Coronavirus

Old May 1st 2020, 5:59 am
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Default Re: Coronavirus

How do people feel about the 'community check-points'?
https://www.rnz.co.nz/news/te-manu-k...ally-is-racism

I have not travelled very far from home for many weeks now so haven't been affected. My first reaction (as a pakeha) is to find these things abominable.

Then again, the Government has told everyone to stay-home so perhaps there is some value in adopting the Maori community approach to communal problems?,
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Old May 1st 2020, 7:31 am
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Default Re: Coronavirus

Originally Posted by jarv5116
I see there reducing the deposit % on house from 20% to 10%.
I think the property market in NZ is crazy anyways.
Way to expensive for property. 600-800k for 3 bed in a not desirable area in Auckland is crazy prices.
I don't think the predicted price fall will happen everywhere. Down here in Otago, every time a house appears on SM there is a rush of people desperate to snap it up. The desperate clammer of buyers will keep prices high
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Old May 1st 2020, 7:45 am
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Default Re: Coronavirus

Originally Posted by Justcol
I don't think the predicted price fall will happen everywhere. Down here in Otago, every time a house appears on SM there is a rush of people desperate to snap it up. The desperate clammer of buyers will keep prices high
Problem becomes when no one has any money to buy.Then defaults happen left right and centre.
banks lose money shit loads money.
They must be desparado to prop the property market up if there changing the LVR.

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Old May 1st 2020, 11:01 am
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Default Re: Coronavirus

Originally Posted by Justcol
I don't think the predicted price fall will happen everywhere. Down here in Otago, every time a house appears on SM there is a rush of people desperate to snap it up. The desperate clammer of buyers will keep prices high
Price fall of at least 10% seems inevitable, prices were ridiculously high beforehand and unaffordable, soon there's going to be 10% + unemployment, massive decrease in tourism and so income into NZ. You can't have 7 weeks of shutdown and expect it to have no effect, the weekend of the shutdown there was 'experts' on the saturday afternoon radio predicting if we're out of level 4 within 4 weeks that there would be no effect on house prices, and likely to be higher by the end of the year, the following weekend's been alittle more sanity in views. It's usually those with an interest in house prices going up, e.g. real estate agents etc. making these predictions, as predicting 10% declines isn't going to help their sales!

Incomes have an influence on house prices, rentals likely to come down too with less in the holiday home and air bnb maket space.

Sure prices will recover longer term (they did within 2/3 years of the GFC) but if anyone's looking to buy now they'd be worth waiting for some fall, than agreeing a price based on values of 8 weeks ago. House prices stagnating and falling also isn't bad news either, it's only bad news people looking to downsize, and of course real estate agents on % commission who have been on a win, win, win in ever rising property prices.
At the end of the day, house prices will relate to incomes, that ratio had increased becaus typically via 70, 80's more households have had 2 earners than would be the case then, but that relationship cannot be exponential.

If I had spare cash, I wouldn't be putting it in 2nd houses etc., I'd be looking at the stockmarket instead, not bothering to try pick winners, but spreading the risk in funds. There's little chance of buying at the very bottom though.
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Old May 2nd 2020, 1:55 am
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Default Re: Coronavirus

Originally Posted by Justcol
I don't think the predicted price fall will happen everywhere. Down here in Otago, every time a house appears on SM there is a rush of people desperate to snap it up. The desperate clammer of buyers will keep prices high
Seems to be similar up here. I'm seeing people tramping around the small development site next door even though they should not be there right now.
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Old May 2nd 2020, 1:57 am
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Default Re: Coronavirus

Originally Posted by Clappy
How do people feel about the 'community check-points'?
https://www.rnz.co.nz/news/te-manu-k...ally-is-racism

I have not travelled very far from home for many weeks now so haven't been affected. My first reaction (as a pakeha) is to find these things abominable.

Then again, the Government has told everyone to stay-home so perhaps there is some value in adopting the Maori community approach to communal problems?,
I don't care. People should be doing the right thing as requested, not the wrong thing. It has made me spit to see people that I know do not live in our area still come here because they wanted a trip out. Bah!
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Old May 2nd 2020, 6:11 am
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Default Re: Coronavirus

Originally Posted by Charismatic
The Government/IRD are going to directly lend money to businesses that can't get a loan from a bank: Link to legislation.

This is such a bad idea, if deployed I will not vote for any party that backed this. It would be wasting taxpayer money, governments should not be making credit decisions particularly in extremely high risk scenarios. You know often legislation is about balance and I can appreciate varying perspectives but this is not one of those times. This is a terrible idea and will end badly. Government departments just don't have the expertise in business lending.
Update: Further to my comment above it turns it turns out that the legislation was added to the bill in error. It had never been approved by cabinet and no one thought to read the text of the bill before it was rubber stamped under urgency. However, rather than recind the bill, the Government passed an updated version under urgency using the premise that they where going to do it all along.

​​​​​​Supplementary question: What is the minimum level of competence required to run a government? Asking for a friend.
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Old May 4th 2020, 4:29 am
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Default Re: Coronavirus

I'm well and truly over this bloody virus. I would dearly love to be back in the UK right now but can't be. My eldest brother's wife passed away from breast cancer on the 27th March and my mum died last Tuesday aged 84. I think her body just gave out after being unwell for a number of years.

The hardest thing is not being able to do anything. Without Covid 19 I'd be back home and supporting my dad and my brother. I feel so useless, the whole situation feels unreal and inertia has set in.
I have no idea how long it will be before I can get there and be allowed back here without being quarantined.
I hope everyone else is doing okay.
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Old May 4th 2020, 5:01 am
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Default Re: Coronavirus

Originally Posted by Vitalstatistix
I'm well and truly over this bloody virus. I would dearly love to be back in the UK right now but can't be. My eldest brother's wife passed away from breast cancer on the 27th March and my mum died last Tuesday aged 84. I think her body just gave out after being unwell for a number of years.

The hardest thing is not being able to do anything. Without Covid 19 I'd be back home and supporting my dad and my brother. I feel so useless, the whole situation feels unreal and inertia has set in.
I have no idea how long it will be before I can get there and be allowed back here without being quarantined.
I hope everyone else is doing okay.
Sorry to hear your news.

There is absolutely no time that anyone would consider OK to hear things like that but I think the isolation that we are going through now does it so much worse.
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Old May 4th 2020, 5:07 am
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Default Re: Coronavirus

Originally Posted by Vitalstatistix
I'm well and truly over this bloody virus. I would dearly love to be back in the UK right now but can't be. My eldest brother's wife passed away from breast cancer on the 27th March and my mum died last Tuesday aged 84. I think her body just gave out after being unwell for a number of years.

The hardest thing is not being able to do anything. Without Covid 19 I'd be back home and supporting my dad and my brother. I feel so useless, the whole situation feels unreal and inertia has set in.
I have no idea how long it will be before I can get there and be allowed back here without being quarantined.
I hope everyone else is doing okay.
Oh I'm so sorry about the loss of your mum Vital..same happened to a friend of mine in Sydney, her mum passed away in London about three weeks ago and she couldn't go to support her family or the funeral either..☹️
I'm struggling for the first time ever being on my own and am looking forward to getting back to CHCH in July. Thank goodness for the internet and Facebook to keep me feeling a bit connected.

In hindsight I'm one of the lucky ones. Take care of yourself Vitalstatistix ..
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Old May 4th 2020, 9:02 am
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Default Re: Coronavirus

Sorry to hear your news Vital, it must be unbearable. It's bad enough being so far away at the best of times but right now is just heartbreaking that people can't travel to be with families in times of real need or to attend funerals.

It keep playing on my mind, every time I speak to my mum these past few weeksnI hope she or nobody else dies right now because it would just be devastating not to be able to get there or do anything.

You take care.
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Old May 5th 2020, 1:50 am
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Default Re: Coronavirus

Second day at zero cases. If this continues we'll be back at level two shortly and can release the pensioners back into the wild to frolic free among the autumnal leaves.​​​

Sadly the economic consequences may persist for much longer.
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Old May 5th 2020, 3:15 am
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Default Re: Coronavirus

Originally Posted by Charismatic
Second day at zero cases. If this continues we'll be back at level two shortly and can release the pensioners back into the wild to frolic free among the autumnal leaves.​​​
Oi. You leave my frolics out of this. I could have been kicking up the leaves already but tend to shy away in case of dog poops lurking.

Sadly the economic consequences may persist for much longer.
Realistically yes. No matter which way it was played it was always going to cause financial difficulty and pain . At least it is not on the back of more death and impairment.
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Old May 5th 2020, 11:36 am
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Default Re: Coronavirus

Originally Posted by Charismatic
Second day at zero cases. If this continues we'll be back at level two shortly and can release the pensioners back into the wild to frolic free among the autumnal leaves.​​​

Sadly the economic consequences may persist for much longer.
No doubt the latter comment, but that applies everywhere with CV-19. LIkewise the initial full lock down was managed very well, but the economic consequences could have been somehat less, we could have been into Level 3 a week before we were, and should be in level 2 now with restrtcitions on mass gatherings more tighter than original level 2, not waiting a further week to next Wed/Thurs at best from Ardern's decision this coming Monday.
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Old May 6th 2020, 3:11 am
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Default Re: Coronavirus

Yes, well, New Zealands "unique position" is only an opportunity until we exploit it to create an actual advantage.​​​​​

From what I see the US and Europe are also attempting to 'open up' with similar limits to our L2. If they are successful in stopping a second wave it looks like both approaches yielded much the same results so far (except for a slightly higher death rate.)

We still might get some advantage if consumer spending recovers faster in Australasia? I'm not sure if an economy really can reopen if consumers are hesitant to spend. Time will tell.
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