Homeowners’ price qualms
New Zealand homes and the land they are on are now worth a staggering one trillion dollars.
Those who have a share in it are generally assumed to be pretty happy.
I can tell you now. Not all of them are.
Many homeowners don’t approve of house prices having soared so high, even though it has enriched them personally.
Their distaste that the median house in Auckland costs roughly ten times the median household income is because inflated property prices are interfering with the ordinary lives of the people they love, making them far harder than they need to be.
I can illustrate using examples from my personal sphere of acquaintance.
Don’t assume all homeowners like high prices
Many think in terms of ‘‘family’’ finance
Children are remaining financially dependent for longer
parents. That’s because the parents have had to lend them money, or give a bank a guarantee, just so they can buy a home.