Embrace falling home affordability, says NZIER

Thu, 17 Jul 2014

By Pattrick Smellie July 18 (BusinessDesk) - Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. "The fixation with home ownership is causing social inequity and despair," said Eaqub, releasing a new study on New Zealand's "crippling" home affordability problem. “People fear being locked out of a traditional route to financial security, as almost 70 p...

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