As Marty G has pointed out Bill English is looking into killing the tax advantages for investing in housing. Good.
But it’s not nearly enough.
Every person in New Zealand should have the right to exist somewhere without having to pay for it. And yet as the Herald reports today, house prices continue to increase:
Auckland property prices surged nearly 6 per cent in October, says real estate company Barfoot & Thompson.
The Average sales price across the region in October was $544,745, a 22-month high.
We’re going to need more radical solutions than closing a tax loophole if we’re going to maintain every Kiwi’s right to a slice of paradise.