TOO MANY HOUSES?

Evening Star, Issue 19588, 21 June 1927, Page 2

TOO MANY HOUSES?

A glance at the ‘Evening Star’s’ “For Sale” and “To Let” columns reveals a glut' of four, five, and sixroomed houses in Dunedin, it being estimated that there are between fifty and sixty houses empty at the present time. What, then, has happened to the “housing problem” that so much has been written about in recent years? Has it, in some mysterious manner, been disposed of? Are our citizens all comfortably housed? At first sight it would certainly seem as if a large class of the community has been satisfied, because'sbme difficulty is even found in letting these houses, notwithstanding the appreciable drop in rents. There are many explanations, but unfortunately the least tenable one is the suggestion that there are more than enough houses to go round. The economic depression is largely responsible for the surplus, because would-be purchasers are either holding off for a return to more normal conditions, or are contented for a time to live in flats or share homes with their friends. There seems to be a fear that values will tumble to even a 'ower level, but it seems to bo generally agreed that they cannot fall much more, for the simple reason that if they do builders will find themselves unable to make a profit out of the transaction. Already most of the speculative builders have had to cease operations, which is particularly significant.