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Our used housing investment market is on a bullish swing. The trouble is that these used houses produce nothing, so the money invested is purely speculative. There is no gain to the country from them, they cannot be exported, they are not transferable.
Housing reform is therefore needed, where used housing becomes a special type of asset, protected from investors.
Chemists, for example, until recently (and maybe still), can only own a single shop in a town. Why is that?
It is because people are obliged to buy medicine and government (us) considered it necessary to protect them from exploitation.
People are also obliged to live in houses ... so there is a good case for protecting them from the current housing exploitation by the middle-class (who own nearly all the used, tenanted houses).
There would be shrieks of anger from the middle class, but so what? The rental class are people too: nobody cares about them either.
GJ PHILIP
Rotorua