Len wants more houses because of the hole in the books

We all know Len ain’t the sharpest tool in the shed and while it’s taken an age he finally seems to have clicked that he has a role to play in the NZ economy by addressing the long running housing shortage in his manor.

The hermit who runs the Reserve Bank has finally come out of the closet and talked supply to the media and someone has tapped Len on the shoulder and told him when interest rates go up next year he could get a lot of blame, and rightly so.

Auckland Mayor Len Brown hopes the Reserve Bank Governor will rethink interest-rate rises following an unveiling of plans for the city’s first Special Housing Area.

A total of 282 homes will be built on a South Auckland site which is the first of a tranche of areas across Auckland earmarked for rapid development.

The first homes should be ready by mid-2014 and the entire development finished by 2017, thanks to the Auckland Housing Accord between Auckland Council and the Government which will fast-track the development through the resource consent process. 

More special housing areas will be announced next week as part of the accord.

The $102 million development, to which the Government will contribute $29m, is expected to provide first homes to 113 families, and a further 169 rental units.

The announcement follows Reserve Bank Governor Graeme Wheeler’s warning that mortgage rates could jump to 8 per cent in two years if house prices continued to skyrocket.

But Mr Brown is hoping yesterday’s announcement will signal an easing of pressure on housing.

“My hope is that that’s the sort of message that the Reserve Bank Governor will see, respond to and perhaps be moderate in his assess-ments of how we’re going with our interest rates.”

His train set is looking severely unaffordable due to his total lack of fiscal discipline and staggering borrowing numbers, an extra 39,000 properties to rate could come in quite handy.

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.