AUT University has, over the last few weeks, been running a series of short essays on housing-related issues, in their Briefing Papers series. There are now seven contributions from a range of different perspectives – from economics, to social housing and health issues. My contribution to the series is up today. In it I reprise (briefly) my story that persistently high house prices, especially in Auckland, are best seen as the result of policy blunders of successive governments: land use restrictions running head-on into high target rates of inwards non-citizen migration.
For regular readers there will be nothing new in the latest piece. For others, a fuller version of that story is here, and a complementary piece explaining why Reserve Bank investor finance restrictions are not a sensible or appropriate response to a problem of this nature is here.