Chuckling at this cynical but very apt line from Tony Alexander of the BNZ in his Weekly Overview today:
Sorry young folk, but much as you may feel the future belongs to you and your smartphone tapping ways, for now the wealth and the power belongs to us – the Baby Boomers. And you my dears form part of our retirement packages. So don’t expect any of the radical suggestions which I have thrown into this section of the Weekly Overview every now and then for solving the housing affordability crisis to actually gain traction.
Tony Alexander has previously listed many ways in which housing affordability could be addressed; many radical and most of which I understand he does not personally support. The problem could be addressed, but we seem to be frozen in the headlights of competing interests.
Check out http://www.tonyalexander.co.nz