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Speaker 1: If the mistake was made during the coalition talks by National,

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Speaker 1: it was acquiescing to the New Zealand first demand that

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Speaker 1: they keep people from offshore buying houses here. So National

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Speaker 1: had it seemed to me anyway an elegant solution. Anything

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Speaker 1: under a couple of million dollars was out of bounds.

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Speaker 1: That left the market open to New Zealand does and

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Speaker 1: of course first time buyers most importantly began to town

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Speaker 1: the three, four, seven, eight, nine, ten million dollar houses.

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Speaker 1: That's for the world, that's to the open market. Not

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Speaker 1: only was that a mistake because New Zealand FIRS mixt

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Speaker 1: it for no real gain. As far as it can

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Speaker 1: work out, it comes, as I thought, somewhat ironic that

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Speaker 1: the Prime Minister quite rightly is working as hard as

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Speaker 1: any prime minister I have seen, running up hundreds of

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Speaker 1: thousands of kilometers around the raither the world to goes

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Speaker 1: spooking our openness, when in fact we are not quite

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Speaker 1: as open as we could be. So here's a couple

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Speaker 1: of simple truths. We need the world and badly. We

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Speaker 1: need its investment, its brain power, its heft and labor.

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Speaker 1: We need its ideas. We need the growth that all

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Speaker 1: of that brings, and it appears at the moment we're

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Speaker 1: watching New Zealanders leave while Indians and Filipinos arrive. Making

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Speaker 1: coming here, setting up shop here would be easier if

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Speaker 1: you could feel welcome and have a chance to get

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Speaker 1: a piece of the action. As far as offshore is concerned,

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Speaker 1: to what we deem offshore, it is limited to Australian,

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Speaker 1: Singaporeans and expats. The rest of the world is locked out.

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Speaker 1: You can't do it. So as a result, the top

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Speaker 1: end of the housing market is as flat as a

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Speaker 1: pancake read the piece in one roof. At the moment,

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Speaker 1: very instructive top and agents are saying, look, we need

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Speaker 1: a rethink. There's money being left on the table here.

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Speaker 1: This is a mistake. And yes they've got a self interest.

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Speaker 1: Of course they got a self interest, But the rest

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Speaker 1: of us don't. Most of us really just want what's

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Speaker 1: best for the country and locking people out isn't smart business.

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Speaker 1: On the street around the corner from where we live,

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Speaker 1: I can show you four houses right now for sale

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Speaker 1: in excess of twenty million dollars each. Are they not selling,

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Speaker 1: nor most likely will they because those aren't the houses

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Speaker 1: we generally bite. They are houses for the Americans and

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Speaker 1: Europeans and Chinese, where fifty pe buys your New Zealand dollar.

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Speaker 1: Where billionaires aren't as rare as they are here, whether

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Speaker 1: it's tourism or startup money, or IPOs, our share market,

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Speaker 1: our housing market, or immigration. This country, I'm sad to say,

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Speaker 1: has lost its fizz. It's competing in a world of

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Speaker 1: countries where the bright and the brilliant are in big, big,

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Speaker 1: big demand. We cannot afford to hobble ourselves. And here

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Speaker 1: is the simple truth about all of those people, most

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Speaker 1: of them. Or to house For more from the Mic

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Speaker 1: Asking Breakfast. Listen live to News Talks at B from

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Speaker 1: six am weekdays, or follow the podcast on iHeartRadio.