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National needs to deal with the real barriers to home ownership

Source: Labour Party – Press Release/Statement:

Headline: National needs to deal with the real barriers to home ownership

David Shearer  | 
Sunday, August 11, 2013 – 17:37

Tweaks to KiwiSaver will be little consolation to the thousands of would-be home owners searching this weekend’s property pages for an affordable home, Labour Leader David Shearer says.

“Changes to Kiwisaver rules and an increase in price caps are worth supporting, but much more is needed to take the heat out of the property market.

“After five years in office and five years of soaring house prices, National’s offering today is disappointing. Prospective home buyers would have been anticipating a major announcement rather than more tinkering.

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“National needs to address the two major drivers of house prices – the shortage of affordable homes and speculators. It’s time to stop dancing around the problem and offer some real solutions. First home buyers need affordable options.

Labour’s KiwiBuild policy will build 100,000 affordable homes over 10 years to increase the supply of entry-level housing. 

“I am also determined to reduce speculation-driven demand in our housing market. Labour will restrict sales to overseas speculators and clamp down on speculators here through a capital gains tax on houses bought over and above their own home.

“Kiwis should be at the head of the queue when it comes to home ownership. My plan will give first home buyers a realistic chance to get into an affordable home that they can call their own.”

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  1. at some point all this house fuled dept is going to come to back, depts that cant be repaid wont be repaid, i hope ordinary savers wont be tapped to bailout the stupid reckless and greedy. ireland, usa,greece ,spain, portugal,uk,canada ,australia, have all pumped up house prices dept fuled binges sooner or latter all bubbles burst and the tears begin!

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