Housing crisis even in new zealand. Are millennials doomed?

Turbonomic / R&D
multiverss

Go to company page Turbonomic R&D

multiverss
Jan 30 27 Comments

Seems like homes are a crisis issue all over the world for our generation. Why is this so severe now? Can anything be done to increase salaries or lower home prices? Even we have been priced out of so many markets in america. Sad tbh!

Housing crisis even in new zealand. Are millennials doomed?

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TOP 27 Comments
  • This comment was deleted by original commenter.

  • Because foreign buyers (ie Indians and Chinese) are stressing the markets. Too many foreign investors trying to buy and supply cannot keep up. New Zealand and Canada actually banned overseas buyers for this reason
    Jan 30 4
    • Investment Bank
      Glinda

      Investment Bank

      PRE
      HP
      Glinda
      Canada has not banned foreign buyers but certain locations, such as Vancouver, impose a foreign buyer tax. Unfortunately, it is too little too late
      Jan 30
    • Walmart
      trillers

      Go to company page Walmart

      trillers
      I’ve heard about Chinese buyers buying internationally because of the issues in their country related to owning a property but haven’t heard of Indian Ms doing the same. Are Indians also doing it at same scale as Chinese?
      Jan 30
  • "Doing what we are supposed to" is a scam. You are all sacrificing years and years of your life to make someone else richer.

    Don't do what you are supposed to. Go big or go bust. You won't get to buy a house anyway.
    Jan 30 0
  • New / Sales
    Wichita

    New Sales

    Wichita
    Definitely multiple factors here, but to answer the question "can anything be done", here's my take - the problem isn't wages to buy a house, the problem is centralization. In the past, our population used to be more spread out into towns of all sizes. But the last few decades have seen unprecedented corporate consolidation into massive global companies, and the population has centralized into a much smaller number of major Metros in order to work at those companies.

    It's only in those metros where the real housing crunch is. There are still plenty of houses in small and midsized towns across most nations. So the fix is to spread the population out again - maybe through remote work.

    Btw, here's a town in New Zealand that will almost give you a free house to move there: https://www.google.com/amp/s/www.businessinsider.com/a-new-zealand-town-offers-people-cheap-houses-and-land-to-move-there-2016-7%3famp
    Jan 30 0
  • Stripe / Eng
    suphoss

    Go to company page Stripe Eng

    suphoss
    Can you imagine being these two? “Honey, let’s go in the bedroom now, because _we’re supposed to have children_, don’t you know?”

    They’re automatons who think they’re supposed to be living some stereotype of what an adult is like. What a shameful waste of space.
    Jan 30 0