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The home affordability challenge

Author

Listed:
  • Eaqub, Shamubeel

    (New Zealand Institute of Economic Research)

Abstract

New Zealand’s crippling home affordability rates cannot be fixed by a single solution such as changing immigration policy or urban planning rules, or imposing a capital gains tax or lending ratios. The report explains that New Zealand’s obsession with home ownership is one of the key reasons that it took so long for New Zealand’s economy to recover after the 2008 Global Financial Crisis. “Our reliance on future capital gains to pay for debt-funded spending caused a long hangover when households realised they needed to pay off the mortgage.”

Suggested Citation

  • Eaqub, Shamubeel, 2014. "The home affordability challenge," NZIER Working Paper 2014/4, New Zealand Institute of Economic Research.
    • Handle: RePEc:ris:nzierw:2014_004
    as

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    File URL: https://www.nzier.org.nz/publications/the-home-affordability-challenge-nzier-working-paper-20144
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    References listed on IDEAS

    as
    1. Lees, Kirdan, 2014. "Big city life? Challenges and trade-offs for Auckland city," NZIER Working Paper 2014/2, New Zealand Institute of Economic Research.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    New Zealand; housing policy; home ownership;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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