The property bubble that National have nurtured and built for 8 years has now exploded out to a million dollar nightmare that locks entire generations out of home ownership forever.
National have zero interest in stopping their property bubble because they need it, it keeps the growth rate artificially inflated and it gives their middle class property speculating voters feeling rich. The grim reality is that poor people don’t vote, state tenants don’t vote and renters don’t vote, and when they do, they vote like this…
…this is the future that NZers from Muddle Nu Zilind rushed out to vote for in 2014, and what can one say? NZers seem unable to understand that National pretend to be moderate abut are really here for the rich.
Dumb NZers support this corruption, dumb NZers have to live with the reality of that corruption.
Labour will build houses, while National will sell them.
Vote national tax cuts and wage cuts 🙂 Lel
Agree wholeheartedly Sam. And as you saw on tv tonight, on $180,000 a year, even I can’t afford a house in Epsom.
So, I guess that ACT will be looking to make different alliances with parties after the next election, that will make housing affordability better in Epsom, for middle income people like me.
Especially now that the Conservative Party will not be a political force in the next election.
I’m flabbergasted.
It’s a strange new world and markets are acting very strangely.
Analysts have gone to sleep in this market (especially in Asia-Pacific), and they’re being far too risk averse. There are some great stories out there where analyst expectations are wildly off. Using this approach will help you capitalize on that.
$180,000 is middle income? Buddy, you are out of touch. The NZ median income as at the June 2014 Statistics NZ report was $51,000. Even the average income was just under $75,000 as at Aug 2015, and the average is a bollocks indicator anyway, as it’s only lifted by the rising tide of the upper end salaries. The majority of people are below the waterline, to extend the analogy, as there must be wages well below the average, by its very definition.
It’s also a bit revealing that you say you wish to create an alliance that will make it easier for you to get a house in Epsom, rather than say you and your party would like to make a better life for all NZ’ers. But thanks for showing us where your priorities lie.
Forget about hindsight bias.
This was predictable from a long long long way back!
Any mathematical equation or logarithm will show that most Kiwis don’t earn or save anywhere near enough to cause the market to reach these stratospheric levels.
So where’s the money been coming from ? hmmmmm……Let me think now…
All that mainstream saw was declining cycles of unemployment and interest rates right up till average house prices hit $600k. Now unemployment is peaking and inflation turns to deflation or shrink-flation(when a mars bar weighs less but you still pay the same or your wages buys fuck all even if you get a pay rise)
Mainstream professionals of all types thought they new what was happening because of the steady cycles of decline and because mainstream oracles refuse to include private debt into mainstream theories. Decision makers who relied on mainstream theory respond to the housing crises with the same thoeries and policies that failed to see the crises coming in the first place.
Unless private sector borrowing is included in mainstream theory mainstream well not have the skills necessary to do the job of running this nation properly.
Where’s the stupid Media now since six months ago – when they were all reeved up about house prices going up to $750K Martyn???
Have they all been anesthetised!!!!!!
Where do my posts go? Lucky I saved it to note pad before I submitted it.
I’ll try again.
Spot on. In many ways National are doing exactly what a center right party is supposed to do – incrementally cutting and trimming the services and generosity of the state in order to reduce progressive taxation. It is highly likely that National will offer tax cuts – of some sort – at the next election. The average middle income voter will lap up the poultry sum on offer blissfully ignorant of the upstream devastation on government revenue. Once revenue reduces operational costs have to be cut. Perhaps even worse than that is the loss of investment in future public service infrastructure. One mans tax cut is 5 potential new hospitals that never get built – literally degrading the health care options of your grandchildren.
With all the talk of the housing crisis I keep thinking about the 2014 election and David Cunliffe and Parker proposing a massive government backed housing building program and moving some government work into the regions to redistribute economic activity more broadly .
I can’t help wondering how things would look in NZ if those policies had been implemented by a Labour government in 2014.
As it is I suspect the current government will be forced to half- heartedly adopt some weaker version Labours 2014 election platform out of simple economic necessity.
As for Labour where are they on taxation? – they should be front footing this and starting to hammer home to aspiration-ill middle NZ what they stand to lose.
Spot on. In many ways National are doing exactly what a center right party is supposed to do – incrementally cutting and trimming the services and generosity of the state in order to reduce progressive taxation. It is highly likely that National will offer tax cuts – of some sort – at the next election. The average middle income voter will lap up the poultry sum on offer blissfully ignorant of the upstream devastation on government revenue. Once revenue reduces operational costs have to be cut. Perhaps even worse than that is the loss of investment in future public service infrastructure. One mans tax cut is 5 potential new hospitals that never get built – literally degrading the health care options of your grandchildren.
With all the talk of the housing crisis I keep thinking about the 2014 election and David Cunliffe and Parker proposing a massive government backed housing building program and moving some government work into the regions to redistribute economic activity more broadly .
I can’t help wondering how things would look in NZ if those policies had been implemented by a Labour government in 2014.
As it is I suspect the current government will be forced to half- heartedly adopt some weaker version Labours 2014 election platform out of simple economic necessity.
As for Labour where are they on taxation? – they should be front footing this and starting to hammer home to aspiration-ill middle NZ what they stand to lose.
People shouldn’t be surprised .
We have a ‘money trader’ running our country.
Allowing the rest of the world to use our precious housing stock like a ‘Casino’, (laundered money included), and / or a ‘Ponzi Scheme’ , is par for the course in his world .
That’s why he’s at a loss to see that there’s a problem.
He comes from a world of making money out of other people’s financial losses / misery.
These people are the leeches of the financial world…..
Hard working Kiwi’s have been screwed over by 80’s ‘wide boys’ yet again!!! and to add insult to injury now been told that we are lazy and have a bad work ethic .
Key and English are walking on very thin ice ….
Thought it was water not ice Grant.
What hope for future generations? Do New Zealanders realise their children’s future has been totally sold out by the current government.
Yes KIM DANDY,
Key wants to drive kiwis out of NZ by then and have his country run by his filthy rich and slaves imported from third world countries cant we see this now is his plan?????
“KEY the KIWI GENOCIDE KING”
It is not really a “property bubble” as they had in the US, in Ireland and Spain during and after the GFC, it is a property price escalation “bubble”, based on too high demand while supply cannot keep up meeting it.
It is also just a twisted market, as the ownership of homes is at a low, that means fewer own their own and in some cases more residential properties.
We have now had about two years of net immigration gains and comparatively high population growth, and people move to Auckland and a few other preferred cities. That is escalating demand, and no wonder, prices go up. Add speculators and many investors out to make a gain over the long term, and we have the complete disaster we have now.
A laissez faire government with a “charming” man, who though has a sinister side to him also (e.g. Smiling Assassin), that has enticed too many into believing we are on the right track, the right course.
But we are not, we have discussed this often here, and slowly we are nearing a situation where something serious needs to happen.
People are in too great numbers too blinkered and brainwashed though, they do not stand up and take action, they are too busy to survive and cope (the poor), or too busy planning careers and business opportunities (those doing ok or even well).
This country is really screwed, and to stop this, we need to change government something really soon, but this is the gigantic challenge ahead. The MSM are busy discrediting and undermining opposition parties and leaders, just watch this space, for the time leading up to 2017.
Key and his gang will of course soon introduce “new measures”, and soften the blow, so to say, and sadly, I fear, too many voters, that is those that bother voting, will think, well we know this lot, we better give them a final chance to reform and right things.
That is those that could be swing voters.
I wish it was different, but I cannot see a major shift in the polls so far.
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