A house went up for auction across the road from us.We went over to have a look.There was an indian family and a pasifika family doing the bidding.There was also a person bidding by phone.The house sold for 420K to the phone bidder dude.The indian and pasifika families were clearly devasted.They were young families (sp) trying to get their first home.
2 months later,the house is up for sale. The european real estate agent who bought the house has done nothing to it what so ever,and will likely make 20-30k profit on it.(possibly more.)So it isnt just a yellow peril,its a greed and profit making peril.(which it has been from the start.)
