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Boomers own all the Property

I enjoyed trying to explain my point of view in this article for Stuff.co.nz.
It’s always dangerous and also interesting to read the comments that people make.
They normally include the following:
1. It’s easy for you.
2. I must have inherited it, or been given a hand from my parents.
3. You could do that when you started but you can’t now.
4. This is why we need a capital gains tax to stop this.
5. People should only be allowed to own one house at a time.
6. I must not pay any tax.
7. All my properties are probably dumps that I don’t maintain.
8. The government needs to step in.

Amongst the positive responses that I’ve had to the article today was “There’s only a housing crisis if you don’t own some houses.”

I must admit that I do enjoy writing media pieces and getting the feedback but often some of it is very weird.

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Falling Property Market, I don’t think so.

People accuse me of being “Too optimistic about the property market”, but hear me out and see if you can fault my logic (My math yes, my logic no).
 

52 Ellice Street, Mount Vic Wellington sold this week for $3,080,000 (RV was $2,030,000). This represented a yield of 5.5%  gross, which isn’t bad considering interest rates at the moment.

 
What surprised me, though, was that there were seven offers in total, so six people missed out.
 
Which made me think, if the average “Failed” Tender was $2,800,000, then that’s something like $16,800,000 of investable funds that are still looking to buy in central wellington. *
 
 
That’s a lot of money.
 
17 Palm Ave, in Lyall Bay, sold too. The R.V. was $1,130,000, and the asking price was BEO $1,195,000, but at tender, it achieved an excellent result of $1,711,000 some $516,000 over the...
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