Auckland house prices have exploded again, and are at the silly stage where the houses actually earn mor ein capital gains than their inhabitants do in salaries. So what is the government doing about it? Nothing:
The Government has effectively left nothing "undone" to tackle sky-rocketing house prices in Auckland, Finance Minister Bill English saysBullshit. There are two very obvious policies the government could pursue to end this rampanat inflation:
"The best thing we can do for low and middle income families in Auckland is to allow the place to grow - growing up or growing out, that's the choice for Auckland to make," English said.
"You see in the media every day now commentators ranting about how the Government should do something about the housing market. Well I think Mayor Len [Brown] would agree there's pretty much not really anything left undone that can be done that happens fast enough.
- They could tax capital gains, and so make house price speculation unprofitable.
- They could address the underlying supply issues with a mass building programme aimed at increasing the supply of decent, affordable homes.