Steel Mesh Nightmare Looms for Thousands of NZ Property Owners, Worse than Leaky Homes Crisis. Steel Used in Roads and Bridges Too.

An insurance nightmare is looming for thousands of New Zealand property owners who’ve invested in buildings with reinforced concrete slabs built since 2012. There may also be serious repercussions for property prices in Auckland, and other areas with grossly over inflated values, if buildings become uninsurable because of the presence of sub-standard steel reinforcing. The…