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No Deposit Home Loans For Maori Only

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Brian Dalley
Brian Dalley

Maori (and only Maori) have been offered no deposit home loans as New Zealanders have been told to save for a deposit. It may look like I am discriminating with that comment as aren’t we all New Zealanders but I ask you, who is doing the discriminating?

Housing spokesperson and Māori Party co-leader, Tariana Turia, is proud that another key milestone in the Māori Party's policy manifesto has been achieved with the Housing Minister's announcement of a new home ownership product called Kāinga Whenua (and why won’t she be).

"Our policy priority was to resource iwi and Māori organisations to develop sustainable housing initiatives" said Mrs Turia. "This came from our recognition that Māori often have the land but not the income to service borrowing" said Mrs Turia. "We were particularly keen to encourage investment in multiply owned land, so that Māori would be able to experience home ownership on their own papakāinga".

I guess as the Crown will guarantee the loans that will be in partnership with Kiwibank and Housing New Zealand (which we as New Zealanders have an interest in) our investment will be safe. Remember they will be building single storey homes on wooden piles so if, and I say if, they don’t pay, the house will be taken away.

Can you see it, hey Bro’ we are here to take your house, get your gear out and unplug the power.

The government played a similar Maori / Polynesian card back in the 90’s which didn’t come to anything apart from all the racist remarks I received for marketing the offer. As I said to the irate people at the time and there were a few, I didn’t make the policy and if I did any proposal would be targeted at the majority rather than the minority.

With this new initiative, it was reported that 180 loans are expected to be offered under the scheme in its first year however, it was also reported that there are 10,000 people on Housing New Zealand’s waiting list.

Fundamentally flawed? Looks that way doesn’t it.

I am not Maori bashing here but come on, constantly singling Maori out for special treatment does wear a little thin at times especially when there are so many others in a similar position.

Sure the Maori have their own land and the Pakeha doesn’t but couldn’t the government change that.

It has been well document that I am an advocate for leasehold land to make housing more affordable. I am not asking for a hand out, rather a helping hand for all New Zealanders that need assistance.

Housing would be much more affordable, for a lot more than 180, if the government and or councils worked in tandem with developers.

To those that wrote to me asking me to make their feelings known, thank you for contacting me. I can assure you I will never be silenced when it comes to righting the wrong or at least bringing the facts to people’s attention and I do feel an injustice as happened here.

It is only by working together that we can make things happen and absurd Brownie-point gathering such as this ridiculous package is not going to benefit anyone in the end. If history is anything to go by, I believe this is doomed for failure.

All one needs to do is look over their shoulder at the carnage caused throughout the world when people had little to no equity (hurt money) in projects. I am talking of those that had up to 100% lending who simply handed their keys back to the Banks and moved on when the going got tough. Yet before the dust has settled, we are at it again.

Brian Dalley is a leading Property Consultant | former NZMBA Mortgage Broker, and Real Estate Agent.  You can read more of his views and opinions on his website 

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