Why house prices are up and ownership is down
8:02 AM Friday Jul 18, 2014
New Zealand house prices are very high, compared to history and globally, according to a new report. Photos / NZ Herald.
Blame it on the Kiwi culture of home ownership and housing investment. Blame it on the tax system. Blame it on easy access to mortgage finance.
Whatever culprit you choose, the result is the same - high house prices, compared to our incomes, compared to rents and compared to other countries.
"There is no easy fix to New Zealand's overvalued housing market," says Shamubeel Eaqub, principal economist at the NZ Institute of Economic Research.
Read more in the Granny at
8:02 AM Friday Jul 18, 2014
New Zealand house prices are very high, compared to history and globally, according to a new report. Photos / NZ Herald.
Blame it on the Kiwi culture of home ownership and housing investment. Blame it on the tax system. Blame it on easy access to mortgage finance.
Whatever culprit you choose, the result is the same - high house prices, compared to our incomes, compared to rents and compared to other countries.
"There is no easy fix to New Zealand's overvalued housing market," says Shamubeel Eaqub, principal economist at the NZ Institute of Economic Research.
Read more in the Granny at
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