Mana News editor Joe Trinder

The National governments capital gains tax that they claim is not a capital gains tax is too late and to weak. This poor attempt to suppress the housing crisis with a Neo-Liberal approach has foreign property investors who can’t vote for the National party hold onto their investment property for no less than two years.

On average Property speculators need to keep their investment property for no less than two years to dramatically increase the value of their property by millions. Selling the property early is a loss so this initiative will have little effect on the housing crisis . This also does nothing for Kiwi first home buyers and continues to protect the interests of foreign property speculators.

The housing crisis is going to be John Key’s legacy he will go down in history as the Prime minister that overvalued the New Zealand real estate market. House prices since the start of 2000 – the biggest increase in the OECD.