Mega landlord who predicted downturn will ‘sell-up and leave NZ’ if Labour wins
Matthew Ryan predicted the property market downturn before it even began.
In 2021 he predicted it could fall up to 20%.
House prices are currently 17% below their peak, according to the Real Estate Institute (REINZ).
Ryan, who owns over 100 properties, now sees two very different future visions for house prices, depending on who wins the October election.
If the result is a National win, or a National-ACT coalition, he predicted the return of tax advantages to investors and greater confidence among landlords would contribute to a 5% to 10% price rise.
If the outcome were a Labour-Green, or even a Labour-Green-Te Pāti Māori coalition, Ryan predicted prices could fall another 10-15%.
If the latter happened: “I will sell everything up that I own in New Zealand, and I’ll go and live somewhere else. You can literally quote that, because that’s what I will do.”
A slum Lord threatens to sell up and leave to Australia, good.
Don’t let the door hit you in the arse!
Real Estate Pimps have donated millions to National and in return National have lifted the Foreign Buyers Ban and will give landlords the right to kick tenants out with no notice. National and ACT will also role back Tenants rights while reopening Landlord tax loop holes.
There is a class war on renters but we don’t have the political vocabulary to articulate it.
By opening NZ up to foreign speculators while reopening landlord tax loops holes, National and ACT are opening NZ up for sale to their overseas wealthy mates.
Let’s remind ourselves just how vested the Landlord class is..
…there is an unspoken promise between the neoliberal State and the untaxed capital gains private landlord class that the neoliberal State never builds enough State Houses to alleviate housing desperation so that the untaxed capital gains private landlord class can exploit that housing desperation ON TOP OF getting a $1.5Billion annual subsidy in the form of the Accommodation Allowance EVERY SINGLE YEAR!
I’m not going to tell you who to vote for, but if you are a Renter, you can’t vote ACT or National!
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Again, the housing market is cooked..
..put the hopium pipe down and MOVE ON.
Yes, but we voted Labour last time to stop the massive house price rises and they let them double and treble. Jacinda seemed relaxed about the rises? We are fucked either way.
Jacinda’s legacy will be noted as when home ownership slipped out of the reach of the working couple.
We need more rentals for a young mobile group that do not want to settle and be in the home owning trap of previous generations.When I arrived here I was surprised at the pressure to buy a house and commit to a mortgage and do without to pay it. In the UK many rented for life and no stigma to that.
Go back there and take your shit with you. NZ was a great country unique when I first migrated here.
Looking at Matthew Ryan’s pic on The Post story you gotta be impressed. Well sort of. Looks Gen Z to me. A 100 properties at that age! Ffs, its taken me a lifetime to get just one. But I do have a clear conscience … and don’t have to think about being forced across the ditch.
If anything the Labour government has done nothing but enrich this fuckwit and his 100 properties. Piss off and don’t come back, the days of the greedy housing pimp are over.
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