Daily Archives: April 14, 2012

How perverse is the New Zealand housing market?

As we sink deeper into debt with the rest of the world, more of our productive assets such as dairy farms will be sold. Ironically, in seeking to own the expensive roofs over our heads we increase the risk of becoming tenants in our own country. –Peter Lyons

Peter Lyons does another ripper opinion piece, this time on the inanities of the domestic housing market: Housing inflation distorts economy (ODT 12.4.12)

● Peter Lyons teaches economics at Saint Peters College in Epsom and has written several economic texts.

The housing market is mostly driven by short-sighted sharks who clip the ticket without wider conscience for community or sustainable land use. Sprawl is written on their foreheads in ‘capital’ letters.

We have our own pack version based in Dunedin. Their efforts severely blot the Central Otago landscape. Now they’re ripping into Mosgiel.

The latest subdivisions (for sale) on the Taieri resemble every substandard example seeded at Wanaka district … a lowbrow microcosm of the scourge of dormitory suburbs that sweep the world, starting close by at Auckland. Luckily, we don’t have the population at Dunedin to extend too far, and we have too much local debt (a different sort of extension, why thanks DCC) ??

Who develops the sites? One is our buddy Cr Sydney Brown —tasteless, desperate or dim people buy them (the ‘flat sectioners’), even on a flood plain. Don’t they.

Posted by Elizabeth Kerr

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