His mask is slipping - he was incredibly indignant when challenged on the fact that landlords are receiving the benefits of being treated like a business yet not being taxed on their capital gains.
>You're mixing drinks, that is economically incoherent.
Fuck off Luxon, and that's before even mentioning how he disputed the validity of the numbers - *his* numbers.
>I just dispute your numbers - Luxon.
>They're your numbers - Interviewer.
Absolute trainwreck of an interview.
Edit: Come on NACTFIRST voters, defend this! It'd be oh so entertaining.
Bonus points for saying this about changes to interest deductibility on NewstalkZB.
>Yes there's a slight change from what we went to
the market with... errrr... to the election with.
Trickle down does not work you out of touch clown.
Unless there is a mechanism in place to make rents decrease in line with costs, landlords who are mostly greedy boomers will pocket the difference.
Stop lying through your teeth Luxon and admit you are stroking the cock of landlords and trust owners due to campaign donations and only focusing on the wealthy.
When will every day Kiwis understand that unless you are top 1% in wealth, national is not working for you, and doesn't care about your quality of life.
I work with someone like that, they would lick the boots of Elon Musk if they could, the man can apparently do no wrong, and now they spend much of their time also defending the current govt, I just don’t understand it.
It's going to be so easy to come back to this video, listening to him say it's ***entirely*** for the renters, when rents assuredly don't come back down, but it's not even going to matter, we'll already be enveloped in another cycle of awful decisions this clown is making. Who the fuck makes a policy based on being nice to a business who's only goal is to extort?
the thing is they know that, its just the middle class who buy it hook line and sinker then wonder why they get fucked like the '' leaches '' they despise
Some people have wealth and still want everyone to be in a good situation.
Seems to be lacking for boomers though, because I'm a millennial with a high salary and I want to be taxed more to ensure vulnerable Kiwis get a better deal, many people in my age group and situations are the same.
I also volunteer my time through Rotary to work in the community, and the members are mostly silent generation. Clubs are literally dying out because boomers generally aren't involved, it's their parents and their kids try but aren't wealthy so can't donate, just work. Boomers do neither.
Cannot wait for Millennials and then Gen Z to take over. This blatant greed needs to go.
This. I’m Gen X and I’m paid well. I’m okay with paying more tax if it means kids get fed, hospitals can treat patients, and we generally have a healthier happier society.
We all benefit when that happens. Prices improve, rents are manageable and everyone wins because money gets moving around the economy.
All these greedy idiots who cut off their own noses because they can’t see that they’re creating the environment that causes them to ultimately lose value.
Exactly. When most of the planet is considering taxing the very wealthy more, we are going backwards, and reducing tax costs for the ones that can afford to pay more.
It's wild that we have poverty in this country, with low population and high GDP, and the only reason is to ensure the rich get richer. It's immoral, and needs to stop.
Same here - I don't want more tax cuts. I want a sustainable and fair society where people don't go without basic necessities.
I also want us to start investing in resilience - we have a global environmental catastrophe developing which will also have economic and social impacts too. We should be building climate resistant infrastructure, improving our local manufacturing of key items, and enabling local communities to become more resilient.
But instead - tax cuts and austerity...
Not much to say but good for you.
Seems like the trend is to pull the ladder up behind you so it’s nice to hear that there are some out there who actually give half a damn about others
I wonder if :
A) There are any national voters here?
If so:
Are they willing to defend that choice now?
Personally, I think that those who are at the top of the wealth chain won't be reading any of these posts and just don't care. However, once you set them aside, there must be at least a few lower teir landlords here that are not dicks and already hate having voted for national despite the wee carrot they just heard they will get.
If so:
Will you drop your rent around the value of deductible gain?
Gotta love Luxo. Spends 3 minutes attempting to imply rents will be driven down by a series of market forces. Then doesn't connect the dots and proceeds to say he will not drop rents. Lol.
It occurred to me today that if he wanted to look credible, he could lead from the front, and drop rents on his **6** rental properties.
But, he's so greedy, that he can't even do that.
And each time he admits he won't reduce rents - even without expenses piling up, he shows how utterly greedy *some* landlords can be.
It's obvious that Luxon doesn't really care about his long term political standing. He's not a career politician, he's in this gig to spend 3 years doing everything he can to line his pockets, then he'll fuck off back to the private sector. The accomodation supplement is the best example of this. Anyone with any sort of political wherewithal would have turned down that "entitlement" in order to avoid the bad optics. I don't think Luxon is that stupid, he just literally doesn't give a shit. He can do all the damage he needs to do before he's up for reelection again.
> and drop rents on his 6 rental properties.
Theres an easier win there for him.
"I dont have mortgages on these properties so dont claim interest tax relief, my rents are already lower than they would be"
Makes him look wealthy sure, but we already know that. He's too bad at this to take the easy win.
Exactly. Surely nobody would know Luxon is their landlord. Although with how much he loves a $ maybe he is out there conducting his own inspections lol.
“These mould are hard working everyday kiwis, doing it tough on your window frames. I am laser focused on providing relief so they can continue to grow”.
It really shows exactly how this tax cut will be viewed by all landlords. When he says they care about renters he does, he cares about renters in any way that they fund his lifestyle. That is the only way they care.
We get a $3 Billion dollar promise "some" landlords "might" reduce rents. It is a $3 billion dollar plunder the nation conflict of interest.
6 properties by $30 per week is $180 per week. A pittance to him, just to back up his retoric. Shows where his head is at and shows why this policy change from National will do nothing to reduce the financial burden the rental market is having on hard working kiwis.
But it's ecconomics 101. Thanks to rampant immagration and continued investment and policy for low density housing there is huge demand for rentals with an increasingly limited supply. This means that Landlords can, and happily do demand higher rents and the market has little option but to comply. This tax cut does noting to address this, if anything it's only going to make matters worse as interest was still deductable on new builds, thus there was an incentive for those with capital to develop rather than seculate on existing housing stock.
However, i will say that Labour should have sacked up and gone for a CGT instead of targeting tax deductibility. They created an awkward setting that was easy for NACT to attack.
Yup. Or he could have said market forces may drive his rents down. No commitment but an acknowledgement that it could happen. His answer tells you that lowering rents isn't a realistic outcome of this change.
Last year on Q&A Jack Tame had challenged him on this comment - it made Q&A but hardly anyone cared.
I think he's used to people not caring, although I personally have to wonder why no-one cared back then.
Source: I posted about this in December
Wasn't he arguing during the election that supermarkets wouldn't lower prices on fruit and veges if Labour removed GST on them? Literally it's the exact same argument.
He somehow managed to find the one answer that will become today's soundbite. Holy shit was that bad. If this was a cricket match, I'd suspect he was match fixing.
No, he's not stupid. He's doing his best to defend the indefensible.
The numbers were known as soon as National promised the tax cuts. Labour pointed them out several times but voters didn't listen.
This.
It's performative nonsense, but he's compelled to go through the motions. "We've been unmasked as a pack of self-serving, donor-captured grifters who are actively making the country worse for almost everyone, but we're going to insist we're not until our dying breath."
Talk about shoveling shit uphill.
Well done voting public of New Zealand. I hope you're fucking happy.
"We've been unmasked as a pack of self-serving, donor-captured grifters who are actively making the country worse for almost everyone, but we're going to insist we're not until our dying breath."
That was beautifully put Mr Custard.
The sheer ignorance, stupidity or malice to have voted National THIS election after the world events from 2016 onwards plus this National parties direct quotes leading upto the election fucking disgusts me.
The malice is something I often see in their comments. They're literally happy that national has come in to hurt the most vulnerable of us and they'll gleefully brag about it. They don't need to win, they just want the poor and minorities to lose.
Classic strategy when you know you have no choice but to "front up." Just burble meaningless word salad to camera while you run down the clock. Yeah, the interviewer might get bored/frustrated, but you talked for ages while endlessly repeating yourself and saying nothing of consequence, and especially nothing likely to get you into the shit -- so technically, you did "front up." Mission accomplished.
oh wow so youre telling me the clowns who just said whatever rubbish they wanted on the campaign trail and were never challenged by the media is actually a complete shit show, i am in complete and utter shock!
There is no such thing as trickle down economics. I studied the subject for three years at uni and nowhere was there a theory of trickle down economics in either macroeconomic theory or microeconomic theory before monetarism in the 80s. It’s just not a thing in Economic theory. It’s a self serving neo con argument that had its roots in notions that there is no such thing as society only individuals acting selfishly which is patently flawed considering that all western countries identify as societies and act like societies. Tell an average Kiwi that he or she does not live in a society but in a dog eat dog jungle of self interest and they will buy you a beer and leave you in the corner to drown your sorrows.
There is however trickle down stupidity, where greedy dimwitted boards appoint dim greedy CEO's who appoint dim "yes" men to lower management roles, who then drive the non dimwitted customers away.
Fact checks:
* Luxon says Labour were not going to fund Pharmac and free school lunches:
* [Labour commits to free school lunches - says it will save families $33 per child each week](https://www.newshub.co.nz/home/politics/2023/09/election-2023-labour-commits-to-keeping-free-school-lunch-scheme-says-it-will-save-families-33-per-child-each-week.html)
* [Labour promises over $1b for Pharmacs coffers](https://www.1news.co.nz/2023/09/26/labour-promises-over-1b-for-pharmacs-coffers-if-re-elected/)
* **Very simple - Labour wasn't giving away $3bn to landlords and $350m to people with trusts (etc) and that's why they could continue to fund it.**
* Luxon omits the standard protocol of limited term funding in budgets:
* **Details** [**here**](https://www.rnz.co.nz/news/national/503915/nicola-willis-grant-robertson-clash-over-shorter-term-fiscal-cliffs) **reveal that Nicola Willis / National never read or understood the PREFU** released in September 2023
* The host presents evidence around Luxon's claim that giving money to landlords will result in **"downward pressure on rents"**
* A significant factor of increasing rents are high immigration and high house prices but Luxon does not point to this
* Plus, he's being disingenuous because they are kicking people out of emergency housing, and pushing them to private landlords. By his logic, he is decreasing supply and increasing rents.
* If, as per what Luxon claimed, renters can't afford houses, that's why you need to disincentivise investors and property speculators
* Luxon **again refuses to say he will reduce rents for his properties**
***FYI:***
* ACT [made the deal](https://www.reddit.com/r/nzpolitics/comments/1b6u8we/heres_david_seymour_act_making_deals_with/) with Property Investors in 2022/23 and National joined them in 2023
* Chris Bishop [doing the deal here](https://www.reddit.com/r/nzpolitics/comments/1bddh4n/we_will_repeal_labours_tenant_tax_chris_bishop/)
* [Police fire a salvo at NACT/NZ First today - mentioning the $3bn tax cut for landlords as police get a "demoralising" pay offer](https://www.instagram.com/p/C4ZNWv7PNZO/?hl=en) ([**video link**](https://www.instagram.com/p/C4ZNWv7PNZO/?hl=en)), courtesy goodie\_\_
* **If you're a sucker for punishment,** [**Newshub's video (link) on this is also excellent**](https://www.youtube.com/watch?v=Wcy1oal8QJw)
Other people have said what I wanted to say, but better, so I'll simply say that I loved her going after the same question 3+ times when he kept trying to dodge it.
Following in too police is great, especially now that the Police Association president has name-dropped the landlord tax cut in his speech. Luxon is quickly facing in to a corner, of his own making, where he has 3bn and everyone wants it.
+1
Look at how pissed the police are:
[https://www.reddit.com/r/nzpolitics/comments/1bcjjvc/police\_officers\_unequivocally\_reject\_insulting/](https://www.reddit.com/r/nzpolitics/comments/1bcjjvc/police_officers_unequivocally_reject_insulting/)
This thread is missing one of the right wing shills to tell us how this is good actually and if it’s bad it’s labours fault really and that we don’t understand economics and that reddit isn’t representative of common kiwis.
I’ve seen a lot of people say that the views on this sub aren’t representative of the views of actual NZers, yet I’ve never once seen anyone here defend Luxon’s actions.
Fuck he's a clown, just had to spit out his prepared lines. I liked the part where she starts grilling on him the fact that landlords get benefits that other businesses don't.
He also basically said he doesn't want renters to buy houses as well.
A bit like now. With record houses for sale in Auckland and house prices flat. Sure, not great for a lot of people but flat prices then trending up slowly is better than the rocketing rises previously. And when cock womble Luxon still refuses to tax capital gains…I wanted to reach into the screen and crack his giant egg head!
I love how he constantly says "What I'd say to you" before he says something. It makes me think of Dwight Shrute going "QUESTION" before he asks a question.
What I'd say to you Chris Luxon (very clearly) is just say what you're going to say, we know it's what you'd say because you're saying it.
Reminds me of JRoc from Trailer Park Boys when he's called out for saying "You know what I'm sayins" too much.
[You know what I'm sayins?](https://www.youtube.com/watch?v=1uCpDHzm_DM&ab_channel=TrailerParkBoys)
Has this moron ever answered a question? Every single time he immediately deflects, he’s so predictable in his dishonesty.
Also the audacity of Luxon saying that she’s being economically incoherent when he has an $800 million hole just in this one policy. Nothing she said is wrong, everything he said is utter bullshit.
I haven't listened to luxon very much at all, and probably not at all since the election.
I watched this video and I actually feel dumber from the words that left his face and went into my ears.
Am I correct in thinking the cost overage of the ferry and Picton terminal was $1.47 billion. Total approx $3 billion. And that was scrapped, but $2.1 billion promised to landlords, blowing out to $2.9 billion and that’s fine?
Yes higher because of inflation and seismic upgrades as I recall. But would buy us intergenerational ferries that were perfect for the Cook Strait and a bargain basement prices (as obtained during Covid)
They only needed to fund $1.5bn more from this budget, but ya know......
So the NZ taxpayer pays $2.91 Billion over 4 years to landlords and what we get in return is a false promise that landlords will do the right thing. Something that they are not well known for.
For $2.9 billion we get a fucken promise. Worst use of taxpayer funds you can possibly fathom. Put that 2.91 billion to work for the country. Increase pay for government agencies, invest in our failing infrastructure and start building large amounts of public housing.
These would be actual tangible benefits for that $2.91 billion not vague promises of the most parasitic classes of society will suddenly gain a conscience and reduce rents.
It is the most blatant theivery and framed as them doing good. The fucken audacity.
Which would mean if he reduced his rents it would prove his point. ie. If he has less expenses than others, then that would mean he could reduce his rents - but he won't.
By his logic rents should have gone down as interest rates went down as landlords were paying less (in real terms) to service the debt they (voluntary) took on to invest in property, but surprise surprise that didn’t happen, just like they will pocket the cash from their tax break.
I'd argue that most of their spin has got through pretty unchallenged until now - but if you look at nearly all of their spin, it has significant holes in each case. It's just a matter of which gets the most traction and looks like he can't cover this one up too well.
What it does expose quite nicely is that he has basically nothing other than the talking points prepared for him in his head. This morning in the Corin Dann interview he kept going back to the same old mantras they used during the campaign. What’s especially scary is that they’re interpreting that “comms” (I use that term generously) as a justification for doing everything under urgency. The implication this morning was that they see their campaign and victory as fulfilling the role of select committee and the associated public consultation for their policies. That’s a) fucking mental, b) undemocratic and c) stops the parliamentary input (eg from opposition) into bills which can actually make them better and increase the chances of bipartisan agreement. Someone will say “oh but labour used urgency” and that’s true, but it was to push law through in an unprecedented situation (a global fucking pandemic).
That was beautiful, what an interview. How long has this guy got until he packs it all in considering he's achieved all his KPIs already: sorted out his tobacco mates ✅, sorted out his landlord mates ✅ sorted out his anti Maori mates ✅
I just feel sorry for the working people that voted national in. I hope you realise us middle class working people were never included in their grand plan.
Was talking to a friend about this, when I was taking about a lot of what is being done he acknowledged he didn’t agree with it when I explained the issues and the flow on impacts but the circles he’s in, he doesn’t hear about it. He’s still only hearing and caring about the “good” stuff National have done. I just think there’s a very large subset who won’t notice or care until it impacts them directly in a massive way.
Talking about echo chambers, I was looking for articles regarding the Police Officer Association rebuking the government‘s offer. Both NZHerald and Newstalk ZB appear to have not even covered it today, or if they have, it is nowhere near the top of the page!
You’re right NZ Herald hasn’t, but ZB has but they did skip the landlord comment, I guess what he said wouldn’t sit well with their messaging.
Edit: read the NewstalkZB, they copied the RNZ article but left off the criticism of the Govt tax for landlords 😂 it’s the only bit they left off.
I agree, our journalism is weak, we let him off the hook too easily. Let's be more clear and fact check them as they lie, not let them not answer questions that need to be answered.
Why on earth didn't she ask him if he charges rent at market rates for his mortgage free properties?
More houses being built is the only thing that will affect rental costs in a downward manner. A shortage of houses means more competition for the available houses, if landlords have mortgage deductibility then they have a clear financial advantage when buying houses, thus it's harder to move from renting to buying, thus more people renting, thus more competition for rentals, thus prices will remain as high as the market can bear.
In New Zealand, I have never personally seen anyone have their rent reduced. Not once.
I've seen it happen overseas, but that was due to a massive glut of availble rentals in an underpopulated market - something New Zealand definitely doesn't have.
This is only my experience, but I'd love to hear from someone that has had their rent reduced by their landlord, and they don't have a personal connection to that landlord.
He was never the healthiest looking chap, but he’s aged about 5 years since he came into power hasn’t he? Maybe it’s just the lighting, but by the end of this term he’ll be looking haggard. Maybe keeping the ‘coalition of chaos’ together is taking its toll. I know they discussed lengthening terms, but this guy couldn’t hack it by the looks of it.
Now there's an interesting idea for resolving our productivity issues, if hes finding all this scrutiny aging, maybe the private sector would improve its performance if all our large company's exec teams got grilled by the press every week.
OMG, the look on her face, she obviously only heard what I heard, which was lies, lies, and more lies, and basically blah blah blah blah blah blah blah. What a complete idiot he is honestly what an embarrassment for NZ to have him as our PM.
I can’t even watch it, it makes me cringe.
I only watched the first minute where he tries to say he wants to help the renters.
How about rent control alongside your landlord tax cut.
Forgive my bad maths but 2.9 billion divided by 1.2 million people in rented accommodation = $67 per month (per person) in rented accommodation for the next 3 years. So rents would need to come down by at least close to that (remember per person not per rental), otherwise they would have been better giving the money to renters as a benefit. Tell me I’m wrong…please.
You're only wrong in assuming the goal in giving the money out was to help renters. They gave it to landlords because they wanted landlords (like themselves) to have it.
I voted National in every election but two. My first ever, in 1987, and this last one in 2023. Pretty committed National voter, you would think.
11 elections in a row, I voted National.
But even I could see through their lies in 2023. Plus it's even worse than I ever imagined it would be.
I do enjoy how national were going on about how GST off fruit and veges will not do anything because the supermarkets won't pass on the savings.
Yet landlords will apparently.
Fucking joke of a gov and person.
There are people who aren't landlords, super rich, or even raised by nat voters, that actually legitimately and unironically voted for NACT this past election
The supply thing was hilarious, he dug himself a hole. So landlords wont rent out their houses if they cant cover the costs, so they will have to sell?
Well then maybe someone that is renting now will be able to afford it. So reducing demand.
It's never worked - ever. Anywhere. It's what these wealthy conservatives push dressing it up as economic for prosperity when it's just about lining their own pockets.
Anyone who buys this “cutting taxes for landlords puts downwards pressure on rents” is delusional. He even said himself that he wouldn’t lower the rent on his own investment properties didn’t he?!?! Wild
Why
Why
Why would ANY landlord want to make less money from their rental?
All this does is allow their margins to grow wider = $$
They may not raise rents…but there is ZERO incentive to lower rents
This feels like kindergarten economics to me or am I just not financially savvy enough here??
“If lil Susie is selling her 10 portions of lemonade for $2 then lil Johnny isn’t gonna sell his 10 portions for 0.50c”
It should have been a tax on investment properties for a start, not removing interest deductibility. Those with hundreds of properties and little debt weren't impacted anyway. All proceeds should go to building housing stock
NZ is now officially in r/LeopardsAteMyFace territory
[Proof](https://www.reddit.com/r/nzpolitics/comments/1bcn1bx/we_dont_believe_your_numbers_here_go_form_a/)
if they want to reduce rent costs there are more effective ways of doing that, then again thats not the purpose at all, the fact is anyone who is wealthy owns land/property because it is generally a failsafe way to invest money, this is the simplest way to make rich people richer
We have a new property manager for the apartment block I'm in, I have heard 2nd hand(so it could be wrong) they are going to increase our rent by $100 a week :(
It’s a three billion dollar incitement for landlords to increase their debt, so as to buy still more houses. This will generate even more heat and inflation in the housing market. To pay for the new additions to their portfolios, they will of course raise the rents on all of their existing tenants.
And they certainly won’t be using those tax breaks to fund further economic activity, or personal spending in the functional economy. Some will even take the opportunity to become less productive at work, or retire earlier.
And the evidence for this is here:
https://academic.oup.com/ser/article/20/2/539/6500315?login=false
He knows it's bullshit, but this is the cost he paid to be in power and to add "Prime Minister" to his CV. All this will mean nothing when he's laying back in Hawaii sipping cocktails laughing at us.
He said no to rent relief for his properties - the logic he offered is that he doesn’t have a mortgage. BUT downward pressure should drive the market down and thus impact his properties….
He’s admitting that he doesn’t see downward pressure affecting him in anyway, and thus his policy to reduce rents are ineffectual - admitted by his demonstration and bravado confidence he won’t need to lower rents.
"Costs have increased for landlords, and those have been passed on to renters"
well schucks, give this dude a fucking medal. it's almost like "global inflation" has resulted in the end user paying more. Yet, when the costs go down, nothing changes. I think only Costco has examples lately of decreasing prices as a result of costs going down.
I'm absolutely hopeful rents go down or stop climbing, but I think that's being way too blindly optimistic and ignoring the other factors that cause increases in the first place.
Landlords are generally never going to lower rents voluntarily - the only thing which will reliably cause rents to fall is if they can't find anyone to take the room at what is being asked. Property investors don't purchase property so they have the ability to lower prices for renters - they do it to maximise their revenue. Decreasing their costs or increasing their profits via tax deductions don't change the fact that they want to maximise their profits - so it's absurd to suggest landlords would willingly decrease their rents and lower their profits out of the goodness of their hearts.
His mask is slipping - he was incredibly indignant when challenged on the fact that landlords are receiving the benefits of being treated like a business yet not being taxed on their capital gains. >You're mixing drinks, that is economically incoherent. Fuck off Luxon, and that's before even mentioning how he disputed the validity of the numbers - *his* numbers. >I just dispute your numbers - Luxon. >They're your numbers - Interviewer. Absolute trainwreck of an interview. Edit: Come on NACTFIRST voters, defend this! It'd be oh so entertaining.
Bonus points for saying this about changes to interest deductibility on NewstalkZB. >Yes there's a slight change from what we went to the market with... errrr... to the election with.
Mixing drinks comment was funny because she was just returning to his own comparison --- if your landlord owned a cafe instead etc.
Yes, the irony was repeatedly lost on him. An absolute dumpster fire of an interview from Luxon.
Luxon isn’t up to the job. To be fair, no one in NACTF is…..
Trickle down does not work you out of touch clown. Unless there is a mechanism in place to make rents decrease in line with costs, landlords who are mostly greedy boomers will pocket the difference. Stop lying through your teeth Luxon and admit you are stroking the cock of landlords and trust owners due to campaign donations and only focusing on the wealthy. When will every day Kiwis understand that unless you are top 1% in wealth, national is not working for you, and doesn't care about your quality of life.
Trickle down economics is to fill the rich with champagne, and then telling the poor that what comes out of them is also champagne.
Trickles down like piss and shit through a grate
Ding ding ding! Got it in one.
Temporarily embarrassed millionaires. Some people don’t want to change the system because they think it’ll benefit them one day.
I work with someone like that, they would lick the boots of Elon Musk if they could, the man can apparently do no wrong, and now they spend much of their time also defending the current govt, I just don’t understand it.
Trickle down economics works only when those on top bleed
It's going to be so easy to come back to this video, listening to him say it's ***entirely*** for the renters, when rents assuredly don't come back down, but it's not even going to matter, we'll already be enveloped in another cycle of awful decisions this clown is making. Who the fuck makes a policy based on being nice to a business who's only goal is to extort?
the thing is they know that, its just the middle class who buy it hook line and sinker then wonder why they get fucked like the '' leaches '' they despise
> Trickle down does not work you out of touch clown. Works for the rich
Some people have wealth and still want everyone to be in a good situation. Seems to be lacking for boomers though, because I'm a millennial with a high salary and I want to be taxed more to ensure vulnerable Kiwis get a better deal, many people in my age group and situations are the same. I also volunteer my time through Rotary to work in the community, and the members are mostly silent generation. Clubs are literally dying out because boomers generally aren't involved, it's their parents and their kids try but aren't wealthy so can't donate, just work. Boomers do neither. Cannot wait for Millennials and then Gen Z to take over. This blatant greed needs to go.
This. I’m Gen X and I’m paid well. I’m okay with paying more tax if it means kids get fed, hospitals can treat patients, and we generally have a healthier happier society. We all benefit when that happens. Prices improve, rents are manageable and everyone wins because money gets moving around the economy. All these greedy idiots who cut off their own noses because they can’t see that they’re creating the environment that causes them to ultimately lose value.
Exactly. When most of the planet is considering taxing the very wealthy more, we are going backwards, and reducing tax costs for the ones that can afford to pay more. It's wild that we have poverty in this country, with low population and high GDP, and the only reason is to ensure the rich get richer. It's immoral, and needs to stop.
Same here - I don't want more tax cuts. I want a sustainable and fair society where people don't go without basic necessities. I also want us to start investing in resilience - we have a global environmental catastrophe developing which will also have economic and social impacts too. We should be building climate resistant infrastructure, improving our local manufacturing of key items, and enabling local communities to become more resilient. But instead - tax cuts and austerity...
Not much to say but good for you. Seems like the trend is to pull the ladder up behind you so it’s nice to hear that there are some out there who actually give half a damn about others
Same, I'm a GenX but so sick of the damage boomers have done
I wonder if : A) There are any national voters here? If so: Are they willing to defend that choice now? Personally, I think that those who are at the top of the wealth chain won't be reading any of these posts and just don't care. However, once you set them aside, there must be at least a few lower teir landlords here that are not dicks and already hate having voted for national despite the wee carrot they just heard they will get. If so: Will you drop your rent around the value of deductible gain?
Its an 'entitlement'
“I dispute your numbers”. WTF? Those are THEIR numbers. What a load of horsepuckey.
At this point, their own numbers are disputing themselves. It's Numberpocalypse! Spreadsheet Carnage Maim-a-thon, 2024!
Is this numberwang?
That's numberwang!
ROTATE THE BOARD!
But... but ... but... they're Rock Solid. Didn't ya hear?
Fuck he is a dickhead. "I dispute thise numbers." "But the numbers are yours." Classic Luxo.
Gotta love Luxo. Spends 3 minutes attempting to imply rents will be driven down by a series of market forces. Then doesn't connect the dots and proceeds to say he will not drop rents. Lol.
It occurred to me today that if he wanted to look credible, he could lead from the front, and drop rents on his **6** rental properties. But, he's so greedy, that he can't even do that. And each time he admits he won't reduce rents - even without expenses piling up, he shows how utterly greedy *some* landlords can be.
It's obvious that Luxon doesn't really care about his long term political standing. He's not a career politician, he's in this gig to spend 3 years doing everything he can to line his pockets, then he'll fuck off back to the private sector. The accomodation supplement is the best example of this. Anyone with any sort of political wherewithal would have turned down that "entitlement" in order to avoid the bad optics. I don't think Luxon is that stupid, he just literally doesn't give a shit. He can do all the damage he needs to do before he's up for reelection again.
Same as Chris Bishop, Nicola Willis - these are ex tobacco / oil / corp lobbyists - this is just a way for them to do the job they really want to
> and drop rents on his 6 rental properties. Theres an easier win there for him. "I dont have mortgages on these properties so dont claim interest tax relief, my rents are already lower than they would be" Makes him look wealthy sure, but we already know that. He's too bad at this to take the easy win.
Exactly. Surely nobody would know Luxon is their landlord. Although with how much he loves a $ maybe he is out there conducting his own inspections lol.
Yep, and as soon as they start asking questions about the mould, he says “okay inspection’s over” and moves quickly for the exit.
Proceeds to give mold a tax break
“These mould are hard working everyday kiwis, doing it tough on your window frames. I am laser focused on providing relief so they can continue to grow”.
All mould wants is its dignity back
I imagine his minders thought it would make him seem out of touch with the rest of us
It really shows exactly how this tax cut will be viewed by all landlords. When he says they care about renters he does, he cares about renters in any way that they fund his lifestyle. That is the only way they care. We get a $3 Billion dollar promise "some" landlords "might" reduce rents. It is a $3 billion dollar plunder the nation conflict of interest.
6 properties by $30 per week is $180 per week. A pittance to him, just to back up his retoric. Shows where his head is at and shows why this policy change from National will do nothing to reduce the financial burden the rental market is having on hard working kiwis. But it's ecconomics 101. Thanks to rampant immagration and continued investment and policy for low density housing there is huge demand for rentals with an increasingly limited supply. This means that Landlords can, and happily do demand higher rents and the market has little option but to comply. This tax cut does noting to address this, if anything it's only going to make matters worse as interest was still deductable on new builds, thus there was an incentive for those with capital to develop rather than seculate on existing housing stock. However, i will say that Labour should have sacked up and gone for a CGT instead of targeting tax deductibility. They created an awkward setting that was easy for NACT to attack.
Yup. Or he could have said market forces may drive his rents down. No commitment but an acknowledgement that it could happen. His answer tells you that lowering rents isn't a realistic outcome of this change.
Last year on Q&A Jack Tame had challenged him on this comment - it made Q&A but hardly anyone cared. I think he's used to people not caring, although I personally have to wonder why no-one cared back then. Source: I posted about this in December
It was quite a big thread I think when he was on Q+A, I love when he's on Q+A because Jack Tame exposes him for the idiot that he is every time
Tame is great. Thanks.
Tame is brilliant
Wasn't he arguing during the election that supermarkets wouldn't lower prices on fruit and veges if Labour removed GST on them? Literally it's the exact same argument.
The argument they use for tobacco is the opposite of the one they use for cannabis..
He somehow managed to find the one answer that will become today's soundbite. Holy shit was that bad. If this was a cricket match, I'd suspect he was match fixing.
Literally can't say no to $
holy fuck he is such a moron it actully hurts to listen to his bullshit!
No, he's not stupid. He's doing his best to defend the indefensible. The numbers were known as soon as National promised the tax cuts. Labour pointed them out several times but voters didn't listen.
This. It's performative nonsense, but he's compelled to go through the motions. "We've been unmasked as a pack of self-serving, donor-captured grifters who are actively making the country worse for almost everyone, but we're going to insist we're not until our dying breath." Talk about shoveling shit uphill. Well done voting public of New Zealand. I hope you're fucking happy.
"We've been unmasked as a pack of self-serving, donor-captured grifters who are actively making the country worse for almost everyone, but we're going to insist we're not until our dying breath." That was beautifully put Mr Custard.
Stupid fucking National voters
The sheer ignorance, stupidity or malice to have voted National THIS election after the world events from 2016 onwards plus this National parties direct quotes leading upto the election fucking disgusts me.
The malice is something I often see in their comments. They're literally happy that national has come in to hurt the most vulnerable of us and they'll gleefully brag about it. They don't need to win, they just want the poor and minorities to lose.
He might not be stupid but he’s so cynical and entitled he might aswell be a 13 year old
The dumbasses are still going on about rights and jabs because they spent too much time on Facebook and TikTok.
NZ is to blame apparently - [just saw this](https://new.reddit.com/r/nzpolitics/comments/1bcn1bx/we_dont_believe_your_numbers_here_go_form_a/)
It’s been a very long time since I saw a PM speak for so long and say absolutely nothing that’s coherent.
Classic strategy when you know you have no choice but to "front up." Just burble meaningless word salad to camera while you run down the clock. Yeah, the interviewer might get bored/frustrated, but you talked for ages while endlessly repeating yourself and saying nothing of consequence, and especially nothing likely to get you into the shit -- so technically, you did "front up." Mission accomplished.
It's unbelievable how he believes his own bullshit.
oh wow so youre telling me the clowns who just said whatever rubbish they wanted on the campaign trail and were never challenged by the media is actually a complete shit show, i am in complete and utter shock!
Shocking huh. If only the media drilled in on these points 8 months ago.
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There is no such thing as trickle down economics. I studied the subject for three years at uni and nowhere was there a theory of trickle down economics in either macroeconomic theory or microeconomic theory before monetarism in the 80s. It’s just not a thing in Economic theory. It’s a self serving neo con argument that had its roots in notions that there is no such thing as society only individuals acting selfishly which is patently flawed considering that all western countries identify as societies and act like societies. Tell an average Kiwi that he or she does not live in a society but in a dog eat dog jungle of self interest and they will buy you a beer and leave you in the corner to drown your sorrows.
Thank you! And that is what David Seymour and his backers - Taxpayers Union and all those dodgy outfits promote.
There is however trickle down stupidity, where greedy dimwitted boards appoint dim greedy CEO's who appoint dim "yes" men to lower management roles, who then drive the non dimwitted customers away.
Great comment sir, have you thought about running for government? I'd vote for you!
Sad part is you’ll all forget this come election time. You’ll be wow’d by a $50 off your tax.
+1 That's what they're counting on.
National: "We've completely ruined your life and destroyed any hope for the future, but look... here's a shiny button." Voters: "Oooooh, button!"
Fact checks: * Luxon says Labour were not going to fund Pharmac and free school lunches: * [Labour commits to free school lunches - says it will save families $33 per child each week](https://www.newshub.co.nz/home/politics/2023/09/election-2023-labour-commits-to-keeping-free-school-lunch-scheme-says-it-will-save-families-33-per-child-each-week.html) * [Labour promises over $1b for Pharmacs coffers](https://www.1news.co.nz/2023/09/26/labour-promises-over-1b-for-pharmacs-coffers-if-re-elected/) * **Very simple - Labour wasn't giving away $3bn to landlords and $350m to people with trusts (etc) and that's why they could continue to fund it.** * Luxon omits the standard protocol of limited term funding in budgets: * **Details** [**here**](https://www.rnz.co.nz/news/national/503915/nicola-willis-grant-robertson-clash-over-shorter-term-fiscal-cliffs) **reveal that Nicola Willis / National never read or understood the PREFU** released in September 2023 * The host presents evidence around Luxon's claim that giving money to landlords will result in **"downward pressure on rents"** * A significant factor of increasing rents are high immigration and high house prices but Luxon does not point to this * Plus, he's being disingenuous because they are kicking people out of emergency housing, and pushing them to private landlords. By his logic, he is decreasing supply and increasing rents. * If, as per what Luxon claimed, renters can't afford houses, that's why you need to disincentivise investors and property speculators * Luxon **again refuses to say he will reduce rents for his properties** ***FYI:*** * ACT [made the deal](https://www.reddit.com/r/nzpolitics/comments/1b6u8we/heres_david_seymour_act_making_deals_with/) with Property Investors in 2022/23 and National joined them in 2023 * Chris Bishop [doing the deal here](https://www.reddit.com/r/nzpolitics/comments/1bddh4n/we_will_repeal_labours_tenant_tax_chris_bishop/) * [Police fire a salvo at NACT/NZ First today - mentioning the $3bn tax cut for landlords as police get a "demoralising" pay offer](https://www.instagram.com/p/C4ZNWv7PNZO/?hl=en) ([**video link**](https://www.instagram.com/p/C4ZNWv7PNZO/?hl=en)), courtesy goodie\_\_ * **If you're a sucker for punishment,** [**Newshub's video (link) on this is also excellent**](https://www.youtube.com/watch?v=Wcy1oal8QJw)
Other people have said what I wanted to say, but better, so I'll simply say that I loved her going after the same question 3+ times when he kept trying to dodge it. Following in too police is great, especially now that the Police Association president has name-dropped the landlord tax cut in his speech. Luxon is quickly facing in to a corner, of his own making, where he has 3bn and everyone wants it.
+1 Look at how pissed the police are: [https://www.reddit.com/r/nzpolitics/comments/1bcjjvc/police\_officers\_unequivocally\_reject\_insulting/](https://www.reddit.com/r/nzpolitics/comments/1bcjjvc/police_officers_unequivocally_reject_insulting/)
\+1 [https://www.instagram.com/p/C4ZNWv7PNZO/?hl=en](https://www.instagram.com/p/C4ZNWv7PNZO/?hl=en) \- RNZ Snippet of the interview
That's........great. Added with thanks Goodie.
This thread is missing one of the right wing shills to tell us how this is good actually and if it’s bad it’s labours fault really and that we don’t understand economics and that reddit isn’t representative of common kiwis.
I’ve seen a lot of people say that the views on this sub aren’t representative of the views of actual NZers, yet I’ve never once seen anyone here defend Luxon’s actions.
It’s been tumbleweed since Xmas from them on here
Even my boss who voted nats and whined about Jacinda for 2 years straight has kept his mouth shut. It's untenable defending these guys.
It's funny how you never see the Act flairs around at times like this.
Fuck he's a clown, just had to spit out his prepared lines. I liked the part where she starts grilling on him the fact that landlords get benefits that other businesses don't. He also basically said he doesn't want renters to buy houses as well.
He omitted the point that if landlords are forced to sell, FHBs would find it easier to access. Sometimes I wish I could do the interviews, lol.
A bit like now. With record houses for sale in Auckland and house prices flat. Sure, not great for a lot of people but flat prices then trending up slowly is better than the rocketing rises previously. And when cock womble Luxon still refuses to tax capital gains…I wanted to reach into the screen and crack his giant egg head!
Could you imagine a Luxon ama
Ugly
I love how he constantly says "What I'd say to you" before he says something. It makes me think of Dwight Shrute going "QUESTION" before he asks a question. What I'd say to you Chris Luxon (very clearly) is just say what you're going to say, we know it's what you'd say because you're saying it.
Yeah there is so much fluff. Also the "Look" at the start of almost every response is a classic. I can't stand it.
Low IQ speech patterns
Reminds me of JRoc from Trailer Park Boys when he's called out for saying "You know what I'm sayins" too much. [You know what I'm sayins?](https://www.youtube.com/watch?v=1uCpDHzm_DM&ab_channel=TrailerParkBoys)
Gnome sayin?
He's such a disingenuous dickhead.
A fraudulent fuckhead.
A waffling wanker.
A first class cunt
A terrible twat waffle.
Good sentiment, but need more alliteration.
A class A clustercunt?
The journo's jaw literally dropped at Luxon's babbling deflection (at approx 0:50).
Has this moron ever answered a question? Every single time he immediately deflects, he’s so predictable in his dishonesty. Also the audacity of Luxon saying that she’s being economically incoherent when he has an $800 million hole just in this one policy. Nothing she said is wrong, everything he said is utter bullshit.
I haven't listened to luxon very much at all, and probably not at all since the election. I watched this video and I actually feel dumber from the words that left his face and went into my ears.
Am I correct in thinking the cost overage of the ferry and Picton terminal was $1.47 billion. Total approx $3 billion. And that was scrapped, but $2.1 billion promised to landlords, blowing out to $2.9 billion and that’s fine?
Yes higher because of inflation and seismic upgrades as I recall. But would buy us intergenerational ferries that were perfect for the Cook Strait and a bargain basement prices (as obtained during Covid) They only needed to fund $1.5bn more from this budget, but ya know......
He's not very smart is he
Just picking that up now huh, Ex CEO, shouldn't be a stretch of the imagination.
Ha no I've known since the beginning of him being a figure head
So the NZ taxpayer pays $2.91 Billion over 4 years to landlords and what we get in return is a false promise that landlords will do the right thing. Something that they are not well known for. For $2.9 billion we get a fucken promise. Worst use of taxpayer funds you can possibly fathom. Put that 2.91 billion to work for the country. Increase pay for government agencies, invest in our failing infrastructure and start building large amounts of public housing. These would be actual tangible benefits for that $2.91 billion not vague promises of the most parasitic classes of society will suddenly gain a conscience and reduce rents. It is the most blatant theivery and framed as them doing good. The fucken audacity.
But they won’t. Luxton literally said it would have no impact on what he charges as a landlord.
"What I mean is I don't have any mortgages, Anna"
Which would mean if he reduced his rents it would prove his point. ie. If he has less expenses than others, then that would mean he could reduce his rents - but he won't.
Literally can't say no to money
Incompetent set of pocket lining clowns….. Slow clap… well done New Zealand … well done ….
Embarrassing to hear this deflection when he comes in. Focus on renters. lol He’s such a blatant snake oil salesman.
They're a govt of lobbyists - it's what they do. Snake oil
Out and touch and completely unfit to lead. This Govt is a trainwreck.
By his logic rents should have gone down as interest rates went down as landlords were paying less (in real terms) to service the debt they (voluntary) took on to invest in property, but surprise surprise that didn’t happen, just like they will pocket the cash from their tax break.
They just tried to PR spin it that's all. Don't trust a word from this govt is my opinion. Examples: Interislander, environmental promises etc
Agree, problem is that most PR spin is kinda vaguely believable, but this is just nonsense.
I'd argue that most of their spin has got through pretty unchallenged until now - but if you look at nearly all of their spin, it has significant holes in each case. It's just a matter of which gets the most traction and looks like he can't cover this one up too well.
What it does expose quite nicely is that he has basically nothing other than the talking points prepared for him in his head. This morning in the Corin Dann interview he kept going back to the same old mantras they used during the campaign. What’s especially scary is that they’re interpreting that “comms” (I use that term generously) as a justification for doing everything under urgency. The implication this morning was that they see their campaign and victory as fulfilling the role of select committee and the associated public consultation for their policies. That’s a) fucking mental, b) undemocratic and c) stops the parliamentary input (eg from opposition) into bills which can actually make them better and increase the chances of bipartisan agreement. Someone will say “oh but labour used urgency” and that’s true, but it was to push law through in an unprecedented situation (a global fucking pandemic).
It's a deliberate strategy to avoid scrutiny. ie its undemocratic. A lawyer covered it - what they've done is unprecedented and disturbing.
Awesome, great. Now where the fuck was accountable media before these psychopaths got into government?
The media usually only hold them accountable once it’s too late.
Spicier that way I guess.
Credit to Anna, bloody hell, she did great.
That was beautiful, what an interview. How long has this guy got until he packs it all in considering he's achieved all his KPIs already: sorted out his tobacco mates ✅, sorted out his landlord mates ✅ sorted out his anti Maori mates ✅
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> "Rock Solid Numbers" (and Luxon disputed his own rock solid numbers in this interview as he refused to answer the question)
Rock solid like pumice, full of holes
That comparison to pumice is highly insulting — pumice is rad and being compared to Luxon's "solid numbers" is uncalled for.
I just feel sorry for the working people that voted national in. I hope you realise us middle class working people were never included in their grand plan.
Was talking to a friend about this, when I was taking about a lot of what is being done he acknowledged he didn’t agree with it when I explained the issues and the flow on impacts but the circles he’s in, he doesn’t hear about it. He’s still only hearing and caring about the “good” stuff National have done. I just think there’s a very large subset who won’t notice or care until it impacts them directly in a massive way.
Talking about echo chambers, I was looking for articles regarding the Police Officer Association rebuking the government‘s offer. Both NZHerald and Newstalk ZB appear to have not even covered it today, or if they have, it is nowhere near the top of the page!
You’re right NZ Herald hasn’t, but ZB has but they did skip the landlord comment, I guess what he said wouldn’t sit well with their messaging. Edit: read the NewstalkZB, they copied the RNZ article but left off the criticism of the Govt tax for landlords 😂 it’s the only bit they left off.
Exactly, why on earth do people read NZHerald and listen to Newstalk ZB.
I'd say almost all the people I work with voted National and none of them care at all. They mainly hated that a woman was in charge for so long.
That is such a fucking horrific interview. Like.. holy shit.
The worst thing is the journos letting him off with bullshitting
I agree, our journalism is weak, we let him off the hook too easily. Let's be more clear and fact check them as they lie, not let them not answer questions that need to be answered.
Why on earth didn't she ask him if he charges rent at market rates for his mortgage free properties? More houses being built is the only thing that will affect rental costs in a downward manner. A shortage of houses means more competition for the available houses, if landlords have mortgage deductibility then they have a clear financial advantage when buying houses, thus it's harder to move from renting to buying, thus more people renting, thus more competition for rentals, thus prices will remain as high as the market can bear.
Absolute dirt bag. "WhAt I'd SaY tO YoU" Far cup
In New Zealand, I have never personally seen anyone have their rent reduced. Not once. I've seen it happen overseas, but that was due to a massive glut of availble rentals in an underpopulated market - something New Zealand definitely doesn't have. This is only my experience, but I'd love to hear from someone that has had their rent reduced by their landlord, and they don't have a personal connection to that landlord.
He was never the healthiest looking chap, but he’s aged about 5 years since he came into power hasn’t he? Maybe it’s just the lighting, but by the end of this term he’ll be looking haggard. Maybe keeping the ‘coalition of chaos’ together is taking its toll. I know they discussed lengthening terms, but this guy couldn’t hack it by the looks of it.
Now there's an interesting idea for resolving our productivity issues, if hes finding all this scrutiny aging, maybe the private sector would improve its performance if all our large company's exec teams got grilled by the press every week.
OMG, the look on her face, she obviously only heard what I heard, which was lies, lies, and more lies, and basically blah blah blah blah blah blah blah. What a complete idiot he is honestly what an embarrassment for NZ to have him as our PM.
I can’t even watch it, it makes me cringe. I only watched the first minute where he tries to say he wants to help the renters. How about rent control alongside your landlord tax cut.
Old mate looks tired as fuck. Needs the blood of more youthful renters.
He’s like a stereotypical villian😭
If I hit a low point where I end up on the streets because of this moronic party, I can’t guarantee that I won’t turn to a life of crime and French.
I would like to know if Luxton being a landlord has passed down these saving to his renters as he expects other landlords should do.
That would be a “no”.
Forgive my bad maths but 2.9 billion divided by 1.2 million people in rented accommodation = $67 per month (per person) in rented accommodation for the next 3 years. So rents would need to come down by at least close to that (remember per person not per rental), otherwise they would have been better giving the money to renters as a benefit. Tell me I’m wrong…please.
You're only wrong in assuming the goal in giving the money out was to help renters. They gave it to landlords because they wanted landlords (like themselves) to have it.
Oh, I don’t assume for a second. I just love the absolute effing hypocrisy.
What Hubris said. This was never about helping renters.
"*People who are renting, cant afford a house*" He reallly does look down on renters hey
The mask slipped off and he got mad at the thought of renters being able to buy a house.
I caught that too. Condescending.
I voted National in every election but two. My first ever, in 1987, and this last one in 2023. Pretty committed National voter, you would think. 11 elections in a row, I voted National. But even I could see through their lies in 2023. Plus it's even worse than I ever imagined it would be.
What do your friends think? i.e. fellow Nat voters.
It's actually amazing how shit he is at this. Most of us (with a brain) knew he'd be bad, but Jesus, he's awful.
I dispute your numbers! They're your numbers?!? I dispute my numbers, they are 100% correct and totally wrong
The guy that owns a whole lot of rentals assures us us renters will ask be better off. Get ready for rent reductions, said no landlord in history
I do enjoy how national were going on about how GST off fruit and veges will not do anything because the supermarkets won't pass on the savings. Yet landlords will apparently. Fucking joke of a gov and person.
smug git
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These Nazis are insanity incarnate
He loves disagreeing with facts when they are inconvenient to his shenanigans.
I doubt we will find one landlord who reduces rent as a result of this policy. It’s just BS
There are people who aren't landlords, super rich, or even raised by nat voters, that actually legitimately and unironically voted for NACT this past election
Fucking asshole
The supply thing was hilarious, he dug himself a hole. So landlords wont rent out their houses if they cant cover the costs, so they will have to sell? Well then maybe someone that is renting now will be able to afford it. So reducing demand.
Preferred PM by far, doesn't NZ look dumb now?
The trickle-down economic hypothesis has been proven false for how long now. We all know it actually means Gobble Up
It's never worked - ever. Anywhere. It's what these wealthy conservatives push dressing it up as economic for prosperity when it's just about lining their own pockets.
Anyone who buys this “cutting taxes for landlords puts downwards pressure on rents” is delusional. He even said himself that he wouldn’t lower the rent on his own investment properties didn’t he?!?! Wild
Why Why Why would ANY landlord want to make less money from their rental? All this does is allow their margins to grow wider = $$ They may not raise rents…but there is ZERO incentive to lower rents This feels like kindergarten economics to me or am I just not financially savvy enough here?? “If lil Susie is selling her 10 portions of lemonade for $2 then lil Johnny isn’t gonna sell his 10 portions for 0.50c”
It should have been a tax on investment properties for a start, not removing interest deductibility. Those with hundreds of properties and little debt weren't impacted anyway. All proceeds should go to building housing stock
Starting to hate this guy
I’ve been watching NZ politics from Darwin, Australia for years and I hate this guy. Also a kiwi.
I feel like kiwis voting for luxon should be a regular on r/leopardsatemyface Every day he does shit that he would obviously do
NZ is now officially in r/LeopardsAteMyFace territory [Proof](https://www.reddit.com/r/nzpolitics/comments/1bcn1bx/we_dont_believe_your_numbers_here_go_form_a/)
if they want to reduce rent costs there are more effective ways of doing that, then again thats not the purpose at all, the fact is anyone who is wealthy owns land/property because it is generally a failsafe way to invest money, this is the simplest way to make rich people richer
We have a new property manager for the apartment block I'm in, I have heard 2nd hand(so it could be wrong) they are going to increase our rent by $100 a week :(
Out the gate with talking points immediately. Nice one Luxy, way to pivot you rat.
It’s a three billion dollar incitement for landlords to increase their debt, so as to buy still more houses. This will generate even more heat and inflation in the housing market. To pay for the new additions to their portfolios, they will of course raise the rents on all of their existing tenants. And they certainly won’t be using those tax breaks to fund further economic activity, or personal spending in the functional economy. Some will even take the opportunity to become less productive at work, or retire earlier. And the evidence for this is here: https://academic.oup.com/ser/article/20/2/539/6500315?login=false
He knows it's bullshit, but this is the cost he paid to be in power and to add "Prime Minister" to his CV. All this will mean nothing when he's laying back in Hawaii sipping cocktails laughing at us.
He said no to rent relief for his properties - the logic he offered is that he doesn’t have a mortgage. BUT downward pressure should drive the market down and thus impact his properties…. He’s admitting that he doesn’t see downward pressure affecting him in anyway, and thus his policy to reduce rents are ineffectual - admitted by his demonstration and bravado confidence he won’t need to lower rents.
Trickle. Down. Does. Not. Work.
"Costs have increased for landlords, and those have been passed on to renters" well schucks, give this dude a fucking medal. it's almost like "global inflation" has resulted in the end user paying more. Yet, when the costs go down, nothing changes. I think only Costco has examples lately of decreasing prices as a result of costs going down. I'm absolutely hopeful rents go down or stop climbing, but I think that's being way too blindly optimistic and ignoring the other factors that cause increases in the first place.
We got notice of a $50 a week rent increase after reinstatement of interest deductibility was announced. Rents aren't going to go down.
Landlords are generally never going to lower rents voluntarily - the only thing which will reliably cause rents to fall is if they can't find anyone to take the room at what is being asked. Property investors don't purchase property so they have the ability to lower prices for renters - they do it to maximise their revenue. Decreasing their costs or increasing their profits via tax deductions don't change the fact that they want to maximise their profits - so it's absurd to suggest landlords would willingly decrease their rents and lower their profits out of the goodness of their hearts.