Home ownership, once a common part of life in New Zealand, has been severely eroded through stagnant incomes, high interest rates, housing ‘bubbles’ and other inflationary aspects of the present financial system. Ownership is the key to better wealth distribution. When properties are owner occupied, homes are better maintained, populations are more stable and communities more cohesive. All these add to the prosperity of a region’s economy.
To that end Social Credit will:
• Encourage home ownership
• Help young families, first home buyers, and qualifying people on low incomes into home ownership through the provision of low interest loans
• Loans will be from a division of the Reserve Bank (see Toolkit for a New Economy) through locally owned banking institutions or co-operatives
• Similar funding will be made available for retro-fitting of older homes with energy-saving and water-saving devices, and solar panels
• Loan terms will be set so that repayments are affordable
• Implement a Housing Plan, as a dedicated savings scheme to be administered by the Reserve Bank
• Apply the Housing Plan to both new and existing homes, where renovations are energy efficient and environmentally friendly
• Continue administration of state-owned rental units and expand the state owned housing stock
• Implement steady, long term policies which enable the building industry to plan ahead
New homes built with eco-friendly features such as solar panels, photovoltaic systems, double glazing and grey water systems will be far more affordable using this lending tool.
Rent-to-buy schemes and other ways to establish wider home ownership and effect the repair and enhancement of local environments.