That's the way it goes...as soon as our wages are raised, the cost of living/housing rises as well. But there has been a serious housing shortage (or rather, crisis) for years now, and we all knew it would happen because if you open up to immigration the people coming in to work all need accomodation, even if they don't decide to stay on as residents. But the govt didn't provide any new housing at all..it just somehow expected everyone to fit into what was already here...?!I was looking at some interesting statistics: The average family income in NZ is listed at $107,196. For the US, it is $79.900. The average home in NZ is listed at $406,974 (USD). For the US, it is listed at $293,349.
Looks like you all make pretty good money, but everything is more expensive.
Rtm
Anyone with a basic grasp of maths knows that that isn't going to work!
then what happened was one govt decided only rich people would be allowed in and they had to invest in land and property, and so what ended up happening was overseas people buying up land or landbanking, and they didn't even have to live here. Then THEY became landlords. Plus it was easy for them to buy because when their currency got converted they could afford a whole lot more than anyone in NZ could afford.