Economic commentator predicts house prices rising 20 percent under National-ACT Government
Economic experts are predicting an increase in house prices if National and ACT take over in October.
Commentator Bernard Hickey says house prices could rise by 10-20 percent under a National-ACT Government after some key policy changes are implemented.
Bernard Hickey reckons both parties will likely make changes to interest deductibility, bright-line property rules and introduce a tighter fiscal policy around spending and borrowing.
“You’d likely see in the weeks after an election win, very busy auction houses, very busy open homes.”
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!
The electorate want to cut their nose off to spite Labour even when the face they mutilate is their own.
Labour squandered a once in a generation MMP majority and the backlash to their incrementalism could be the most extreme right wing party NZ has had since Roger Douglas.
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Labour squandered is the key point.
So now you just get the never leave home generation, because it’s either to expensive to buy a house or the rentals are over priced slums.
Landlords houses should have to pass WOF before becoming landlords.
Agree with the squandered remark, but it’s a bit rich to say that it’s Labours fault that NatAct consists of total wankers that have taken loads cash from the real estate industry. All this crap about it’s only houses over 2mil. A lot more houses will now magically be over 2mil and change.
If Labour weren’t such a fuck up would the Nats even be in the game? Very unlikely.
Excellent idea! They do for the most part already, except for state owned houses.
I would also add that people should have to pass a test before becoming a parents. Basic criteria should be:
– Employed for at least 3 years.
– At least $20,000 saved to meet the cost of the child.
Awesome!
Ah eugenics! I’s not like any right-winger has ever suggested that before. Oh wait!
Does that include govt and council homes as well or just private landlords?
Anyway I thought Kiwibuild fixed the housing shortage.
No BG our Prime Minister,Chippy,has now admitted Kiwi Build was a mistake which translates to an empty promise to garner votes.
NZ is a housing-based economy and polity. Housing is a government-backed wealth scheme.
Our media report on house prices every day, with increases a cause for general happiness.
That doesn’t excuse your favourite 2 parties from pursuing policies that hurt renters and buyers.
Tired of apologists for NAct economic vandalism.
Both major parties are as bad as each other. Ardern/Robertson/Orr spiked house prices 50% during the Covid house price boom.
So tax it then. We are also referred as an agricultural economy, an no one says don’t tax the profits.
“The media” can mean many things. Housing is reported on because paid for advertising. The Herald is a property mag with some other stories thrown in.
Great article Martyn, spot on analysis, this is NZ Corporate Socialism of the highest order, its a Private Public ownership scam & the reason why this Country is stuffed, it has no viable future for future generations forever locked out of Housing? The Landlord classes work hand in hand with the Govt, under Labour or National, it doesn’t matter, the only difference is the rort is greater under the Natz, both socialise Property speculation via Tax breaks & untaxed Rental gains then the Govt subsidise the parasite Landlords via the Accommodation supplement to the tune of $1.5 billion a year, its a double whammy of obscenity with the Taxpayers funding this thievery & this is turning NZ into a two tier Society, a Neofeudal Hellhole of two types of people, those who own Houses & those who don’t, the New Feudal Landowner class & the Peasant class like a modern day Middle ages! This rampant greed is the reason why we are having a never ending crime wave, it’s the have nots against the haves that will only get worse? Rampant crime is the result of keeping people in perpetual insecurity & instability it creates Social breakdown, Societal alienation & chaos by denying decent Housing to people which is a basic human right? NZ better prepare for the consequences of this assault on poor people just so a few greedy people can enrich themselves via selling Houses & Housing speculation? The disgusting thing is that in some Countries like in Latin America & others, they provide Land for poor people to build slums to house themselves on Land & a House they can build themselves & own? In NZ, this repugnant 3rd World Neoliberal Country, we can’t even manage that, we throw the unhoused poor in Hotel accommodation & enrich Hoteliers by billions, another Neoliberal Housing scam! Take a look at America especially in LA & their Homeless people in Skid Row, NZ will become just like that! And now with the immigration floodgates opening by hundreds of thousands in a effort to raise our phoney GDP figures, these people all need to be housed, the conjob Housing swindle continues by creating a Housing shortage & exacerbating demand to drive up rents & House prices & to drive down wages? You are right Martyn, this is a Class War, those who own House’s & those who don’t & Kiwis are becoming Tenants in their own Country! I can’t ever see a Time when this will improve, unless the long predicted Western collapse that’s taking place overseas, arrives here, the West is sinking under a Mountain of unsustainable Money printing & Debt creation causing runaway Inflation & a Global Financial collapse is coming to this Debt based Western Capitalist Financial System, the writing is on the Wall, it can’t come soon enough for me to financially wipe out these greedy bastard Property speculators that are enabled by Govts in lockstep with their grifting Housing swindle scams!
How come Natzo election hoardings outnumber labour hoardings a billion to one? Could it be because labour wants to step back and watch us all get fucked over by our overlords who will indeed gleefully fuck us. We must remember that it is neo-liberalism, i.e., roger douglas’s Ponzi scam that still has a stranglehold over our politics, ALL our politics. Here’s an idea. Stall the scam that’s this current system and mandate voting then let’s have another election in, say, twelve months time?
If we don’t try something we’ll be someone else’s within that time frame. Go outside, look around, say goodbye to everything you see. The ‘aliens’ are already reaching in past our democracy and entering our lives through the now four foreign owned banks.
Yes, it’s Labour’s campaign plan for 2032.
So true
The right don’t give a fuck even if they’re gonna be affected.
If you keep an eye on the house-buying schemes in the US and places in Europe. The Wall Street banks, Blackrock and other funds are buying tranches of houses. Tens of Thousands of them. That’s what is going to be happening here. Morgagee sales a creeping up and Blackrock has already an office on the north shore in Takapuna which has been set up to do just this in NZ.
When your employer owns the property that you pay rent to. They then own you! What is that called? Surfdumb? Something like that eh?
This is one of the most easiest results to pick in a looming election ,,,, with experts,polls and the media confidently predicting a one sided easy victory with almost total certainty …..
…. Since ‘Hillary Clinton’ Defeated ‘Donald Trump … 🙂 …
but to put a damper on this “it aint over till fat lady sings’ context and history ,,,, AoNz’s problem is the Nacts represent the Donald Trump part of our “same dog different leg action”, in our broken-down neo-lib political landscape ,,,
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I’d like to thank TDB for highlighting the Maori party’s tax policy and it’s real and tangible benefit to pensioners ,,, I’ve passed this info on to a few and it decided my party vote my ,, away from the sell-out Greens.
And I should thank my one of my grown children ( a Canterbury university qualified engineer and well paid data analyst) along with TDB, for reminding me that due to winning Electoral seats their presently sub 5% polling will not result in a party vote for them being wasted ,,, my other child who is a medical professional, lives and works in Australia ( thanks to right wing student loans/user pays idiocy), and being young and idealistic will probably vote for the Greens … Although they know who I vote for (because I tell them) ,,,, I do not ask them as they are adults and can make up their own minds ,,,, they are smart enough to know and agree that Act is a bad joke outfit though.
I presume National will not be telling THEIR voters in Epsom to vote for this hard right party this election? ,,,, the history of them doing that is the only reason the Act clown show survived and exists today.
Correct, however National have allowed the cancer that is ACT to grow.
The NZ Economy is based on Housing Speculation and a Housing Ponzi Scheme. Successive Governments both Labour and National have created an Economy based on Housing Speculation for NZ and Offshore Investors.
In Japan the housing market collapsed in the early 1980’s, now houses are purely built for housing people, and building houses for people to actually live in.
Labour got a bit more wrong than Covid:
They failed to reform media, so the public get almost nothing but the braying asses of the far Right.
They did nothing on housing that is measurable in terms of rents.
And, they took an authoritarian position on trans activism – no debate. Well, no debate means no assent.
Labour have been dead to me since Roger Douglas. Ardern was a glimmer of hope. Briefly.
That’s great we have Family Houses worth $3.5 million if the value increases 20% that will be a $750k tax free gain as I do not have any debt. Plus my $320 per week from the NZ pension plus ROI on investments a vote for National & ACT looks to be the best bet for me. However I disagree with this Policy as it is not in the best interests of the country and lower socio-economic groups ???
Labour certainly “fixed” the housing market.
Sure did, house prices dropped and first house buyers profited, fact.
That’s great we have Family Houses worth $3.5 million if the value increases 20% that will be a $750k tax free gain as I do not have any debt. Plus my $320 per week from the NZ pension plus ROI on investments a vote for National & ACT looks to be the best bet for me. However I disagree with this Policy as it is not in the best interests of the country and lower socio-economic groups ???
Property has gone up a lot since 2017…..who the hell has been in government since then….???
The biggest class war defeat for workers was the abolition of universal trade union membership. Prior to that, any other attacks could be defeated by means of a general strike.
Again, the housing market is cooked..
..move on with your life, buy a tent if need be.
luxury – we grew up in a matchbox in the middle of the street
It’s landlords and employers and farmers/developers/resource harvesting – vs an egalitarian society operating within a sustainable habitat.
dirty
cow shit brown
and 3rd world
tourism nzs new marketing slogan
Privatise the gains, socialise the losses. woo hoo – go the party political nightmare – it just keeps giving
The price of energy is going to fuck everyone over in the near to medium future. landlords included.
where was the worm? who was the biggest wriggler – yawn. nothing in this election gets me excited. although the moana interview with winston is an interesting watch.