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Explaining the housing crisis in New Zealand
Please note: There is more to it, but it gets complicated and only answers and few more questions. I think the basics are more important to fully understand first. And as it really sinks in to those who are most affected ( unlike me. I already own commercial land and the businesses on it )
And yes, it is ok to be angry and feel betrayed. Just make sure it is directed at the right people. Our representatives are to blame for NOT looking after us. They quite simply sold us out, and gained personally from the controlled situation. I guarantee everyone will be surprised who was buying up houses, when money talks ,opposition politics take a walk Conspiracy.....? technically yes. But really it was just business for most people, and China looking after its own people.
Who to blame..... NOT the Chinese. They were just following the invitation. Any xenophobia would be highly misplaced.
Restriction were put in place by our Govt to try and halt N.Z. citizens from offering any competition in auctions. Hence the unusual steps to make it harder to get a loan. It had nothing to do with protecting N.Z. Citizens, only the investors targets.residential target was transferred to Auckland. So the whole 100,000 target was transferred to Auckland. 10 cities worldwide were chosen to be the main destinations. All had to have Casinos and other must haves. Auckland came second, Christchurch was 9th. Aiming for 50,000 properties in each city over a 20 year span. But the Earthquake's took Christchurch off the list. So the whole 100,00 (c) Why has Auckland been hit so hard ...?
The Official Chinese program of encouraging overseas retirement due to issues the One Child policy and pollution has created... This plan was formed just prior to 2005.
Note: They had to spend over a 1 Million on the investment house, so that is why the prices jumped up to that exact figure in certain desirable suburbs literally overnight. It quickly spread to other suburbs once those top of the list areas ran dry.
Important to note: Lots of M.P.s on all sides and others in the know, purchased lots of property in Auckland in close proximity to this law change. They made millions off basically what amounts to insider trading.
(b) In 2011 , the Investor Category 2 law changed for the first time to allow Residential property to be an "investment " ( previously only commercial property. Which is why so many shops have Chinese landlords ) .But not the family home they have to stay in 6 months of the year. Essentially forcing all new overseas investors to buy a minimum of two houses. And forcing them to become landlords ( most put under property management ) Why...Due to the fact they are never allowed to apply to be N.Z. Citizens. No dual passports allowed for Chinese Nationals.
So spelling out the N.Z. housing crisis in a way anyone can understand, and I promise the pieces will fall into place.
Including why everyone involved is lying their ass off about who is buying the houses and why.
(a) Helen Clarks FTA with China stipulate all Chinese Nationals purchasing property in N.Z. will be automatically given N.Z. citizen rights.
