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It's been going on in New Zealand for decades now. Median house price is now $590,000 USD. And the quality is abysmal. Insulation and double glazing are conside
by LAC-Tech 5y ago
It's been going on in New Zealand for decades now. Median house price is now $590,000 USD. And the quality is abysmal. Insulation and double glazing are considered opulent luxuries, most properties do not have them. A big proportion of them don't even have baths. They're closer to American barns than they are to American houses.
- mikedilger 5y agoThis is true for houses built more than 20 years ago. But houses built in the last 18 years or so almost all have insluation, baths, better joinery, and many with double glazing. We are also starting to see more ducted heat pumps, polished concrete floors, and architectural features like vaulted ceilings, but still playing catch-up with America. While the quality has improved, so has the price. What always mystifies me is why someone would buy one of these crappy >20 year old homes at $700,000 or more just because of it's location. I'd much rather live on a small farm with a brand new house at the same price.
- LAC-Tech 5y agoMost houses that people can afford are built more than 20 years ago though.