Kanik Mongia

MSM gobsmacked at David Cunliffe gaffe

My expose on David Cunliffe’s housing cockup yesterday is being echoed through other media today.

Susan Wood at ZB observes

Political stunts are fraught with danger. The dead snapper former Labour leader David Shearer held up in Parliament didn?t do his career any good. And this week?s choice of an aspiring home buyer to represent young Aucklanders struggling to get into the Auckland property market seriously missed the mark. It was part of Labour?s attack on new mortgage lending restrictions that came into force yesterday.

Labour leader David Cunliffe met with the 23-year-old, Kanik Mongia, in central Auckland in front of media. The IT consultant has been looking for properties in the $400,000 to $500,000 price range in South Auckland or Mt Wellington for the past four or five months. He has saved enough for a 10 per cent deposit, so that is $40,000 or $50,000 in the bank.

What was so unusual about Labour championing this young man?s plight is that he doesn?t seem to have a plight. These were his words about buying a property: ?If it?s good enough I could live in it, otherwise it could be an investment property.?

Excuse me, an investment property?

This is not a young man struggling to get a home to live in. He obviously has a roof over his head if he is talking about buying an investment property.? He has saved 10 per cent already, he has a job as an IT consultant and one assumes with a little more time will be able to save some more for a deposit.? And he is just 23.

From Rufus Paynter to Snapper to Kanik Mongia, Labour just can’t resist gravitating to their own destruction.

The Dominion Post also chimes in with an opinion piece ? Read more »

Own goal from David Cunliffe on housing

Kanik Mongia speaks with the Great One who learned to walk on water from Jesus

Kanik Mongia speaks with the Great One who learned to walk on water from Jesus

David Cunliffe finds a first home buyer as his poster boy in order to smash the government over the new LVR changes from the Reserve Bank.

Labour Leader David Cunliffe said he would use a number of tools to cool the property market without restricting access to first home buyers.

He met today with prospective first home buyer, Kanik Mongia, 23, an IT consultant, who had his ASB pre-approval on a 90 per cent loan for a $400,000 – 500,000 home cancelled by the bank because of the LVR changes.

While there is need to cool the property market, especially in places like Auckland, the new lending rules will have “unintended consequences” on first home buyers, Cunliffe said.

“Unfortunately they are taking it out on the hide of first home buyers like Kanik, and that’s not what we want. We want young people to be able to get into their homes and we don’t want young speculators driving prices through the roof,” Cunliffe said.

Labour would want first home buyers and certain regions of the country exempt from the LVR restrictions, Cunliffe said.

“What’s the point of putting a move like this on Palmerston North, where prices have been flat or other places down south where prices have actually been falling? The problem here is one of government policy. They have taken a sledgehammer to crack a nut,” he said.? Read more »