Written By: - Date published: 9:37 am, March 1st, 2013 - 51 comments
Categories: capital gains, class war, david cunliffe, housing, overseas investment, tertiary education, tv - Tags: Peter Dunne, student debt
Yesterday, David Cunliffe, in response to Peter Dunne’s Student Loan Amendment Bill, labelled Dunne as “Minister for Small Changes” (to the student loan and child support Bills), and “Minister for Small Things”. Small, but significant in relation to Dunne’s MO.
Cunliffe talked about the growing inter-generational swindle being perpetrated by the current costs of getting a university education, compared with the cost of “Old Peter” Dunne’s higher education. Born in 1954 he likely paid nothing for his tertiary education, and is leading a “charmed life” on a ministerial salary, and in a few years can claim superannuation. Cunliffe argued that Dunne doesn’t agree with “paying forward” to give the same advantages to today’s young people that Dunne received.
If Dunne had been born in 1995, and wanted to do the same university study of undergraduate and graduate study of 5 years, it would cost $5,000-$6,000 (and some change) per year. Thus before heading to work, he’d be looking at $30,000 debt for fees alone, without considering living costs, which would extend the debt to $64,000 plus.
So today “young Peter” would be unable to afford a mortgage. Meanwhile those of “Old Peter’s” generation who have invested in capital gains-free housing, have created the destructive housing bubble.
And yesterday, Peter Dunne used Twitter to smear as racist, the Green’s statements about limiting the ability of non-NZ residents to buy property in NZ. TV3 gave it an anti-Asian slant last night. The TV3 report stated,
Almost two-thirds of voters want restrictions placed on foreigners buying property in order to bring house prices down, according to the latest 3 News Reid Research poll.
Of the 200 people at an auction on Auckland’s North Shore today about half were Asian. Three houses sold in 20 minutes, all to Asians.
If the bidders aren’t New Zealand residents or citizens, if they are foreign buyers – the Greens would like restrictions placed on them.
They say it’s not racist; it’s about controlling house prices.
“Most New Zealanders are not racist. They understand that it is simply people from overseas that are driving up the price of property,” says party co-leader Russel Norman.
Two-thirds of voters agree with the Greens.
Asked, if to make houses more affordable the Government should put restrictions in place to stop foreigners from buying up investment properties here, 63 percent said yes, 30 percent no and the rest didn’t know.
Under law, in Australia non-residents cannot buy established dwellings as investment properties. The Greens want a similar ban here – at least on investment properties – but the Prime Minister won’t go there.
The Green and Left xenophobes seem to be out tonight! They don’t like foreigners owning property but say it’s nothing to do with race!!!
The Greens & Labour’s attacks on Asians owning property has eerie overtones of Nazi Germany singling out groups because of race. Not decent.
The crisis in (un)affordable housing has several causes, though all linked by underlying “neoliberal” policies and propaganda. The main focus continues to be on the affordability of home buying. However, the crisis is most severe for those on low incomes that are renting. The more intense focus on home buying is part of the problem. Also part of the problem are big spending non-resident buyers of property in NZ (from diverse countries including the US and Europe), and the shifting of the goal posts over the last few decades.
A large number of boomers don’t own property, especially those who have always been on relatively low incomes. However, with the “neoliberal” swindle, even middle income young people are now suffering as a result of the housing crisis.
Of course, those boomers like Dunne who have benefited from the rise and rise of the “neoliberal” swindle, want to keep it that way.