http://www.maxrashbrooke.org.nz/2013/even-retirees-not-safe-from-inequality/ | Author, Academic, Journalist Sat, 13 Oct 2018 20:45:27 +0000 hourly 1 https://wordpress.org/?v=4.5.16 http://www.maxrashbrooke.org.nz/2013/even-retirees-not-safe-from-inequality/#comment-407 Thu, 18 Apr 2013 10:23:21 +0000 http://www.maxrashbrooke.org.nz/?p=764#comment-407 Back in the day….as the saying goes, 1982 to be precise, my wife and I built our first home in Dunedin for 40k all up, not an exceptional price by any means, but the means by which we managed to achieve it was an example of what made New Zealand a great place to be….back then. We managed to save the 20% for a deposit, received a first mortgage from The Housing Corporation at 9 yes that’s 9%, the balance as a second mortgage from a bank at a rate that makes me shudder! However, my point is that there was once a Government agency that positively encouraged young people into home ownership. The benefits of which we are now experiencing as we devolve into our retirement years. So what was so bad about Housing Corporation loans that the past 30 years of so called liberal economic thinkers found so distasteful? Not enough profit in it for their banker mates? Me cynical….you betcha.

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