Is there anything in the world duller than cricket?* Cricket is one of those sports that is so painfully slow, that commentators have nothing to do but talk about the crowd. Or the weather.
Almost daily reporting on the Auckland housing crisis has a similar appeal. Now, that is not to say unaffordable housing is not important. It is, and The New Zealand Initiative has said time and time again that this is a supply-side problem, requiring an easing of red tape, and greater incentives for local government. Our most loyal readers may be sick of hearing it, but we stand by it.
So by no means is housing an insignificant issue. But is it really necessary for the Herald to include nearly daily updates on what is happening in Auckland housing? Over the past week we have heard ‘Property market about to 'go bananas'’, that ‘Survey exposes Aucklanders' property obsession’, but ‘Fewer expect NZ house prices to rise’.
That’s right, housing went from sunny skies to storms ahead (or the other way around, depending on whether you are a buyer or a seller) in a week. This running commentary is not only confusing, it is also incredibly inconsequential for a majority of New Zealanders.
In the absence of any real action or change, the Herald’s attention inevitably drifts to the crowd of innocent bystanders.
In case you haven’t heard, Lorde bought a house. In Auckland. It cost a lot of money. There is also a young millionaire in our midst, who owns 11 rental properties. Also in Auckland. He’s from China (as the Herald so helpfully informs). The Auckland market is so overheated some tenants are even compelled to pay their rent with other forms of currency (I’m talking about sex).
I’m sure there are a lot of observers who aren’t interested in the play-by-play commentary. Most are just waiting for policymakers to lift the artificial constraints to supply so people can go back to their normal lives.
But like cricket, celebrity gossip, and stories on health trends, perhaps the distracted housing commentary has an appeal to Herald readers I don’t understand. In the meantime, how about we relegate these daily updates on the Auckland property market to where they belong: the sports or weather section.
*Views on cricket do not necessarily reflect the opinions of all Initiative staff.
Housing news about as thrilling as cricket
5 February, 2016