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Support for off shore speculator ban

Written By: - Date published: 3:29 pm, August 7th, 2013 - 51 comments
Categories: housing, labour - Tags:

support-housing-policy

51 comments on “Support for off shore speculator ban ”

  1. BM 1

    This poster is complete shit.
    Unbelievable.

    • BLiP 1.1

      Did you note the 62? That’s how many seats, minimum, for the Greens-Labour coalition next year. Russell Norman for Finance Minister . . . get used it.

    • fender 1.2

      Yes the poster named “BM” is complete shit, I agree.

      You better ring TVNZ and inform them of your concerns, they did the poll, it was on One News last night.

      • BM 1.2.1

        With the Fonterra stuff going on at the moment and the way China is reacting do they honestly believe this is a great time to be putting out this sort of nonsense.

        One gets the feeling they really don’t care too much about the NZ economy.

        • BLiP 1.2.1.1

          With the Fonterra GCSB stuff going on at the moment and the way China John Key is reacting do they honestly believe this is a great time to be putting out this sort of nonsense reminder of forward-looking, equitable, and international accepted policy.

          One gets the feeling they David Shearer and Russell Norman really don’t care too much about the NZ economyyoung people who want a real place in Aotearoa rather than becoming tennants in their own land.

          FIFY. No charge.

          • Populuxe1 1.2.1.1.1

            +1
            Though one wonders whether this might be a signal to Winston Peters

            • Vagabundo 1.2.1.1.1.1

              Let’s say hypothetically that Key publicly sends out feelers to Peters to try to get him onside as a coalition partner. There’s no guarantee that the Conservatives, or any of the thinly-veiled Bigot Brigade parties of that ilk, will get into Parliament while the chances of both of UF (or just Dunne on his lonesome) and ACT getting back in are remote, at best.

              One thing that doesn’t really get brought up enough is whether or not Key and Peters would even be compatible or remotely functional as coalition partners. That’s not to mention the likelihood of Key’s definitive statements on ruling out the possibility of Peters being in a Key-led government prior to the 2008 and 2011 elections being thrown in his face.
              I’m also fairly sure that Key outright stated Peters is synonymous with unstable government during the debates with Goff a couple of years ago too.

              • Mike S

                Peters also stated categorically on TV that buying back the power companies would be a non negotiable requirement for NZFirst to go into coalition with National. I can’t see Key doing that, he’s way to proud.

          • insider 1.2.1.1.2

            If they want to know what being a tenant in your own land is like, they should have a chat to Raymond Huo. I believe he has a strong interest in multiple tenants. He may be one of those people at those house auctions russel and David seem so concerned about

        • jamiep 1.2.1.2

          They do care about NZ but they are not going to bend over to the highest bidder, quality is what counts and living in China. They care about the people in NZ, not just the select few. I can assure you if you want NZ to end up like the hell hole this place is and garbage that they eat that is where NZ is heading and China already has the KEY to get in. Chinese show you respect when you stand up for want your about and will walk over you if you do not. NZ will always have plenty of markets to sell its milk products to and China has no choice but to take what they can.
          Its interesting that Fonterra sat on the information for 5 months and then decided to do something about it? Were they thinking about the NZ economy or themselves and their mates?

          • Colonial Viper 1.2.1.2.1

            I reckon they were thinking about their share offer, which was being priced by investors at the exact same time.

      • BLiP 1.2.2

        Hahahahaha!! Excellent and exact literal interpretation of BuM’s brainfart. Or was it a parapraxis, an unconscious admission of the self-loathing sustained cognitive dissonance creates. Must have been a real fright to see 62% of New Zealanders think limiting non-productive financial speculation in housing is a good idea.

      • Linz 1.2.3

        Good one, Fender.

    • jamiep 1.3

      Must be good to get you so riled up, lived overseas for awhile now, try and buy property in most non-west nations, they won’t allow you or put stipulation on it. Look what’s happening to Fonterra when you prostitute yourself to the highest buyer and forget about your quality control -pure 100% What’s your BS on that AH?

  2. James 2

    I pick this will be dropped just like the great idea of GST on fruit and vegs (didnt they have a simpliar poster about that XX% want gst dropped etc ??).

    It wont work, it wont make a difference, and labour dont really believe in it.

    they wont win, and will try to drum up another populist policy for the following election.

    • richard 2.1

      …and labour dont really believe in it.

      The proof will be when Labour gets into power after the next election.

      If they don’t believe it, they will assign it to the Overseas Investment Office, who’s sole role in life is to act as a rubber-stamp for the approval of foreigners’ purchases of NZ land.

      If they do believe it, they will ditch the OIO and come up with a regime that really does act to prevent New Zealanders from becoming tenants in their own country.

    • jamiep 2.2

      If it won’t work why are you commenting on it? What are scared of, what’s your real agender?

  3. James 3

    And to be pedantic – the text is wrong.

    Nearly two thirds – 62% – of poll respondents said they thought measures should be put in place to RESTRICT foreign buyers. not PREVENT them.

  4. Winston Smith 4

    He does look a little creepy in that photo (I’m sure hes not in real life)

  5. King Kong 5

    I really hope this is part of a series. Tommorow; 62% of New Zealanders thought I had already been rolled by Grant Robertson (the other 38% had no idea who I was).

  6. Steve Wrathall 6

    Winston forgot to put his wig on before the photo shoot again

  7. Rosetinted 7

    And I bet lots support the right of any NZ to get up on his or her roof, though taking due caution, and inspect or clean it, or patch it, or paint it, or clear out starling’s nests, or check for wasp’s nests or any or all of the aforesaid measures or any other that might be deemed to be necessary in the opinion of such resident, householder or other party with rights or interest in thereof, without the need to get an RMA or an OK or a RSF (Right said Fred) from any political leader.

  8. bad12 8

    The exception tho being Australian speculators who by dint of higher wages and a higher valued dollar already have 2 advantages over the average Kiwi home buyer,

    So, what may well occur is that having barred everyone else from speculating in the New Zealand market the upper layers of monied speculation are removed leaving the Australian speculators, who may well have been constrained by the Brits and others having even higher earnings and better valued currencies, who might just pour more money into the New Zealand market filling the gap left by those who are barred,

    A 1-4% lessening of demand tho is still a positive move no matter how slight, but, hardly a magic wand of comprehensive housing policy which i suggest will fail to move the polls just as the KiwiBuild announcement was an abject failure in terms of political poll movement for Labour,

    The whole thrust of Labour’s present housing policy seems to me to be firmly fixated upon middle class home ownership and Labour have failed abysmally to bring forward any policy that would effect the lives of the tens of 1000’s of Mene Mene’s who provide their labour to the economy for scant reward,

    Mene Mene a hard working stiff who’s hours of work and low wages confines Him, Wife, and 3 children to 1 room in a boarding house can expect what from Labour as the major partner of the next Government, to stay right where He and the whanau are right now???…

  9. tc 9

    Best way to stop speculation is a CGT, just copy/paste oz’s save time. everyone treated the same.

    Residential home exempt of course (as per Oz).

    • Colonial Viper 9.1

      A CGT is a necessary but insufficient step in holding back house price increases. If you were being cynical, you might predict that neither Labour nor National will ever take sufficient steps to effectively stop residential housing from being a speculative investment asset.

      • Mike S 9.1.1

        If they were really serious about taking sufficient steps they would ban foreigners, trusts and companies from buying residential property and make a law which allows individuals to own a maximum of 2 or 3 (a home and holiday home and a rental maybe) residential properties. Or they could legislate maximum rents and base them on the minimum wage, etc.

        Not saying I think these are a good thing to do, just commenting that if they were serious instead of just politicking they would come up with some serious (controversial) policies.

        • Colonial Viper 9.1.1.1

          You wouldn’t want to risk alienating those all important “middle class” (read top 20%) voters.

    • wtl 9.2

      I think the main advantage of a CGT is not that it will stop speculation but at least ensure that speculators pay their share of tax on the income they earned from speculating.

    • bad12 9.3

      Speculation tho is only one small part of the housing affordability issue, a far greater problem in terms of numbers is the second house that has become extremely fashionable as a long term investment for the middle class in this country,

      It’s a simple supply and demand situation where successive Governments have paid scant attention to State housing numbers as the population grew from 3.3 million to 4.4 million in a short compressed time-frame when compared to previous population growth,

      The simple arithmetic tells us that the same percentage of the population whatever that populations number at any given time will need the same percentage of State Housing, because of a lack of building of these State houses we can see in the numbers the root cause of today’s housing affordability issue,

      For a population of 3.3 million there were 75,000 State Houses of various sizes, with the population at 4.4 million there are now only 67,000 State Houses and that number is continuously being whittled away, these numbers suggest that the number of State houses should be at least 100,000,

      Therein lies the root cause of the housing affordability crisis, restricting the number of State Houses has created demand for rental property and the middle class with cheap money to borrow and tax breaks on interest payments have moved into aquiring second and third property’s to hold for the medium to long term renting these out to those who cannot buy property themselves for sums 50+% of their tenants incomes,

      Once this body of monied middle class landlords created demand in the market along came the speculators after the quick buck pushing prices ever higher in a 3 way tussle between the new home buyers, the newbie landlords and themselves over the shrinking amounts of property for sale,

      My point is that little will be achieved by driving out the speculators from the market as the demand from the would be Landlords will only increase if house price rises stop or a decrease occurs in the market price of property,

      In having a policy which shoe-horns the children of the middle class into property ownership Labour is simply ensuring that the affordability of housing, on the negative side, is then resting soly on the shoulders of the low waged workers who will never own their own home,

      The kids of today’s middle class will become the landlords of tomorrow, following in their parents footsteps, once gaining enough equity in their homes kindly provided by a Labour Government they will simply in 5 years use the growing equity they possess in these new homes to go on to buy a second and third property as medium to long term rental investments thus the Government will have simply added to the housing affordability issue in the medium term…

      • tc 9.3.1

        Good points and CV is right about CGT alone not being enough but it does mean the deliberate wealth creation is taxed rather than tax free which is alot of the fuel behind escalting house prices …..a low risk tax free kaching.

        Another big factor in affordability is the cost of building, fletchers, CHH etc profiteering due to market dominance.

        I was surprised to see how low our public housing rates are even before the NACT sell off of stock that’s being currently indulged in which makes a bad sitaution even worse.

        Our PM traded bigtime off his state house childhood another ladder they are pulling up behind them.

      • Rosetinted 9.3.2

        Bad12
        Really good to see figures on state housing. I didn’t know how many but that there wen’t enough, and the figures just knock you over. The pollies just abandoned this powerful stabilising supportive part of the welfare system, one that if properly financed and accounted, could have almost paid its way. And they would have encouraged more to shift into low-cost houses with a mortgage and a caveat that the house would be sold back into the government housing stock with a small return to the departing owners. There was no reason for the well built houses to be lost into the profit-making private industry.

  10. TheContrarian 10

    I was at a speaking engagement Shearer was speaking at this morning and he mentioned this policy. He spoke quite well too…

    • lprent 10.1

      He has been getting more consistently better recently. Looks like he finally accepted some advice about his wee communication problem.

      It is almost boring the art of getting stubborn and quite unready politicians ready for the fray. Still I guess that is a whole lot better than having the glib unthinking hand-puppets who wind up dragging the country into the mire through inattention to their task (Key and Lange come to mind).

      • TheContrarian 10.1.1

        Sure, his reading from the notes was better and the message was great (the message and policy was very good indeed). But the reaction to questions for which one cannot prepare could be better

  11. Jackal 11

    After repeatedly ripping into Labour for not rising much in the polls, claiming this was because nobody gave a damn about the spying debacle or supported Labour’s housing policy, Cameron Slater hasn’t posted anything about the 62% of Kiwi voters polled by Culmar Brunton who support Labour’s plan to limit foreigners purchasing New Zealand homes. Twenty odd posts later and the oily propagandist cannot bring himself to even acknowledge that Labour is onto a winner.

    • Colonial Viper 11.1

      People were overwhelimingly against asset sales, but despite the No Asset Sales policy Labour got 28% at the election. Support for a single policy doesn’t necessarily translate into anything else.

      • Jackal 11.1.1

        It’s not just a single policy though CV…it’s most of Labour’s policy. You seem to be saying the difference is due to the cult of personality and a majority of people are supporting Labour policy but voting National because they’re blinded by all that Teflon glowing. Personally I don’t see the appeal and think this difference is just another indication that the polls are unreliable.

      • Mike S 11.1.2

        Yep, people seem to like alot of labour policy yet National still thrashes them in polls. Either the polls are way way out which they could be, or people just can’t see Shearer as PM.

  12. Rhinocrates 12

    I love the policy, but oh God, Jesus and Cthulhu, It makes my eyes bleed. Can someone please find a more convincing mascot? How about a hedgehog or a jar of marmalade?

    • Rosetinted 12.1

      Rhino
      What say a nice buzzy bee?

      • Chooky 12.1.1

        Put his head in a glass jar and he would look more attractive and interesting…or put Black Adder’s black, bell- curve, Miiddle Ages hat on him …even have him prancing on a horse….all would add to his appeal

  13. insider 13

    Why doesn’t shearer have a chat to chris hipkins about the difficulties young kiwis find getting onto the housing ladder. Chris has said himself that he was near penniless six years ago when he got back to nz and now look at him- still struggling with only three houses and a family trust.

    We need to learn from examples like chris. Hopefully his story is informing his labour colleagues of challenges faced in building a portfolio in the face of rapacious overseas investors . If it weren’t for patriots like chris, we’d be running out of houses

    • Colonial Viper 13.1

      Minimum wage of $150,000 pa plus expenses plus generous super scheme might help

      Given a bit more time he might also score a $2.1M diplomatic mansion too

  14. xtasy 14

    Advice to DS: Do NOT lean on that 62 per cent letter box, thanks, you are the last one to lean complacently on anything! Do NOT LEAN on anything, please. It transmits the wrong image.

    That is part of the image I see of DS, he is “leaning” and sitting back too much, that is not what NZ needs, we need ACTION, a resolute person, a leader of sorts that can connect, not by just patting heads of kiddies and smiling, we are in damned difficult times, we need one that can put the helmet on, to step into a fighter plane sort of (excuse my comparison).

    It is beyond tolerance and appreciation to just continue asking about stuff ups re GCSB, we want and need real challenge and action ACROSS THE BOARD now!

    Action, resolute words and messages are just the start of what NZ needs.

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