Professional gloomster Bernard Hickey, who it will be recalled spectacularly wrongly picked an imminent Auckland house price crash a decade back and sold up saying he would shift to Wellington, is at it again.

He’s quoted (unsurprisingly) on the Stuff web-site saying “Past generations have borrowed wealth from the future and now this generation is paying for it big time”.

That is world class cock.

Every child born today inherits trillions of dollars of infrastructure in roads, buildings, schools, bridges, airports and much more, paid for by past generations and with a current value or cost massively in excess of the nation’s current debt.

A decade back, before I could take no more of Air New Zealand’s infantilism and bought my own jet, I found myself on a flight to Auckland in the front window seat facing the hostesses when in the childish fashion unique to Air New Zealand, everyone had to buckle up twenty minutes before landing.

One thing led to another piss-taking wise with the girls and soon we were all rocking with laughter, including the two chaps next to me.

We were first off and my seat companion walking besides me introduced himself as the now notorious (the dramatically wrong house price call) Bernard Hickey. He seemed an amiable bloke.

In the car on the way to the city I mentioned I had sat with Bernard. “How tall is he?” I asked the Auckland office employee driving. “He’s very short isn’t he”, was the reply.

Over the next few days I tried this question on a diverse range of people, all replying he was very short.

In fact Bernard is a tall bugger but his pervading negativity cast a little man imagery. Food for thought.

Incidentally, the article Bernard was quoted in was world class nonsense. I looked up its author, a woman called Jade Kake, described as an architectural designer. Perhaps she designs architects, a new supposed field of study to add to the current corruption of universities with their numerous bogus non-intellectual “disciplines”.

Our housing problem is a world-wide phenomenon attributable to a rich variety of issues, a critical one being the global shift to city living, currently 55% of the world’s population.

But the article was too silly to detail, albeit would have appealed to Stuff’s readership imbued in the injustice that some folk are better off than them.


Just like Tony Alexander, the BNZ Chief economist, predicting that house prices would fall by 10% in New Zealand due to the lock downs.
How wrong could he have been, with house prices increasing by 30% in some regions.

Very true Sir Bob,.. little thoughts, negative thoughts, equals a negative little man ,.. figuratively speaking.
The type of mean little spirit to be avoided in these strange days.

I remember those comments of Hickeys very clearly, it was April 2009, I had been thinking about another residential investment property, and his doom and gloom prophesy actually spurred me into buying another another, a three bedroom house in Pakuranga Heights, 100% geared. I sold it last year and made a $500,000 profit, the last tenants stayed 8 years, always paid lower than market rent and gave me no worries at all.
BTW, I bought my first property in 1971 aged 17, bought your book “Jones on Property” when it was published in 1977 and never looked back. Thanks Bob, and yes, Hickey is a professional gloomster.

Hickey is no more knowledgeable as another so called expert Ashley Church; both heavily into self promotion but with no substance behind them.

Maybe they see it as a way to more into politics, as governments seem to be littered with them (excuse the pun). Perhaps explains the poor state of world economics.

Free market ideology (which is a myth anyway) hasnt served us well (especially NZ), with the concentration of power and wealth now in the hands of a few. Maybe it has been like that for some time, but its no more obvious than today.

I do understand why the wealthy minimise paying taxes, when they see these ex journalists turned politicians waste it on do good pc stuff..I guess its what you get served up when most of them want to keep their job rather than make the hard calls.

Yes, past generations have build billions of dollars of infrastructure, which comes with a maintenance cost.
However, with retirees (over the past 3 decades) wanting to keep their running costs down, we are now borrowing to pay for the maintenance bills, while the cost of new infrastructure is a record prices reflecting the lack of competition that globalisation has created.

There is a solution, but I fear the planet will depopulation of the human race before this is found.

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