BERNARD HICKEY SHOWS HIS TRUE COLOURS - VOTE NATIONAL and we will SMASH the WORKERS... and reward JOHN KEY Fans.
Here we go again...
PEOPLE
Bernard Hickey (who I consider to be an AWESOME FINANCIAL COMMENTATOR and who I have followed for many years) HAS SHOWN HIS HAND.
Below is reproduced for your information, Bernard's BLOGS from the last two days.
That's OK with me.
At least we know now (this must be news to few) his BIAS, and we can be ALERT to it when reading his BLOG going forward.
Given his extensive Finance Industry career and large RIGHT WING (Business Savvy) following, there is NO SURPRISE HERE.
DISCLOSURE: I (Paul I. Hickman B.Com) have a lengthy career myself as an Accountant and Serial Entrepreneur, however I VOTE for the benefit of the PEOPLE, rather than for those who prefer to sit back, put their feet up, add virtually ZERO value to anything, (and often DESTROY VALUE) and GET RICH most of the time from the PASSIVE SPOILS that CAPITALISM has always provided (except when it CRASHES HARD).
If you are a Property Owner, (which I have very happily always avoided becoming) Landlord, Chinese, or WORKER who LOVES JOHN KEYS BEHIND the SCENES INFLUENCE, then you will be DANCING IN THE STREETS to read Bernard’s THRILLING PREDICTION.
However, if you are the REST OF US, Renters and UNDERPAID Hard Workers (who do the WORK that CREATES most of THE VALUE) then now would be a GREAT TIME to stock up on TISSUES and have a good SOB.
Bernard's BLOGS
Wednesday 13 September 2023.
First home buyers and landlords are staring down the barrel of an immediate 20% jump in residential land values on October 15 if the last of a swathe of polls this week showing a clear National-ACT win on October 14 prove to be accurate.
REINZ figures out yesterday (full report below) confirmed buyers have a whiff of what land values would do after:
the immediate removal of interest deductibility for landlords’ tax bills;
the shortening the bright-line test for capital gains taxation for landlords from 10 years to two years;
immediately stopping Kainga Ora building and freezing public transport spending, which would also freeze multiple large rental property development plans;
allowing foreign buyers over $2 million back into the market;
tightening fiscal policy, which in theory should take pressure off interest rates; and,
further ramping up migration numbers from the already-record-high 96,300 in the year to July.
The open homes and auctions in the days of spring after a change of Government will unleash a wave of FOMO buying and unlock a swathe of sellers waiting for prices to return to the CV levels recorded at the peak in 2021, in my view.
Thursday 14 September 2023.
Thursday’s Chorus: Brace for a 20% price jump
REINZ data shows house prices bouncing in anticipation of National-ACT win; 1NewsVerian poll confirms National-ACT can win alone; In my view, residential land prices jump 20% on Oct 15 if polls are right.
TL;DR: First home buyers and landlords are staring down the barrel of an immediate 20% jump in residential land values on October 15 if the last of a swathe of polls this week showing a clear National-ACT win on October 14 prove to be accurate.
REINZ figures out yesterday (full report below) confirmed buyers have a whiff of what land values would do after:
the immediate removal of interest deductibility for landlords’ tax bills;
the shortening the bright-line test for capital gains taxation for landlords from 10 years to two years;
immediately stopping Kainga Ora building and freezing public transport spending, which would also freeze multiple large rental property development plans;
allowing foreign buyers over $2 million back into the market;
tightening fiscal policy, which in theory should take pressure off interest rates; and,
further ramping up migration numbers from the already-record-high 96,300 in the year to July.
The open homes and auctions in the days of spring after a change of Government will unleash a wave of FOMO buying and unlock a swathe of sellers waiting for prices to return to the CV levels recorded at the peak in 2021, in my view.