John Key blaming Helen Clark for his Housing Crisis is like blaming John Campbell for the state of Journalism

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This is hilarious…

John Key blames Helen Clark for housing crisis

Labour wants a state of emergency declared over the housing crisis, particularly in Auckland where prices are at record highs and still rising.

Opinion: Labour’s state of emergency call insensitive and idiotic
Prime Minister John Key says that won’t happen, and the housing crisis – if it is one – is not his fault.

“Under the nine years that Helen was Prime Minister, my friend, nationally house prices went up 102 percent. Under us in eight years, they’ve gone up 43. In Auckland they went up 87 percent I think – under us it’s about the same,” he said.

“If it was a state of emergency now, a crisis now, why wasn’t it a state of emergency and a crisis then?”

In a look at historic house prices earlier this year, the Reserve Bank called Auckland’s latest boom “an unprecedented divergence”. Though percentage increases year-on-year might have been lower during Mr Key’s tenure, prices are increasing faster now because they’re adding to a larger base cost than when Ms Clark took the reins in 1999.

“House prices in Auckland have doubled on his watch,” says Mr Twyford.

..this is inane. The Housing Crisis has increased under Key’s Leadership. He won’t even admit there is an actual problem, and if there was, it’s all Helen Clark’s fault?

This is the ‘Leadership’ NZ voted for is it? The reason Key can’t admit there’s a Housing Criss is because people who vote National benefit from the property bubble Key has created via lazy immigration and because the speculation is the only thing keeping the economy ‘growing’.

John Key blaming Helen Clark for his Housing Crisis is like blaming John Campbell for the state of Journalism.

A new low for our PM.

25 COMMENTS

    • The latest excuse from Key…

      “Asked if it was time to reduce immigration levels until the heat was taken out of the property market, Key said he viewed the fact many New Zealanders were choosing to stay in the country or return from overseas as a positive.”

      People choosing to stay aren’t immigrants, idiot Key.
      And if you measure N.Z. citizens returning as a positive then allow only N.Z. citizens to return or limit non N.Z. immigrants. Simple really John or are you just simple.

      • Notice the nats never publish the actual figures of how many Kiwis are actually coming back. Makes one think that it’s not as many as the nats says it is.

  1. And Paula Bennett stating that Phil Goff doesn’t ” engage his brain before he opens his mouth” is like saying Paula Bennett is Einstein!

    I’ll say this only once Paula, you have no credibility and I’ll give you $5000 to leave parliament!

      • Her head will be “on the block”, I suppose.

        But remember also ‘The Block’ on TV, that series where our young and glorified builder and developer “heroes” do up homes to auction them off expensively?

        I just read an article in our local paper this weekend. “No longer on The Block” was the title in the Central Leader here in Auckland. It told us that four houses from the first season of that program, done up in Takapuna, were only bought by a developer, Auburn Development Ltd, to remove them and build a six storey apartment complex there.

        The done up homes would be “carted off”, it said, to other parts in Auckland.

        So while the TV program may “sell” us the story how successful the doing up was, gaining such values in property as reported in the media, the developer was not really interested in the homes, but the land, zoned for intensification. You can bet the apartments will NOT BE AFFORDABLE to any ordinary mortals, like workers or homeless from South Auckland.

        This is what goes on in Auckland, but we have NO crisis, Mr Key says. Read more about all the background stuff here:
        http://m.nzherald.co.nz/entertainment/news/article.cfm?c_id=1501119&objectid=11696718

        ” But the houses’ days are numbered.

        In a story that the NZ Herald broke last November it was revealed that the million dollar do-ups would be removed to make way for nearly 100 high-rise apartments. The houses are reportedly set to be taken away from October 1, with onstruction set to begin in December.

        The properties at 74, 76, 78 and 80 Anzac St, Takapuna were done up by inaugural Block couples Rachel and Tyson, Sarah and Richard, Ben and Libby and Ginny and Rhys.”

        http://www.stuff.co.nz/life-style/home-property/house-of-the-week/83324267/The-Block-houses-double-in-price-in-less-than-three-years

        http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11686676

  2. Phil Goff has a point: restriction to our almost open-door migration that Steven Joyce et al. are so fond of. The same point that Winston has made.

    These may be populist viewpoints: but see this interesting quote from Francis Fukuyama in a recent long opinion piece by Martin Jacques in the Guardian: “Populism is the label that political elites attach to policies supported by ordinary citizens that they don’t like”.

    • That’s a very good quote !

      The other part of the story to house price rises is housing affordability.
      Wages have either been static or rising at 1%- 2% per annum over the last 8 years while house prices have consistently been rising by 10 -20 % per annum.
      How can that possibly be even allowing for slightly lower interest rates?
      Allowing large volumes of ‘out of town people’ with large volumes of cash (acquired by God only knows what means), to buy up large volumes of our houses who have not had to earn and save under N.Z economic conditions. That’s how .
      An extremely dispiriting and futile situation for any non home owner to have to deal with.
      What could be more treasonous than shutting born and bred Kiwis out of any chance of buying their own home no matter how modest.
      National have been useless from the ‘get go ‘.
      They are not a Government . Just a bunch of 1980’s ‘wide boys’.
      A clueless disgrace !!

  3. It wasn’t so long ago, in the 1990s, in fact, that New Zealand had a high level of home ownership compared to other countries. Not so anymore. We now have what has been described as the second worst housing affordability problem in the world.”

    ….

    “Economics 101 would tell you that if the demand for housing outstrips supply, then the only way for house prices to go is up, up, up. So, if we’re going to do something about home affordability we need to do something about the factors strangling the supply of housing.”
    – John Key 2007

    http://www.scoop.co.nz/stories/PA0708/S00336.htm

    But JK was going to fix this. How did that pan out?
    Also, this whole ‘Labour did it’ excuse is beyond worn out. They have had 8 years to do something about it!

  4. Nactional are in full flight of denial and will wreck our economy inside one year from now, so sell up before the slump hits folks.

    Remember the Subprime scandal?

    This was the disaster that bought us the 2008 financial crisis!!!!!

    Well Key is repeating it again here in NZ all on his own.

    http://www.investopedia.com/articles/07/subprime-blame.asp

    Anytime something bad happens, it doesn’t take long before blame starts to be assigned. In the instance of subprime mortgage woes, there is no single entity or individual to point the finger at. Instead, this mess is a collective creation of the world’s central banks, homeowners, lenders, credit rating agencies and underwriters, and investors. Let’s investigate.

    The Mess
    The economy was at risk of a deep recession after the dotcom bubble burst in early 2000; this situation was compounded by the September 11 terrorist attacks that followed in 2001. In response, central banks around the world tried to stimulate the economy. They created capital liquidity through a reduction in interest rates. In turn, investors sought higher returns through riskier investments. Lenders took on greater risks too, and approved subprime mortgage loans to borrowers with poor credit. Consumer demand drove the housing bubble to all-time highs in the summer of 2005, which ultimately collapsed in August of 2006. (For an in-depth discussion of these events, see The Fuel That Fed The Subprime Meltdown.)

    Read more: Who Is To Blame For The Subprime Mortgage Crisis? | Investopedia http://www.investopedia.com/articles/07/subprime-blame.asp#ixzz4IhbMdwLA
    Follow us: Investopedia on Facebook

  5. Did I hear FJK say on National Radio morning, there are 40 houses a day being completed in Auckland at the moment?

    And we have to keep in mind this is all Putin’s fault.

  6. Clark and Cullen introduced negative gearing, and Clark even thought immigration was the only way New Zealand could maintain growth in GDP.

    So, this time anyway, it is their bloody fault. The National party totally lacked the imagination or natural inclination to do either thing.

    National also lack the imagination to do more than pay lip service to solving the problem. This time round it will be their downfall.

  7. I think this approach by JK could really back fire. They (Nats) have nowhere to go on this one. The Spinoffs poll of Aucklanders show they are well aware of the housing crisis. Denying it, pointing blame at Helen Clark is not going to wash with a lot of people.

    The housing crisis is effecting people across the board. And people can’t deny it.

  8. I would say (but not in John Key’s defence) that the time to act on house prices was around 2000. Things were already getting out of hand then. Now things have just gone into hyper reality. I’m almost looking forward to medium Auckland house prices reaching the $2 million mark. New Zealanders will have left the market completely (apart from those borrowing on the rising value of houses they already own). It will be chaos as either landlords are forced to keep rents at a level where they find tenants or half of Auckland lives in cars or leaves the city. But it will be spectacular, like a skyrocket firing ever higher into the sky before it bursts and rains debris on everyone below.

  9. I suppose John Key BLAMES his mother for having grown up in a state house? Or was Pluto in the astrological house of filthy riches, at the hour he was born, for excusing Key’s ride to riches (as currency trader and merchant banker), out of the “poverty” he grew up in?

    I suppose the full moon stood in the wrong place, when something went wrong for John Key, and besides of all this, it is always Labour’s fault anyway, as they were last in government.

  10. That’s good. So does this mean Key and the nat government are going reinstate the special benefit Labour abolished in 2004, extend WFF tax credits to beneficiaries that Labour restricted to people with jobs and repeal the Social Security Amendment Act 2007 so that more homeless people can afford to sleep in houses instead of in cars? Gee, thanks John.

  11. Way back around 2005 I said Clark et al were running an immigration based economy, and the result would be Kiwi’s being landless peasants in our own country.
    Another ‘I told ya so’ moment? 😉
    .
    Lets not forget this one – www,22After.com

  12. John Key is a sock puppet for Obama and Hillary Clinton .Hillary Clinton taught John Key to blame everyone but himself as she does.
    Clinton blames staff , and Putin or Trump.Key blames Labour and the girls who”s pony tails he pulls , “it was political” Now its Helen Clarke.

  13. Those kind of lies may have worked for the first few years on the average mouth breather.
    Lucky he mentioned it as I would never have dreamed the Labour party was so strong and powerful to be able to control the economy for years and years after they got voted out and National is so incompetent and unable to come up with a single idea to combat escalating problems.

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