Comments by "Matthew Nirenberg" (@matthewnirenberg) on "New Zealand House Prices Predicted to CRASH in 2022" video.

Good, the housing markets in both New Zealand and Australia need to crash so that the prices become what they really should be again. The government encourages foreigners to buy property - the catch is they must be rich. So along comes the auction, locals bid reasonable prices, then comes a representative of the foreigner who instantly bid $300,000 more, the property sells to the foreigner. This happens a few times and a house worth $280,000 in reality suddenly is listed for $1.2 million. No locals can buy a house. If you build more, the problem gets worse as prices skyrocket as more foreigners buy the houses. These houses usually sit empty or get filled with foreign workers as if a business has space for "skilled workers" to board, they can apply for more "skilled worker" visas. Companies always prioritise foreign workers as they know they can exploit them as they don't know their rights. The govt don't care as the things considered skilled work literally include "tractor driver", "animal carer - chickens", "livestock feeder", just to name a few. I personally know plenty of locals in both Australia and New Zealand who've be screwed by this garbage scheme that the governments want. It comes down to one thing - the governments want all the taxes from the foreign money they get from letting foreigners buy up everything and the "skilled workers" take all the jobs, rotating in and out due to the short length of the "skilled worker" visas.
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That would just make the problem worse. Its the same thing in Australia. The government encourages foreigners to buy property - the catch is they must be rich. So along comes the auction, locals bid reasonable prices, then comes a representative of the foreigner who instantly bid $300,000 more, the property sells to the foreigner. This happens a few times and a house worth $280,000 in reality suddenly is listed for $1.2 million. No locals can buy a house. If you build more, the problem gets worse as prices skyrocket as more foreigners buy the houses. These houses usually sit empty or get filled with foreign workers as if a business has space for "skilled workers" to board, they can apply for more "skilled worker" visas. Companies always prioritise foreign workers as they know they can exploit them as they don't know their rights. The govt don't care as the things considered skilled work literally include "tractor driver", "animal carer - chickens", "livestock feeder", just to name a few. I personally know plenty of locals in both Australia and New Zealand who've be screwed by this garbage scheme that the governments want. It comes down to one thing - the governments want all the taxes from the foreign money they get from letting foreigners buy up everything and the "skilled workers" take all the jobs, rotating in and out due to the short length of the "skilled worker" visas.
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@mikey10006 that New Zealand study was a sham as it was only performed to confirm what the NZ govt wanted to confirm. When more houses are built the area is suddenly a "growth area" and prices continue to grow which further makes them more unaffordable. That is the on the ground reality in both Australia and New Zealand.
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@mikey10006 it's got nothing to do with science or conspiracy theories, it's a fact that is observable in both Australia and New Zealand. Foreign investors don't come here so visas mean nothing. Foreign investors are mega rich and corporations. New builds cause the area to become a "growth area" which pushes prices up even more. Traditional supply and demand don't apply due to human factors such as marketing as "growth areas" and govt interests to keep prices as high as possible to get more taxes. Until property purchases are limited to locals first, the prices won't drop. It is a fact that the govt want as high prices as they can get as they get more in taxes that way. The problem is you have this naive thinking that everyone in research is honest when the reality is they prove what the funding source wants.
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@edgeprobability because that's literally what happens. They build more and more foreign investors buy them as when supply increases the price increases continue. As the prices keep increasing with each new build as each is pushing area values up as a "growth area", only foreign investors can afford to buy at such ever increasing prices. I know first hand that there is no issue with getting building permits in Australia and New Zealand.
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