1 00:00:00,080 --> 00:00:01,880 Speaker 1: Tell you what I found interesting in the last few 2 00:00:01,960 --> 00:00:04,080 Speaker 1: days is the enormous surprise at the start now the 3 00:00:04,160 --> 00:00:06,680 Speaker 1: debate about Chris Bishop saying it's a good thing that 4 00:00:06,760 --> 00:00:08,800 Speaker 1: house prices are falling. He was asked about this on 5 00:00:08,880 --> 00:00:11,959 Speaker 1: Friday and he said, yes, it's a good thing. We 6 00:00:12,080 --> 00:00:14,360 Speaker 1: have got to decouple the idea that the New Zealand 7 00:00:14,400 --> 00:00:18,680 Speaker 1: economy is driven by house prices its artificial wealth. The 8 00:00:18,720 --> 00:00:22,479 Speaker 1: immediate response to that was shock that anyone could say it, 9 00:00:22,520 --> 00:00:26,200 Speaker 1: but especially a National Party minister. And now three days 10 00:00:26,280 --> 00:00:30,080 Speaker 1: later there are still newspaper pieces expressing surprise that he's 11 00:00:30,120 --> 00:00:33,839 Speaker 1: got away with it. And in contrast, for example Matelia 12 00:00:33,920 --> 00:00:36,120 Speaker 1: Tude who didn't got smacked down for it, and just 13 00:00:36,200 --> 00:00:38,560 Speaker 1: and Ardo and who wouldn't go there, And what's more, 14 00:00:38,880 --> 00:00:41,720 Speaker 1: the surprises that the Prime Minister has now apparently contradicted 15 00:00:41,760 --> 00:00:43,479 Speaker 1: him and said no, he does want some modest and 16 00:00:43,520 --> 00:00:47,199 Speaker 1: consistent house price rises. Look, Christmaship has got away with 17 00:00:47,280 --> 00:00:49,919 Speaker 1: it because he's right. It is actually a good thing 18 00:00:49,960 --> 00:00:52,440 Speaker 1: that house prices have come back. It sucks, it sucks 19 00:00:52,520 --> 00:00:54,680 Speaker 1: right now, quite badly, doesn't it, Because none of us 20 00:00:54,720 --> 00:00:57,520 Speaker 1: feel wealthy as our house prices drop away, and it 21 00:00:57,560 --> 00:01:00,240 Speaker 1: is definitely prolonging the recession because we're not spending like 22 00:01:00,320 --> 00:01:02,640 Speaker 1: we normally would when our house price values increase, which 23 00:01:02,640 --> 00:01:05,200 Speaker 1: make us feel wealthy. But it is the short term 24 00:01:05,200 --> 00:01:08,600 Speaker 1: medicine that this economy needs for improvement. Because we cannot 25 00:01:08,680 --> 00:01:11,440 Speaker 1: keep plowing our money into property. We should be putting 26 00:01:11,480 --> 00:01:14,360 Speaker 1: it into productive investments, like, for example, buying shares and 27 00:01:14,440 --> 00:01:17,440 Speaker 1: picks or whatever. Now I know people who are actually 28 00:01:17,480 --> 00:01:19,440 Speaker 1: changing their behavior because of what is going on with 29 00:01:19,480 --> 00:01:22,559 Speaker 1: house prices. I know a woman early forties thought about 30 00:01:22,560 --> 00:01:25,000 Speaker 1: buying an investment property but didn't. We'll put her money 31 00:01:25,000 --> 00:01:27,720 Speaker 1: into shares instead, because it's much of a muchness. Now. 32 00:01:28,080 --> 00:01:30,240 Speaker 1: To answer the question of why Chris Bishop can get 33 00:01:30,280 --> 00:01:32,800 Speaker 1: away with it when Matzedia two day got punished for 34 00:01:32,840 --> 00:01:34,880 Speaker 1: it and when Jasinda Ardurn wouldn't even go there for 35 00:01:34,920 --> 00:01:38,280 Speaker 1: fear of public backlash, is because it is already happening. 36 00:01:38,760 --> 00:01:40,920 Speaker 1: He's not threatening to do it to us like those 37 00:01:40,959 --> 00:01:43,720 Speaker 1: two birds might have. It is already happening to us. 38 00:01:43,520 --> 00:01:45,600 Speaker 1: He's actually said it before, by the way, so he 39 00:01:45,680 --> 00:01:49,080 Speaker 1: is consistent, and maybe, just maybe enough of us have 40 00:01:49,120 --> 00:01:51,160 Speaker 1: already realized that this is the pain we have to 41 00:01:51,160 --> 00:01:53,240 Speaker 1: go through. As much as we hate it right now 42 00:01:53,440 --> 00:01:56,000 Speaker 1: for the sake of future generations. And also, by the way, 43 00:01:56,400 --> 00:01:58,440 Speaker 1: I like the fact that he said something that he 44 00:01:58,480 --> 00:02:01,360 Speaker 1: truly believes in, rather than saying something that he might 45 00:02:01,360 --> 00:02:03,960 Speaker 1: have thought. We all want to hear for more from 46 00:02:04,040 --> 00:02:07,280 Speaker 1: Hither Duplessy Allen Drive. Listen live to news talks it'd 47 00:02:07,320 --> 00:02:11,440 Speaker 1: B from four pm weekdays, or follow the podcast on iHeartRadio.