A couple weeks ago the Tauranga Fruitgrowers' Association held a debate with the Katikati Fruitgrowers' Association as part of its AGM. It was an intentionally light-hearted affair, with the topic of debate being "it is better to own a bach than an orchard". But underlying the topic of debate was a very serious economic issue and a telling comment about the kiwifruit industry. First the economic issue. Simply put, orchards create wealth and baches spend wealth. Arguably owning a bach, especially a bach on the coastline purchased a few years ago, could be a better individual investment than owning an orchard. Of course the ideal individual investment may be owning an orchard next to a beach close to Auckland. The point is that residential property investment is one of the causes for the New Zealand economy being undermined and our dollar remaining at very high levels.
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