2020-12-20 21:35:08 UTC
Ardern has categorically set her face aginst doing anything about rising house prices, exactly as did John Key before her.
RNZ's 'The Weekend Panel' with Bernard Hickey and Linda Clark - 19mins:
Start at “10’25. Clark then Hickey give the kind of stats that should give any listener pause.
From which I think it's fair to ask, is it any wonder that increasing numbers of young, first-time home buyers have given up all hope of ever owning the roof over their heads, renting being their only alternative?
In which case, is it also any wonder that, with low interest rates forecast to continue for the next 10 years, and with a government – any government - plainly unable to meet the mounting home-ownership shortfall, such effort is futile in the face of a rentier sector that’s doing its damnedest to ensure their promises can never be met?
“Most New Zealanders expect house price inflation, and that’s the way it is.” (Hickey quoting Ardern when replying to a question from an open-mouthed parliamentary press gallery.)
So, for as long as the Reserve Bank continues to print imaginary money that enables the rentier class to harden its grip on the housing supply, those not supported by the Bank of Mum and Dad now have no hope of owning a home they can truly call their own, along with that crucial sense of permanence and security that comes with it.
‘Fair go’, or what?