Id argue we have a lack of investment and ownership crisis. The houses are there, we just all rent.
Plus, in theory, many of our country’s problems come from low value productivity and goods. Skilled come over, higher value exports, more development here, more tax, a country that can actually do something.
Yes this is probably true, but what will end up happening is that we will continue to buy houses off each other at ever inflated costs. Only the bankers will win.
Investment into productive assets is just not the NZ way.
Hence why the govt needs to step in to regulate housing investment - take some of the demand out of the purchasing market, which then lowers the equilibrium price and makes current ownership even less attractive.
Id argue we have a lack of investment and ownership crisis. The houses are there, we just all rent.
Plus, in theory, many of our country’s problems come from low value productivity and goods. Skilled come over, higher value exports, more development here, more tax, a country that can actually do something.
Yes this is probably true, but what will end up happening is that we will continue to buy houses off each other at ever inflated costs. Only the bankers will win.
Investment into productive assets is just not the NZ way.
Hence why the govt needs to step in to regulate housing investment - take some of the demand out of the purchasing market, which then lowers the equilibrium price and makes current ownership even less attractive.