New Zealanders love their houses and love investing in them. In fact, we borrow more money to invest in houses than we do to invest in business or agriculture combined. As Bernard Hickey tells it, “New Zealand doesn’t have an economy as such. It’s a housing market with a few other things tacked on.”
Why is it that we have such an unbalanced economy and how can we fix it? Here’s an interview with Green Party Finance Spokesperson Russel Norman on this and all the recent talk about a possible new tax on property.
Click to play (10:37 mins):