Angeshirl

You are all very kind. Luckily I'm self-aware enough to know that most of this is the anxiety and depression talking. I was doing so well on that front just before summer. Yoga, meditating, exercising I felt great.
My sister sending endless messages about her new house (she never contacts me usually but for this she was happy to bombard me with texts) and front page reports about just how bad NZ is for housing completely rail-roaded me over the weekend. I slipped into bad habits and now I feel rubbish, desperate and exhausted all over again.

The Weezer - thank you for letting me know about South Auckland, it is definitely worth looking at.

Bo-Jangles - The apartments will be a good option for me if I split with my partner I think. The pressure this is putting on our relationship is ballooning as big as the house prices to be honest.

Vitalstatistix - Death being a better option made me laugh. At least I'm not the only one who's had irrational thoughts like that. The other day I thought to myself, I hope I die before I retire. How horrible is that? Coming from someone who has had to live with the loss of someone important through suicide, it's a sad day.

I know retirement is a long way off but I'm also troubled by hearing people around me talk about 'getting on the property ladder in any way you can' to avoid having to rent forever. I know I know, I shouldn't compare myself to others. I shouldn't even listen to others but my anxious mind always, always goes to worst case scenario even when I'm entirely aware of what I'm doing. Once I get stuck in this rut, the strength I need to get out of it and stop obsessing is huge. A massive mountain to climb.

Thank you all. Time to get back to getting myself better again.

barnsleymat

Have you thought about buying a property somewhere else in NZ (and cheaper) and becoming a landlord?
You get to stay in Auckland, you enter the property ladder and when you retire you'll have paid off property to sell and buy somewhere that suits you.

Angeshirl

I have considered it yes. I'll have to do a bit more research at I now thought that if it was an investment property I would need a 30% deposit. Wihtout being able to use my kiwisaver I think I'd be stuck with this as well.
I'm considering all options but definitely trying to worry less as well.

outback sunset

[QUOTE=Angeshirl;11856538]If this has been talked to death please feel free to remove. Just wondering if there are any useful links to discussions on the current 'crisis' in Auckland?I posted a long time ago about how it was affecting me and it is only getting worse.I've been in therapy for anxiety over the whole situation as home ownership slips further and further away. I now have sleepless nights about renting in old age and I'm not coping very well with it. I also wondered if anyone knows of a support group in Auckland for long term renters? I'm not looking for a group where we cry about how unfair t all is because I know more than anyone, that's just life. I'm more about hoping I'm not the only one who's mental health has suffered over the insanity surrounding having a roof over our heads.

I honestly am trying to respond to this post without sounding harsh. I haven't read your other posts so I don't know the context to this fear about being a home owner/or not. Apologies, as I imagine there is a lot more to the problem than this. However, I'm not sure if you're aware of the fact that cities can be very expensive places to live (i.e. London, Sydney, Melbourne, Auckland etc) because this is where a lot of the most well paid jobs are based, and/or because a lot of people love the facilities and vibe of city living? So, you have competition if you want to live there. Often only those with well paid jobs can buy property, others rent. It is not unique to Auckland. In London the government had to provide 'affordable housing' to people like police officers, nurses and teachers who could not afford to buy. Actually, also the problem's not unique to cities. I come from country Lancashire. Buying a house in some areas of the county is very expensive and although it's not the only reason, the fact is that people from London can sell their apartments/terrace homes and potentially buy a beautiful country home, in a desirable village with views. End of story. It is very rarely mentioned by the locals of Lancashire/Cumbria/Yorkshire/other desirable country counties but it's the reality for very many people. Not just you.

One poster mentioned looking further out of the CBD. Surely you've done that already if you're serious/desperate/totally focussed about buying a home? That is what anyone would do, isn't it? Get the closest you can to the city, and suck up the commute but aim to increase your earnings and reduced debt over time. This is what thousands do every day. Failing that, you could do what a lot of people do and buy a property in regional NZ. There are countless inexpensive and lovely areas where the locals also can't buy, but will rent from you. The rent should pay all costs of the property over time (depending on what/where you buy). You can be proud of yourself and sleep at night knowing that you still own a property (which brings pros and cons) but you have a place that is yours to go to at retirement if not before. You could also sell it at that point and just use it for retirement income.

I don't know your story, and imagine there is more to it than just buying a house in Auckland. However, if that's all it is then there are many options for you, and it really is a first world problem given what others in the world are facing.
Good advice that I have received in the past has been about trying to enjoy the present and not to live too much in the future or the past.

Venezuelan007

My math goes like this:
600K = 23 years of 500$/w rent (yes im not taking in account inflation for the rent nor interest for the 600k, to keep it simple, lets say interest and rent increase go along)
im also not counting things like rates, etc which in 23 years would account for a good 50k more (again without inflation)

for that 600k dream house now you have to give 120k deposit. And there is where all goes wrong.

120k in a house would be the last 3rd last thing I would do with a 120k, being 1 "keep it in a bank account" and 2 "buy a ferrari" (maybe half a ferrari)

No worries, we are in our 30s... time to live them, make mistakes, take chances, invest, get financially independent... not to waste thinking over a 30yr mortgage and retirement.

I also get the though of not having children until having a house... that is wrong. I'm not having children until I got a good independent business going on, house... is not as important as banks and real state want you to think

Cheers