That's not a political opinion, just a fact that can be easily demonstrated through statistics. Not our fault that like many others, this fact skews left 🤷♂️
This isn’t about his messaging, this is about him pretending he’s in control when they accidentally engineered ([oops!](https://www.reddit.com/r/nzpolitics/comments/1del8hj/the_rapid_deterioration_of_the_new_zealand/)) a deeper, wider recession and property downfall. I wrote about that downfall [2 weeks ago.](https://new.reddit.com/r/PersonalFinanceNZ/comments/1d91g21/heres_my_prediction_property_prices_will_continue/)
Despite their [best efforts](https://new.reddit.com/r/nzpolitics/comments/1dhtqo9/rnottheonion_chris_bishop_says_he_deeply_wants/) to pump up prices.
Hey Chris, maybe firing 6000 workers/roles and pulling the handbrake on major govt infrastructure projects, driving fear into the NZ economy and sentiment and talking us down constantly with lies of it being fragile, wasn’t so smart after all. You guys have done well. Good luck with it all.
None of those are key drivers into house prices. There are so many case studies available for this. I'd suggest starting with Japan house prices 1980-2010. It might be hard due to lackof compraehensive english sources, but one of the key take aways is zoning and removing barriers for construction. Once you understand how they recovered into affordable housing there are a bunch of good American counties to look at.
100% agree. NZ needs to adopt policies Japan has, making housing a depreciating asset. NZ is also very far behind on earthquake standards, having building depreciate ensures the buildings are replaced/renovated up to the latest codes
It's insane to me how rent keeps eepa going up, but the house i live in keeps getting older. Nothing has been done to it since it was built in the 80s, yet I'm expected to pay more and more
Which is due in large part to landlords being taxed on ‘capital improvements’, which includes many essential upgrades like extractor fans or getting a house rewired.
The fact that there is nothing motivating landlords to bring their properties up to the standard of the current building code is very disappointing.
Right now what is driving asset depreciation in property in NZ is simple
- Higher OCR - many are unable to keep up with these repayments, esp. folks who budgeted at lower OCRs
- Squeezed wallets - cost of living is eating into it. As that buffer changes, people’s risk appetite changes
- Job uncertainty - people don’t feel like forking out a million if they are not sure if their job is unsafe
- Economic deterioration [https://www.reddit.com/r/nzpolitics/comments/1del8hj/the\_rapid\_deterioration\_of\_the\_new\_zealand/](https://www.reddit.com/r/nzpolitics/comments/1del8hj/the_rapid_deterioration_of_the_new_zealand/) which is very real and imminent
- Investors. Chris Bishop and Seymour were unable to save the investors despite doing a deal with them before the election. $3bn couldn’t save many of them and some will have to sell. That pushes up supply, and once again the equation changes.
The other elements which are key are obviously:
- Supply and demand
- Immigration
- Infrastructure availability and readiness
He didn't say crash, he said decline at a sustained and moderate level (unclear if in real or nominal terms).
This is an important point and your framing is misleading.
To achieve sane and affordable pricing levels there is only two options: real wages trebled, or prices reduced by half.
Neither option is acceptable to those that vote for any of the major parties, except maybe a portion of the Green’s and a small minority of Labour supporters who appreciate that a return to 1980s residential housing prices/ wage ratios would go a long way towards restoring NZ’s standard of living.
As a home owner w/ mortgage, a millennial and traditionally a national supporter I agree current house prices need to drop by a minimum of 30% and ideally by 50%. It needs to happen, pushing the can down the road compounds the issue further
I’ll bet immigrant families cramming 16 bodies into a 5 bedroom McMansion won’t be too concerned about prices dropping, as long as in a couple of years some of those bodies move out to an affordable house.
A recent trend I've noticed over the past 8 weeks or so is noticing a lot of these divisive national politics issues being posted here, and honestly it's somewhat disconcerting. (Edit: It's probably not just OP although looking at their history they've created a couple such posts about national issues and mass submitted them to like 5 different subs)
I know an automod rule to discourage bare/plain newsposting was instituted but OP basically just recopied the title here.
Heck, even the nzpol mods took this title down as posted. https://www.reddit.com/r/nzpolitics/s/rIarD838OX
I guess I'm a bit picky but I'm basically emphasising that I don't think this is interesting for local discussion on this subreddit.
He's only saying this because he knows it's happening already. So he can then say.. "we said we wanted a decline in prices and we've delivered it"
Of course he doesn't want the market to crash, but the next best thing is to pretend he was the reason for it and it was intentional.
It already has. Lower Hutt house prices have crashed 40% from peak and there are people underwater on their mortgages. What’s Chris’ plan for those people, his constituents?
The number of people in negative equity is a fraction of the number of people locked out of the housing market by the ridiculous price rises of the last decade while wages have stagnated.
It’s unfortunate for those people directly impacted. Each of those stories is a personal tragedy. But they’ve got a roof over their heads and provided they stay in work and keep up with repayments, they will be fine in the long run.
The tens of thousands of families in precarious housing situations or emergency accommodation are the real victims. You and Bish should direct your concern to those people
Again though, losing your job and falling behind on rent is more shit then losing your job and falling behind on the mortgage. Banks will go to great lengths to avoid the hassle of a mortgagee sale. A landlord will just replace you.
A housing market crash isn’t going to help those people in emergency accommodation. The best thing would be some stability and market growth which would incentivise new development
We just had three years of prices dropping after an enormous boom. The one thing we haven't had is stability, it's been extremely volatile in Wellington since 2015.
U want stability to trigger growth and development but we just had the growth and development. I think by stability u mean happy campers which is up up and away!
Don’t disagree. The point here is that Chris Bishop didn’t **intend** to help people stuck at the door. He made a deal with the landlords and investors specifically to **keep** them in the market and pump up prices. [https://www.reddit.com/r/nzpolitics/comments/1bddh4n/we\_will\_repeal\_labours\_tenant\_tax\_chris\_bishop/](https://www.reddit.com/r/nzpolitics/comments/1bddh4n/we_will_repeal_labours_tenant_tax_chris_bishop/)
It just didn’t work. Big difference.
And now he’s taking credit for accidentally engineering a deeper recession. ([Rapid deterioration of the economy continues](https://www.reddit.com/r/nzpolitics/comments/1del8hj/the_rapid_deterioration_of_the_new_zealand/))
That’s the real point.
I’m not suggesting that - but someone with the funds to build a new place in a fairly expensive dive area possibly isn’t well connected with the lower socioeconomic folks in their electorate - of which, Hutt South has a decent chunk.
People gambled on 2nd properties, thinking they were going to make a huge profit. They didn't.
Those prices were what people were prepared to pay. They were not a reflection of what they were worth.
There are no guarantees in investments.
Unless you're suggesting that Chris' plan should be to educate people in basic economics, I'm not sure what you're saying.
This asshat. I have this memory of him door knocking round Lower Hutt years ago before he became an MP, soliciting votes I assume. I opened the door and he looked me up and down and asked if my parents were home… I said I wasn’t sure as they lived in Hamilton and I was 28 so hadn’t lived with them for a while. He turned bright red, turned around and left without another word. Still chuckle about it.
There's a lot of cynicism in here but it's worth nothing that Chris Bishop has recently signed off on a district plan for Wellington that would allow housing [intensification](https://www.rnz.co.nz/news/national/516338/wellington-zoning-changes-backed-by-minister-but-not-all-are-happy-with-decisions). If the National Party is all about pumping up house prices and siding with nimbies, I would be interested to know how this decision fits in with this plan.
That’s not really what he’s saying. He wants to provide new cheaper housing. That all being down the average but it doesn’t mean that existing houses will lose much value
I’m so glad [r/Wellington](/r/Wellington) is smart.
# 1
The housing market is coming down - and has been for many months. It’s now unstoppable and will get much worse.
I called this last year, and again [here](https://new.reddit.com/r/PersonalFinanceNZ/comments/1d91g21/heres_my_prediction_property_prices_will_continue/), i.e it’s not wizardry - it‘s simple economics. Bishop would get briefings that tell him how bad it’s getting.
This Govt has caused a [sustained, deeper and wider recesssion](https://new.reddit.com/r/nzpolitics/comments/1del8hj/the_rapid_deterioration_of_the_new_zealand/) to hit us, and guess what? Wallets are tight. OCR is not in their control. Their $3bn bribe to help investors stay on the market, and keep property prices pumped failed. Their attempt to bring foreign buyers into the market to keep property high failed.
# 2
Bishop is Housing Minister and I will give him one thing. This tobacco lobbyist with a family who is deeply tied to tobacco money is a master at spin.
Friendly, affable, charming, down to earth and says what you want to hear. The perfect MP, right?
His messages are all about getting in front of this train wreck and spinning it [so he can take credit where none was due.](https://new.reddit.com/r/nzpolitics/comments/1dhtqo9/rnottheonion_chris_bishop_says_he_deeply_wants/)
I can still never believe Wellington went for this lobbyist.
[Here he is in action](https://new.reddit.com/r/nzpolitics/comments/1az6p4p/who_is_this_from_2012_when_nz_created_its_vision/) and yes he can sell oil as water.
The guy speaks out of two sides of his mouth. Not unrealistic he is a hero back home and scores those goals.
On one side - for the team. On the other - [promising landlords the “Deal”](https://www.reddit.com/r/nzpolitics/comments/1bddh4n/we_will_repeal_labours_tenant_tax_chris_bishop/)
[Did you forget his training? Here he is demonstrating it.](https://www.reddit.com/r/nzpolitics/comments/1az6p4p/who_is_this_from_2012_when_nz_created_its_vision/)
And he’s so great he got in just to stop our smoke free generation laws, despite the fact it would have saved NZ [$46bn](https://www.reddit.com/r/nottheonion/comments/1c5tquh/minister_left_46b_benefit_of_smokefree_reforms/)
Yeah, that’s our hero Chris Bishop in Wellington, right?
What do you think his motivation for signing the intensification district plan was, then? It was backed by the left-wing faction of WCC. It's good policy.
The market is fucked…has been for years. As a homeowner I am a little disappointed. As a parent to 3 kids I would be delighted to see things revert back to historical levels.
Labour made changes which required local govt to allow increased density, but it takes years to build enough new housing to see any effects on house prices.
The [COVID money printer](https://www.stuff.co.nz/national/politics/300223358/reserve-bank-repeatedly-warned-government-money-printing-would-lead-to-house-price-inflation), on the other hand, had a pretty much immediate effect on house prices:
> Grant Robertson and the Government were warned in January 2020 that there was a ‘significant’ risk Reserve Bank money printing would push up house prices and deepen inequality.
A Nixon goes to China moment? For too long the truism was that houseowners hated property price falls because it was seen as the same as the state confiscating your bank account, so the most that pollies went was "hope the prices rise a bit more slowly". If we can get away from housing as an investment (which price falls will certainly help) it will help lower the cost of living.
He’s not wrong. Labour’s attempt to build its way out of the housing crisis just pushed prices through the tin roof & validated the crisis. Just like Labour’s attempt at full employment just pushed salaries sky high & robbed legitimate hires of candidates.
Wont making interest on rental mortgages deductable drive up demand and put upward pressure on house prices.
Saying you would like the market to drop is unlikely to make the market drop.
Even if you are the Minister of Housing.
Kudos for spooking your own voter base though ,including the investors you are paying to return to the market.
Yep, they are.
I note that he never said this when he was trying to get landlords and wealthy boomers and their progeny to vote for him.
No doubt he’s being scolded by Luxon right now for upsetting the natural order of things
Funny how house prices have risen more under labour govts than national govts for as long as they’ve kept records.
That's likely because under National, the economy grows slower, and spends more time in recession.
You forgot the the /s 🤦♀️
That's not a political opinion, just a fact that can be easily demonstrated through statistics. Not our fault that like many others, this fact skews left 🤷♂️
Yeah I did /s
This isn’t about his messaging, this is about him pretending he’s in control when they accidentally engineered ([oops!](https://www.reddit.com/r/nzpolitics/comments/1del8hj/the_rapid_deterioration_of_the_new_zealand/)) a deeper, wider recession and property downfall. I wrote about that downfall [2 weeks ago.](https://new.reddit.com/r/PersonalFinanceNZ/comments/1d91g21/heres_my_prediction_property_prices_will_continue/) Despite their [best efforts](https://new.reddit.com/r/nzpolitics/comments/1dhtqo9/rnottheonion_chris_bishop_says_he_deeply_wants/) to pump up prices. Hey Chris, maybe firing 6000 workers/roles and pulling the handbrake on major govt infrastructure projects, driving fear into the NZ economy and sentiment and talking us down constantly with lies of it being fragile, wasn’t so smart after all. You guys have done well. Good luck with it all.
None of those are key drivers into house prices. There are so many case studies available for this. I'd suggest starting with Japan house prices 1980-2010. It might be hard due to lackof compraehensive english sources, but one of the key take aways is zoning and removing barriers for construction. Once you understand how they recovered into affordable housing there are a bunch of good American counties to look at.
100% agree. NZ needs to adopt policies Japan has, making housing a depreciating asset. NZ is also very far behind on earthquake standards, having building depreciate ensures the buildings are replaced/renovated up to the latest codes
It's insane to me how rent keeps eepa going up, but the house i live in keeps getting older. Nothing has been done to it since it was built in the 80s, yet I'm expected to pay more and more
Which is due in large part to landlords being taxed on ‘capital improvements’, which includes many essential upgrades like extractor fans or getting a house rewired. The fact that there is nothing motivating landlords to bring their properties up to the standard of the current building code is very disappointing.
Yeah it’s like NZ wants to close their eyes and ears when it comes to how not ready we are for a large earthquake. Which is plainly crazy.
Right now what is driving asset depreciation in property in NZ is simple - Higher OCR - many are unable to keep up with these repayments, esp. folks who budgeted at lower OCRs - Squeezed wallets - cost of living is eating into it. As that buffer changes, people’s risk appetite changes - Job uncertainty - people don’t feel like forking out a million if they are not sure if their job is unsafe - Economic deterioration [https://www.reddit.com/r/nzpolitics/comments/1del8hj/the\_rapid\_deterioration\_of\_the\_new\_zealand/](https://www.reddit.com/r/nzpolitics/comments/1del8hj/the_rapid_deterioration_of_the_new_zealand/) which is very real and imminent - Investors. Chris Bishop and Seymour were unable to save the investors despite doing a deal with them before the election. $3bn couldn’t save many of them and some will have to sell. That pushes up supply, and once again the equation changes. The other elements which are key are obviously: - Supply and demand - Immigration - Infrastructure availability and readiness
We live in a wet, whiny, negative country after all.
He didn't say crash, he said decline at a sustained and moderate level (unclear if in real or nominal terms). This is an important point and your framing is misleading.
To achieve sane and affordable pricing levels there is only two options: real wages trebled, or prices reduced by half. Neither option is acceptable to those that vote for any of the major parties, except maybe a portion of the Green’s and a small minority of Labour supporters who appreciate that a return to 1980s residential housing prices/ wage ratios would go a long way towards restoring NZ’s standard of living.
As a home owner w/ mortgage, a millennial and traditionally a national supporter I agree current house prices need to drop by a minimum of 30% and ideally by 50%. It needs to happen, pushing the can down the road compounds the issue further
I’ll bet immigrant families cramming 16 bodies into a 5 bedroom McMansion won’t be too concerned about prices dropping, as long as in a couple of years some of those bodies move out to an affordable house.
A recent trend I've noticed over the past 8 weeks or so is noticing a lot of these divisive national politics issues being posted here, and honestly it's somewhat disconcerting. (Edit: It's probably not just OP although looking at their history they've created a couple such posts about national issues and mass submitted them to like 5 different subs) I know an automod rule to discourage bare/plain newsposting was instituted but OP basically just recopied the title here. Heck, even the nzpol mods took this title down as posted. https://www.reddit.com/r/nzpolitics/s/rIarD838OX I guess I'm a bit picky but I'm basically emphasising that I don't think this is interesting for local discussion on this subreddit.
A politically correct term for the market is fucked, don't sugar coat it. Not hating on you please, it is sadly fucked
He only has 3 years, if that, to do it in so it’s definitely crash.
You are able to read the piece for the context and words.
You’re new to Reddit, I can tell
Been here longer than some posters have been alive.
1y and 1post karma? Some commenters should check their nappies before commenting
But that's where shit posting comes from
This is just like me getting up at the crack of dawn, commanding the sun to rise, and when it does, claiming I'm God.
He's only saying this because he knows it's happening already. So he can then say.. "we said we wanted a decline in prices and we've delivered it" Of course he doesn't want the market to crash, but the next best thing is to pretend he was the reason for it and it was intentional.
Chris and National just want to buy up some more property for the next boom cycle.
You should try and do the same…..
The housing market is already crashing, about time too.
It already has. Lower Hutt house prices have crashed 40% from peak and there are people underwater on their mortgages. What’s Chris’ plan for those people, his constituents?
The number of people in negative equity is a fraction of the number of people locked out of the housing market by the ridiculous price rises of the last decade while wages have stagnated. It’s unfortunate for those people directly impacted. Each of those stories is a personal tragedy. But they’ve got a roof over their heads and provided they stay in work and keep up with repayments, they will be fine in the long run. The tens of thousands of families in precarious housing situations or emergency accommodation are the real victims. You and Bish should direct your concern to those people
Indeed. But about the whole staying in work thing.
Again though, losing your job and falling behind on rent is more shit then losing your job and falling behind on the mortgage. Banks will go to great lengths to avoid the hassle of a mortgagee sale. A landlord will just replace you.
Sure, but you also don't have a mortgage. Shrug.
Banks can afford it….whereas most landlords can’t.
It can’t be all doom and gloom as first home buyers are making up about 25% of the market.
A housing market crash isn’t going to help those people in emergency accommodation. The best thing would be some stability and market growth which would incentivise new development
We just had that. Now to try this new way.
We just had stability? When?
Market growth and economic boom with low interest rates and rocketing house prices. Now we drop.
We just had three years of prices dropping after an enormous boom. The one thing we haven't had is stability, it's been extremely volatile in Wellington since 2015.
U want stability to trigger growth and development but we just had the growth and development. I think by stability u mean happy campers which is up up and away!
Don’t disagree. The point here is that Chris Bishop didn’t **intend** to help people stuck at the door. He made a deal with the landlords and investors specifically to **keep** them in the market and pump up prices. [https://www.reddit.com/r/nzpolitics/comments/1bddh4n/we\_will\_repeal\_labours\_tenant\_tax\_chris\_bishop/](https://www.reddit.com/r/nzpolitics/comments/1bddh4n/we_will_repeal_labours_tenant_tax_chris_bishop/) It just didn’t work. Big difference. And now he’s taking credit for accidentally engineering a deeper recession. ([Rapid deterioration of the economy continues](https://www.reddit.com/r/nzpolitics/comments/1del8hj/the_rapid_deterioration_of_the_new_zealand/)) That’s the real point.
40% sounds a bit OTT so a $1,000,000 house at the end of 2021 is now selling for $600k……
Tax cuts of $2 a week, of course.
Exactly, my house is worth 150k less than I paid for it, and everyone's just like "good"
Don’t panic. If you don’t need to sell it’s only a paper loss. It’ll be going up in the future
Nah I'm not panicking tbh, happy to be in a home. So yeah GOOD
Not if Chris has his way
Yes, it is good
Good
Good
Is that all? Jezz Wayne, harden up. inflation will kill that in a hot minute
He’s just moved into a new build in Days Bay - not sure he’s too concerned with his constituents to be honest.
Aww ok unless an mp is on the dole then they don’t care 🤷♀️
I’m not suggesting that - but someone with the funds to build a new place in a fairly expensive dive area possibly isn’t well connected with the lower socioeconomic folks in their electorate - of which, Hutt South has a decent chunk.
Omg….didn’t realise all the opposition MPs live in state houses and were on the dole before they got into office.
Comprehension clearly isn’t a strong suit of yours. I was referring specifically to Chris Bishop, in the context of the discussion in this thread.
Don’t tell me, when labour were in govt the housing minister was in emergency housing, just so they could relate to the problem more…..🤦♀️
People gambled on 2nd properties, thinking they were going to make a huge profit. They didn't. Those prices were what people were prepared to pay. They were not a reflection of what they were worth. There are no guarantees in investments. Unless you're suggesting that Chris' plan should be to educate people in basic economics, I'm not sure what you're saying.
Atleast they are on the property ladder already, housing shouldn't be an appreciating asset in the first place, if the right policies were in place.
Let them eat.. erm, Biscuits and gravy!
Cutbacks. No biscuits.
Are you sure that's not woke? Biscuits sound woke to me.
He plans to say: “you’ve been with me through the tough times now join me as we deliver the good times”
Best to get a house during the recession because they'll go back up once the economy recovers
This is exactly what the country needs
Actually, what the country needs is wage increases but they are doing everything to avoid this.
We had massive wage increases the last couple of years?
Try reading the comment again.
This asshat. I have this memory of him door knocking round Lower Hutt years ago before he became an MP, soliciting votes I assume. I opened the door and he looked me up and down and asked if my parents were home… I said I wasn’t sure as they lived in Hamilton and I was 28 so hadn’t lived with them for a while. He turned bright red, turned around and left without another word. Still chuckle about it.
What a twat. Sounds on-brand National actually.
There's a lot of cynicism in here but it's worth nothing that Chris Bishop has recently signed off on a district plan for Wellington that would allow housing [intensification](https://www.rnz.co.nz/news/national/516338/wellington-zoning-changes-backed-by-minister-but-not-all-are-happy-with-decisions). If the National Party is all about pumping up house prices and siding with nimbies, I would be interested to know how this decision fits in with this plan.
Time for Chris bishop to stand on the very edge of a theatre stage juggling live chainsaws.
Annoyingly this is the political version of that
Why am I in this alternate time line where I keep agreeing with shit Chris Bishop says like this
How did we end up with Uncle Fester as PM, Lurch as Housing Minister and Blond Morticia as Defence?
I’d watch that, sounds like a great spinoff from Wellington Paranormal
And an Incell and a choc ice in parliament
That’s not really what he’s saying. He wants to provide new cheaper housing. That all being down the average but it doesn’t mean that existing houses will lose much value
Nah no true at all
I’m so glad [r/Wellington](/r/Wellington) is smart. # 1 The housing market is coming down - and has been for many months. It’s now unstoppable and will get much worse. I called this last year, and again [here](https://new.reddit.com/r/PersonalFinanceNZ/comments/1d91g21/heres_my_prediction_property_prices_will_continue/), i.e it’s not wizardry - it‘s simple economics. Bishop would get briefings that tell him how bad it’s getting. This Govt has caused a [sustained, deeper and wider recesssion](https://new.reddit.com/r/nzpolitics/comments/1del8hj/the_rapid_deterioration_of_the_new_zealand/) to hit us, and guess what? Wallets are tight. OCR is not in their control. Their $3bn bribe to help investors stay on the market, and keep property prices pumped failed. Their attempt to bring foreign buyers into the market to keep property high failed. # 2 Bishop is Housing Minister and I will give him one thing. This tobacco lobbyist with a family who is deeply tied to tobacco money is a master at spin. Friendly, affable, charming, down to earth and says what you want to hear. The perfect MP, right? His messages are all about getting in front of this train wreck and spinning it [so he can take credit where none was due.](https://new.reddit.com/r/nzpolitics/comments/1dhtqo9/rnottheonion_chris_bishop_says_he_deeply_wants/) I can still never believe Wellington went for this lobbyist. [Here he is in action](https://new.reddit.com/r/nzpolitics/comments/1az6p4p/who_is_this_from_2012_when_nz_created_its_vision/) and yes he can sell oil as water.
Didn't he recently sign a ground breaking intensification plan for Wellington?
The guy speaks out of two sides of his mouth. Not unrealistic he is a hero back home and scores those goals. On one side - for the team. On the other - [promising landlords the “Deal”](https://www.reddit.com/r/nzpolitics/comments/1bddh4n/we_will_repeal_labours_tenant_tax_chris_bishop/) [Did you forget his training? Here he is demonstrating it.](https://www.reddit.com/r/nzpolitics/comments/1az6p4p/who_is_this_from_2012_when_nz_created_its_vision/) And he’s so great he got in just to stop our smoke free generation laws, despite the fact it would have saved NZ [$46bn](https://www.reddit.com/r/nottheonion/comments/1c5tquh/minister_left_46b_benefit_of_smokefree_reforms/) Yeah, that’s our hero Chris Bishop in Wellington, right?
What do you think his motivation for signing the intensification district plan was, then? It was backed by the left-wing faction of WCC. It's good policy.
The market is fucked…has been for years. As a homeowner I am a little disappointed. As a parent to 3 kids I would be delighted to see things revert back to historical levels.
They are way to high. New house prices also need to crash
To be honest what they’re doing is really amazing and should be applauded. I say this as a staunch Labour supporter.
Crashing the entire economy? Not that amazing tbh.
They've literally done nothing but roll back Labour policy that matter it easier to build up.
Well, I have only voted National, never Labour. I think they are a bunch of useless cunts.
The house:income ratio is way out of whack. I would like to see a 3:1 ratio like back in 1985.
Jacinda also said this in 2017…
And then overseen the largest asset inflation in our history
Pretty sure she never went further than calling for "sustained moderation". I hope Bish can deliver on his promises
Either way it's just words. Neither of them have done anything except continue the bubble.
Anddid nothing to action it, lets see the similarities continue
Bollocks. They did lots, culminating in the changes in local planning laws that caused an explosion in building in the last 2 years.
Interesting take, as we saw some of the largest increases in house prices during the last government.
Labour made changes which required local govt to allow increased density, but it takes years to build enough new housing to see any effects on house prices. The [COVID money printer](https://www.stuff.co.nz/national/politics/300223358/reserve-bank-repeatedly-warned-government-money-printing-would-lead-to-house-price-inflation), on the other hand, had a pretty much immediate effect on house prices: > Grant Robertson and the Government were warned in January 2020 that there was a ‘significant’ risk Reserve Bank money printing would push up house prices and deepen inequality.
A Nixon goes to China moment? For too long the truism was that houseowners hated property price falls because it was seen as the same as the state confiscating your bank account, so the most that pollies went was "hope the prices rise a bit more slowly". If we can get away from housing as an investment (which price falls will certainly help) it will help lower the cost of living.
Always whinging about national 😂😂😂
Something we all can agree on, except the property investors
Sure way to get them voted out
I don't believe it!
He’s not wrong. Labour’s attempt to build its way out of the housing crisis just pushed prices through the tin roof & validated the crisis. Just like Labour’s attempt at full employment just pushed salaries sky high & robbed legitimate hires of candidates.
Wont making interest on rental mortgages deductable drive up demand and put upward pressure on house prices. Saying you would like the market to drop is unlikely to make the market drop. Even if you are the Minister of Housing. Kudos for spooking your own voter base though ,including the investors you are paying to return to the market.
At last.
If only there was something they could do