tmnvix

47 ms·

631.
by tmnvix 4y ago
Financialisation. I have a strong suspicion that the benefits of increased productivity are claimed by the finance industry. Credit/debt increases along with productivity keeping us mere mortals from enjoying the benefits we otherwise
632.
by tmnvix 4y ago
Could be that the reduction has come at the cost of children's freedom of movement?
633.
by tmnvix 4y ago
>> now the speculative buyers are gone and we're dealing with ordinary home buyers that actually occupy their home. These genuine owners are paying high property taxes. Homeowners are concerned with the size of the deposit requir
634.
by tmnvix 4y ago
I think that it's a case of underutilised properties being flushed out. No one really considers it, but in a booming market you might be more likely to have a higher percentage of underutilised properties. When the market turns, those
635.
by tmnvix 4y ago
I put it down to the double whammy of banking deregulation and ripping into social housing. From the 90s on property speculation has been the name of the game. It does seem like this year could bring a paradigm shift. We might have come to
636.
by tmnvix 4y ago
This is not how it's working out right now in NZ. Interest rates up. House prices down (-20% in my city). Number of available rentals up (almost doubled in some markets). Rental prices down (looks like around -10%). It looks like under
637.
by tmnvix 4y ago
> But rate hikes are driving higher rents, which are fueling inflation Rate hikes appear to be doing the opposite to rents here in NZ
638.
by tmnvix 4y ago
"The rent is too damn high!" A lot of talk of supply side issues, economics 101, etc in these threads. Greetings from New Zealand, where just like so many other anglosphere economies we've been playing the low interest proper
639.
by tmnvix 4y ago
I would argue that second homes, vacation homes and bigger homes have become way more common because in the past these things cost money, whereas now they make money (i.e. large capital gains). I think we are possibly entering a phase where
640.
by tmnvix 4y ago
Like Australia?
641.
by tmnvix 4y ago
There are something like 130m people in Japan and yet firearm homicides appear to be at least a couple of orders of magnitude less frequent: "A 2022 report from the University of Washington revealing that, while the US had more than fo
642.
by tmnvix 4y ago
I think DRY is one of the first pieces of advice that many programmers come across. Taking it to heart as a beginner it has the advantage of encouraging you to sometimes stop and give a bit more thought to what you are actually doing. Is th
643.
by tmnvix 4y ago
I agree. My own theory is that the benefits of higher productivity - that it was assumed would translate to more free time - have largely been captured by the financial sector by way of increased credit/debt servicing.
644.
by tmnvix 4y ago
The financial industry has hijacked and transformed capitalism. Less industrious and more rent-seeking. Adam Smith et al would be turning in their graves.
645.
by tmnvix 4y ago
You are right. Those figures are off but they are based on the same dataset you are referring to (or at least an earlier version). I notice that they have revised some of the more recent household estimates. I had 1991 at 1,307,000 private
646.
by tmnvix 4y ago
I can confirm this in the context of NZ. During the past 25 years the number of residences relative to the number of households has increased substantially from roughly 3.5% more residences to something like 6.5% more. All while the number
647.
by tmnvix 4y ago
That's a good point. It's interesting that for the past 15 years or so the average household size in NZ has remained at about 2.7 despite a housing crisis with more people living in cars, converted garages, etc. I always assumed t
648.
by tmnvix 4y ago
We had an 'undersupply' problem in NZ until very recently. It seemed like it was all the media ever talked about. Then inflation hit, rates went up, and property prices started declining rapidly (current rate of decline looks like
649.
by tmnvix 4y ago
I'm no economist, but my understanding is that it's the nature of our debt based financial system. The money that exists in our system (except for an insignificant fraction) is loaned into existence. Borrowers must repay the princ
650.
by tmnvix 4y ago
Maybe a corresponding growth in credit has allowed the financial sector to capture the increased productivity? A lot of loans are given for non-GDP transactions (i.e. purchases of existing assets as opposed to actual business and infrastruc
651.
by tmnvix 4y ago
It takes a lot to motivate people to leave their family and community behind.
652.
by tmnvix 4y ago
I think it's sometimes hard for people to accept that the difference between inventory and supply can fluctuate. The simplistic view is that residences are either rented out or occupied by the owner. In reality a speculative boom creat
653.
by tmnvix 4y ago
That's generally what is done I think. You do often see this where the shape is split in two. The disadvantage is that you end up with a line in a sometimes incongruous place, so a good designer would avoid it where possible.
654.
by tmnvix 4y ago
As far as I can see that set of windows doesn't include any of the shapes I described. It does have 'cut outs' but they are curves, which don't have the same problem. Edit: Actually, I see what you were referring to now.
655.
by tmnvix 4y ago
Unfortunately some of these designs aren't feasible because the cuts won't work. It isn't possible to cut 'into' a piece of glass (imagine the 'mouth' of pacman) when making leadlights. You can see somethi
656.
by tmnvix 4y ago
> Any significantly above market returns of any kind are either a scam or have risks that are either not understood or not disclosed. In many markets, real estate is looking similar.
657.
by tmnvix 4y ago
> But eventually the vacant apartments will get rented out because they're costing their owners money Owners make money leaving properties vacant all the time. In fact, in many markets capital gains have been much more significant t
658.
by tmnvix 4y ago
If they were lending for productive purposes. Sadly, that hasn't really been the case (e.g. mortgage lending).
659.
by tmnvix 4y ago
We've been hearing the 'under-supply' argument for over a decade in NZ. StatsNZ shows that in the last 30 years the number of private residences relative to households has increased considerably (roughly 3.5% difference to ab
660.
by tmnvix 4y ago
A lot of things are overvalued relative to the income they can generate. Credit has been cheap and easy so speculation has been rife. That will end.

More ›