Labour govt 2020-23

[nztx]

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

[artemis]

..... For whom the polls tell.

Very clever! Mind you, on current polling the 'tell' is a Labour / Green government in 2023.

[Panda-NZ-]

Jacinda can seal the deal by removing the coat tail rule.

Act will soon fall below 5% as I predicted months ago.

[artemis]

....
Who has FAILED on Rental Accomodation demands & growing queues ?

Who tried to blame the associated market demands FALSELY on Rental Property
Owners providing solutions to this ?

Who thought they could control the Market by imposing Criteria limiting sales
Taxing within Brightline periods ? ....

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

[Balance]

Very clever! Mind you, on current polling the 'tell' is a Labour / Green government in 2023.

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%.

[nztx]

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

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

[artemis]

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%.

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.

[Panda-NZ-]

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.

It's what is often called a honeymoon (as good as it gets).

[artemis]

Of course they're failures ....

Unless it pushes forward the Great Reset. In which case, minor blips on the way to the NWO.

[nztx]

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.

Very true indeed