Officials: Housing causes 'stark' inequality between young and oldDAVID WHITE/STUFF The Auckland housing crisis has boxed many Kiwis out of the market completely. The failing housing market is leading to stark inequality between the old and young and the rich and the poor, officials told the new Government as they took office. Officials over two of the briefings on housing do not mince words, blaming high house prices for widening inequality. Officials note that high house prices also cause a significant drag on productivity and increase government costs. They undermine the commercial viability of residential development, because developers and their financiers can have less confidence of recouping their investment," officials note.

Source: Stuff December 07, 2017 01:47 UTC