OneChoice Housing Trends survey finds 68% of aspiring home buyers feel unable to keep up with rising prices, while 46% feel hopeless about ever owning; 25% delaying starting families
Not surprising. This was a common topic of conversation even before the recent house price jump - do we put off starting a family for 10 years until we're in our mid-30's, so we can save for a deposit and secure a mortgage, or do we rent indefinitely and try to start a family while living with flatmates? Or do we rent a place for ourselves and forgo saving as much for retirement? Or do we not have kids at all, so we can have a house and hopefully have it paid off by retirement age? Thought we were being a bit dramatic 10 years ago - we were just out of uni, what do we know about economics, really. But now we're another 50% further away from affordability
I'm not sure I've listened to a piece of journalism that resonates better. I'm on my way across the ditch shortly - I got a job offer 70% higher there, and there's no realistic path to home ownership in the next 5 years in New Zealand that doesn't include either huge falls in prices, or moving away from the kinds of jobs I'm good at and want to do. I didn't want to leave, but it's almost irresponsible not to at this point.
I'm wondering about the 'moral high ground', and who, as a society, we donate it to - who think they own it. Is it those with money and property? Seems to be.
A second and conflicting requirement is for on-going education. For the vast majority of people, how can the two co-exist?.
I'm having trouble finding the right words here. For all the blather about the knowledge economy, as a country we don't believe in knowledge. We charge young people through the nose for it, wave them off at the airport, and go back home to trim the hedges. It's sad.
As a 'young renter' (is 35 young for renting?) who's also an Australian living in NZ, I can say that its not just the price of renting that's the issue. Its how you're treated as a renter by landlords and agents in NZ. Contempt is the best way to describe how you're treated, contempt for renting their properties and paying them money. It was the same in Perth when I rented during the peak of the WA mining boom, so I suspect these feelings of contempt for renters go hand in hand with feeling powerful and smug in a constrained market. Its degrading and dehumanising to rent.
My father in law is one such rent seeker and the family arguments are getting more heated about property ownership. He retired in his late 40s to live off rental income and expects/demands that his wealth continues to increase, even if it means his children can't afford to own.
We've got what should be considered a good deposit, but there's no way we'll mortgage ourselves into mortgage serfdom to buy in NZ.
Also it's not all rosie over the Tasman either. I'm currently visiting family in Perth and the rental availability (& housing affordability in general) situation here is worse than during the 2010s mining boom, yet the population is leaving or becoming homeless. The homeless encampments here have exploded in the last two years. I'm not sure if landlords are back to holding their tenants in contempt here again as well, but it wouldn't surprise me if they were. Power is a dangerous drug.
Why haven't these numbers translated into real political action on housing affordability? Does it come down to low voter turnout among young people, and if so is boosting turnout the key to meaningful action on the housing crisis?
Bernard's point about selfishness is key, mixed with the stab-me-in-the-eyes contradictory statements from well off boomers who blame the Government for causing problems those very same voters would never entertain the idea of actually voting to fix.
My in-laws and parents, case in point. "Hate Jacinda, look what she's doing the economy. Ruined for the next generation."
However, mentions of CGT, density increase, investment in infrastructure, grants or the potential closing of any gap which may erode their ballooning on-paper wealth and warrant another couple of percentage points added to their tax bill is met with similar disdain. The problems must be fixed but at no expense to me, please. May I have my cake and eat it too.
I don’t know if I count as young at 36. But my husband and I have accepted that we will never own a house. Being a writer and teacher aide plus the cost of living plus everything else means it’s not possible. We are incredibly lucky though because we rent from family so we don’t have to deal with a landlord. Renting is Hell if you have to deal with a landlord. The places we lived in before were full of black mould and miserable. Without family I don’t know where we would be.
“Older men living in Taranaki without children were found to have the best wellbeing.” Simple explanation- able to surf 7 days/week. A nag free existence. Queue enraged feminists…..
The Young Renters are not wrong.
Better try Australia for a better chance of a good life. See ya, Kiwiland, I'll fly back for a few visits.
The social consequences of the housing situation are dire. How can any government ignore this?
Not surprising. This was a common topic of conversation even before the recent house price jump - do we put off starting a family for 10 years until we're in our mid-30's, so we can save for a deposit and secure a mortgage, or do we rent indefinitely and try to start a family while living with flatmates? Or do we rent a place for ourselves and forgo saving as much for retirement? Or do we not have kids at all, so we can have a house and hopefully have it paid off by retirement age? Thought we were being a bit dramatic 10 years ago - we were just out of uni, what do we know about economics, really. But now we're another 50% further away from affordability
I'm not sure I've listened to a piece of journalism that resonates better. I'm on my way across the ditch shortly - I got a job offer 70% higher there, and there's no realistic path to home ownership in the next 5 years in New Zealand that doesn't include either huge falls in prices, or moving away from the kinds of jobs I'm good at and want to do. I didn't want to leave, but it's almost irresponsible not to at this point.
I'm wondering about the 'moral high ground', and who, as a society, we donate it to - who think they own it. Is it those with money and property? Seems to be.
A second and conflicting requirement is for on-going education. For the vast majority of people, how can the two co-exist?.
I'm having trouble finding the right words here. For all the blather about the knowledge economy, as a country we don't believe in knowledge. We charge young people through the nose for it, wave them off at the airport, and go back home to trim the hedges. It's sad.
As a 'young renter' (is 35 young for renting?) who's also an Australian living in NZ, I can say that its not just the price of renting that's the issue. Its how you're treated as a renter by landlords and agents in NZ. Contempt is the best way to describe how you're treated, contempt for renting their properties and paying them money. It was the same in Perth when I rented during the peak of the WA mining boom, so I suspect these feelings of contempt for renters go hand in hand with feeling powerful and smug in a constrained market. Its degrading and dehumanising to rent.
My father in law is one such rent seeker and the family arguments are getting more heated about property ownership. He retired in his late 40s to live off rental income and expects/demands that his wealth continues to increase, even if it means his children can't afford to own.
We've got what should be considered a good deposit, but there's no way we'll mortgage ourselves into mortgage serfdom to buy in NZ.
Also it's not all rosie over the Tasman either. I'm currently visiting family in Perth and the rental availability (& housing affordability in general) situation here is worse than during the 2010s mining boom, yet the population is leaving or becoming homeless. The homeless encampments here have exploded in the last two years. I'm not sure if landlords are back to holding their tenants in contempt here again as well, but it wouldn't surprise me if they were. Power is a dangerous drug.
Why haven't these numbers translated into real political action on housing affordability? Does it come down to low voter turnout among young people, and if so is boosting turnout the key to meaningful action on the housing crisis?
Bernard's point about selfishness is key, mixed with the stab-me-in-the-eyes contradictory statements from well off boomers who blame the Government for causing problems those very same voters would never entertain the idea of actually voting to fix.
My in-laws and parents, case in point. "Hate Jacinda, look what she's doing the economy. Ruined for the next generation."
However, mentions of CGT, density increase, investment in infrastructure, grants or the potential closing of any gap which may erode their ballooning on-paper wealth and warrant another couple of percentage points added to their tax bill is met with similar disdain. The problems must be fixed but at no expense to me, please. May I have my cake and eat it too.
I don’t know if I count as young at 36. But my husband and I have accepted that we will never own a house. Being a writer and teacher aide plus the cost of living plus everything else means it’s not possible. We are incredibly lucky though because we rent from family so we don’t have to deal with a landlord. Renting is Hell if you have to deal with a landlord. The places we lived in before were full of black mould and miserable. Without family I don’t know where we would be.
“Older men living in Taranaki without children were found to have the best wellbeing.” Simple explanation- able to surf 7 days/week. A nag free existence. Queue enraged feminists…..