John Key is desperately thrashing around pretending like he’s actually doing something about the housing crisis so that middle NZ get conned again.
He’s now taken to trying to claim it’s all the Reserve Governors fault.
Bullshit.
Who has opened up our borders to allow tens of thousands of foreign students to flood the country taking up houses, straining infrastructure and driving down labour costs because they are mistreated and abused by unscrupulous employers who hold onto their passports?
John Key did.
Who refused to initiate a real Capital Gains tax so the property speculating middle classes feel rich?
John Key did.
Who has focused only on the supply side so no efforts actually pop the bubble?
John Key has.
Who has forced thousands of tenants out of state houses onto the streets?
John Key has.
Who has thrown tens of thousands off welfare without bothering to see what happens to them afterwards?
John Key does.
Who oversaw our homelessness leap to 40 000?
John Key did.
Who allowed our trust laws to become tax havens where organised crime proceeds are laundered?
John Key did.
The grim reality is that Key has zero interest in popping the bubble as it’s the only thing propping up the economy.
Attempting to pretend this housing crisis that his policies have created is somehow someone else fault is the arrogance of someone who has had unchallenged power for far too long.
At some stage, NZers have to admit this vicious and callous abuser of power and privilege has no place leading a decent nation.
John Key can share a cell with Tony Blair. Both are war criminals. Tony Blair declared war on Iraq; King John on the poor of New Zealand.
John Key is also a climate change criminal.
It’s typical RWNJ where he works harder to avoid taking responsibility for his actions that makes things worse than the effort they took in the actions themselves.
JK still doesn’t realise that immigration and Asian money is driving Auckland’s Housing Ponzi Scheme, ostrich mentality head in the sand me thinks?
Key knows exactly what is happening.
And all those that vote for him, Chinese, speculators, nouveau riche and rabid right know exactly what they are getting from him.
No surprises, move along, nothing to see here
Oh he realizes that all right.
There are three main things driving the economy at the moment.
Dairy – which is fizzling out.
The Christchurch rebuild – which has peaked and is slowly going down.
The Auckland housing bubble which is gradually becoming the NZ housing bubble and is showing no signs of slowing down.
Why isn’t it slowing down? because it is largely driven by unrestrained immigration.
Key is not going to do anything to jeopardize the only thing left making the NZ economy grow. It doesn’t matter to him whether it is real growth or speculative growth – to National it doesn’t matter where the money comes from as long as it comes and the bubble keeps growing.
Passing the buck is standard modus operandi for this government, it does so all the time, blaming Labour for things when they were last in government. Now they shift responsibility to the Reserve Bank, or at least try to, because they have no answers and poor solutions to the housing affordability crisis.
Let us not forget, it was the Nat led government that allowed the bubble to develop, that is the housing price bubble, leading to massive un-affordability of housing.
They let immigration continue despite of tens of thousands of Kiwis flooding back home from Australia, where they cannot go onto social security benefits, when they lose their jobs.
They failed to provide for infrastructure development, held back with funding the Inner City Rail Link for Auckland, rather spent more hundreds of millions on highways, and they let the failed market look after housing, which meant that most rather built large homes for those who could afford them, rather than build affordable homes for those now shut out of the market.
No wonder, being caught out now, they try to blame others for the fiasco we have.
I reckon the housing affordability crisis will cost them the next election, it is too late, the horse has bolted, and any increased construction will barely keep up with additional demand through population increase, including new immigrants also needing homes.
And speculators continue to play the market, some even let the investment homes stand empty, as they are not interested in rent incomes, rather in capital gains, delivered by the out of control market for those that can still pay for housing, usually the better off.
Exactly what happened to the Irish Economy, false economics and crony capitalism, unfortunately when it collapses the wrong people are the ones that get the haircut.
Don’t the Natzis realise people need houses to live in, they are not financial instruments to be traded, like shares and securities, however the tax advantages of residential housing encourages speculative investment in this sector, especially offshore Asian property speculators.
“Follow The Money” – the old adage applies here, surely.
Catastrophes like the NZ housing bubble don’t just happen. They’re either allowed to happen or directly constructed. To find out why, all we have to do is, follow the money.
So why? Why didn’t Key implement policies restricting foreign ownership, sooner? Why hasn’t a capital gains tax been introduced and so on?
Key and other MP’s stand to benefit from rising house prices, because they all own houses (http://www.stuff.co.nz/national/politics/80661727/Why-MPs-may-want-house-prices-in-New-Zealand-to-keep-rising). 2.3 houses each on average, most of which are in Auckland. Are you going to pass a policy to bring down the price of houses if you stand to lose? No, not likely. And lets remember, 65% of kiwis own houses, so those that don’t are the minority here. Once we had potential, now unless we have wealthy parents we are by default lower middle, to lower class whether we like it or not.
But this bubble all seems bigger than that.
Specific to purchases of property by foreigners, most of which were of chinese origin, I wonder if there was a correlation between NZ’s trade relationships with China and the implementation of a policy to block foreign investment. Wealthy Chinese have been gagging to get their millions out of a fickle and unstable china for a while. NZ has been the perfect place – “We can buy houses at low interest rates with high capital gains and pay no tax on those gains – are you kidding? – idiots! – i’m fucking in!”
Who knows what deals go on between politicians that are ultimately designed to benefit the 1% ruling class. I’d love to know though. I suspect SLUMBERGOD is right, that John Key is indeed a criminal and there there is likely to be information out there that could have him impeached.
I’ve considered hiring a P.I. – even met with one, but they seemed to think it rather difficult to penetrate ‘the truth’ at a government level. Where’s Bond when you need him?!
So we are stuck. I don’t see this changing. The class divide that has transpired is here to stay. So then the questions is one of survival – how do we survive now?
Failing that i’m all for revolution.
Must watch:
https://www.tvnz.co.nz/ondemand/sunday/10-07-2016/series-2016-episode-23
It’s great to see the civil service standing up to Key’s bully-boy tactics! Long may that continue!!
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