We should not regard the homeownership rate as the most important measure of a functioning housing market. Just because the ownership rate is falling does not tell us much on its own. Neither is a high ownership rate necessarily a positive. [...]
As New Zealand is looking ahead to a series of budget surpluses, it becomes imperative for the government to have an answer to those reflexes. And it has to be an attractive answer to stop the fiscal dogs from salivating. [...]
Each year, the global affordability problem is getting worse. This year was no exception. Demographia’s 2017 report is the most depressing read so far. [...]