Originally posted by The Thinker
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Or to put it another way, median house price divided by median household income (which is a UN & World Bank standard for housing affordability):
US 2015: 3.6
US 1980: 1.4
New York 2012: 5.2
Los Angeles & San Fran 2012: 6.8
NZ 2015: 5.2
NZ 1975: 2.8
Auckland (largest NZ city) 2016: 8.9
Basically new subdivisions and new houses here are being built flat-out, but the government is letting so many immigrants in that demand is swamping supply. Half the people in both India and China seem to want to move here. Most of my generation aren't going to be able to afford houses.
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