5 ms·
So the local sells to a foreign buyer and downsizes. That’s great for them. But their kids are now priced out of the market, and will never own a home but rent
by wepple 8y ago
So the local sells to a foreign buyer and downsizes. That’s great for them. But their kids are now priced out of the market, and will never own a home but rent from someone who lives 15h flight away.
- isostatic 8y agoSure. Life sucks doesn't it Fortunately there are many places that someone in NZ can buy a house. https://www.realestate.co.nz/3379275 https://www.realestate.co.nz/3379275 For example is proavly affordable on minimum wage of $32k, certainly with two incomes.
- wepple 8y agoI’m not sure the point you’re trying to make here. It’s a town of 1700 people, described by Wikipedia as a “gang town”. If your point is that it’s possible to buy a house in NZ, sure. But quality of life is totally a thing, no? And even then, your example requires a $40k deposit while earning $32k, a salary which doesn’t appear to have a whole lot left over and the end of the week.