Blame for Bermuda's inflated housing prices can be pinned on the international real estate franchise Coldwell Banker, said MP Derrick Burgess last Friday night in the House of Assembly.

With skyrocketing prices in real estate, Bermuda will suffer a “brain drain” said Mr. Burgess, telling the House that if Bermudian college graduates and young professionals cannot hope to buy their own home then they'll go abroad where housing is more affordable. “It's sad that the cream of the crop have to go abroad in order to afford a home,” said Mr. Burgess. “This Coldwell Banker is no good for Bermuda.”

Mr. Burgess said that by introducing the business practices of Coldwell Banker to the local market, higher prices were promoted in order “to make greater commissions”.

Commenting on a recent Coldwell Banker brochure, Mr. Burgess said he felt sorrowful that there were no homes to rent listed under $5,000 a month.

“The public should be made aware of how the real estate agents are driving up the prices of housing,” Mr. Burgess commented, “with Coldwell Banker leading the way”.

Perinchief attacks Sir John's docks plan

MP Wayne Perinchief called himself a ‘nimby' (not in my back yard) in the House on Friday, attacking former Premier Sir John Swan's proposal to build new docks at the Ducking Stool in Pembroke.

Mr. Perinchief's comments came after a Bermuda Sun article, published on July 9, outlined Sir John's plans for relocating the Front Street cargo docks to a new North Shore location. These plans would involve using up much of the Ducking Stool Public Park on North Shore Road, as well as extending Black Watch Pass, and creating a new road to Government House.

“I'm saying this is not going to happen in my back yard,” said Mr. Perinchief, who represents Pembroke Central which would host the proposed development.

Claiming that his constituency and Pembroke West Central have already borne an inordinate amount of development Mr. Perinchief said that if the Hamilton docks were going to be moved, “they better be moved elsewhere.”

He then suggested that Government look into using the Morgan's Point land, which he said has a deep water dock. In addition he said that the old Pembroke dump could be used for warehouses and container storage. He added that by extending Queen Street to North Street the container trucks could easily come and go from town from this new location.

Sir John's suggestion for a new dock location came after Bermuda Container Lines said in their annual report that the Hamilton Docks are working at over capacity.