HOUSE PRICES
TALK OF CONTROL Control over inflated prices of dwellings ought to be considered as well as control over land prices, stated the Minister of Finance (Mr. Nash) in the House of. Representatives yesterday. He admitted that the procedure might be difficult. There was a tremendous shortage of houses, and people with more money than they knew how to spend would pay £1800 for a house really worth only. £1200. Should they allow, a person-who. knew his house was worth-the. smaller sum to take another £600 out of the community? asked the Minister. The abnormal situation ought to be taken into account and the price should not be based on that factor. . Mr. D. C. Kidd (National, Waitaki): Does the Minister realise that people who got money cut off their ■ mortgage i are selling out at high prices? Mr. Nash replied that if" they had j taken money away from men who had loaned it, this was grossly unfair, irrespective of the fact that a five-year limitation might prevent further readjustment The man who sold- at high prices should refund reduced mortgages whether there was a legal I obligation or not.
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Bibliographic details
Evening Post, Volume CXXXV, Issue 150, 26 June 1943, Page 6
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192HOUSE PRICES Evening Post, Volume CXXXV, Issue 150, 26 June 1943, Page 6
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