INFLATED PRICES OF HOUSES
MINISTER SUGGESTS CONTROL (From Our Parliamentary Reporter) Wellington, This Day. 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 know how to spend would pay £IBOO for a house really worth only £I2OO. Should they allow a person who knew his house was worth the smaller sum to take another £6OO out of the community? asked the Minister. The abnormal situation ought to be taken into account, he continued and the price should not be based on that factor. Mr D. C. Kidd (Nat. Waitaki): “Does the Minister realise that people who got money cut off their mortgage are selling out at high prices?” Mr Nash replied that if they had taken the money away from men who bad loaned this was grossly unfair. Irrespective of the fact that a fiveyear limitation might prevent further readjustment the man who sold at high prices should refund reduced mortgages, whether there was a legal obligation or not.
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Bibliographic details
Nelson Evening Mail, Volume 78, 26 June 1943, Page 5
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202INFLATED PRICES OF HOUSES Nelson Evening Mail, Volume 78, 26 June 1943, Page 5
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