My Oh Ma

[Perry]

Some scale!

Meet Charles Ma, the 28-year-old land developer behind a $1 billion Auckland housing project
27 Jan 2019
A 28-year-old entrepreneur believes his $1 billion south Auckland housing project will be held up as a "blueprint" for future developments. Land developer Charles Ma, an Auckland-born Kiwi of Chinese descent, through his company Made Group is developing a 2700 section housing project in the Auckland suburb of Drury, 40 kilometres south of the central city. The civil engineer and business graduate started working on Auranga five years ago with the goal of creating a community that puts people at its centre and creates "a more fulfilling life" for residents.

[Davo36]

Hmmm awfully big development for a 28 year old to plan and run.

Being built at what is possibly the top of the market too...

[Keys]

There once was a young lad who promised to buy up a total cul de sac in a bad area. Tidy it up from the bad, run down state it was and have quality rentals to offer to the public. I believe he went bankrupt (with other people's money).

[eri]

^

i believe that was paeroa

https://www.landlords.co.nz/article/976511419/a-sad-tale-of-positive-cash-flow-property

[Keithw]

oh you bunch of cynics, tall poppy choppers
I wish him luck with it, but as some of the comments below the story point out, its still miles from anywhere and still mid-high priced. would you want to live there ?

On the going bankrupt side of things, i guess he's taking the Trump approach:
if theres a problem with a million $ loan I have a problem,
if theres a problem with a billion $ loan You have the problem


afterthought:
Maybe he's been talking to taxinta and has got a Wellness loan !

[eri]

paeroa 2008

https://www.newshub.co.nz/business/how-one-man-turned-one-paeroa-street-around-2008061220

2010

http://www.stuff.co.nz/waikato-times/news/3568334/Ghetto-cleanup-turns-ugly-for-out-of-towners

[artemis]

He is relying on the roaring success that is Kiwibuild.

[Perry]

Not according to this fellow.
28 Jan 2019

With KiwiBuild having difficulty getting projects off the ground, he suggests it might be time to switch to building social housing or even rental houses, because buyers aren't at the price points that KiwiBuild houses are selling for. "The underlying issue of affordability never went away, and that's been the achilles heel of KiwiBuild from the beginning.

[Davo36]

Not according to this fellow.
28 Jan 2019

Well he's right, they aren't affordable.

But then I laughed at him recommending more rentals - him being a serial-renter for years until he saw the light.

[Perry]

Tut, tut, David. You weren't expecting consistency, now, were you?

[Davo36]

Tut, tut, David. You weren't expecting consistency, now, were you?

Not from economists I guess, no.