The ghost house epidemic and the invisible hand
Last year there were officially 22,000 unoccupied properties in Auckland. This year 33,000 are officially classified as empty. “Auckland’s 6.6 per cent vacancy rate is higher than either Sydney (5.2 per cent) or Melbourne (4.8 per cent), where there has been an uproar over “ghost houses” deliberately left empty by speculators trading on a soaring market”. This is madness.
