The High Cost of Expensive Housing (and How Auckland Fixed It)

Re:The High Cost of Expensive Housing (and How Auckland Fixe... by dan-robertson on Monday January 30, 2023 @05:24AM (#34577968)

Have the fundamentals of property ownership, tax, or landlording changed since the time when house prices were at a sensible price-to-income ratio? I can’t really tell what you’re trying to say with that clause.

[ Parent | on HN ]

Re:The High Cost of Expensive Housing (and How Auckland Fixe... by tuatoru on Tuesday January 31, 2023 @08:24AM (#34594719)

The fundamentals of property ownership have indeed changed. Back in the day (1970s?) low-income households were eligible for special low interest rate and low deposit mortgages from a government entity.

Tax laws have also changed considerably also since then to make legal vehicles like trusts very advantageous for owning property.

Finally, in the same era the central government and local governments were big landlords with the majority of the market between them.

[ Parent | on HN ]