Light mare on Elm St

HOMES FOUND FOR KAIMANAWA HORSES.—headline

Our property correspondent reports: The influx of
several hundred Kaimanawa horses into the home-
ownership market is almost certain to put fresh
pressure on building construction targets and drive up
fixed mortgage interest rates in the medium-to-long-term.
On the other hoof, it will boost sales at the upper end of the
market. Real-estate agents report that the Kaimanawa
horses have bid keenly at auctions for properties in the
$400,000–$500,000 bracket, provided the properties
in question have good indoor-outdoor flow, very big decks
and plenty of space for the kids to canter in. Economists
describe the outlook as stable.