NZ First leader Winston Peters has criticised National’s plan to expand access to 5% home loans, warning first-home buyers could have no equity if house prices fall.
During his weekly discussion on RCR, Peters said deposits should instead be about 10-15%, with assistance to help buyers reach that level. “It sounds good until you study it,” he said, arguing National did not understand the housing market and overlooked the risks facing buyers should property values plunge.
Peters also took aim at TOP and the Maori Party’s Treaty proposals, discussed Government gas projects, NZ First’s push to restrict NZ Super to citizens, police move-on orders and the latest polling.
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Whats really needed are pre-fabricated, affordable homes. This approach has worked in places like Germany. There also needs to be more competition in the market for building materials, here they can cost 50% more than the equivalent in Australia. Cutting council red tape is another area which would help, as would capping rates which add considerably to the total cost of home ownership. Of course, this wont happen, as too many vested interests would loose too much.
Do not be fooled with interest 5% interest rates. The government is likely to be the guarantor.
Cut the bloated government. cut regulation by 90%, remigration of migrants who are taking jobs and houses.
I’m pissed off with Winston Peters because I think he’s stabbed the freedom community in the back. But I just have to say that Winston is quite right about this particular issue – from a commonsense viewpoint, the 5% equity is just far too risky. Anybody reading the history of Germany’s inflation and economy between 1932 and 1938 would be similarly concerned at the similar pressures inflicted upon society by external forces which left the ordinary German people with no choice but to support chronic nazism.
Winnie runs with the hares and hunts with the hounds
And has more colour contortions than a chameleon or an octopus
But Winnie is a survivor at least in this life
For many years New Zealand has relied upon a system i call an inflation economy. Wealth created by shortage.
To bring house prices down more must be built. However, before a house can be built, infrastructure such as the roads and the utilities beneath that road plus water reservoirs on top of hills. And collection facilities including delivery infrastructure for these resources. Electricity, gas etc.
The real problem is New Zealand has far too many properties for the amount of people who live in this country. This is the most significant and serious issue this nation faces. People have left the country for a better deal. Moreover the birthrate sitting at just 1.5%. will be working its way through the primary and secondary schools roles making its way towards student rolls in higher education, apprenticeships and eventually, the workforce. It is compounding. In 5 years time, i see the largest falloff in population.
The government and it doesn’t matter what side you’re on, must address this endgame. And im not talking about importing foreigners from countries who are not a good fit. Sadly the womens rights movement, fully funded and with its own ministry hasn’t worked it out. Why women are childless.
I know people are going to call me a male chauvinist pig. Greedy. I am not. I am a very generous man. I simply do not wish to be stripped of my weath and be treated poorly by the wealth redistribution experts calling themselves the family court.
Go ahead politicians and ignore these real facts and expect the nation to grow. To put it simply, it can’t without his levels of imagination.
I can tell you as a man, the notion I have to giveaway 50% of my wealth to my ex and pay her for her lifestyle and boyfriends doesn’t sound appealing. Politicians must start protecting property rights. The birthrate now lies with males who are fully risk adverse.