Reserve Bank Governor Adrian Orr. Photo / NZME
Flawed policies widening the divide
Our Reserve Bank Governor Adrian Orr's attitude to the massive rise in house prices is unconscionable for basically saying it's not his problem. He is the one controlling the country's purse strings. By reducing the interest rates to nearly zero he is giving away virtually
free money to speculators to invest in houses and property, further fueling an out-of-control house and asset bubble. This rewards borrowers and penalises savers. Young families saving for a home deposit have seen house prices going up annually at more than their gross income while at the same time the miserly 1 per cent bank interest paid on their savings is taxed at source including the portion lost to inflation, thus destroying any possible chance of home ownership. These flawed policies are exacerbating an already massively divided have/have not society that will require more than gated communities to protect the haves in future as society self-destructs.
David F Little, Whangārei
Totally Totara Park
Just read Kerre's article on housing ("Elusive hunt for a place to call home", November 15) and it's true, people are looking at all sorts of areas for housing these days. Has Kerre and family considered The Gardens or Totara Park?
Excellent schooling — The Gardens school is second to none and the area is good value for money and has quality housing.
Close to the main transport links — train, bus, motorway.
Lots of multi-generational families live here. Very diverse neighbourhood. Dog off-leash areas and of course the wonderful Totara Park and the Auckland Botanical Gardens. Just a thought.
Liz Burrett, Auckland
Charlotte is an inspiration
