Letters: Is there really a shortage of houses in NZ?
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Aerial view of the Western Heights suburb of Rotorua. Photo / File
Rotorua Daily Post
The Government has just announced a $300 million boost for homelessness. Is there really a shortage of houses in NZ? Take into consideration unoccupied ghost houses and Airbnbs, and maybe not.
Neither Labour orNational will bring in a capital gains tax because it might be political suicide.
People continue to put their surplus cash into real estate or leverage off an existing home. With interest rates so low comes cheap borrowing. But that bank deposit is not going to make you rich.
House prices go up as demand outstrips supply.
The taxpayer pays to keep the homeless in motels, and the investor buys another house which they do not live in. As Gareth Morgan said "I go to bed at night and wake up next morning richer".
Alright if you are standing on the right rung of the property ladder.
Lesley Haddon Rotorua
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