Posts Tagged ‘ghost houses’

The ghost house epidemic and the invisible hand

Written By: - Date published: 7:01 am, June 13th, 2016 - 54 comments

Last year there were officially 22,000 unoccupied properties in Auckland. This year 33,000 are officially classified as empty. “Auckland’s 6.6 per cent vacancy rate is higher than either Sydney (5.2 per cent) or Melbourne (4.8 per cent), where there has been an uproar over “ghost houses” deliberately left empty by speculators trading on a soaring market”. This is madness.

Ghost houses and the invisible hand

Written By: - Date published: 7:01 am, June 16th, 2015 - 243 comments

Auckland has an urgent deficit of 20,000 to 30,000 houses. Meanwhile 22,000 houses are sitting empty. Behold the efficiency of the market!

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