TV Review: Who Owns NZ Now?

By   /   September 13, 2017  /   92 Comments

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Bryan Bruce has done more fourth estate journalism in one documentary than the entire mainstream media have managed all year on housing. In a country where the sleepy hobbits don’t want to be woken from their slumber with economic ideologies when the Bloc is on, we have allowed a train wreck neoliberal experiment to benefit the few while crucifying the many.

One of NZs best documentary makers, Bryan Bruce, has hit another incredibly doco out of the park with last nights crisis in housing special on TV3. Previously his work on child poverty and how NZs neoliberalism has damaged us have been high points in his career, he adds another one with this work on the housing market.

One of the things we don’t really have as part of the debate right now, thanks to 30 years of neoliberal culture and a mainstream media in constant denial of our past, is a history lesson on how the boomers got their houses and the values that underpinned the desire to house everyone.

Remember the housing guarantee? All boomers had to do was get a 5% deposit and the Government loaned them the rest at 3% for 40 years.

 

Remember that when a boomer starts wailing on about how tough it was in their day.

The reason why this was a priority was because housing citizens was a priority for all, not just some.

Isn’t it quaint comparing that to the mutated horror our housing has become now? Believing that home ownership was crucial for a stable democracy and ensured quality of life seems light years ahead of where we are now.

Bruce paints a bleak picture of how neoliberalism has robbed us of an egalitarianism that was crucial for fairness.

Example after example after example of how our market driven economy has failed us are shown in painful detail. The madness of the neoliberal experiment from the 1980s is laid bare with the ease of the large banks entering our market and selling us their limitless money supply to capture the mortgage market away from the State.

This created the ‘asset class’.

Bruce points out it’s not just the boomers, he also points out that there is a serious problem with demand.

Treasury looked at the impact of immigration on house prices and found that for every 1% rise in immigration there was a 10% rise in house prices. The madness that we don’t even know how many foreign speculators are actually buying and selling our homes is explored as Bruce plays real estate adverts that are trying to sell to China.

The utter bullshit of the Government’s supposed obligations to count how many foreign speculators are in NZ with the Property Transfers and Tax residency report is shown up for the loophole joke it actually is because the incorporated company allows foreign share holders. What does that mean? It means the claim by National that only 4%  of our market was being bought by foreign speculators is completely false and the number is to be found in the 60% that are hidden behind trust structures.

How Auckland became the fourth most unaffordable city in the world should shame and terrify us. National says it’s proof we are ‘succeeding’, and that it’s not the obvious conclusion of a 30 year neoliberal experiment gone bad.

Bruce looks at the impact of capital flight from China with a trillion leaving them last year to be reinvested into the rest of the Western world.

In NZ, ANY attempt to blame Chinese  foreign nationals for buying up NZ property is screamed at by the cosmopolitan Twitterati as XENOPHOBIC RACSIM which is funny when you consider the opening sequence of Bryan walking around cars with families all living in them were brown.

Bruce looks at why Governments in the West have hidden the level of Chinese investment and the reasons are political and economic. If Western Governments were actually upfront with their domestic voter base about how much land China is buying, there would be extreme political backlash.

As we slowly become the Tibet of the South Pacific, the reality is that domestic NZers can not compete with 200 million middle class Chinese trying to buy into our property market. Globalisation might have given you that consumer toy cheaply, but it’s also devalued our quality of life as the domestic market is forced to compete with middle classes from other countries that are hundreds of times our entire nations population.

The wilful blindness by the Government to deny the influence of China in our market is highlighted again and again by Bruce as local public servants tell him any attempt to track this and measure it is ignored.

We can control the influx of capital coming into NZ, but we have a Government who needs that inflow to keep the false growth rates up. Bryan explores this political problem cleanly, he points out that if you don’t own a house, you want change, but if you do own a house you want things to continue as they are.

That is where I think the debate really is, a generational one between those who had their lives subsidised from cradle to grave (the boomers) and everyone else who had to live with the free market user pays cruelty of never ending debt slavery (Gen Xers & Millennials). This has complex political dimensions because boomers vote and Gen Xers and Millennials don’t.

Bruce lists the things we don’t do that could be insulating the domestic population from this insane capital inflows from foreign countries:

No stamp duty

No foreign buyers tax

No inheritance tax

Little capital gains tax 

He then lists how other countries have managed to give domestic populations a chance to buy their own homes. It’s embarrassing how many good options there are and how few of them we are investigating.

Shares in collective home ownership.

Long term leasing.

Tenant protection agencies. 

Security of tenure.

Bruce confronts us with the reality of how damaged our current situation is. He demands that the Government stop capitulating to the market because the market is only there to generate profit not social good and that if we want a serious debate about home ownership we have to collect good data.

Bryan Bruce has done more fourth estate journalism in one documentary than the entire mainstream media have managed all year on housing. In a country where the sleepy hobbits don’t want to be woken from their slumber with economic ideologies when the Bloc is on, we have allowed a train wreck neoliberal experiment to benefit the few while crucifying the many.

What is most frightening about this documentary is that many NZers would have no idea of the economic background that has led to this failure. We so rarely have decent documentaries on mainstream platforms, instead we have property speculating porn game shows that feed this frenzy.

Bryan has done NZers a great public broadcasting service with this documentary, every NZer should watch it.

 

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92 Comments

  1. WILD KATIPO says:

    I jolly well missed that !

    Any place we can view it perhaps?

  2. CLEANGREEN says:

    Hi Martyn,

    National is setting us up for a massive financial correction as we saw in Greece as the ‘over-extending’ of our overseas borrowing increases with out expansion of our GDP.

    We are headed for a financial crash we have never seen before and will become tents in our own land.

    Opposition parties should be loudly parroting this warning all together loudly every day till the election.

    • RosieLee says:

      Bit of a Freudian slip there Cleangreen. Tents in our own land.

      • CLEANGREEN says:

        Yes it was wasn’t it Rosielee,

        Golly I hope it got a giggle too?

        That should read;

        “We are headed for a financial crash we have never seen before and will become tenants in our own land.”

        Tents are what we will wind up inside of at this rate though.

      • CLEANGREEN says:

        CORRECTION Thanks go to Roseielee.

        Hi Martyn,

        National is setting us up for a massive financial correction as we saw in Greece as the ‘over-extending’ of our overseas borrowing increases with out expansion of our GDP.

        We are headed for a financial crash we have never seen before and will become tenants in our own land.

        Opposition parties should be loudly parroting this warning all together loudly every day till the election.

  3. David Stone says:

    Fo all the taxation possibilities that labour (Jacinda) has put out there to frighten the horses, if she can do as she says and ban foreign purchases of our houses in her first term, and especially ban farm land purchases as well, that will be enough . Enough to justify election of a labour government, and enough to fix the house price inflation without needing a capital gains tax.
    I haven’t seen the doco but Martyn doesn’t mention the empty house syndrome and the lack of statistics to count and record the number. This must be a massive distortion to the market if 30 or 40 000 houses or more in AK are deliberately left empty, and what is the try number? And how many of new houses built will also stay empty to enhance the speculative returns. This is the first thing to address as it involves housing thats already there.
    D J S

    • Melanie Scott says:

      Why doesn’t anyone ask Auckland City how many empty houses there are? It is a very easy number to provide. Watercare know, they can just look at water use per household in a year. Have been told by a close associate of a senior Ateed employee that there are about 30,000 houses in Auckland where no water consumption is recorded.

      • Rosemary McDonald says:

        “Have been told by a close associate of a senior Ateed employee that there are about 30,000 houses in Auckland where no water consumption is recorded.”

        WTF?

        • Red Buzzard says:

          Labour need to pick up on this!

          ( and it isnt “crude racial profiling”( of Labour) or “Racism”( of NZF) as the famous Green Party Metiria suggested)

        • Red Buzzard says:

          no water consumption means overseas speculators buying up houses ( no people in the houses) ….or wide spread fraud …or both

  4. WILD KATIPO says:

    Point after point after point you’ve raised there Martyn my old son , – far too many to single any one out , – but suffice it to say that every last one of them are directly applicable to the deceitful neo liberal ideological
    cancer and its apologists .

    From the politicians to the speculators to the free market advocate entrepreneurs , – every last stinking , howling one of them .

    And lets not forget the New Zealand Initiative and their London based lords and masters the Mont Pelerin Society.

    These, collectively , … have been making slow war against the citizens of this country , – a long drawn out 33 year old war. And now , due to the consequences of their insatiable greed and lust for yet even more and more wealth and the power that inevitably brings , … they are guilty of genocide.

    How may people ask ?

    Its found in children’s mortality statistics due to substandard housing , – especially during NZ ‘s cold long winters in the form of asthma, pneumonia , bronchiostasis and other third world preventable diseases.

    Its found in elderly patients on long hospital waiting lists who are not seen in a timely manner , its found in the homeless who die sleeping rough during our winters, its found in the sheer numbers of suicides that occur annually in this country.

    Oh yes, … the neo liberal may not be guilty of pulling the trigger , – but they are guilty of deliberate policy’s that have the same effect.

    Genocide.

    When viewed from that perspective , one most certainly can see it as a war , – and a genocidal war just as real and every bit as devastating as anything Bashar al-Assad of Syria is guilty of.

    New Right Fight – Who are the New Right?
    http://www.newrightfight.co.nz/pageA.html

    • Hongi Ika says:

      NZ has definitely gone backwards since the advent of NEOLIBERALISM, Roger Douglas stated we had to experience the pain b4 the gain however we have experienced the pain but not the gain ?

      • frank says:

        he was misquoted…what he actually said was the many have to experience the pain in order for the few to gain….and bugger me he was right.

    • Brigid says:

      What is Bashar al-Assad of Syria guilty of?

      • Priss says:

        Genocide, Brigid. And mass-hangings of political prisoners.

      • David Stone says:

        Bashar al Assad is guilty of operating a sovereign banking system instead of allowing Wall St to rape his country and disenfranchise his people like our government allows:and ov refusing to allow a gas pipeline to be built through his country from Qatar to Europe to undermine Russian gas sales there.
        He is also guilty of being the most highly educated of any national leader on the planet, and its’s most unlikely that he is a vicious tyrant as MSM propaganda has been depicting him for the last 6 years.
        Within Syria he probably has the support of more of his people than any other national leader. They don’t get their news from the Western MSM, so they don’t know how horrible he is.
        D J S

    • CLEANGREEN says:

      CORRECTION Thanks go to Roseielee.

      Hi Martyn,

      National is setting us up for a massive financial correction as we saw in Greece as the ‘over-extending’ of our overseas borrowing increases with out expansion of our GDP.

      We are headed for a financial crash we have never seen before and will become tenants in our own land.

      Opposition parties should be loudly parroting this warning all together loudly every day till the election.Yep 100%

      national = genocide.

    • NZBC says:

      “and a genocidal war just as real and every bit as devastating as anything Bashar al-Assad of Syria is guilty of”

      Get a grip

  5. Castro says:

    Outright neo-colonialism by the world’s largest dictatorship since…. EVER. That is precisely what is happening in No Zealand. Call me a heretic or any other name you care to think of; the truth will prevail.

    • NZBC says:

      Isn’t it pretty clear that China is moving to stop capital outflows? That is they would prefer that money to remain in China?

      http://www.businessinsider.com/china-moves-to-stop-its-capital-outflow-real-estate-markets-worried-2017-1?IR=T

      Neocolonialism? Not really – Labour can shut this off before Christmas with few repercussions from the Chinese. And it was a Labour government that courted the Chinese and got that FTA signed almost a decade ago.

      The foreign speculators thing is going to end up being a fizzer –investment from abroad has slowed in any case, the ban will be put in before Christmas, but that will make bugger all difference —I’d bet the house on it (no pun intended).

      It’s not neocolonialism – the Chinese will simply take it or leave it —its more about bad policy decisions by sovereign New Zealand governments under successive Labour and National governments.

    • Barry says:

      And they are supposed to be a communist state at that.Seems the National Party gets along well with Comunist China, especially if there is a personal profit it.

  6. Castro says:

    “We” are sleepwalking into the mouth of civil war.

  7. John W says:

    The TV3 doco was refreshing in as much as the simple common sense questions and answers have been there for many months but denied by MSM and govt.

    The main point covered that need emphasis and discussion is the function of the state as a source of home and small business loans .

    That is what needs to be instituted now and stuff the predatory private bankers bonanza at extreme cost to NZ.

    It was touched on but probably missed by many.
    The state provided money for home loans – money freshly generated.

    Once deregulation was brought in by the douglas gang of thieves ,then the state stopped this activity and allowed private banks to reap the unearned booty now amounting to billions a year.

    The state made new money when giving low interest secure home mortgage money. When the money plus interest was replayed to the state then the state applied that money elsewhere.

    This deregulation was a crime of theft from the people of NZ .

    The state also controlled the value of land.

    • Brigid says:

      ” The state provided money for home loans – money freshly generated.”
      It is at last being stated at least.

      Even five years ago not many journalists dared speak of this.

      • John W says:

        Even the reserve bank website outlines that approx 97%
        of newly generated money is created by private banks. No secret but tremendous power and falsely generated wealth used to control the system including politicians.

        Money should be fundamentally based on labour.

        Banks have an exemption from this by law, for no reason other then corrupt politicians have allowed this to take place and those there now are scared to have them selves targeted by taking about even small changes to that let along redress the corrupt empire based on banking.
        Russel Norman suggested the state create a small amount of money ( Quantitative easing) and he was run out of politics by a viscous personal campaign targeting him and his family.

    • CLEANGREEN says:

      I found Bryan Bruce so refreshing and honestly believable.

      Bryan Bruce didn’t push hard or ‘guild the lily’ he clearly was succinct and precise with every point and word.

      • Red Buzzard says:

        he is a good ol’ New Zealander…probably wears slippers and drinks MILO too

        • NZBC says:

          He was born in Scotland. He’s an immigrant himself. He should go back.

          • Red Buzzard says:

            i dont think so!…he has lived in New Zealand almost all of his life and he has earned his credentials as a New Zealander for New Zealand and New Zealanders!

            …like Winston Peters whose Mother was Scots …Winston Peters also is for New Zealand as a sovereign nation… and for New Zealanders first in their own country

            …as is the Maori Party…and the Mana Party

  8. Hongi Ika says:

    We may experience the same situation Ireland did around the time of the GFC, a lot of similarities ?

    • TootingPopularFront says:

      I believe our former PM John Key was instrumental in the Irish situation prior to being parachuted in to NZ, working for Merrill Lynch at the time

  9. simonm says:

    Not everyone thinks it was so laudable. Here’s Spinoff arsewipe Duncan Greive lambasting us all as a bunch of racists for even raising the issue…

    http://www.nzherald.co.nz/entertainment/news/article.cfm?c_id=1501119&objectid=11921349

    • bert says:

      So Duncan goes on the attack? Why does Duncan not do some investigative research into this subject rather than the easy editorial of attacking the messenger. As far as I can tell, Duncan does nothing to refute Bryan’s research, rather he cries, XENOPHOBIA. So to Duncan I say prove it?

  10. Historian Pete says:

    I got a University degree in 1972 during which I received a student allowance.I owed nothing- no student loan debt.Within five years I had gone on a 18 month O.E., returned, done teacher training, and with my wife, a nurse [On low pay], purchased our first home in Pakuranga.It was all a piece of cake! Any Baby Boomer who claims it was hard is an unmitigated liar!

    • CLEANGREEN says:

      I went through my trade training 5yr appreniship electrician by 1966 and left for Canada in 1968 in a ship called the Oriana the P+O sister to the Canberra 42 00 tonne.

      Oriana was full of NZ & Aussies all fresh out of universities all.

      i was left feeling like a poor second class tradesman not a bristling graduate with a PhD so I felt-this class separation when i left NZ then.

      Things have not been made better we have since then just widened the gap between rich & poor as the middle class are now being squeezed out as a response from what the movie “who owns NZ”

    • Nicke says:

      Back in the days when 6% got degrees, education was more free and there were no study grants or support, so you worked and studied part time, even for a full time course.

      Don’t rose tint it. Houses were cheap, like they still are anywhere people with money don’t want to buy.

  11. Liminal says:

    I only caught the last forty minutes of this program but it was a damning indictment of NZ’s political/economical position. I don’t know if it covered the building costs here in Godzone [sic] with comparable countries (Australia) but the message here, and from all political parties, is that “affordable” to buy seems to be in excess of $400,000. If the median wage is something like $80,000 then affordable should be something like $200,000-$250,000. Something badly wrong here and we need to go the route of those civilized societies in Europe, with more socialized housing. And, as I am constantly reminded about NZ’s supposed monopoly of “innovation” and “ingenuity”, where is the investment in computer-based/pre-fab/kit-houses that Germany and Scandinavia can produce so beautifully? Why just shunt out raw timber?
    Depressing.

  12. Nick says:

    Enough about Boomers.
    After their altruistic youth battling for a better world, they became cash-cows in thrall to their Gen X and Y children.

    The property they own, and their savings with no inheritance tax is all destined for their children. Their altruism is thus directed to their inheritors rather than the beneficiaries of Women’s Lib, Gay Lib, Anti-nuclear, Anti-War, Anti-Apartheid….many of which battles have either been won or notably advanced.

    The problems we identify: the march of robots and mass unemployment, neo-liberal globalization and so on, are the work of the wunderkind who followed the Boomer; a boy-genius who knew the price of everything and the value of nothing. The people who gave our young their own smartphone and left them to lose themselves in a cyber-addictive nightmare and embraced neo-liberal globalization because it was more “efficient” in ever faster extracting the world’s resources, if not to the world’s people, these were not Boomer-ideas. “Gen Me” and what the French dubbed “Gen Bof” split the world between those with selfish agendas and those who brought only passive disengagement to the table.

    They are due to gain, tax-free, the entire Boomer wealth, and still feel it appropriate to demand “Jam Today”.

    Because, count on it, the loudest voices will be people with “Great Expectations” of a nice little nest egg put together by their Boomer parents.

    These are the same people who think it is top priority to save them from waiting or moving town to BUY a house, at the expense of the people who need affordable rentals. You know, people who are REALLY in need.

  13. michelle says:

    I watched that doco last night and now I can see why we are in such a mess. The neo lib policies are a gravy train for those NZers already wealthy and those who want to become even more so. I can also see why the gnats refuse to collect proper data on our housing market
    (whose buying and selling etc) and why we have unprecedented immigration it all feathers the nest of the above and creates a underclass which is necessary for there to be an upper class. And I can also see why sire john has done the runner and sold his mansion he doesn’t want to face the f…n mess he has left behind. Also I can see why too many Nzers are happy with the status quo and they don’t want to get rid of the gnats. A gnat sucks the life out of things and eventually it becomes sick or dies that is exactly what our current government is doing to our country and our people. Good timing this doco just before our election but how many people watched it and how many people can see we need a change of government and a big change of mindset.

    • WILD KATIPO says:

      And speaking of Small John Key ,… here is a clue to which way this election will go ,…

      Labour will bring in a halt to foreign buyers / speculators , – houses etc…

      Small John sold his Parnell house for around $20,000,000.00 , – making a fair few million dollars profit , of course, … and it is said that the buyer was from somewhere in China…

      Rats off a sinking ship to the bitter end.

  14. It is only a matter of time that we will see the results from all of this.
    We will see more and more Chinese in Parliament under the banner of National.
    And the flood gates from Asia will open wide.

    Just as Gerry Harvey has said about Australia, that they will have a population of 100 million people by the turn of this century and there is no way to stop it happening.

    It is a run away train now.
    I would think we are on the exact same train.

    • NZBC says:

      Well its like this buddy. The West went in and ripped off and pauperized the Chinese for over a century (and Indians and Africans and indigenous people the world over). That happened for over a hundred years, and New Zealand enjoyed the benefits of this (as a member of the British and American imperiums), and fought in wars to maintain this Western hegemony over the world’s resources. However, with the triumph of Soviet and then Chinese communism, the West’s stranglehold on the rest of the world, i.e. the non-white world was weakened. Decolonization happened and an increasingly socially and economically weakened Britain was forced to accept reality, cast New Zealand aside, and join the EEC in 1973. From then on New Zealand was living on borrowed money, and started to run current account deficits. Those halcyon times of milk and honey were over, and New Zealand now was on its own in the big bad world, having to compete with everyone else for a living.

      So fuck this misty eyed yearning for those halcyon days of yore. Those days were great was simply because of white New Zealanders enjoying the spoils of imperialism. You pseudo leftists sound like how American southerners must have sounded pining for the ante-bellum days of slavery and mint juleps on the porch.

      The Chinese and others are now competing with the West, and there will be a rebalancing of global economic power and control of resources (already happening) over the next few decades, and the world will become a much more equal place —not just a few rich whites lording it over blacks, yellows, and browns. That is a good thing for all of humanity.

      But it does mean that those in the West use to comfortable living will have to work harder, be smarter, be hungrier, be more competitive, just to retain some of what they use to have. And that’s fair enough.

      That’s the overarching story.

      Now Martin. What do you propose. Cancel our trade agreement with our largest trading partner. How many jobs will that cost the country?

      Do you want unemployment rates in the double digits as they have had in Europe.

      The fact is China is New Zealand’s economic saviour. Without Chinese (and Asian growth), New Zealand would have by now stagnated into a backward south pacific swamp, with no iphones, computers, and technological infrastructure.

      So Martin – want to hear what you would do. Continue with China as our largest trading partner or tell or to get the hell out?

      • WILD KATIPO says:

        You make it seem as if China is our one and only Savior and there wasn’t any other nations on earth to trade with , – along with that constant derogatory anti European / white New Zealander narrative .

        Yes we have a Free Trade Deal with China , however it is an imbalanced trade deal. The mere fact their speculators can come here and help distort our housing markets demonstrates that , – and the fact we cannot reciprocate the favour in their country.

        Oh , – and taking umbrage at your racist shit you spouted off against Caucasians in Chris Trotters post a few days ago , quoting a well known activist to justify your racism, … I invited you to view the rape of Nanking.

        Shocking video about the Japanese invasion of Northern China in 1937.

        Asian on Asian aggression.

        And who took a prominent place in the film, … shielding ethnic Chinese from the depredations of the Imperial Japanese Army and saving hundreds of thousands of lives ?

        You guessed it , – a handful , – around two dozen or so Europeans.

        So the next time you feel tempted to spout off your racist viewpoints , just remember history can catch you out all so , very , very easily and condemn your own deliberately inflammatory words. And ,… please ,… stop trying to dress up your deep humanitarian values ( while at the same time excluding Caucasians) as virtuous , – as if you are some kind of social justice warrior.

        You are not.

        You are nothing more than a greedy , avarice filled globalist right winger who uses humanitarian values to the advancement of your own pecuniary advantage.

        Rape of Nanking – YouTube
        rape of nanking▶ 44:28
        https://www.youtube.com/watch?v=aQnBvs3LTZw

        • NZBC says:

          “You make it seem as if China is our one and only Savior and there wasn’t any other nations on earth to trade with”

          What other market that would provide that volume of trade, and in the neigbourhood? In any case it was NZ under a Labour government that actively courted China for that FTA, and willingly signed the conditions that allowed CHinese to buy land here.

          The reality is if we piss around with China, this country will be economically devastated and our 5% unemployment will shoot up to 25%.

          But if New Zealand went ahead and cancelled the FTA, I’m sure CHina will not send gunboats down here (unlike how the West treated her) – so rest assured on that point.

          Just suck it up – white man does not rule the roost anymore –the world centre of economic power is returning to the east – a raging racist white impotent self styled WORKING CLASS keyboard warrior can’t do jack shit about it, and the main theme is not going to change no matter who comes to power. Best you get on board and make the most of it.

          • The reality is if we piss around with China, this country will be economically devastated and our 5% unemployment will shoot up to 25%.

            Nonsensical rubbish. We exported to other countries in the 50s and 60s when China wasn’t even on our trading-radar and unemployment was counted in the dozens – not thousands. Even after Britain joined the EEC, unemployment was lower until two Energy/Oil Shocks hit our economy in the early and late 1970s.

            The rest of your post is lost in pointless cynicism.

            • NZBC says:

              “From the 1850s until the end of the 1960s the majority of New Zealand’s exports – often more than 80% – went directly to Britain, except for a brief period in the 1860s when New Zealand supplied the Australian goldfields, and shipped indirectly to Britain through Sydney”

              What other countries Frank? Would those same countries in the 21st century provide us with nearly the same volume of trade as we currently have with China —support the same number of jobs, earn us the same amount of foreign exchange.

              What countries Frank? Or are you talking out of your ass?

          • elle says:

            John Key made a deal with China, a dairy deal for the right of Chinese to enter NZ and buy property and have the same rights of NZs.
            The Chinese came in droves bought land houses and businesses, they bought dairy farms, and exported the milk products to China,cutting out Fonterra by a substantial margin,thereby making a fool of John Keys stupid deal.
            There are a substantial number of Chinese in NZ,if the government of the day stopped land and house purchases for Chinese nationals the current NZ Chinese could purchase property on their behalf.
            The only way to stop it would be ban future Chinese entry into NZ, not very practical.
            The NZ Chinese have relatatives,who would have the right (presumably)to settle here in NZ.
            If Chinese were just immigrants like others from other countries,and not financial profiteers they would be no different from UK and other countries. The days of genuine migrants are over, John Key opened the floodgates of profit by his own speculative actions,others followed,its open slather now.
            Young house buyers maybe should buy homes in cheaper areas and hope businesses would follow,providing work .Auckland is only for the rich now.

      • Sam Sam says:

        Well you too are definitely in need of smarter friends. You guys seem to thing New Zealand is some how not vulnerable to trade. Trade by commerce or by the sword can happen so quickly. If you don’t think New Zealand is vulnerable to trade. We just spent a billion dollars to stack on an extra 20% Auckaland moterway congestion. If you think New Zealand is dependant on invulnerable to trade then grow up.

        New Zealand is an English language working society. But at the same time we want to keep as much or as high a level of our native tongue as possible. And I emphasis Chinese because if you are proficient in Chinese then doing business in China becomes easier later on. And I want to emphasis english because it is important for non-Chinese understand children do not misunderstand when we say improve higher standards in Chinese. We are still an English speaking, English working society. But if we lose our native tongue then there is noting special about New Zealand and expats will always be treated as orphaned guests.

        We are a multiracial society so we must speak both English and Māori languages. We’ve become an English dominated working courts and is inevitable because we work in English. So to keep up Māori as a special effort, so when students leave school they will keep up learning Chinese as a special effort. So when students leave school they keep it up. And when students speak Chinese or other languages to there friends or watching foreign TV or foreign magazines.

        So that’s what I would do. Improve education so it wouldn’t matter who transited Auckland Airport or in what direction. And trade, well trade will have been enabled.

      • Brian Bigginsworth says:

        Natzis immigration policy was designed to drive down wages for ‘business’. Prior to 1984 productivity and wages experienced a parallel upward increase (labour demand high, wages rise to attract labour), however during the period of neoliberal governments since 1984, productivity increases have seen a tangentially downward trend in wages- Fact. Natzis zero control on foreign investment was designed to artificially prop up the economy, particularly Auckland, allowing a massive inflow of dirty money and hugely inflating real estate prices so that the middle class can ‘feel’ rich and for some, speculate on housing to make some quick money to make up the shortfall in earnings that have been robbed from them over the last 20 years.
        Cheap labour exploiters will defend these policies and there’s a good chance that these same people are property speculators. Like the Natzis, they are essentially anti- New Zealand and they are simply greedy, self-centred individual (like the Natzis) who have no interest in the future of the young people in this country.

    • WILD KATIPO says:

      Then vote Labour / Green , – and even NZ First to put a halt to the passive foreign re – colonization of New Zealand.

      That’ll gentle it down somewhat.

  15. jay1 says:

    The kiwi’s get rich scheme isn’t mentioned! So many NZers I know are housing speculators themselves ( Rentiers ) long before the Chinese entered. Renting their capital gain props out to poor wage slaves or bennies. Even the MPs are into this antisocial behaviour. A draconian CGT is needed to stamp out this parasitism once and for all! Houses are for homes not monopoly get rich pawns! Despairing 🙁 Refer economist Michael Hudson.” I believe in the free market!” – Rodney Hide 🙂

  16. countryboy says:

    It’s the Banks. It’s all about the Banks. The Banks control every element of our lives lived in our gulag-esque labour camps, aka our homes.
    Our homes have become prisons which will soon be our tombs.
    They reach in through our letter boxes and slither up our young people trying to survive in their first debt prison. The banks hypnotise us with their clever psychological, logical fallacies which poison us from the flat screen TV’s, their weapon of choice.
    Banks are vile, some might argue, evil. They need to be done away with.
    All mortgage debt? Gone.
    All foreign debt? Gone.
    Re nationalise our assets and slice through the income from those assets to off shore ‘ investors’.
    And most important of all. A running royal commission of inquiry into who did what for how much which has done this to us.
    There are those out there, and there’s no doubt at all they’ll be reading this, who need to go to prison after they’re asset stripped of cash and property which should then be redistributed to us, their victims.
    We have enough expertise and more than plenty of resources to pull that off. All we need now is the courage of conviction.
    We Kiwi’s are world famous for many things so imagine the respect and kudos we’d get if we were the first country to drive off the Banksters? Well, there’s Iceland of course. Lets give them a call and ask them how that’s working out for them?

    • WILD KATIPO says:

      … ” Banks are vile, some might argue, evil. They need to be done away with ” …

      Its the usury system out of control that’s particularly bad. And the way it is being manipulated by the very politicians elected to serve us .The Reserve Bank and Treasury need to be brought back under govt control and regulation.

      … ” Re nationalise our assets and slice through the income from those assets to off shore ‘ investors’’ …

      You are 100% in having every right to being furious. Despite the obvious humour the anger is palpable, … as should every honest , thinking Kiwi whoever gave a shit to sit down and have a think about all of this be furious . I think the frustration is with the sheer inertia in this country of open honest debate and the knowledge of being deliberately spoken over by those in positions of power , … with vested interests and the obvious avoidance at all costs of having that debate out in the open. It is plain rank dishonesty . Others would say corruption.

      … ” And most important of all. A running royal commission of inquiry into who did what for how much which has done this to us ” …

      And here’s where it gets proactive. There needs to be an inquiry. But here’s also where the criminals would get most resistant to avoid the truth getting out in the open for all to see at all costs . This would also open dialogue regarding just what role many of these criminals had in the treasonous takeover of NZ initiated by Roger Douglas in 1984.

      But the horrifying thing for Kiwi’s who have tolerated the lie for so long is that it would deeply affect our national sense of identity’s and who we really are as a people , … who once prided ourselves as a ‘generous , caring’ people.

      But that is the price of choosing honesty over guile and acquiescence to a lie , … yet once attempted and undertaken ,.. is a great cleansing , healing and renewal for those bold enough who choose it.

      New Right Fight – Who are the New Right?
      http://www.newrightfight.co.nz/pageA.html

    • David Stone says:

      A thought though Countryboy, the banks would have no control if no one borrowed from them. Collectively we have the power to break them. Oh you say , but how could anyone survive? Well banks don’t lend to beneficiaries or paupers, and they mostly survive It takes two to tango, it’s like Rodriguez and the Sugarman.
      If nobody could borrow money, or if no one would, then houses would cost what people can afford to pay without borrowing money. All asset prices are in the end set at whatever a bank will lend on that asset . And the more they will lend the more the cost.
      It is possible to do without bank money, I made up my mind nearly 50 yrs ago that if I wanted to take the risks of doing things differently from everyone else and follow my own ideas and retain total independence and autonomy in my affairs , I had to make do with what I could earn. I had harsh early experience. I have never had a moment’s regret of that decision, nor ever felt tempted to reconsider it. Everone should try it.
      Cheers D J S

  17. Susan St John says:

    Bryan has done us all a huge service in this documentary. The NZ Herald article today should be ignored as the right wing rant that it is.

    • Rosemary McDonald says:

      Agreed.

      What puzzles me is that he seems to have got away with superb timing…again.

      http://www.nzherald.co.nz/politics/news/article.cfm?c_id=280&objectid=10779390

      “NZ on Air wants to stop broadcasters screening documentaries on political issues in the lead-up to an election – a break from its usual hands-off approach which its chairman says is important for its reputation.” Herald, 18th January, 2012.

      The paranoid cynic in me wonders if last night’s Newshub Poll indicating a decline of support for the Left was some kind of compensatory gesture.

      Elections. Gotta love ’em.

    • Priss says:

      I agree, Susan. It was a briolliantly made documentary and if New Zealanders choose to ignore his message, then this country is headed for a very bleak, unpleasant, divided future. We’ve been warned.

    • John W says:

      CB – 100%

      There are demons behind the present law allowing them to make $9 free money from every $1 deposit and no Govt competition.

      Only they ignore the rules as their books are a black hole not open to examination. Expert opinion has it that the rules are far exceeded and they lend as much as they can regardless.

      Money for jam – our money as we all suffer dilution of wealth as this free cash flow into their pockets are paid for by us. Our worth is diluted by these Trans National thieves.

      Rising prices of land, farms and houses is driven by them as other factors such as immigration, the lack of protection for NZ is a direct result of their puppet politicians facilitating the step by step demolition of Kiwi opportunity, local industry, resilience and long term stability.

      The people need education and a public revoltion of this hegemony should be supported as a priority.

  18. Tom Gardner says:

    Quite agree, although I only caught the last 2/3 or so.

    They should rescreen it for those who missed.

  19. CLEANGREEN says:

    I went through my trade training 5yr appreniship electrician by 1966 and left for Canada in 1968 in a ship called the Oriana the P+O sister to the Canberra 42 00 tonne.

    Oriana was full of NZ & Aussies all fresh out of universities all.

    i was left feeling like a poor second class tradesman not a bristling graduate with a PhD so I felt-this class separation when i left NZ then.

    Things have not been made better we have since then just widened the gap between rich & poor as the middle class are now being squeezed out as a response from what the movie “who owns NZ”

  20. Red Buzzard says:

    Can the documentary be up on utube and then linked to from this site ?

  21. simonm says:

    This issue is also happening in China itself. From Bloomberg:

    “Then there’s China’s overheated property sector, which is now valued more highly, relative to GDP, than the U.S. housing market was at its frothy peak in 2006. With property prices rising at double-digit rates in major cities last year, speculators are flipping properties without bothering to move in. Nationwide, there are 50 million housing units that have been sold but remain unoccupied, according to research by Gan Li, an economist at Chengdu’s Southwestern University of Finance and Economics. That’s enough to house every man, woman, and child in Germany and France combined.

    China has increased requirements for down payments and ordered banks to be more discerning about mortgage lending—to little avail. The country has for years considered imposing a property tax to curb speculation but the idea has never gained traction amid opposition from politically well-­connected interests.”

    ‘Politically well-connected interests’ – sounds like National Party donors, doesn’t it?

    https://www.bloomberg.com/news/articles/2017-08-01/can-xi-jinping-defuse-china-s-debt-bomb

  22. NZBC says:

    So what do you guys propose?
    Should we go ahead and cancel the FTA for a start?

    A lot or ranting and gnashing of teeth, on blogs like this, but few ideas on how we should go forward.

    So what should be our first step. Cancel all FTAs?

    • Sure. Why not.

      New Zealand has always traded, even before these so-called “FTAs”.

      Cancel the bloody lot and re-negotiate Fair Trade Agreements. For one thing I see no rationale for buying homes to be a part of international trade. Timber, food, raw materials, electronics – fine. Our homes – no fucking way. Homes are for people to live in – not commodities for tax-avoiding speculators.

    • WILD KATIPO says:

      And you have just stated PRECISELY why we need govt regulations to curb the natural human tendency to want more for less. The very thing neo liberalism enables, – with all its ugly short and long term negative social results .

      You don’t seem to know very much about NZ’s recent political history ,… if at all.

      You must have been born a bit after the year 1984… or perhaps a foreigner yourself. Or perhaps even a convert to the same greedy acquisition of the public’s wealth that befell Roger Douglas and his fellow travelers.

      Tell me , can you explain what political / economic system NZ had prior to 1984?

      I don’t think you have even a superficial understanding of what Keynesianism is , do you… or that we were a true social democracy with an economy based on Keynesian economic principles… tell me,… do you even understand where all the wealth that was plundered and where it came from post 1984? Or that we were pre 1984 one of the wealthiest country’s ( 6th ) globally per head / capita…

      This comment :
      ……………………………….

      … ” So what do you guys propose?
      Should we go ahead and cancel the FTA for a start?

      A lot or ranting and gnashing of teeth, on blogs like this, but few ideas on how we should go forward.

      So what should be our first step. Cancel all FTAs? ” …

      ………………………………..

      Full of arrogant posturing bluster and bravado and ‘Alpha male ego’ trying to make it appear as if leftists are somehow all phony’s, ineffectual incompetents or without any real clues.

      You are an inverse racist . We do know that. And we are well aware of your proclivity to use charges against Caucasian imperialism and , moreover , … slurs against Caucasians in general , …to manipulate your case about ‘coloured workers of the world unite’…we know that much.

      But then that is the red herring justification. See how easily it is seen through?

      And then in the second breath you go on to advocate FTD’s as if that is the be all and end all. And I would imagine you would give full support to the TTPA , as well.

      Basically … you are trying not to say , … but really mean TINA.

      So then , lets tally up the score , now shall we ?

      So far , we have a self confessed racist ( albeit an inverted one ) who likes to use that as a moral cover for racial exclusion yet at the same time expounds grand theory’s of economic / social revenge on all Caucasians due to past imperialism ( despite the fact that Japan , and yes , – even China were ‘ imperial’ at different stages as well as historical South American races) , who parades around with phrases such as ‘ colored workers uniting ‘ etc etc ,… then deny’s that completely by going to the other extreme by advocating the very same free market ideology’s that cause ‘ workers’ to be impoverished in the first place.

      You , Sir , are a hypocrite.

      I have not seen you on these forums before except during the last 12 or so days before the general election , – and I dare say after the election we will not see you again.

      And so , the conclusion drawn is no different than from before:

      That you are , in fact , a far right wing neo liberal globalist using the cover of guilt laden warped humanitarian values to further ( I would guess as it seems all too glaringly obvious ) your own financial advancement and that of your colleagues , – even if that means at the expense of , and stamping all over , – that beloved ‘coloured working class’ that you pretend to be so passionate about.

      The truth is you don’t give a damn about working people, – coloured or otherwise. You , – as in true neo liberal form, – only give a damn about yourself.

      And that is all.

    • Sam Sam says:

      Xo Jiping won’t even see us. Won’t even give two fingers about New Zealand cancelling a small 1 or 2 billion dollar trade deal. Besides all the action is in the Asian property market. Got bigger fish t to fry.

  23. NZBC says:

    Funny thing is a live in an apartment complex in Auckland. Price has basically doubled in 5 years. Girl downstairs is a Green supporter, the dude a couple of doors from me a Labour. They are simply creaming themselves over it. No way would they sell for under market value to help the poor struggling kiwi first time home buyer.

    The fact is its not about greedy chinese. Its greedy kiwis, Labour and Green supporters no different from right wing voters. Most people will hold out for the best price and sell to the highest bidder, rather than do their patriotic duty and give their house away for several hundred thousand less to a fellow countryman. Jacinda lives in Pt Chev —her place must be worth a bit —wonder if she would eschew capital gains on it if it ever came time to sell.

    I have a mate in Melbourne working in Real Estate –knocks on doors and tries to get listings —as in NZ, a lot of angst over Asian buyers. But as soon as he mentions the cash on offer, these Aussies eyes light up and they salivate over how much their properties are actually worth – and if they are overpriced so much the better!

    • Not sure what your point is, ‘NZBC’. You’re describing precisely the problem we are experiencing as a country.

    • David Stone says:

      It’s not about anyone’s greed . We are a capitalist society, people take advantage of opportunities that come available to them. If they don’t someone else will. It is the governance of our society that sets up a structure that enables the endeavours of one part to ruin another, and for opportunities arbitrarily offered to absent foreigners that ruin the lives and chances of the governments own constituents that are at fault.
      Capitalism should be structured so that the most attractive activities to entrepreneurs and investors are those that benefit society as a whole, not just a small proportion of society. It can be arranged like that and it has been in the past.
      D J S

    • Sam Sam says:

      Rent them? Air BnB to the rescue?

      • Red Buzzard says:

        re “Air BnB to the rescue?”…NOT if it deprives NZers of their housing and the profits go overseas

        • Sam Sam says:

          It’s just one of many investment models able to transition from bad investment decisions to better ones. Totally not linear. Totally not sitting back waiting for the opportunity of a life time to come knocking on the door.

  24. Melanie Scott says:

    This comment is a little date, and may not be seen by anyone, but I would refer any readers to an article buried in yesterdays Herald Business section (Friday 15 Sept) which says that the Chinese government has just relaxed restrictions on their citizens’ ability to invest off shore. This is expected to lead to an increase in property investment in Western countries.