‘Rip­ple’ could swamp renters

Our View

Whanganui Chronicle - - Nation - Si­mon Wa­ters

ED­I­TO­RIAL

They’re call­ing it a rip­ple. But it feels more like a tsunami to some. Whanganui’s hous­ing mar­ket is the hottest it’s been for some time.

And while that’s gen­er­ally ac­cepted to be a good thing, there are in­evitable down­sides.

One can only imag­ine what those strug­gling to find a place to rent will think of to­day’s page one story that re­ports those sell­ing up are pock­et­ing a cool $75,000 profit each. Ouch.

It would ap­pear mum and dad in­vestors — among others — are ex­it­ing the rental scene while prices are good.

The homes, still rel­a­tively cheap in New Zealand terms, are be­ing swooped upon by mainly first home buy­ers — and that’s great; the Kiwi dream alive and well.

But the rental stock is shrink­ing. And the dream has be­come a nightmare for thou­sands of fam­i­lies who can’t raise a mort­gage and who are strug­gling to af­ford high rents. And they are the lucky ones.

"The dream has be­come a nightmare for thou­sands of our fam­i­lies . . . "

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