John Key – I Think We Do Have a Problem With Housing

Written by Ben Ross - Talking Auckland

Any correction will hurt THE Middle Class

My friend from Twitter @FoxyLustyGrover commissioned this cartoon yesterday after the Prime Minister made what I would say was a dim-witted remark:

Foxy and John Key - Housing Source: @FoxyLustyGrover
Foxy and John Key – Housing
Source: @FoxyLustyGrover

I think when that the average and media house price in Auckland is between seven and eight times (if not more) than the average and median wage (making up the combined income of a household) either:

  1. Wages are too low

  2. Houses are over valued

Any correction into the Auckland housing market risks the Middle Class being thrown into negative equity which will be harmful to an economy (just ask the USA).

So the question is how do we get on top of this? Well admitting we have a situation would be a start. Having the Opposition also onside and not berating our Deputy Mayor would be another.

Winter is Coming….

2 thoughts on “John Key – I Think We Do Have a Problem With Housing”

Comments are closed.