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Speaker 1: One Roof had a story over the weekend about an

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Speaker 1: apartment in Auckland that is for sale for seventeen million dollars.

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Speaker 1: It was for sale for sixteen million dollars, so they

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Speaker 1: put the price up despite the fact that it's been

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Speaker 1: for sale for several years. Now. They're looking to the

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Speaker 1: international market, where seventeen million is not a lot of money.

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Speaker 1: The article also featured information about a night franc international

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Speaker 1: wealth report that ranked the priorities of those with money

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Speaker 1: and real estate. It turns out real estate investment was

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Speaker 1: right up there for those people, and for the super wealthy,

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Speaker 1: the ability to have a super yacht parked featured doe

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Speaker 1: very highly for them as well. So the point being,

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Speaker 1: in a place like Auckland, your seventeen million dollar penthouse

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Speaker 1: can be a few hundred meters away, of course from

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Speaker 1: your super yacht. Yet in this country foreigners cannot do

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Speaker 1: that because they are not allowed to buy a house.

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Speaker 1: What they are allowed to do is get a golden visa,

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Speaker 1: and the new rules have proved very popular. There's good

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Speaker 1: inquiry are for five or ten million dollars, you invest

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Speaker 1: in a business, you employ people, you grow that business,

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Speaker 1: You help us out as an economy and you still,

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Speaker 1: despite all of that, can't buy a house. The fact

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Speaker 1: that the apartment has been on the market now for

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Speaker 1: years clearly shows no locals want it or indeed can

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Speaker 1: afford it. So the fear as profit by some that

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Speaker 1: foreigners take houses off New Zealanders at this level clearly

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Speaker 1: is not true. The government or parts of it want

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Speaker 1: to fix this anomaly, and yet they can't or don't

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Speaker 1: because New Zealand First refuses. Rumors a while back suggested

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Speaker 1: a compromise had been reached. National had an election policy

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Speaker 1: of a couple of million dollars as a protection on

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Speaker 1: the lower priced houses. The rumor wa was that negotiated

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Speaker 1: a figure with New Zealand First for about fire or

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Speaker 1: six million ED never came to fruition. So in budget week,

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Speaker 1: when yet again the dire state of our finances is

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Speaker 1: laid bare and a commentary around growth will be pushed hard,

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Speaker 1: one of the answers, i e. The wealthy with money

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Speaker 1: to invest has not been fully enacted because one part

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Speaker 1: of the government is xenophobic. This battle to regain our

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Speaker 1: economic mojo is hard enough as it is without ankle

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Speaker 1: tapping ourselves by refusing to enact blatantly obvious ideas. If

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Speaker 1: we can't pull every lever possible, we have no one

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Speaker 1: to blame but ourselves. For more from the Mic Asking

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Speaker 1: Breakfast listen live to News Talks at B from six

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