So, let me see if I have this right: National’s big announcement on affordable housing was the increase the income and house price limits for getting the Kiwisaver First Home Deposit Subsidy. In other words, pour more money into the over-heated housing market. And do that, not by helping those in real need who are shut out of the market now, but by giving cash to people previously considered too well-off for the subsidy – ie families in the $100,000-$120,000 income bracket, that’s the 70-80% highest income households.
What a fantastic idea! That’s far better than building affordable homes, passing on the government’s low cost of borrowing to young families to buy a home, and locking out speculators both foreign and domestic. Just give piles of public money to people who, let’s face it can buy a house anyway – it’s not like $5k more for your deposit when you’ve got an income over $100,000 is going to be absolutely crucial.
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