OPINION: The EQC blowout is a systemic failure just like leaky homes.
Those are the words of a senior Government source I spoke to while investigating this story.
The EQC blowout is a human tragedy just like leaky homes - hundreds if not thousands of Kiwis with broken homes where the mortgage is now more than the value.
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Broken homes, breaking the Kiwi dream of owning your own place.
It is a story about systemic failure, about people being left with nowhere to go - just like leaky homes.
And there are hundreds if not thousands of Kiwi families caught up in this.
There is one difference - unlike leaky homes, this time the Government is set to be liable.
That is because EQC cleared the homes when it shouldn't have.
All it needs is a test case to say EQC is liable, and given the Government and EQC have on Tuesday publicly apologised, that is almost sure to happen.
And that means another big difference with leaky homes - taxpayers will pick up the bill for putting this right.
Patrick Gower is Newhub's national correspondent.