vcs
Well-known member
This is a bad problem in general, including Indian cities. You have to pay upto Rs. 50K/month as rent for a small apartment in Mumbai FFS.Sorry, by "protecting our house prices" I meant "desiring lower/reasonable house prices"
NZ house prices are high, and continue to grow higher. A lot of left-wing sentiment argues or subtly hints that immigration is the issue, and even the mainstream left is not far removed from the "keep New Zealand for New Zealanders" sentiment; it starts off with an attack on wealthy investors, but very much targets immigrants too, as obviously they're a source of demand in a higher seller-friendly market.
The actual problems are a) lack of capital gains tax on property which makes it a much better investment than anything else and b) just general geographic trends with a low population density but sharp sharply growing urban areas such as Auckland that haven't had proper densification planning, creating vicious cycles of urban sprawl.
It should never be possible to earn a full-time income through renting out property alone.