Hosking on Kiwiflop

Mike Hosking writes:

The Housing Minister can be grateful that his Immigration counterpart is currently immersed in the Government’s biggest shambles.

Because if it wasn’t for Iain Lees-Galloway, and his nightmare of the Karel Sroubek decision, then Phil Twyford would be front and centre and getting a great deal more attention than he is over what is increasingly looking like one of this Government’s potentially most damaging policies.

Here are some numbers I doubt many of us were aware of: there are only 338 qualified buyers so far. That’s it.

You would have heard of the thousands that applied, of course. The Government wanted you to hear that. The thousands that signed up for the updates, the thousands that showed an interest. But an interest isn’t a deposit, it isn’t a deal, and it certainly isn’t a sale.

That number is 338, and ballots have had to be extended because of lack of interest.

And why? Well, because as we have also told you, and these past two weeks have revealed it, KiwiBuild is not the scheme it was portrayed as, it is not for the low waged, the locked out, it is not the social housing programme it was painted.

It’s for the middle-class, six-figure salary earners, graduate doctors, the marketing executives – and once Treasury did the numbers the scam was exposed.

Only a third of people could ever possibly afford the $650,000 price tag for a three or four-bedroom home.

Of course lots of people wanted a house, but you need well in excess of $100,000 of income to pay for it, and there are not many of those people out there.

Once upon a time Labour stood for those who most needed help. Now they stand for those who are well off and win the lottery.