Trev is focussed on the real issues as usual. Has always been a bully boy and gets to keep his role despite his litany of transgressions over the years. The most disgraceful speaker in NZ's history.
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Excuse from clueless Cindy & her team of nincompoops - 5 fold increase in housing waiting list, skyrocketing property & rental prices are all unintended consequences of blaming & legislating against overseas speculators, property investors and landlords for the housing crisis.
And indeed it is now not a crisis but a full blown disaster.
All spin and no delivery - that’s Cindy.
Remember how she loved it hard & short? Now it’s all about soft & long.
Wait for the inflationary wage spiral which she has just initiated - one very dumb woman in charge of NZ.
Labour are dolts, small business is going broke while the terrorized population shelter in place from Omicron which is little more now than the common cold. Oh, the double and triple-jabbed population.........
Let's see how forgiving or kind the General Public are going to be of this rapidly
worsening situation due to Govt's failure to control it:
https://www.stuff.co.nz/national/hea...icron-outbreak
Covid-19: 'Sharp increase' as 810 new community cases reported in Omicron outbreak
The protests in Wellington may well be just the tip of widespread deeper & growing dissatisfaction
of this Govt and what it has or mostly hasn't achieved ;)
Jacinda can seal the deal by removing the coat tail rule.
Act will soon fall below 5% as I predicted months ago.
Are they failures though? I'm sure Labour carefully considered the impacts of net migration and their rental policies on supply before legislating.
Meanwhile, Christchurch tenants are in trouble, see link. A property manager there said ''... the situation was caused by more landlords selling up. “They’ve had two years of extra tax and compliance costs, and with real estate prices high their property is worth more. We’ve had a lot of landlords sell up and pick up the capital gain.”
True enough but most of the cause is government policies. Certainly a noticeable upward shift in properties for sale, though to be fair 2021 was pretty weird.
https://www.stuff.co.nz/business/pro...t-higher-rents
Not according to the latest poll (Roy Morgan) :
https://www.roymorgan.com/findings/8...2-202202072332
Support for a potential National/ Act NZ coalition government is now at 48.5% and clearly ahead of the current Labour/ Greens government of Prime Minister Jacinda Ardern on 43.5%.
Of course they're failures
If the participants in the market are the very ones that may be able to get you out of
an increasingly difficult bind - you dont go forgetting what the original issue was
to try and blame the other participants and turn them away ..:)
That only compounds the issue further, which is exactly what has happened.
Who can blame some in the sphere from finally having had a guts full of a Govt
who would rather attack those providing Accomodation than fixing it - resulting
in sell ups and more in the queue ?
Property price rises are symptom of the prevailing market conditions
- Record Returnees
- Limited new stock on the market / being built (Brightline / Interest deduction / material for builds etc)
- Low Interest rates
- Record & increasing buyer demand
- Huge amounts of excess credit availability
Let's face it All or most rental properties at some point will end up on the market
If Govt wants to suffocate something in onerous bureaucracy & red tape, an
administration process that favours tenants over property owners (the later
being painted by Govt in many cases wrongly as the Big Bad Wolf) and make
Landlords target practice, then a growing degree of attrition should be expected
Overall Govt's handing of the property market, wrongly thinking they can control
free market operating) while not performing on what they set out to achieve
and were expected to, represents an overall FAIL for this Government
The same Pass mark as they should be awarded for almost anything else they
touched across their terms to date - that is an overall Fail on a job in the main
poorly initiated, delivered on (if at all)
The Residential Rental Property market has seen changes along the way which have
lead to the current crisis:
1. Removal of Depreciation deduction
2. Limitation of Interest deduction
3. Bright Line restriction on sales / Tax
4. Huge Rental demand
5. Exit of former owners with the changes
6. Excess Build Demands at time of Materials Supply issues
Who would want to be a landlord when successive Govt's have shown
they are incapable of seeing the light on what is needed to solve a
potential future problem ?
Potential new RRP owners would have to be very brave, in face of the
Socialist ideals of the current Govt still in play (abeit in head winds)
There are other far more attractive investments areas without all the nonsense
The RRP market operated quite happily in times of earlier Labour Govt terms
(ie Clark/Cullen) suppling a good proportion of market demand before
Government meddling started to change all that ..
That is why we have a problem now and the current Govt have failed to demonstrate
that they any clues on how to fix or improve what has evolved for the better IMO :)
True enough, though I wouldn't put money on it as sentiment is very volatile. RM polls do have a good track record of being close to election day actuals.
The next government is going to be no fun to run or for the shrinking pool of net taxpayers. Labour / Green >>> karma.
PM said inflation was 'imported' ....I read in the paper this morning that Wellington protest 'feels imported'
Not our fault
Typical labour party trick. Dirty politics at it's finest.
5% rule was fine when anderton was the beneficiary.
Sure you don't mean that Labour has to rustle any old sort of renegade bunch
of weirdos & roughies by way of support to get in ? ;)
Bad news - there will be fair few of them who have been dumped on by Labour
in the current terms ..
The fine margin will be fading away rapidly with every screw up Labour make
if it hasn't already evaporated completely ;)
Forget what polls say about the Spinning Parrot, at end of the day the proof is in the pudding
or what's not there, which will probably be the case when the plate reaches you :)
Govt's Covid rules working well -
https://www.stuff.co.nz/national/hea...-mass-closures
Covid-19: 'Crisis' in Queenstown as staff isolation rules cause mass closures
Cindy can run, she can hide but she cannot fool NZers anymore with her BS.
She is not prepared to comment about her speaker (who stabbed an innocent man's career in the back & got taxpayers to pay his legal costs) turning on the sprinklers on the protestors (including children) :
https://www.nzherald.co.nz/nz/covid-...7MQUQUIU4IIR4/
Prime Minister Jacinda Arden has been questioned as to why sprinklers were used on anti-mandate protesters over the weekend, including women and children.
During a press conference on Monday afternoon, Ardern was asked about Trevor Mallard's decision to turn sprinklers on at Parliament on speakers late last week.
"In the spirit of being kind why did the speaker turn the sprinklers on women and kids," a journalist asked Ardern.
Ardern said she would not pass judgment on Mallard or the police.
You need a shower too unbalanced bur no matter how hard you scrub your stink of nastiness,mistruth,,turbospin, fabrication, warped reality,hatred will never wash off you're stuck with it old prune.Whale oil.
Time is up, JT and for Cindy.
NZers have woken up to the fact that Cindy is full of crap & BS - all spin & no delivery.
Be kind, Cindy said. Be tolerant, Cindy implored.
Well, given how far she is prepared to bend backwards to accommodate Trevor Mallard & the Maori cabal, she can kiss my arse with her homilies.
PM admiration of Goff continues ....from when she worked for him years ago
PM’s comments on Goff unbelievable given SFO probe
14 FEBRUARY
The Taxpayers’ Union is condemning the Prime Minister for her comments about Auckland Mayor Phil Goff as a disgraceful shot across the bows of the Serious Fraud Office’s investigation into Mr Goff for alleged electoral corruption.
Speaking to media at the Post-Cab, the Prime Minister offered “I can personally attest to the fact Phil Goff is a man of great integrity.”
“In the context of the continuing SFO probe, it is difficult to believe the PM would go out on a limb like this unless she was trying to prod on the investigation,” said Jordan Williams, a spokesman for the Taxpayers’ Union.
“Of course the Government is in a difficult position. It would be difficult for the Government to appoint Mr Goff to Washington, or any diplomatic post for that matter, while he is still subject to the corruption investigation.”
The SFO confirmed to the Taxpayers’ Union today that their investigation is on-going.
Cant be much other worthwhile "GOOD" news for a Govt Spin a Spin when they have to pick
something that may inevitably see another shower of Egg thrown back at Govt ;)
No accolades for this hapless Govt on trying to deflect attention away from their incompetence
yet again.. Full marks however for digging the hole deeper and attracting more Spotlights ;)
A Government which has clearly lost it's way and is on a Slippery Slope ;)
Robbo is preparing income protection insurance scheme for high income earners so they can keep paying their inflated mortages once our 'all eggs in one basket' economy collapses. Since the levies collected will be a drop in the bucket compared to the massive payouts that are coming, one again it is 'the NZ taxpayer' (future generations, as already Robbo is borrowing $1 Billion a week) paying for all the asset owning communications staff, latte makers, middle managers, property spruikers and other essentially useless 'workers' that are going to be out of a job.
Yep Unbalanced,your arse is waving in the wind alright ,no takers ,lol. Whale oil.
Wonder if he will try to include his arrogant dreamy mates in the Beehive pews as Employees' ;)
Some of these skillsets probably are probably worthy of only a portion of the Unemployment
Benefit and no more based what everyone has seen ;)
perhaps he could find a spot for our floating anchor who seems to be a lost cause on here
- assuming they can find a spare unoccupied pew to park his ass on .. ? ;)
Cheers robbo. The open door migration policy followed by the previous govt makes it slightly harder for people across every skill level to secure new jobs than it should be.
https://www.nzherald.co.nz/business/...O3WXNKFBBLGKE/
Liam Dann: Is the housing slump finally here?
(behind the NZH Paywall)
If/when it occurs and foreclosures become the norm, we can be almost guaranteed of DENIALS
coming from ARDERN, ROBERTSON and the HOUSING Muppet - true to form, can't we ? ;)
The article mentions factors influencing market downward direction as - record levels of new building, low immigration, tightened investor and lending regulations, rising interest rates specifically fixed-term mortgage rates, tightening of loan-to-value limits and new responsible lending requirements.
The article does not mention what landlords might do, or why, yet those investors currently own a third of the housing stock and their decisions to sell or buy are material. With some 600k rentals even a small increase in selling up will change the market and importantly for renters.
Investors are going to focus on new builds now, at least until the interest non deductibility and bright line reversals kick in.
Which they will, even if not next year. But with rising build costs those new builds are not going to cater for the lower end of the market unless they are shoeboxes or financed by taxpayers as social housing.
Meanwhile, landlords considering selling who do their sums might well decide to sit out the period until the bright line expires, including leaving the property vacant due largely to the new government rules around tenant tenure rights.
So there is likely to be a steady flow of rentals onto the market in 2023.
The 5 year bright line starts to expire first quarter 2023, now not far off the time to give tenants notice and prepare property for sale. And a change of government next year will see bright line back to 2 years and interest non deductibility gone.
Those sums will include taking into account paying 39% of potentially large capital gain to the government.
PM says inflation has been imported ……Chris Hipkins defends the govt on inflation citing the 2010 GST increase.
Goodness gracious
'Tim Kelleher, head of institutional foreign exchange sales for the Commonwealth Bank New Zealand, said Stats NZ’s yearly migration statistics, released today, were holding back the currency.
NZ’s migration data showed New Zealand had a net loss of 4,000 migrants leaving the country during the full year ending Dec 31.
“It's a risk to the New Zealand economy that we lose our youngest and brightest offshore,” Kelleher told BusinessDesk.@
https://www.goodreturns.co.nz/articl...or+15+Feb+2022
Look outside your tiny little mind bubble and see what is happening in the world,old fruit.Maybe give up investing ,you're on a highway to poverty if you're going to be that myopic and spin political garbage,so transparent.Youve become what you accuse others of a mini me balance.
A full blown housing catastrophe - that’s Cindy’s real legacy after her humungous election promise of affordable housing for NZers:
https://www.stuff.co.nz/business/mon...phe-not-crisis
Kiwibuild & Santa Claus, anyone?
If National has any brains at all they will start using the term Labours Housing Catastrophe in question time, and Seymour should start using it as well.
This will deliniate a period under the Labour government when the 'crisis' morphed into something much bigger. It will be difficult for Labour to keep wittering away about "that previous government" when they are being made to own a distinct new phase in the evolution of this issue. A 'crisis' has conatations of a situation that is troubling but not yet a full blow disaster, a 'catastrophe' is a clear unmitigated disaster.
https://www.stuff.co.nz/national/pol...s-and-act-down
Latest polls - the trend continues of National closing the gap. A swing of 3 % on Election Day will see Cindy moving onto her UN job, leaving the catastrophic housing mess she created behind for others to sort out.
People usually change the government when they are angry and afraid. To COVID-19 fatigue and angst you can add anger and fear around inflation, and now property owners are scenting the air for danger as they witness a diametric reversal of all the factors that were pushing up NZ's ridiculous property prices. The fear is real out there. NZ is caught in a trap, caught between the jaws of inflation & our property bubble. Now the people that assumed the risk and took on massive debt will not be wanting to face any adverse consequences, and the pressure will come again for politicians and central bankers to prop them up and bail them out. We cannot have a repeat of 2020, when steps to shore up the market were met with a dramatic increase in house prices. We should learn from this failure, learn that moves to stabilise will only stoke a renewal of the mania. Once bitten, twice shy. For the sake of our collective future and that of future genetrations, our politicians of all stripes must resist the temptation to use taxpayer dollars to bail out asset owners who took risk knowing that interest rates go up & down and that the market responds to elevated prices by meeting demand through a building boom.
- Failure to follow through on KiwiBuild. Incompetence of ministers Twyford and Woods.
- Undermining the independence of the central bank with the addition of an employment focus to the mandate.
- Undermining the independence of the central bank with the partisan choice of the under qualified Adrian Orr as the governor.
- The famous 'Ardern Put' where she said that house prices cannot be allowed to fall as 'that is not what Kiwi's expect'. Government should never encourage moral hazard or back-stop the market with real or implied guarantees or taxpayer funds.
- The government stokes the demand side via the use of taxpayer funds and other gimmicks. The OECD wants the Government to stop allowing people to withdraw funds from their KiwiSaver accounts for their first-homes. It also wants an end to First Home Loans and First Home Grants available to low-income earners and first home buyers.
All the Returnees I guess - but who's policies & spins encouraged that
Would Labour be dumb enough to blame them (like they did Landlords) ? :)
The returnees must be being housed somewhere or have bought - as there don't appear to
to be many or any of these ones who are camped out in front of the beehive :)
Obviously no-one was bright enough in the Govt ranks to extrapolate that for all
the building activity - there wouldn't be enough materials at hand or in this part of
the world to complete but a fraction of them ;)
Whichever govt consultant gave three waters its name should be moved on.
Healthy water reform.. simple, easy and improved. who could argue against that
This ongoing meme is a drag on the govt.
artemis, just in case you missed it as it wasn't quoted to your post. Here is your answer. All clear now, or so I assume.
"Whichever govt consultant gave Three waters its name should be moved on.
Healthy water reform.. simple, easy and improved. who can argue against that?
The ongoing meme is a drag on the govt.
Plus no maximum limit on the number of houses one individual can own.
How long before Jacinda panics at the putrid plunging poll numbers and confluence of cascading catastrophes?
Protesters on the doorstep, inflation on the rise, housing a debacle, COVID fatigue stalking the land - and Grant is looking like the cat who got the cream for some reason.
And in a free market they wouldn't, because prices would already have been allowed to fall. Instead we have a central bank trying to be the master puppeteer and doing daft things like printing money and suppressing interest rates. We have Jacinda 'getting first home buyers on the ladder' using taxpayer funds, and now she's trying to move heaven and earth against market forces because she's actually sold these people down the river: they will be donkey deep in negative equity if it all turns to custard. Labour have been just as guilty as any other party of pumping up immigrant numbers pre-pandemic & that is ideologically in their wheelhouse with the Left's desire for 'multiculturalism'. But it meant housing demand overwhelming housing supply while it continued. So she can talk about 'pulling on levers' but its all just talk.
You can say that Labour have done a lot of things that National did or would have done, but that goes to the heart of the problem. Labour campaigned on having the answers, they campaigned on fixing the crisis, on making housing affordable. You can vault someone onto the ladder using gimmicks but that is not making housing affordable, it is just pretending to do so.
Remember this ?
https://www.stuff.co.nz/national/pol...ention-centres
The offer to take 150 refugees currently detained on Manus Island and Nauru stands, the prime minister says.
"Jacinda Ardern said she wanted to reconfirm New Zealand's offer to Australia to take 150 refugees who had been subject to offshore processing legislation."
She tried to show the Aussies up and well, NZ is reaping the reward now as Australia gets ready to unleash even more 501 criminals back got NZ :
"You want refugees? We have plenty in Oz we will send you."
https://www.nzherald.co.nz/nz/foreig...BMURWKJ4ATC3Y/
"Foreign Minister Nanaia Mahuta says she would be concerned at any moves in Australia that could increase the number of New Zealand citizens being deported.
The Australian government is working through changes to its Migration Act, which would give the immigration minister more power under the "character test" to deport people who have been convicted of a crime."
https://www.nzherald.co.nz/resizer/G...6JYHCO7GRA.jpg
I urge the Prime Minister to capitulate to the demands of the Parliament Grounds occupiers.
It wont be an unaccustomed decision for her as she has already capitulated to the Ihumotao occupiers.
Boop boop de do
Marilyn
What’s wrong, JT?
Can’t sleep with worries about something (like NZers seeing through all of Cindy’s BS & spin) so you feel compelled to post at 5.30 am in the wee hours?
Can we help?
Don’t be embarrassed to reach out to us, ok? We are all humans and unlike Cindy, are genuinely kind.
Labour may still be polling strongly as of now but as inflation starts to bite and we stare down the barrell of a property market down-turn then things can change quite rapidly, and the polls are starting to indicate this. The anti-mandates crew are getting a lot of support from traditional Labour voters as well, and there is a backlash at Jacinda's handling of the protest.
Additional to the above, I can see a likely scenario where disillusioned parts of the Labour base simply don't show up and vote come the next election. They won't be motivated to vote for Labour, so they won't bother.
The swing away from Labour next election could well be significant. Like you say a large core of traditional labour voters are dissolutioned to say the least. Where they turn to is another story.
I say bring back Winston which sounds absolutely ridiculous but these are strange times. Who would have ever thought the devil you know could one day be made to look viable considering the options.
The trouble with bringing back Winston is the others he would bring with him.
Ok Winston, I hear you mate. I'm not happy that you put Cindy in power out of spite and a vendetta against the biggest party. National won 44.45% of the vote yet you went with horsey and her bribes and baubles mate. I will never forget or forgive & you got the boot in 2020 so take the hint and bugger off.
A mediocre 44% is not a majority thankfully.
Still fighting battles six years ago when there was a massive worldwide pandemic and near economic recession since then.
Still fighting battles six years ago
Straight out of the Labour play book really. Whenever anyone asks them to make progress on housing or mental health or ICU beds or anything else for that matter, they start raving about "that previous government". Labour in 2016 wanted a state of emergency declared on the 'housing crisis', yet today we have a 5 fold increase in the waiting list for public housing & we have the most unaffordable housing market in the world.
And the dozy labour shills don't even know that the previous government was the labour/winston 1st debacle!
And Bill the Dill(pickle:) hasn't a clue how lucky he is here with this govt guiding us through with some of the best stats in the whole wide world.Thank dog National now have a leader who is at least coming across as competent in a CEO spin way. Its a horrible thought to think what would have happened in the last two years under National/Act,make for a classic horror movie.
John key gave up and thought he could do better.
Imagine having a team with Judith collins, gerry brownlee, Joyce and Simon bridges in it :(
Dreamer, we have them now and all the better for it,it's not perfect but it's the best we've got, no contest.That other party is all talk and Harry hindsight,just hope they can rebuild sometime and be more effective as an opposition,we live in hope.
You ok, JT? It's not good for you to be up at 5 am and posting on ST, you know. We are here for you if you need help with your problems.
Meanwhile, this is what your Cindy is all about :
https://images.squarespace-cdn.com/c...g?format=2500w
Hell of a worry, especially when she decided to bugger off from Wellington today for some photo ops away from the bad optics of her government being unable to handle the protestors.
Job must be really really getting to her.
Might be a bit risky straying away from the Pet Duck's Compound - she might
bring back a few Covid Guests to keep all the rest of the Comrades company ;)
Guess visiting schools is off limits now - probably too many difficult questions from
the kiddies and a balling out likely from Parents & Teachers .. well deserved too :)
Don't worry Cindy - you can run and try to hide but COVID Will seek you out and find you ;)
Does any one understand Panda's posts?