The Minister of Housing’s ambition is to reduce markedly the ratio of house prices to household incomes. If his strategy works it would transform the housing market, dramatically changing the prospects of housing as an investment.
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On The Vote Metiria Turei of the Greens and National's Sam Lotu-Iiga both slipped up, and in doing so showed where their parties are potentially weak in Election 2014.
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Increasing the supply of housing is only part of the solution. Demand needs to be shored up. That means changing incentives so that wage earners can compete with investors.
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Bill English has stepped outside his comfort zone in announcing that he intends to fix our broken property market. Can he get builders to build more 'Toyota Corolla' homes? Or will he end up looking like King Canute before the rising tide of house prices?
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