OPINION: Those people lucky enough to win the KiwiBuild lottery will buy their home at a heavy discount.
And when they sell it in the future, they'll receive the full market price. That doesn't make any sense.
To see why, let's keep things simple. Suppose lucky Bob gets to pay only $500k for a KiwiBuild house that's valued at $1 million in the open market.
After three years he decides to sell. If the market stayed flat, he'll pocket a windfall of half a million, a parting gift from the Government. Even if the market plummeted by 50 per cent, he'll break even.