Thursday, 16 April 2015

Quote of the Day: On the world's most unaffordable housing

“‘Traffic jams,’ says Andrew Galambos, ‘are a collision between free enterprise and socialism. Free enterprise produces automobiles faster than socialism can build roads and road capacity.’
    “That same collision is ever present in NZ's severely unaffordable housing markets: a demand bubble inflated by cheap credit and new immigration colliding with a supply suffocation by the socialism of the state. At a time when greater supply is desperately needed to mop up exploding demand, instead we have 'planners' -- those throwbacks to the failed central planning regimes of socialist states – eagerly throttling the rickety supply lines we do have.
    “It's time that unemployment was urgently increased … among the fraternity of planners who have condemned New Zealand's home-owners to half a lifetime of paying off their houses, if they can get one!”
- “Welcome to the land of milk and honey ... and the world's most unaffordable housing” - NOT PC, 2008

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