Previously published in Te Ao Māori news
Ngāi Te Rangi is partnering with US-based home manufacturer Cavco Industries to bring cost-effective housing to iwi members.
With four facilities in Texas, North Carolina, California and Arizona, Cavco can build a three-bedroom house for around NZ$240,000, which includes the build and transportation from the US to New Zealand, then to wherever the buyer wants to put the house via trailer.
That is according to Te Rūnanga o Ngāi Te Rangi Paora Stanley, who is closing a deal with an indigenous bank in Nuevo, California, which could provide mortgage loans to house buyers at 4.8 per cent. New Zealand’s average lending rate is close to 6 per cent.
“Everyone goes to the US and brings back Mustangs and Camaros, we’re bringing back houses,” Stanley says.