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.