Ponsonby is rare in that its main street wasn't and still isn't dominated by the same chain stores many other suburbs are -
The was a reason for that. Ponsonby was a poor area dominated by the Pacific community, students and the bohemian sector of Auckland, hence no market for the big stores which were, anyway, just down the hill on Queen Street.
Ponsonby followed the usual pattern inner urban decay. First it was an area of cheap workers housing serving the Docks and the industries that were served by them. Once those industries moved away to newer, more modern facilities, that were serviced by new roads, rail and more efficient transport, then the rot set in.
From that point it followed in the footsteps of places like West Palm Beach
By the early 1990s there were very high vacancy rates downtown, and serious levels of urban blight.
Since the 1990s, developments such as CityPlace and the preservation and renovation of 1920s architecture in the nightlife hub of Clematis Street have seen a downtown resurgence in the entertainment and shopping district. The city has also placed emphasis on neighborhood development and revitalization, in neighborhood districts such as Northwood Village, Old Northwood, Flamingo Park and El Cid.
As the area went down hill (not literally of course or it would have ended up in the gasworks that dominated the bottom of College Hill, later to become Victoria park market but that is another part of another story) houses became cheaper and the slumlords moved in. This actually suited the bohemian community which expanded into a hotbed of creativity with cafes, such as the Open Late and the growth of entertainment at the notorious Gluepot
The changing of the liquor laws in the late eighties and early nineties saw an explosion of bars and cafes which attracted the notice of the nouveau riche, the yuppies if you will.
And that, my friend, was the beginning of the end. The uncooling had begun.
You see, once the "cool" people arrive the uncool wanabees start to buy their way in and from then on, its all about the money.
I think Lianne said on the radio that they hope it would be self-sustaining once it's up and running.
Which it would as long as the amount borrowed is not huge. Maintenance is not a massive cost, especially if it is carried out by the corporation and not tendered out to profit making companies. Rents are, at the moment, running at about the same level, if not higher, as the interest on borrowing for the property and subsidies are available from MSD for those that cannot afford market rents and qualify.
So it would not be unreasonable for the project to, eventually, become self funding.
Everything Amanda W suggested would make long-term renting a less attractive alternative.
Not necessarily. It would be counter productive to regulate landlords out of existence but there should be a large and professional section of that market to make it unnecessary for the slumlord to exist. To have a reliable supply of rentable property we have to reduce the number of small landlords, people with one or two properties as rental/investment properties who tend to sell up and thus create unstable tenancies, and increase the "professional" large scale operations that are in it as a serious rental agency. This will happen naturally as property, in itself, loses its attractiveness as an investment and investors turn to better investments such as shares in productive businesses.
Oh and Russ
Amanda Wreckonwith / A Man to Reckon With., not, I believe, someone called Amanda,.
I think he's a Man... Duh!
They don't even have to be state houses. We just have to make sure the restrictions placed on landlords, rental agreements and capital gains are conducive to a rental culture.
I agree but the situation we have is that we are constantly told that home ownership is the Kiwi ideal and that people who live in state housing are somehow a failure. If the Govt. were to build and own a vast swath of property for everyday working people then the private sector would, instead of competing with the state sector, be able to concentrate on higher end rentals for those on higher incomes, thus, creating an environment where renting isn't seen as a failure to own.
Generally though people who get in on the "property ladder" end up paying as much to the banks as they pay for their property through mortgages and at the end of the day, unless you drastically scale down your investment by either moving out of town or going back to rental, you are unlikely to see any return on that outlay
ie. if you owned in Herne Bay for ten years you may have seen your house rocket in value but if you want to stay in Herne bay then the house you buy next will have an equally inflated price as the one you're selling, so no real profit at all.
ETA In fact you would lose out on the interest paid to the bank and that is little different to paying a landlord, who ever it is.
And now the government has declared it has no interest in building, or even owning, more state houses.
Exactly my point.
To be honest, a long-term rental with more certainty would probably be almost as good as owning for us, but I’m not going to hold my breath waiting for the current powers that be to create the kind of environment where that can happen.
This is the norm in Europe and it would have prevented the whole un-affordable house problem had some far sighted Govt. decided to build more state houses. Oh hang on, they did but then National gets in and decided it was compulsory to own your own home unless you were a Feral, in which case you should just curl up and die.
I've always thought headlines are something the British newspapers do really well.
Ausies ain't too bad either, although they do tend to be a little grubby. I remember back in the eighties when a large transport company hit the skids. Headline: Aus Trucking Failure. Always sounded like a Spoonerism to me.
Quite topical there Russell. This Government is doing its damndest to do just that with the Slavery Amendment Bill, or the Employment Relations Act Amendment Bill as some would have it.
Property tip for those that want to get in on the ground floor, as it were, bucolic Mangere Bridge is set to be the next Ponsonby. It has the potential to have a rail service to town and is a stoned throw up from the Airport.
According to those stats there is a downturn in population in that area, strange to say the least.
A astute observation there Mr. :D
This week in Parliament, in fact yesterday, Parliament was invited to welcome a delegation from the Fijian Parliament, which they did, with much banging together of hands.
I wondered what they were there for, was it to observe another successful Pacific Dictatorship? Of course this can't be the case as Fiji had an open and democratic election. So all is well with the world then.