Most New Zealanders aspire to own their own home and I would encourage all New Zealanders to save for and buy their own home, yet I know this will never happen. It never has happened and it never will happen, and this is not because of the current round of rapid house price increases.
People who aspire to own their own homes have always worked hard to achieve their goal, so this is not a new phenomenon. What is new is the raised expectations of people who want to live in the best areas, have more rooms, more space, 2 cars and internal 2 car garages and all the mod cons. And that’s just in the house. They still want overseas trips, better cars and non essentials such as Lotto, alcohol and cigarettes.
Recently there have been letters to the Editor, newspaper articles and comments from some politicians, saying that something should be done about rising house prices. “Young people squeezed out of buoyant housing market†was the heading of a media release from United Future Revenue spokesperson Gordon Copeland. (more...)
