Garthanos
Arcadian Knight
an old gramma house can be acquired for 75k usd here The 175k is kind of a nice house in my opinion. We did not have a housing crisis here unlike the coast
D&D and the rising pandemic
Zardnaar
Legend
You wouldn't get a house here for that price. Maybe a section with a ruin in rural NZ falling apart.
If you went to the worst part of the country and don't mind gang members or a meth house next door I think the absolute cheapest you can find is about $140k and that was a year ago.
Job losses starting, if you have job, own house or bought one a few years ahead. It's rough on the young and anyone ending up on welfare.
It's our version of the US stock market I suppose as a side effect of Covid and government stimulus.
@Zardnaar - 195 sq.meters, almost 1 acre lot, 5 miles from state capital around $225k. But don't worry, our politicians are desperately trying to figure out how to blow up our economy... (with destroying the global climate as a back-up).
Is there any talk there of a glut of certain kinds of houses (especially bigger more expensive ones) when the baby boomers start dying in greater numbers?
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In COVID related things, looks like the kids doing all virutal learning (instead of 2 days in school 3 days out) get no elective courses (so just math, English, social studies, and science). They're still having high school and middle school sports though, just with limited seating.
Is there any talk there of a glut of certain kinds of houses (especially bigger more expensive ones) when the baby boomers start dying in greater numbers?
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In COVID related things, looks like the kids doing all virutal learning (instead of 2 days in school 3 days out) get no elective courses (so just math, English, social studies, and science). They're still having high school and middle school sports though, just with limited seating.
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Zardnaar
Legend
NZ houses not usually that size. 195 so.metres is a large house. Houses probably more like 100-130 sq.metres.
Boomers getting blamed but if they die off their kids probably inherit. No inheritance or capital gains tax. Not really going to put vastly more houses on the market.
With border closures they figured it would relieve pressure but now there's kiwis coming back either fleeing Covid or job losses so come home.
They're relaxing the border rules do non citizen partners can enter soon although you would assume they will move into existing households.
We spent a generation or two or three in the US buying bigger things for ourselves and not building infrastructure or a vaguely even economic playing field.
From 1920 to 1940 the average new house was around 1100 sq ft, so approx. 100 sq. m
By 1975 we were up to 150 sq. m, and by 2015 up to 250 sq. m
For the inheritence, what do the kids do with the house when it's in a quickly shrinking town or small city in the midwestern US and they live 100+ miles away? Some cities have purchased and torn down entire mostly-vacant neighborhoods over the past decade to turn into green space.
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cbwjm
Seb-wejem
What! Where is the social distancing!
Levistus's_Leviathan
5e Freelancer
They don't need it. That's New Zealand.
cbwjm
Seb-wejem
Go live out somewhere really inconvenient in a terrible run down house and you can get something for less than 100k, but why would you want to?
I remember looking at houses in Turua where I grew up, small town (if you can use the term town) and house prices were ridiculous, I think 600k+
cbwjm
Seb-wejem
I know, I live there. There are social distancing regulations in place but really only Auckland (where I live) has to worry about it.
Zardnaar
Legend
I grew up in Oamaru. Last I looked they were hitting $400k.
Some interesting conversations on r/new Zealand about rent and house prices. I think Westport was the last "cheap" town left.
