Thread by @We3forDemocracy

As many as one in five house buyers in NZ may be 'foreign'

[Does this stat include local proxies buying for foreigners or for foreign corporations or foreign govts?]
stuff.co.nz/business/prope…

Pressure is being put on govt by lobbyists for foreign investors to let inflationary real estate investment by foreigners continue

If govt gives into pressure from “talking heads” of wealthy foreign investors 👉🏼most New Zealanders will not ever be able to buy or keep a home

The inflationary effect of housing as an investment , (beyond the family home) by New Zealanders and NZ Real Estate companies
👉🏼is also contributing to inflationary housing and rental costs
👉🏼and it potentially enables proxy buying by foreigners, through New Zealanders.

In addition, inflationary effect of house values on Council rates - constitutes a serious threat to people of ordinary means, who are retired being able to keep their homes.

A bit of a reduction does not compensate for Council Rates taking up a substantial part of superannuation

Mayors, Councilers or MP’s who suggest that the solution to affordable housing is more foreign Real Estate investment 🤯are out of their minds🤯
👉🏼and clearly acting in the interest of big money and foreigners, not the interest of ordinary New Zealanders.

It is also not good enough to rely indefinitely on foreign construction firms for housing projects.

Conditional contracts for a set period that require training of local NZ citizens (not transients) should be built into contracts - so we have a sustainable local housing industry