Borrowing limits and new taxes proposed to lower house prices

Author
Newstalk ZB,
Publish Date
Fri, 14 Feb 2020, 10:19AM
Photo / File

Borrowing limits and new taxes proposed to lower house prices

Author
Newstalk ZB,
Publish Date
Fri, 14 Feb 2020, 10:19AM

A call to introduce a capital gains tax and limit how much money wealthy people can borrow has been labelled 'nonsense'.

The latest Helen Clark Foundation report recommended the new restrictions, in a move to drive down house prices.

It states the decades-long property investment boom has created windfall gains for property owners, the real estate sector and banks at the expense of people's basic need for shelter.

But One Roof Property Commentator Ashley Church told Mike Hosking hitting the people you envy the most to fix the market  that won't work.

"It's a simplistic, leftist idea that says all you need to do is hit the people you ency the most, and it will somehow fix the market."

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