Tuesday, October 14, 2014

Something special?

Is this John Key's "something special"?

New research from Massey University shows the affordability of homes nationwide has dropped by 11.4% over the past 12 months and is likely to decline even further by year's end.


Even worse news, The Home Affordability Report found the situation is expected to deteriorate, with mortgage rates set to rise. It's compounded by a decline in the national average wage in 10 of the 12 regions surveyed.

Unaffordable houses, declining wages, ordinary kiwis being squeezed and locked out of the kiwi dream. But landlords and property investors (including a large number of National MPs) are raking in the cash, and that's all National cares about.