It’s not just NZ that has booming house prices. In Hamilton, Ontario, house prices spiked by 3.8% in June from May, and by a mind-boggling 28.0% year-over-year. Now the Bank of Canada, with an eye on this exponential increase in house price inflation, is pulling back its radical monetary policies.
Interesting that in Canada the house price increases have been blamed on the radical policies of their central bank causing unprecedented low interest rates, whereas the spin from NZ’s socialist government is that property investors caused house prices to rise.
The first step towards solving a problem is to ascertain the facts. We won’t fix NZ’s housing affordability problems by inventing scapegoats. Yes having someone to blame might win you votes, but it won’t make housing any more affordable.
#assuredproperty #housing #rentals #propertyinvestment