always have the million in the bank. Think about that for a minute, I can make more per year (short term) if I sell up, but in the long term I will make a capital gain (hopefully) and thats where the risks come in for us investors... rates are skyrocketing its my prediction, that and other mechanisms like this tax are aimed at leveraging property out of the hands of the middle class.
Who do you think will buy these properties when this occurs? You think eryone gonna ditch their investments for nothing? give em away? 🤣 Nope, the buyers are always big developers, housing corporations will be the future landlords and ya reckon you gonna get better breaks under corporates than some boomer landlords, think again...
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