The Affordable-Housing Theatre continues, with politicians feigning interest in the problem they’ve helped cause, while signalling to house-owning voters that, “no worries,” their house prices will be safely high with them.
Yet almost everybody who owns a home has relatives who can’t, and wishes they could. and surveys show that nearly two-thirds of Aucklanders and more than half of those who own a home would prefer that house prices either “fell a bit” or “fell dramatically” over the next year. And more than four in five understand we’re in a bubble.
And any economist who understands that prosperity doesn’t grow in a bubble knows that unaffordable housing costs us all in the end.
But does that bother the PM? Nah. Not a bit. Anybody who thinks house prices should fall is “crazy.” And yesterday in the parliament he said Metiria Turei’s quite sensible observation that house prices too high represented “a war on the poor.”
Logic has gone totally out the window. It’s out there on the wind, along with the rising price of houses, and the promises to do something about it.