The decline of home ownership has struck at the heart of the Kiwi dream – so perhaps it is time to fashion a new one.
House prices may boom or bust but the long-term trend is clear: for more New Zealanders than ever, home ownership is out of reach. Incomes simply have not kept pace with skyrocketing property prices. ‘Generation Rent’ calls into question priorities at the heart of New Zealand’s identity.
In this BWB Text, Shamubeel and Selena Eaqub investigate how we ended up here, and what can be done to ensure all New Zealanders – home owners and renters alike – live in affordable and secure housing.