Are You Better Off Renting or Paying a Mortgage?
As housing affordability is set to get worse many are now being left with no alternative but to rent even though homeownership is their preferred option.
Much like in Shanghai China, where house prices have skyrocketed and it now takes around 70% of the average income to afford a bank loan, New Zealanders are not alone in their struggle.
A government official in China commented he didn’t want house prices to tumble but would instead prefer to limit lending to slow the market down and return to sustainable growth.
Sound familiar?
New Zealanders and the Chinese prefer homeownership over renting all be it for different reasons, but where to from here? .............
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