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I'm in NZ and it's craz I've here too. I don't know if that's a symptom of a wealth gap or something else. What ever it is it's a real issue. I personally thi
by xupybd 6y ago
I'm in NZ and it's craz I've here too.
I don't know if that's a symptom of a wealth gap or something else. What ever it is it's a real issue. I personally think prices are inflated by low interest rates and the bubble is going to pop at some point.
- AussieWog93 6y agoThank God you guys have Jacinda, though. Our government doesn't have the balls to get rid of negative gearing, let alone completely nullifying tax deductions on mortgage repayments.
- Mandatum 6y agoYou have stamp duty and all sorts of other measures in place at a state level (looking at Land Tax in QLD) that at least generates revenue from this. New Zealand has none of these, and as a result property flipping is rampant - the turnover of property is 3-5x higher in parts of NZ than anywhere else in AU.
- Mandatum 6y agoWe've been saying that for 15 years though.. Sure the interest rates are rock-bottom right now but still most of our countries main investment is property. Until there's legislation to control rent or tax land, I think we're up shit creek.