Listening to: Just Because - Jane’s Addiction

New Zealand, like most of the English speaking world, has a super heated housing market.
It has been a constant niggle for me because the quality of the building is attrocious
(and I generally have a huge beef about the way money is invested here in NZ)… and
now it seems to be biting
the poor schmucks at the bottom of investment foodchain:

Vacancy rates in Auckland’s inner-city apartments are rising and rents are dropping,
leaving some investors’ family homes at risk.

About 1500 of the city’s 11,500 units are empty, unable to draw tenants even at rock-bottom
rents, says a report by property-market analyst Kieran Trass of Hybrid Group and Leonie
Freeman of Interactive Property Management.

Sounds a bit like the bubble popping to me. 

This entry was posted on Monday, October 31st, 2005 at 9:58 pm and is filed under Business, Rant. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.