Links 11 September 2019

Global Macro / Markets / Investing:





Leith van Onselen
Latest posts by Leith van Onselen (see all)


  1. NEW ZEALAND: Is the NZ Government aware of the serious social costs of dense apartment slums ? …

    … Michael Joseph Savage and John A Lee of the 1st Labour government were … and had no intention of bringing the British density failures to New Zealand …

    Build-to-rent apartments must not become slums, property specialists warn …Marta Steeman … Stuff NZ

    Property specialists at Massey University caution that mass rental housing like apartment blocks need to be well managed and good quality to avoid becoming slums.

    Debate is building on the benefits of “build-to-rent” housing, often large scale apartment blocks overseas, as a way of tackling New Zealand’s housing crisis.

    New Zealand has little mass rental housing like these apartment developments which are viewed as solid and steady investments by large investors overseas. New Zealand developers build apartment developments to sell rather than rent. … read more via hyperlink above …
    Learning from the British … a documentary classic …essential viewing …

    Inquiry. The Great British Housing Disaster (Adam Curtis, 1984) – YouTube
    The ‘New Zealand Dream’ is still alive … Wendell Cox … New Geography
    ( noting the important Westpac Bank Dwelling Preference Survey)

    … extract …

    … The New Westpac NZ Housing Preferences Survey …

    … Among the respondents, nearly one-half (49 percent) considered a back yard “essential,” while another 42 percent rated the back yard as “nice to have.” Only nine percent considered a back yard to be “not important.” Among first home buyers, there was an even greater larger 55 percent considered a back yard as “essential.”

    A house with a yard is even more important that one close to work. Only 18 percent of respondents considered proximity to work to be “essential,” well below the 49 percent wanting a backyard. While nine percent of respondents considered a backyard to be “not important,” nearly four times as many said that proximity to work was “not important” (33 percent).

    House location also scored much lower in proximity to schools or child care, which was considered “essential” by 22 percent of respondents and parks/recreational facilities, “essential” to 21 percent. Only 11 percent considered living in social hubs (with “eateries and bars”) to be “essential.”

    Finally, access to mass transit was considered “essential” by only 28 percent of respondents and “not important” to 26 percent. This contrasts with the 65 percent who considered a “lock-up” garage “essential” and only four percent who considered it “not important.”

    These results are not surprising for a high income nation. … read more via hyperlink above …


    Fonterra to shed large number of jobs to balance books … Gerard Hutching … Stuff NZ

    Fonterra has confirmed there will be job losses as it heads towards reporting a massive loss at the end of the month.

    The extent of the cuts is unclear, but a number of sources have confirmed to Stuff they have heard about the losses.

    It is understood middle management positions are more likely to go than processing plant workers.

    A Fonterra spokeswoman acknowledged there would be cuts but would not say how many. … read more via hyperlink above …