The proper way to fix the housing crisis is to allow the population to decrease, or for people to …
… The proper way to fix the housing crisis is to allow the population to decrease, or for people to not live as long (which also increases house demand). However that causes structural problems to the economy (see Japan). Edit: that is tongue-in cheek. In New Zealand, one major problem is that property is a better investment than a business. I made more money by owning two properties than by owning a moderately successful business over the last few years. New Zealand lacks a capital gains tax if you own a home for more than ten years, so the taxation advantage of property is huge compared to investing in any business. Wealthy New Zealanders invest in multiple properties because our government sets the incentives for property, and our government relatively penalises business owners or investors.
Original discussionThe High Cost of Expensive Housing (and How Auckland Fixed It)126 source comments · at import