Thursday, June 23, 2011

Good Solid Common Sense - Update

And generous too. 5,000 homes for $600 mil.

That's my immediate reaction to the PM's announcement of the first major stage in the recovery programme for Christchurch residents.

I like the fact that there is to be no compulsion. People have plenty of time to consider their options but at the end of the day they have a guaranteed buyer for their houses at a price which probably is higher than the market price had there been no earthquakes.

People who failed to insure their homes can get stuffed and that is as it should be.

There are to be no suburbs razed by gummint decree. Minimal gummint interference with maximum decision making by residents.

Does anybody seriously think these decisions could have been made any earlier when there have been over fifty after shocks in excess of 5.0 on the Richter scale?

With more to come every day?


I can't see anyone rushing off to vote Labour because of this announcement.


Anonymous said...
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James Stephenson said...

Bruv, I'm not Nats biggest cheerleader but I pretty much agree with Adolf. I think the government has found a pragmatic solution and a reasonable balance on the spectrum between "government should fix everything" and "government should butt-out".

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Adolf Fiinkensein said...

Bruv you can fuck off.

The post was written very quickly AFTER the PM's speech had been live streamed on ABC TV

Inventory2 said...

It's a pragmatic solution, as James notes, but it is merely the first step in what will undoubtably be a long process. It's ceratinly going to make things a lot easier for homeowners who are stressed out of their brains if the government buys them out, then does the negotiating with the insurer later on.

And as far as the uninsured go, it's a risk they have taken, and it has backfired. Home and contenmts insurance should be one of the first things budgeted for each week.

Anonymous said...

The government are being decent and balanced. Goof's lot will whine though.


Anonymous said...

Pie boy is one sick overweight male

pdm said...

One of the most astounding things I heard just after the announcement is that the Chch City Council contracted it's rating valuations out to a NSW company and none have been done since 2007.

Most people are therefore at least 20% better off with the Govt's offer and some perhaps 50%.

mawm said...

I2 - the uninsured are getting everything but their household contents paid for by us. They made a bad choice……and yet again we are bailing them out.

IMO the govt should have bought the land only. The insured should be claiming for the building from their insurance Co's.

Adolf Fiinkensein said...

mawn I think you might be wrong. I saw somewhere it is only insured property owners who will receive the offer.

mawm said...

You are correct. There was nothing about the uninsured in the original announcement, as carried by the Herald. It specifically did not separate the insured from the uninsured. Updates have been more specific.

I think buying the land and possibly creating a large green space with cycle and jogging tracks, etc. is the best option. Buildings and contents should have been insured by the individual and we cannot keep on bailing out those who make bad choices.

Adolf Fiinkensein said...

pdm, that's interesting. These rating valuations are y-usually carried out every three years. I wonder why they were not done in 2010 when they were due? Someone should be asking Mr Parker a question or two on that score.