Labour finds a new policy to undermine Shearer

If there is any doubt that Labour is driving itself into a ditch, one need look no further than their new policy of banning foreigners from purchasing houses.

Real estate industry commentators are questioning whether Labour’s new policy to restrict foreign ownership of houses will work.

Today, Labour leader David Shearer told TVNZ’s Q+A programme the policy would put a halt on foreign speculators coming into the housing market and pushing the prices up.david-shearer

“We’re going to restrict, almost totally, foreign ownership, to buy established houses that are here.

“What we want to do is to make sure that first home buyers are Kiwis and they have the best chance.”

(I don’t even like to use the word foreigner.  It has strong connotations of seeing people as not being “us”, or being somehow less worth of what “we” have in “our” country.)

And this, only weeks after their “man ban” policy was dropped like a hot potato. Which was a pity – that one would only hurt them.

This policy on the other hand, has the potential to do major damage to our foreign relationships. Worse, it will be easily avoided. But on the plus side, it’ll lose them lot of votes among immigrants.

Funny thing is, we actually purchased our current house from people who had only stayed in New Zealand for a short time before leaving. That’s just the way it is – people come, people go.

In other news, some idiot in Invercargill blasted a taxi driver for being foreign looking or something. However, he’s apologised so early reports he was looking to be the new Labour party candidate are unlikely. /sarc

At this point, Shearer is looking pretty hapless. Goff did a better job than this guy. I say keep him on!

1 comment

  1. The overheated property market needs to be curbed and a raft of small measures need to be taken together to achieve this. Banning foreigners from owning residential properties isn’t really necessary though because Labour will introduce a capital gains tax on the sale of investment properties regardless of who owns them and this will see Labour achieve their aim of money moving out of the property market anyway. Overseas investors need to understand that they will still be able to invest in commercial property. We don’t want their equity taken out of the country altogether; we just want more affordable housing.

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