145 State house worth more than a $1M

Chris Carter has admitted in parliament that the Housing Corporation owns 145 houses that are each worth over $1 million.

This is patently ridiculous for the Government to own 145 house worth that much. Of course it doesn't look so bad unless you total them up and write it down thus; $145,000,000.00.?

Now to build an average house on an average piece of land would cost in Auckland about $300,000. That means with $145,000,000.00 to play with you could build an additional 483 houses easily covering the loss of 145 houses by a factor of three.

Put that in further perspective, there are 11,000 families on a state house waiting list. 483 of them would have somewhere to go, a reasonable chunk in anyones book.