Nick Smith's hopes of quickly extending the Special Housing Areas Act and throwing in a clarification of the rules on offering back Crown Land dissolved through more than 17 hours of Parliamentary debate over the last two days.
The symbolism of it could not be any clearer.
Auckland property developers report banks pulling back from lending for new apartments and sections in recent weeks, potentially frustrating the Government's hopes for a 50% increase in privately-funded residential construction there over the next 18 months.
For the convenience of email-avoiding subscribers and samplers, here's the email sent earlier on Wednesday.
For the convenience of email subscribers, here's my weekend column on how Nick Smith is hoping to change the expectations of land bankers sitting on 45,000 sections in Auckland by ramping up land supply and killing the Metropolitan Urban Limit.
Building and Housing Minister Nick Smith and Auckland Mayor Len Brown are hopeful a surge of consents for new sections under the Accord will put pressure on land prices and convince bankers to release land for development.
Prime Minister John Key has rejected a Labour offer to split out housing consenting from the Government's stalled reforms to the Resource Management Act (RMA), describing the offer as a hollow promise.