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  1. #1
    Join Date
    Sep 2008
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    7,581

    Default are nz houses over-priced?

    here's an interesting exercise for you

    go to the page at bottom

    at the top of the graph, click on the blue box and select "prices against average income"

    then on the right side select all 20 countries

    http://www.economist.com/blogs/freee...l_house_prices

    you'll see that only hong kong has more expensive housing compared to income

    why is this?

    perhaps because we demand to live in 1st world homes

    but only earn 2nd world wages...

    unless the country can earn more through exports we simply can't afford australian homes with 2 car internal garages, ensuites, studys, rumpus rooms, ice-making fridges and 42inch lcd tvs

    what we can afford is 3 bedrooms, living room, kitchen, car port, normal fridge and a 26'tv

    this shouldn't be surprising

    afterall, our productivity, size, exports and location, all slot us somewhere between australia, on 1 side and fiji, tonga and samoa, on the other
    have you defeated them?
    your demons


 

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