Answer
Their escalation will end; this will give us time to lift real incomes so that the ratio of the average house price to the median income will drop from 9 times in Auckland and 6 nationwide back closer to historical norms.
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If people thought John Key had lost touch ‘with the people’ it’s pretty clear you’re not even in touch with the ground.
So, pray tell me Great Oracle …
Q) what on earth are young people supposed to do for housing when prices are sky high, there’s massive competition for rentals and they can see that low interest rates mean it’s a better opportunity than paying spiralling rents? Sleep in their cars … so, that’s actually NATIONAL POLICY Isn’t it … so whats new here at ToP ?
A) do what lots of them are already doing and push off to Australia where they can make more money, pay less tax, and offer that (and other countries) the skills that we so desperately need here at home, and as a side effect reduce the amount government income to exacerbate the looming super crisis – which you intend to solve by taxing people who worked and saved all their lives to own their own homes?
Something like this happened in France… the people were having a hard time and the politicians were denying the problems that existed.
Marianne Antoinette was reached and pleaded with on behalf of the poor
“The people have no bread”
Then, let them eat (cattle) cake
She was amongst the first to meet Madame Guillotine … and if you’s been there you’d surely ave been a close second.
Oliver, We need a roof over our head. We scrimp & save so our costs for living with a roof over our head isn’t dictated to us by a person (or corporation) that doesn’t care because they’ll get someone else if not us. Becoming a landlord again is looking even more attractive to me.
And what happens to eg first time or family buyers who have been forced to compete and buy in an inflated market and will quickly find themselves in negative equity with debts that far exceed the value of their home?
Those people did NOT create the dual housing / housing price crises
Failure to do so is old school political weaselry and I’m sure that’s not part of the ToP Plan ???