Originally Posted by
fungus pudding
The thing to consider is what was the cost of ownership - not the capital cost. The cost of borrowing has a huge influence. Sure, it takes longer to earn the price of a house - that's worldwide. But the price of the mortgage has not increase by the same multiple. If you go back far enough you could have had a free cave. And yes, immigration plays a part, but also keeps us afloat with workers.
Solve the problem of 32000 vacant houses in Auckland, and that sorts accommodation shortage out. Surely the owners of these properties realise that tenants are an effective way of keeping the burglars out. :t_up: