Sunday, November 10, 2019

Home ownership falls but barely

Over recent years the narrative amongst the media has been 'falling home ownership'. Today in Stuff Susan Edmonds writes:

"According to the 2018 census, only 64.5 per cent of New Zealanders own their own home, compared to nearly 74 per cent in the early 1990s."

Note the front page of Stuff  says an economist blames "greedy" boomers.

The rather more tempered headline reads, "Home ownership at lowest level in 70 years, economist says Baby Boomers to blame." I wonder if he actually used the word "greedy"?

In fact the rate is down by 0.3% since 2013 - a much smaller change then between previous census takes. From Stats NZ:

"By 2013, home ownership had fallen to 64.8 percent of households – the lowest rate since 1951 (when 61.5 percent of private dwellings were owned)."

It's possible the downward trend is arresting.

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