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COMMENT: The coming rental housing crisis

Tuesday 30th of July 2019

Government policies like ring fencing are just another example of punishing the perceived rich landlords. The government have contributed to the current rental housing shortage and brought the sector to a screeching stop.

This article is, firstly, a response to the “A stocktake of New Zealand’s Housing” report commissioned by Phil Twyford in Feb 2018 by three so called independent experts. Secondly, it is a response to the proclivity to prejudice demonstrated by the media towards landlords.

The stocktake report is another example of the “echo chamber” effect of using vested interests to reinforce your own philosophy.

With all due respect to the minister, two of the authors are hardly ‘independent’ as claimed. Shamubeel Eaqub is consistently anti-landlord in rhetoric, and Alan Johnson believes “tenancy law has really mediated property rights rather than social rights” and “Housing laws had created an environment for ‘mum and dad’ investors to flourish”.

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FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
1 day ago Steve Wright
FMA outlines its latest expectations for advisers
Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
1 day ago Backstage
FMA outlines its latest expectations for advisers
All things said are great aspirational goals for a great financial advice industry, it mirrors what both the legislation and the code requires. However, like most things discussed it talks about what's expected not how it's done. The hardest aspect of financial advice today isn't what it is, it is how it is done. The how only comes from those that have done it, the how is only provided with examples. Guidance documents that spell out what's required along side how it it done. We’re still dealing with the same issues we started with in 2021, figuring out the how. And figuring out the how in every advice business is consuming resources that could easily be shortcut by the FMA demonstrating what they are expecting. It's not about “do it this way” its about this is the sorts of things we’re looking for. In the absence of standards and expectations, guesswork prevails. That represents significant risk to FAPs and the result is onerous overcooked advice processes for multiple advice operations and undercooked she’ll be right for single operators focused on getting the work done. Both approaches have potential for harm and as its been said earlier, leaves advisers open to explain they haven't been speeding with the authorities have pulled them over. The advice industry needs guidance on the how we know the what already.
3 days ago Jon-Paul Hale
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3 days ago Jon-Paul Hale
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To correct errors in my previous post: "policies, templates, and controls" should read "policies, processes, systems and controls", and "is more conductive" should read "is more conducive".
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