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masayako
ParticipantIs it in USD or NZ currency? http://www.realestate.co.nz/
Thanks for the great info.
[quote=Ash Housewares]I’ve thought about doing this too. I lived there for a couple years and loved it. There is so much coastline and so few people that oceanfront/oceanview properties can be reasonably affordable. Couple that with pleasant weather and it’s tough to beat.
The NZ govt doesn’t have many restrictions on foreign ownership, but banks there won’t lend money on a property owned by a foreigner. So you’d have to pay cash, or get residency status, or find a lender here in the States that would work with you.
I do my daydreaming on
http://www.realestate.co.nz/
You can get condos in Auckland that cash flow. I’m not too familiar with vacation rental economics.Properties there didn’t go down much in price during the global economic storm and the NZ dollar is pretty strong right now, so bargains are hard to find at the moment. In fact the govt there is worried about how high prices are affecting young people- for example see
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10733891The recent earthquakes that destroyed Christchurch haven’t helped affordability either[/quote]
Participant1. “they will go to other neighborhoods, etc.,”
> That will hurt students budget because it means higher transportation cost.2. “In addition, the happy sellers of all the SDSU-near housing and apts must have been paid a pretty penny to sell out”
> Higher cost of housing is not good for the economy. Because higher cost means less money to spend on other items.
3. Land is not just any Goods and Services. Foreign policy should be in place should preserve Americans’ property right. Helping foreign investors can help us at certain degree in a short term. In the long term, it is NOT good for us.
Participant1. “they will go to other neighborhoods, etc.,”
> That will hurt students budget because it means higher transportation cost.2. “In addition, the happy sellers of all the SDSU-near housing and apts must have been paid a pretty penny to sell out”
> Higher cost of housing is not good for the economy. Because higher cost means less money to spend on other items.
3. Land is not just any Goods and Services. Foreign policy should be in place should preserve Americans’ property right. Helping foreign investors can help us at certain degree in a short term. In the long term, it is NOT good for us.
Participant1. “they will go to other neighborhoods, etc.,”
> That will hurt students budget because it means higher transportation cost.2. “In addition, the happy sellers of all the SDSU-near housing and apts must have been paid a pretty penny to sell out”
> Higher cost of housing is not good for the economy. Because higher cost means less money to spend on other items.
3. Land is not just any Goods and Services. Foreign policy should be in place should preserve Americans’ property right. Helping foreign investors can help us at certain degree in a short term. In the long term, it is NOT good for us.
Participant1. “they will go to other neighborhoods, etc.,”
> That will hurt students budget because it means higher transportation cost.2. “In addition, the happy sellers of all the SDSU-near housing and apts must have been paid a pretty penny to sell out”
> Higher cost of housing is not good for the economy. Because higher cost means less money to spend on other items.
3. Land is not just any Goods and Services. Foreign policy should be in place should preserve Americans’ property right. Helping foreign investors can help us at certain degree in a short term. In the long term, it is NOT good for us.
Participant1. “they will go to other neighborhoods, etc.,”
> That will hurt students budget because it means higher transportation cost.2. “In addition, the happy sellers of all the SDSU-near housing and apts must have been paid a pretty penny to sell out”
> Higher cost of housing is not good for the economy. Because higher cost means less money to spend on other items.
3. Land is not just any Goods and Services. Foreign policy should be in place should preserve Americans’ property right. Helping foreign investors can help us at certain degree in a short term. In the long term, it is NOT good for us.
ParticipantWhen a state government is desperate enough, they will sell out your home ownership right, standard of living etc. Look at 4S ranch, those 3000 sqfts McMansion should never be built in those post stamp size 5000 sqfts lot! That’s sad.
Eventually when the foreigner investment group bid high enough(due to their increased purchasing power from currency exchange), local government would/could favor them for land and build policy over our well being. That’s my biggest worry. Foreign investors takeover remains one of my biggest concerns of our US economics decline.
I have seen it happen in Canada (Vancouver, Toronto), it could happen here. Mark my words.
ParticipantWhen a state government is desperate enough, they will sell out your home ownership right, standard of living etc. Look at 4S ranch, those 3000 sqfts McMansion should never be built in those post stamp size 5000 sqfts lot! That’s sad.
Eventually when the foreigner investment group bid high enough(due to their increased purchasing power from currency exchange), local government would/could favor them for land and build policy over our well being. That’s my biggest worry. Foreign investors takeover remains one of my biggest concerns of our US economics decline.
I have seen it happen in Canada (Vancouver, Toronto), it could happen here. Mark my words.
ParticipantWhen a state government is desperate enough, they will sell out your home ownership right, standard of living etc. Look at 4S ranch, those 3000 sqfts McMansion should never be built in those post stamp size 5000 sqfts lot! That’s sad.
Eventually when the foreigner investment group bid high enough(due to their increased purchasing power from currency exchange), local government would/could favor them for land and build policy over our well being. That’s my biggest worry. Foreign investors takeover remains one of my biggest concerns of our US economics decline.
I have seen it happen in Canada (Vancouver, Toronto), it could happen here. Mark my words.
ParticipantWhen a state government is desperate enough, they will sell out your home ownership right, standard of living etc. Look at 4S ranch, those 3000 sqfts McMansion should never be built in those post stamp size 5000 sqfts lot! That’s sad.
Eventually when the foreigner investment group bid high enough(due to their increased purchasing power from currency exchange), local government would/could favor them for land and build policy over our well being. That’s my biggest worry. Foreign investors takeover remains one of my biggest concerns of our US economics decline.
I have seen it happen in Canada (Vancouver, Toronto), it could happen here. Mark my words.
ParticipantWhen a state government is desperate enough, they will sell out your home ownership right, standard of living etc. Look at 4S ranch, those 3000 sqfts McMansion should never be built in those post stamp size 5000 sqfts lot! That’s sad.
Eventually when the foreigner investment group bid high enough(due to their increased purchasing power from currency exchange), local government would/could favor them for land and build policy over our well being. That’s my biggest worry. Foreign investors takeover remains one of my biggest concerns of our US economics decline.
I have seen it happen in Canada (Vancouver, Toronto), it could happen here. Mark my words.
ParticipantImagine an extreme scenario, let’s say a foreign RE investment group buy all the rental apartment complex near SDSU, and then raise rent by 20%. We would have a rental shortage near SDSU instantly and local students would need to pay more to be able to live near the school and have less money to spend on other items.
At the same time, this money would go back to the foreign countries, their children and trigger down. Wealth transferred outside. Who gets negatively impactd? U.S of A folks.
Why I speak of this? Because I know it’s happening in San Diego and other parts of CA. CAR won’t complain because their goal is to sell houses. Doesn’t matter who buy it as long as someone buy it.
Just look at Vancouver, people from Hong Kong ‘invest’ in it and now they are the biggest landlord in Vancouver. What happened next? Housing price tripled. Local buyers forced to move out from the good neighborhoods in Vancouver to somewhere remote.
It’s sick.
ParticipantImagine an extreme scenario, let’s say a foreign RE investment group buy all the rental apartment complex near SDSU, and then raise rent by 20%. We would have a rental shortage near SDSU instantly and local students would need to pay more to be able to live near the school and have less money to spend on other items.
At the same time, this money would go back to the foreign countries, their children and trigger down. Wealth transferred outside. Who gets negatively impactd? U.S of A folks.
Why I speak of this? Because I know it’s happening in San Diego and other parts of CA. CAR won’t complain because their goal is to sell houses. Doesn’t matter who buy it as long as someone buy it.
Just look at Vancouver, people from Hong Kong ‘invest’ in it and now they are the biggest landlord in Vancouver. What happened next? Housing price tripled. Local buyers forced to move out from the good neighborhoods in Vancouver to somewhere remote.
It’s sick.
ParticipantImagine an extreme scenario, let’s say a foreign RE investment group buy all the rental apartment complex near SDSU, and then raise rent by 20%. We would have a rental shortage near SDSU instantly and local students would need to pay more to be able to live near the school and have less money to spend on other items.
At the same time, this money would go back to the foreign countries, their children and trigger down. Wealth transferred outside. Who gets negatively impactd? U.S of A folks.
Why I speak of this? Because I know it’s happening in San Diego and other parts of CA. CAR won’t complain because their goal is to sell houses. Doesn’t matter who buy it as long as someone buy it.
Just look at Vancouver, people from Hong Kong ‘invest’ in it and now they are the biggest landlord in Vancouver. What happened next? Housing price tripled. Local buyers forced to move out from the good neighborhoods in Vancouver to somewhere remote.
It’s sick.
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