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.
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.