Thursday, September 01, 2016

Another "achievement" for National

National has given us another milestone: the most unaffordable houses in the civilised world:

New Zealand's housing unaffordability has reached another international high, in relation to how much we earn.

The International Monetary Fund's quarterly global housing watch report shows that New Zealand outpaced 30 other of the world's richest countries when house prices were compared with income during the first quarter of this year.

New Zealand hit nearly 130 points, topping an index which uses the year 2010 as its middle point.

It eclipsed Austria and Sweden, and Australia, which came 11th.

This is terrible news, which spells problems for our future. But don't expect National to do anything about it anytime soon. A clique of landed Auckland Boomers - including many National MPs - are doing very well out of this, and National isn't going to want to stop the party before they can dump the bag on some sucker. And while this means younger voters will increasingly see them as the fuckers whose policies locked them out of home ownership, like climate change, renewable energy and biodiversity, National has decided that that's a problem for a future government, not them.