Little replies to property specualtors
Good piece by Andrew Little where he addresses the arguments of the property speculators. “It’s common sense. Taxpayers shouldn’t be subsidising speculators and helping them outbid home buyers.”
property speculation
Property speculator panic
Labour has set the cat among the property speculator pigeons, and they don’t like it at all.
The ghost house epidemic and the invisible hand
Last year there were officially 22,000 unoccupied properties in Auckland. This year 33,000 are officially classified as empty. “Auckland’s 6.6 per cent vacancy rate is higher than either Sydney (5.2 per cent) or Melbourne (4.8 per cent), where there has been an uproar over “ghost houses” deliberately left empty by speculators trading on a soaring market”. This is madness.
Banks act on housing affordability crisis (while National sits on its hands)
Despite Key’s barnstorming 2007 speech on the housing affordability crisis, National these days prefer to deny that it exists. Apparently fed up with waiting for the government to take action, banks are moving to reduce their risk and limit foreign buyers.
The hidden homeless and the speculators
Speculators keep buying houses while families live in garages and cars. This is a moral failure, a leadership failure, a market failure – it is every kind of failure.
NRT: Facilitating tax cheats
I/S at No Right Turn on a reported rush in demand ahead of new rules for real estate transactions aimed at cracking down on tax cheats and speculators.
If you thought the Auckland property bubble was bad now…
… then prepare for it to get a lot worse.
Rushed policy is bad policy
National’s policy opens the door to more effective capital gains tax, thus irritating investors and their base, while probably not achieving anything in practice. The worst of both worlds. Bonus question – does this policy effectively underwrite losses when the property bubble bursts? Plus another bonus John Key lie!
English welcomes Reserve Bank doing his job for him
Why is it left to the Reserve Bank to try and tackle the property bubble? It’s true – this government is recklessly complacent.
Fifty year mortgages
Fifty year mortgages are here, and as usual the game is rigged against the ordinary buyer. Madness.