Daily review 20/05/2024

9 comments on “Daily review 20/05/2024 ”

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1. SPC 1

   20 May 2024 at 6:04 pm

   Is there any analyst who would consider the government budget plans of the coalition as more financially viable than Kainga Ora?

   Is its debt and cost of debt not also growing etc …
   • SPC 1.1

     20 May 2024 at 6:41 pm

     At this stage,

     "The other changes proposed by the review, including moving to a model where the government becomes an active purchaser that takes a social investment approach to cost-effectively improving housing outcomes, will be considered in the coming months

     This implies

     1.building less and instead buying up existing property instead – to rise the value of property.

     2.handing over houses to others (to reduce portfolio management costs) and calling this transfer "social investment"

     Otherwise the signal is "not mass sales", but of course sales on a smaller scale to manage down debt – on an annual basis become more substantial if they have a three term government.

     https://www.newshub.co.nz/home/politics/2024/05/bombshell-k-inga-ora-review-finds-agency-not-financially-viable-new-chair-board-refreshed.html

     Another National government intent on there being less state housing than when they came into office – despite knowledge of more people reaching age 65 without home ownership.
     • Ad 1.1.1

       20 May 2024 at 8:49 pm

       I think it means they won't be masterplanning whole suburbs anymore. Was good while it lasted, starting way back with Hobsonville.

       It may also mean that they pull back from being the housing property owner, to a position where they control more of the market through a series of contracts with housing providers. Something similar to public health provision to Maori via Maori health providers.

       Neither of these things I like. But Kainga Ora have been one of the strongest examples of imperial overreach we've had in a while, and at $21b in debt it was always going to end.

       Simon Moutter is a very tough operator, and his direction is clearly to clean house hard and deep using English's template.
       • SPC 1.1.1.1

         20 May 2024 at 9:01 pm

         After 9 years of neglect, there was no alternative to "over-reach".

         And we still need more state housing stock, by building and buying to renovate (for age, disability and group homes).

         While it involves debt, the assets grow as well.

         For mine, housing policy – state, rental terms tax policy is reason enough to remove this lot. But then so is the difference on incomes policy. And the …
         • Ad 1.1.1.1.1

           20 May 2024 at 9:33 pm

           No argument from me about the need for more public housing.

           Nor any argument against the need for Kainga Ora to renew the state house s it had, hence their need to rebuild whole suburbs like Owairaka and Northcote and Mangere and Point England and more. If only we'd had another three years …

           … but on the other hand Hobsonville started off in 2009 (in fact the MUL change application was back in 2006), and the others have been on the books for many years so they've actually delivered whole-suburb renewals and masterplans that will stand the test of time and they should be proud of them.

           I do also agree this government haven't got any policy or plan to replace what they are quickly dismantling.
   • SPC 1.2

     20 May 2024 at 7:03 pm

     The Minister Bishop is quoted on RNZ News saying he wants a more level field for social housing providers …
2. adam 2

   20 May 2024 at 8:20 pm

   If you missed that the billionaire class need to be stripped of their wealth, then I give you this video. Why do the hard right pretend millionaires are the ones we want to tax the buggery out of? When it's obvious that the billionaires are the ones who need to be taken down, pegs, 80% of them sounds about right. Or if history teaches anything, their heads will roll. It's for their own good, strip their wealth now. Do the Christian thing, before this goes to crap.
3. Ad 3

   20 May 2024 at 8:37 pm

   I do not know why Iran has to be the next country to destabilise among a regional chainsaw juggling act, but here we are.

   They have a choice of super-hardline zealots who could win an election that has to be held inside 50 days, or we have the ultra-technocrat ex-Teheran mayor who was a commander in the Iran-Iraq war.

   Just damn miserable global moment.
   • Maurice 3.1

     21 May 2024 at 12:36 am

     ALL of Musk's billions would have little effect up paying down the 34 TRILLION (and growing) US National Debt. Just a drop in the State bucket. It would take all the assets of a large number of Billionaires to pay off just ONE Trillion dollars of that debt – if indeed those assets could even be transferred in to money (most of the assets are shares/share options or physical assets NOT "money"). The only way to monetize such assets is for some one else to buy them – or the State to "nationalise" them. This would result in even MORE debt.

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