What is New Zealand property bubble?
The '''property bubble in New Zealand''' is a major national economic and [[social issue]]. Since the early 1990s, house prices in [[New Zealand]] have risen faster than incomes.<ref>{{cite web|url=http://www.interest.co.nz/news/44330/opinion-why-golden-oldies-are-wrong-housing-less-affordable-now-1987-and-1975-corrected|title=Opinion: Why the golden oldies are wrong: housing is less affordable now than in 1987 and 1975 (Corrected)|author=Bernard Hickey|date=2009-08-17|publisher=interest.co.nz}}</ref> It has put pressure on [[public housing]] providers as fewer households have access to housing on the private market. The property bubble has caused large impacts on inequality in New Zealand, which now has one of the highest homelessness rate in the [[OECD]]<ref>{{Cite web|url=https://www.reuters.com/article/us-newzealand-economy-budget/left-behind-why-boomtown-new-zealand-has-a-homelessness-crisis-idUSKCN1IL0UG|title=Left behind: why boomtown New Zealand has a homelessness crisis|last=Barrett|first=Jonathan|date=May 20, 2018|website=Reuters}}</ref> and a record-high waiting list for public housing.<ref>{{Cite web|url=https://www.stuff.co.nz/national/politics/115412063/public-housing-waitlist-at-new-high-with-12644-households-waiting-months-for-housing|title=Public housing waitlist at new high with 12,644 households waiting months for housing|last=Cooke|first=Henry|date=August 20, 2019|website=Stuff}}</ref> ==References== {{reflist}} {{stub}} [[Category:New Zealand]]