After a mammoth battle behind the scenes to force transformative change in Housing past the Wellington Bureaucratic Elite, Jacinda has managed to push through some genuine punch at speculators, a diet CGT, fast forwarding brownfield infrastructure while leaving a mass State housing build and land tax off the table.
She got through some solutions, but not nearly enough to solve the Housing Crisis.
Here are the winners and losers.
Jacinda & Labour: When they set their mind to it they can force real change past the Wellington Bureaucratic Elites. The problem wasn’t being able to ram it through, the problem came when no one had a clear vision as to what comes next. Labour has the muscle, it needs the vision. Politically this will be a win to the majority owner-occupirs who hate speculators as well but enjoy the paper wealth from their inflated house valuation.
Diet CGT: The Bright-line extension is aimed at speculators. Sucks to be them.
Brownfield infrastructure: Throwing 3billion at the base costs of infrastructure will make an enormous difference to bringing some new houses onto the market quicker and cheaper but that number needed to be closer to $10Billion to be transformative.
Greens + Māori Party: This doesn’t remove the immediate hurt many renters are facing and gives the Greens and Māori Party vast new flanks to attack Labour from. If Labour won’t provide the vision, then the Māori Labour Caucus, Green Party and Māori Party will have to do it!
ACT: ACT just gained a vast new flood of angry rich Landlord Speculator members who are wild eyed at their property rights being molested.
Speculator Landlords: To all those landlords screaming they will now sell their rentals because of today’s announcement – GREAT! Flood the market and crash those prices now! We dare you! We double dare you! Scream more! We like it when you thrash around as well, do that, scream and thrash around. Great stuff.
National: Most home owners are owner-occupiers so Labour’s sharpest cuts aimed at the speculators bypass them altogether meaning there’s no where for National to win votes here. If National come out too pro Landlord, renters will hate them (more than they currently do) and turn off owner-occupiers while the angry speculators march off to ACT. National have been cleverly amputated here.
Beneficiaries, working class & Renters: Scum Landlords are already on social media boasting they will raid rents to punish renters, TDB will name and shame landlords who raise rents using this as the excuse, send them into us.
State Tenants: There’s no Mickey Savage style mass building for state tenants to remove the desperation at the bottom of the market. We need a bloody Ministry of Works that just builds State Houses!
First Time Home Buyers: The regional caps are nice but no real respite in the short term for the long suffering First Time Home buyer.
Todays announcement of a war on speculators won’t fix the housing crisis (if you didn’t want a war with speculators why give them $60billion to speculate with in the first place?) but it sure does felt good hearing those Landlords scream and until Labour build more bloody State Houses, a speculating Landlords scream will keep many warm at night.
This is the status quo with bells on it and the bells should not have been so hard to get through.
Jacinda has the political muscle, Labour has no political vision.
Without any realistic means towards home ownership, this is the new Treaty…
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