This was evident in headlines the day of the announcement: “Government housing policy creates economic uncertainty, driving down NZ rates and NZD which is down 2.3% in last 24 hours”. That’s what makes Labour’s housing bombshell so dangerous – it is creating uncertainty at a precarious time. And, the deep seated problems that beset the housing sector, that must be resolved if New Zealand’s housing market is ever to function properly, still remain. Unfortunately, Labour doesn’t appear to have the fortitude to make the changes that are necessary, and so it is attacking property investors instead. They were introduced by a Government desperate to be seen to be doing something about a runaway property market.

Source: Otago Daily Times March 30, 2021 21:33 UTC