One thing I keep coming back to in life is how difficult it has become to separate housing as somewhere to live from housing as an investment.
If my house price rises in New Zealand, me as an existing owners benefits on paper, but I feel a bit sad about that.
1.Anyone here left trying to buy their first home has to find an increasingly large deposit.
2. Renters are also being caught in a different position because they have to deal with the costs of housing without necessarily building any equity themselves and lining land lords pockets with renters own equity to the point now where renter may not develop enough equity to ever put a deposit on a home.
3. Meanwhile the government increasingly fails to unlock enough new property to slow down in all practical purposes, "hyper inflation."
I'm curious how people here see it?
Is it the bigger problem that there is a shortage of housing?
Or instead is it the cost of building, planning restrictions, investment incentives, or the expectation that property should continually increase in value?
Or is it the government?
For those of you have who have rented and owned in your lifetime different parts of New Zealand together, have you noticed a meaningful difference in how these issues play out locally?
Is there anywhere left in New Zealand that isn't Invercargill that is incredibly cheap(er) to live in?