PM’s housing outburst bizarre – Labour

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Source: New Zealand Labour Party – PM’s housing outburst bizarre

Labour’s Housing spokesperson Phil Twyford has described the Prime Minister’s latest comments on the Auckland housing crisis as bizarre.

“John Key is deep in denial. He must be one of the only people left who are not concerned about the risk of the market going bust and causing immense human and economic damage.

“He seems to think that because Auckland’s astronomical house prices are the market at work, they must be okay. He is applying the logic of currency trading to the Auckland housing crisis.

“The Prime Minister needs to realise Auckland house prices are not just numbers on a screen. They are why a generation of young New Zealanders are shut out of home ownership, and why people are living in garages.

“When the Reserve Bank is insisting on new solutions to cracking down on speculators it is time the Prime Minister wasn’t quite so relaxed about Auckland’s housing crisis,” Phil Twyford says.

 

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Selwyn Manning, BCS (Hons.) MCS (Hons.) is an investigative political journalist with 23 years media experience. He specializes in reportage and analysis of socioeconomics, politics, foreign affairs, and security/intelligence issues. Selwyn has extensive experience as a commentator and has provided live political analysis to a wide range of television and radio organizations broadcasting in New Zealand, Australia and globally including the BBC (Five Live, London) and BBC (World Service). He is currently a correspondent to Australia's FiveAA radio, and is a regular live-on-air panelist on Radio New Zealand's The Panel with broadcaster Jim Mora.

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