10 January 2005

Leave Housing Market Alone

Keith Patterson, Libertarianz Housing Deregulation Spokesman, urges Labour not to engage in its housing assistance scheme for first time home buyers. Patterson says, "This trendy, populist new assistance project is not only a moral disgrace, but will also result in a massive warping of the housing market."

"Housing New Zealand plans to redistribute taxpayer funds towards up to 10,000 families, funds that belong to those who have acquired property through their own efforts and funded their own decisions in life," says Patterson. "I cannot deny that it is getting more difficult to break into the Auckland housing market at this time. However, there is no justification for making a claim to my own possessions simply because someone else has chosen to participate within the market and is woefully financially endowed."

Libertarianz advocates removing all government controls and assistance in any market, including the accomodation supplement which Libertarianz suggest is helping to create a bubble in the market by falsely inflating rental returns. "The role of government is protection of property rights, not funding property purchases or subsidising landlords," says Patterson. In addition, Libertarianz will privatise the state housing system and ensure that those who do buy or rent do so through free-market processes.

ENDS

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