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Not from NZ, but consider this: do you want to San Francisco-ize (multiply living costs, entrench a landlord caste & create weird incentives for local politics)
by zdkl 6y ago
Not from NZ, but consider this: do you want to San Francisco-ize (multiply living costs, entrench a landlord caste & create weird incentives for local politics) the place? Because lots of foreign money simply walking into a heretofore sedate local real estate and business ecosystem is how you do that.
Cf. Toronto, SF, Paris, London, Munich &c
- mkl 6y ago> Not from NZ [...] sedate local real estate Clearly! House prices here are very high already. See e.g. https://www.newshub.co.nz/home/money/2017/03/new-zealand-housing-most-unaffordable-in-the-world-the-economist.html https://www.newshub.co.nz/home/money/2017/03/new-zealand-hou..., https://www.stuff.co.nz/business/money/83750475/nz-tops-imfs-housing-unaffordability-list https://www.stuff.co.nz/business/money/83750475/nz-tops-imfs...
- Open-Sourcery 6y agoAnd I am a little hopeful (but doubtful) that might be starting to change. Massive numbers of houses have been consented to be built (especially in the last few years). But just building more probably won't be a permanent solution. https://www.stats.govt.nz/topics/housing https://www.stats.govt.nz/topics/housing https://www.hud.govt.nz/news-and-resources/statistics-and-research/housing-affordability-measure-ham/experimental-housing-affordability-index/ https://www.hud.govt.nz/news-and-resources/statistics-and-re... https://www.imf.org/external/research/housing/index.htm https://www.imf.org/external/research/housing/index.htm
- sorenbouma 6y agoAuckland already has one of the highest house price:median income ratios in the world.