Want to see the most bizarre, idiotic and self centred analysis of the housing crisis in Aotearoa ever presented?
Here it is. From Eva Corlett at Radio New Zealand:
Property Investors Federation’s executive officer Sharon Cullwick argued while property investors may not be helping the housing supply problem, they aren’t hindering it.
But she said first home buyers are, when it comes to purchasing rentals off the market.
“If a first home buyer purchases a property that was a rental property, then you’ll need another house to house the extra people living in that rental house.”
“So every time a first home buyer buys a house – even though it’s great they are getting into the market – it actually makes the housing crisis worse,” she said.”
Pesky young people buying houses so they have somewhere to live are creating the housing crisis? Not blood sucking landlords who are wanting to provide the same houses to otherwise first home buyers but at a rate so that in the long term makes the young persons poorer and the landlords richer? Clearly their definition of “housing crisis” is anything that makes it more difficult for landlords to continue to amass wealth, not anything that makes it more difficult for people to live in affordable housing.
Low interest rates are a contributor to the problem and the housing market is currently booming. I suspect that the Government will have to move on Loan Value ratios in the near future.
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