There are glorious moments on TV that manage to just grasp a moment and give true insight.
One such moment was Q+A last weekend when right wing commentator Liam Hehir simply threw up his hands and stated that maybe we needed to be honest and admit entire generations are now locked out of home ownership.
The naked truth of that just sits in front of us and must be explored.
The reality is that entire generations are now locked out of home ownership through a combination of the commodification of housing in a lax regulation environment.
So now that fact is before us, what do we do?
Let’s look at this charts…
So Labour turn on the taps to the corporate banks to start an orgy of property speculation that has now priced home ownership beyond the reach of entire generations and Grant’s worried NOW because this venal greed risks crashing the entire economy.
Note – Grant’s concerned when his policy failure risks collapsing the economy NOT when it was crucifying renters, the homeless, beneficiaries and the working class.
Those 4000 kids living in motels will be so pleased Grant its thinking about stern action to stop those greedy property speculators from fucking the entire economy…while they stay in those motels of course.
The IMF agrees we are in trouble…
The International Monetary Fund has praised New Zealand’s economic performance in response to Covid-19, but warns it is vulnerable to a housing downturn.
…the truth (like everything else in fucking NZ), is that the under regulated free market has been warped by the wealthy for their interests and all Labour attempt is bullshit tinkering on the sides rather than challenge the dominance of neoliberal theology.
We have allowed the commodification of houses to be a means to make wealth and people are chasing that with all the nuance of meth addicts in a P lab.
If Labour wanted actual solutions, these 4 would do it.
1 – FLOOD MARKET WITH MASS STATE HOUSING REBUILD: End the scum landlord subsidy of housing allowances end putting money into the pockets of unscrupulous motel owners by rapidly building 50 000 new state homes. Scum Landlords can do as they please because the level of desperation amongst renters gives them total power. Flooding the market with 50 000 new state houses would rob scum landlords of that desperation.
2 – STATE HOUSE FOR LIFE: Allow beneficiaries to stay in their state home for life so that they can create stable communities and that their desperation is never transported back to Landlords.
3 – DEPOSIT RESTRICTIONS: First time home buys should be required to have 10% deposit, but the more properties you own, the higher the deposit. The reason the speculators can out buy any first time home owner is because they can use their multiple properties to leverage more debt. If you are a property speculator, you need to turn up with a 70% deposit to counter the leverage multiple properties allows them.
4 – RENTER RIGHTS: Long term low rent rise environment.
If Labour want to actually solve the problem they have to regulate the market and re-set it so that speculation is punished while first home ownership and housing of the poor is championed.
For too long we have allowed the the rich to dictate the rules, if Labour’s kindness is to be meaningful, it needs to challenge that dynamic.
If a right wing commentator like Liam Hehir can see it, how can Labour not?
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