Christchurch landlords are ruthlessly exploiting the lack of accommodation by demanding extortionate rents.
Rents in Christchurch have skyrocketed. By April last year rents had risen by 26 percent while the national average was 4 percent. An average house was costing approximately $430 a week to rent - up nearly a $100 from the previous year.
The situation has continued to worsen since then, with the government consistently refusing to intervene and simply allowing the vampires of 'the market' to run amok. Meanwhile Mayor Sideshow Bob, like the good little government poodle that he is, has kept his mouth shut and done nothing.
But the greedy vampires are always wanting more blood and now they have spied an opportunity to capitalise on the housing crisis by renting out quake damaged houses at extortionate rates.
The houses are so damaged that the insurance companies won't touch them with a barge pole but according to Christchurch-based Real Estate Institute of New Zealand director Tony McPherson these wrecked and potentially unsafe houses are still 'habitable' - and extortionate rents can be demanded for the dubious privilege of living in them.
Real estate companies and landlords are clamouring for some of the action.
Real estate agent Phil Jones of Ray White told The Press , "You could get a 20 to 25 per cent return on your investment,'
Fellow bloodsucking vampire Mike Pero of Mike Pero Real Estate agrees.
He says: "What people are realising is that a house might have a crack through the foundation but otherwise be fine as long as we don't get another quake. ''
So everything is just fine apparently - as long as we don't get another quake. And what about the unfortunate people in the house if we do get another quake? Mike Pero is just interested in the cash, folks.
Pero, who has often been heard pontificating about the 'Canterbury spirit', says:
"As an investor, you could buy a five-bedroom house in Queenspark that had been written off by its insurers, make it safe, and put tenants in it, and you might be able to get $1000 a week. You've got to know the risks though, and know you won't get insurance and you won't get a mortgage on it. I would have no hesitation myself doing it."
And, Mike, you're going to guarantee that the vampires will make the houses safe? The same landlords that are renting out garages as accommodation? Why should they start behaving any differently now?
The Press laughingly describes these bloodsucking vampires as 'savvy investors...'