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Everyone knows that the status quo with respect to housing is “unsustainable”. The Prime Minister now seems to recognise the need for fundamental change and the opposition has recently offered to work with the government to find non-partisan solutions. Read more
New Zealand’s housing is a national catastrophe. House prices have gone up by 37% nationally since 2015, according to ANZ. Read more
If land use and housing regulations prevent metropolitan areas from growing up or out as demand for housing increases, there is only one avenue of adjustment left. Prices increase. Read more
Imagine an optimistic and hard-working young couple hoping to raise a family in their own house. Thousands of them are flicking through property listings each weekend. Read more
In this Quick Take podcast, Oliver Hartwich unpacks his op-ed for the Australian Financial Review in which he argued that politicians on both sides of the Tasman aren’t thinking clearly about their respective housing crises. Oliver's article in the Australian Financial Review can be read here. Read more
One of the shortest jokes about economics goes like this: Teach a parrot to say supply and demand, and you have created an economist. But there is an even better joke: Teach a parrot to say demand and demand, and you have created a politician. Read more
Last Sunday, Wellington mayor Andy Foster joined a protest at a housing development at Shelly Bay. Wearing suit and tie, he pitched tents to support the occupation but then later told media he thought it was merely a “community gathering.” Regardless, Foster’s attendance at the protest was inescapably seen as going against his own council, which days earlier voted to support the $500 million project. Read more
In this episode of the Initiative’s Freely Speaking podcast, Matt Burgess, Eric Crampton and Oliver Hartwich trade hypotheses on why the New Zealand housing market is so broken with a few comparisons in Europe and how a change of incentives for local councils might be a big part of the solution. If you would like to listen to our latest podcasts, please subscribe to The New Zealand Initiative podcast on iTunes, Spotify or The Podcast App. Read more
On this Quick Take podcast, Oliver Hartwich explains his open letter to Mike Hosking. The radio host’s position that the government has nothing to do with fixing the housing crisis is unhelpful and misses that governments – over the last decade – are responsible for the skyrocketing prices. Read more
Oliver Hartwich wrote an open letter to Mike Hosking in the NZ Herald taking aim at some of the radio host’s recent comments on housing. They discuss their different point of views in Mike’s radio show on Newstalk ZB. Read more