The housing situation is one hot topic at the moment.
'Don't buy coffee and cars if you want a house'
7:00AM Tuesday April 24, 2007
By Anne Gibson
A leading property investor has questioned why people on above-average wages cannot afford to buy a home after a report predicted dramatically falling home-ownership rates.
Property Investors Federation vice-president Andrew King said people on $70,000 a year had to look at their other spending - on things like coffee and cars - if they thought they could not afford a house.
"It might not be the house that you want to live in long-term, but you could buy a $350,000 house in Te Atatu, Glenfield, Panmure or Pukekohe," he said.
"People should spend less money on coffee and brand new cars and overseas trips.
"It's up to them to save more. This is a culture of 'I want it now, I want everything and I deserve it'."
Yesterday, the Government floated the idea of property developers being forced to build low-cost homes in new estates to ease Auckland's housing shortage.
Housing Minister Chris Carter after two new reports revealed that New Zealand's most populous region faces a severe housing shortage and must accommodate growing numbers of people who may rent all their lives.
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Don?t blame the housing market .
Blame immigration .