> As a property investor, I can't complain too much about this latest property boom, it's certainly done great things for my net worth.  But I certainly
> feel sorry for first home buyers who now need to pay $300k, and floating interest rates at around 10%, simple math says that they need to come up with
> $30k a year just to pay the interest, let alone any principal.
>
> But I wouldn't be complaining if house prices were still cheap - I'd be able to afford to buy more.

And its fear of upsetting property investors (favourite kiwi item) that
impedes action. you see your house price soar which seems like good
thing till you realise your children cant affort to buy. meanwhile, more and
more people have to rent so easy for residential property investors to
make their returns. The end result isnt my dream for NZ though.

----------------------------------------------------------
Phil Scadden, GNS Science Ltd
764 Cumberland St, Private Bag 1930, Dunedin, New Zealand
Ph +64 3 4799663, fax +64 3 477 5232

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