The June 2017 Auckland “Mayoral Taskforce” report on housing said NZ had a housing shortfall of 500,000 dwellings. As a result we have the highest house prices in the world.
This is a permanent problem as we believe the problem has been created by councils. Until urban boundaries are removed prices will remain high and inequality will grow.
And in 30 years time when houseowners can’t put the new Landrover “on the house”and we are all paying huge mortgages or rents our economy will collapse.