What is Being Done About New Zealand's Housing Crisis?
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- Опубликовано: 17 окт 2024
- As Auckland becomes one of the world’s most unaffordable cities, New Zealand’s housing crisis does not reflect the country’s reputation for fairness and equality, nor the praise Jacinda Ahern received for her handling of the coronavirus.
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Despite international admiration for Prime Minister Jacinda Ardern, inequality is rife in New Zealand. "That’s kinda just rhetoric when the reality on the ground is incredibly unkind", says Ricardo Strap, who works for Auckland Action Against Poverty. He aims to help the homeless become home-owners, and there are an estimated 41,000 in need. If not on the streets, people who can't afford rocketing house prices are rammed into public housing or camping in garages. In a country where the landlord is king, many saw fit to raise rents ahead of the nationwide coronavirus rent freeze. "I've asked the government and prime minister to declare a state of emergency for Northland housing", says one Maori community leader.
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SBS Australia - Ref. 7827
While providing financial relief temporally aids the symptoms of the housing crisis little is done to counter it's cause.
The unregulated market, land lords encouraged to expand their portfolios, selling off land to foreign investors, refusal to implement taxs that would lessen the exploitable market.
The government promises to lift the living allowances never seeming to realize hat land lords will simply raise rent in response.
Even as a youth earning just above average wage, the dream of owning a house seems like an impossible dream.
Landlords are rip off in Auckland. Income is low for high skills. When covid 19 finishes, lots of people will go overseas for higher wages and cheaper houses. More consumer choices. Houses are way cheaper overseas
what a amazing man,we need more people to see his vision,he is bring people back to community and having a place to call home ,love this
Instead of vandalizing those old houses moved onto that new suburb in Kaitaia they should be helping rebuild them. After all, it''s for the benefit of the poorest in their communities. I wish them luck with getting the scheme up and going. It's a bold and brilliant idea.
Don't forget to mention that the housing crisis was started by the National government, who were more interested in selling off state assets and not putting in place measures that discourage overseas property speculators from buying up NZ houses rather than encouraging and help NZers buy their first home.
It was a Labour government that started selling off all of the state assets and ended the policy of full employment for New Zealanders.
Oh my, sad to see that people here are still believing there is such a thing as a GOOD government. There is no such thing.
The National cartel are pigs. John Key ran away to Hawaii without finishing his term when he lost the election.
Landlords are rip off in Auckland. Income is low for high skills. When covid 19 finishes, lots of people will go overseas for higher wages and cheaper houses. More consumer choices. Houses are way cheaper overseas
@@bradleycooper4421 because taxes much less in USA
I'm sure all the chinese investors are very concerned with this sad situation :(
WHO ARE YOU TRY TO KID THEY DONT CARE
These are my people I’ve been there before and have struggled to put food on the table for my family, but I’m so grateful to have a job that pays well and even through lockdown Kia kaha whanau NEVER forget where I came from and always give when I can to anyone in need
@@LoneWolf-ki5ee You don't understand sarcasm and irony, do you?
hahahaha. good joke
Foreign buyers are banned for ages
Tens of thousands of houses in Auckland owned by foreign investors are sitting vacant and not even being rented out. We call it land banking. I'm a renter and my family and I have moved house seven times over the past seven years due the landlords selling the house.
In saying this a lot of these people need to take responsibility and better life choices. Don't have so many kids, give up smoking, drinking, gambling and buying takeaways all the time and live within your means.
Thank you for Ricky for what you do!
I'm a kiwi and I live in a garage. Back in the day I could get a flat in Auckland easily. Now there are long lines on a 1 bed flat.
Great content! Subbed
Sounds like California
Landlords are rip off in Auckland. Income is low for high skills. When covid 19 finishes, lots of people will go overseas for higher wages and cheaper houses. More consumer choices. Houses are way cheaper overseas
They appear to have an obesity crisis as well
We have america to thank for that, they're the ones causing a global obesity crisis
Water is basically double the price of a large bottle of coke
@elitechrstn yeah cause coke and doritos are so expensive huh...
Like to see what you would do if rents were that high, you'd be doing whatever you could to house your family and feed your kids like these people are doing.
You're the only judgmental idiot around here.
A boil up is cheap and healthy y’all just picky with food
Healthy food is 5 times the price of unhealthy.
I think government should give an option to either rent to own a house or make a house cheap enough for first home buyers.
Landlords are rip off in Auckland. Income is low for high skills. When covid 19 finishes, lots of people will go overseas for higher wages and cheaper houses. More consumer choices. Houses are way cheaper overseas
Singapore sorted it out, anyone can if they are motivated and the political system allows.
@@bradleycooper4421 landlord fucked over by government , my parents had to sell two property to live because of labor socialist
The doco in the first half shows Polynesian families, people who have come or parents came from the islands Tonga, Samoa, Rarotonga. Not the life they expected I assume. Good to see the Maori community helping each other.
My daughter rents a five bedroom in Auckland, a student flat for $1150 per week. I’ll have you know it’s a dump with a Chinese owner that no ones met because he’s never in the country. He also owns half the block. He was able to buy in bulk under the National party
Pakeha used to do it first, its no difference when chinese do it.
@@aarohaa2008 yeah but the main difference is that when people who live in NZ do it the money goes back into our own economy and stimulates growth, rather than a chinese economy.
Not that I agree with anyone doing it, but there's definitely a difference.
At todays rate if your poorer your only going to get poorer at the current inflation rate.
It's irrelevant that the guy is Chinese. New Zealanders do exactly the same thing.
If thé owner is not being held accountable thén tenancy services not doing their work.
National under john key and now Collins left NZ in a hell of a mess dont forget that john key giving Canterbury finace $250million then mysteriously went missing john key stood down as prime minister didnt do nothing for Christchurch or our country now Labour has inherited all this chaos now Labour need to be totally focused breaking through the barriers of what National has left them and looking at helping the first home buyers cut through this bureaucratic system it needs a whole new system to help first home buyers
Agree, those criminals barely paid lip service to Christchurch's dire situation after the quake. Instead of implementing an immediate rent freeze Lard-arse Brownlee left it to the marketplace, & Gay Bob Parker & John Key spent most of their time posturing while sporting hi-vis vests and construction hats. I work 6 days a week but was homeless for 5 really bad years ....thanks National.
John keys bankster chords Merrill Lynch
Cohorts
I'm really grateful my school makes us participate on Model United Nations, it never crossed my mind New Zealand had this housing problems.
Landlords are rip off in Auckland. Income is low for high skills. When covid 19 finishes, lots of people will go overseas for higher wages and cheaper houses. More consumer choices. Houses are way cheaper overseas
it cracks me up how some people commenting cant see pass the last 5 years.
Moari are blaming everyone but there own downfall as a society and solitude bleed the government dry as an excuise instead of fixing there problem
If Ricky was in the UK, he'd be in the running for an OBE. Well done and keep up the awesome effort and results. Hopefully policy will improve to empower such community builders.
He is a star! What a wonderful big thinking (in the right way) man.
I love Ricky!
Not sure whose bun was bigger, the girl w the baby, the lady she was talking to, or the male worker sitting next to her, lol!
This is what it looks like to surrender to a foreign enemy. Say thanks to your political and business leaders, and start practicing your kowtow. Your lives will never be the same.
Left NZ a few years ago, the stories I hear from friends still there on the cost of living, from those already in homes and those trying to buy, are not the NZ I remember. There is no kindness from Jacinda. The gap between rich and poor is now a gaping chasm.
That what socialism policy does , my parents used to own 3 homes in same street 4 yrs ago
Where did you end up going to? I'm keen to see what other countries are like.
She's a WEF groomed puppet freemason
ITS THE PEOPLE WHO ARE PUT IN CHARGE OT THE HOUSING PORTFOLIO THEY DONT HAVE A DAMN CLUE WHAT THEY ARE DOING PERIOD
SHE BAILED AND LEFT US IN A CRISIS WHEN HOUSING SHORTAGE WAS SKY ROCKETING
BUT THERE ISA SOLUTION TO THIS IT WILL TAKE AN ACT OF PARLIAMENT TO PUSH IT THROUGH
TINY HOMES CHEAP AND AFFORDABLE I HAVE RESEARCHED THIS FOR THE PAST 4 YEARS CHANGE THE BYLAWS IN EVERY COUNCIL TO ALLOW THE BUILDING OF THESE HOMES ONLY TAKES A WEEK TO BUILD 2 LOFT BED ROOMS LAUNDRY ROOM WITH A SHOWER AND TOILEYTA KITCHEN AT THE OTHER END WITH A LOFT BEDROOM ABOVE LIVING ROOM IN THE CENTER TOTAL COST $8500,00 total with a rent to lease no deposit walk in and start paying rent to lease @$380.00 per month , home paid off in 3 to 4 years not 30 years and no bank financing 2% interest rate when they own the home they can move it or pay lease for the land it sits on what do you say reach out to me for more info A SIMPLE SOLUTION ????
THE LONGER WE LEAVE IT MATERIAL COSTS WILL GO UP ?????
I LIVE IN THE USA READY TO LAUNCH MY HOMELESS CENTER WHERE WE BUILD OUR OWN TINY HOMES WITH THE PARTICIPATION OF THE HOME OWNERS HELPING LIKE HABITAT FOR HUMANITY , RAUKAWA TRADE TRAINING FOR THE HOMELESS
A government drawing people into it's arms with welfare rather than economic opportunity is always going to end in societal problems.
The problem in New Zealand is the lack of welfare.
@@frobinson6876 No, the problem is overburden on welfare systems due to lack of economic opportunity. Probably a lot in part due to their socialist government's high tax and regulations on businesses. Just a thought.
@@Fr33zeBurn New Zealand? Is that not one the most business friendly government in history? What? They are super lax with burdens on businesses!
@@Fr33zeBurn you dont know a thing about other countries and stop pretwnd like you do. US problem is not world problem. Welfare system and tax rate are mostly federal and common in other countries so business owner dont migrate here and there like they do in US to avoid tax as there is no difference as long as you do business in the countries. Besides, welfare system works in other countries , especially the health sector. People dont have to pay high medical bills like in the US and so they dont complain about it. In fact, even transportation is subsidised in many countries but the american just to have travel by cars it seems while complaining alot. Same thing while they get sick. Complain about welfare and also medical bills too. You have a very lopsided way of life so your problem is very hard to understand for others too. The truth is, i guess, i am no expert, you have let the rich get away with too many tax break, even greater than small businesses in terms of percentage. They in turn have the resources to throw towards convincing the poor mass to vote against their own interest. Big business getting away with tax break is good, welfare is bad, high medical bills are good you just have insure your health, high health insurance payment is good, its your own health. High rate doesnt always turn into good service, the cjrcle keeps on turning.in fact, a country as rich as US should be able to create free health service for its citizens, free housing, having a rich government is useless if it doesnt use thw money for its peopLe
@@zodinthara7925
Welfare is bad as it produces a lazy and unproductive society.
Free anything doesn't exist as the money has to come from somewhere to fund it.
4 years on and still housing is out control. Winz need to up the housing allowance
When I think of New Zealand it’s not egalitarian, it’s just the worst of capitalism on an island.
accurate. its very foundations were set with colonial imperialism.
Greed, very greedy capitalism .
@@h4yl3y before that it was slavery and brain eating 🤣👏👏
@@MsMesem wrong social democracy bankrupting you
@@MsMesem
No. Try entitlement. Entitled social democracy.
way better off with labor than national if your renting.
same evil
Two wings of the same buzzard
Kiwi-build has tanked, zero flooding of affordable houses its all gone up 10-12% since. Plus kiwibuild is at around 500-600k.
wow thats bad my solution would blow the kiwi build out of the water and the developers who rape the public with high costs read my post above ??
Isn't new zealand now actually the worst country for homelessness in the OECD, ahead of america?
I dont think so, I believe that it is just worse in housing prices, not homeless population
How is it a solution to put the poorest people in debt. There has never been a greater need for inexpensive prefab housing. The government plan to build more homes continues to fuel prices. This should have begun 10 years ago year on year.
Let everyone in and your children will be homeless.
National sure hits people when they are down 😢
Foreign investment is a problem even in Australia but New Zealand have stopped this which is amazing and what we need
Wonderful mahi. Well done. I’m very impressed.😊
I had a very tough time a few years ago so i gave up smoking and drinking when i needed help, then you maybe able to buy food. its a step in the right direction.
Sounds just like uk...no lie...
Operates under same bis rules.banks love houses and creating money into existence. See "bank of Dave"and professor Richard Werner "today's source of money creation"
@@Michael-lg4wz taxes high in both countries , Australia worse
Our rent is 700 a week here in south auckland
We have the greedy landlords here
What about greedy banks, utility companies and governments?
Government greedy my parents retired had to sell two properties
A public house is a place that sells alcoholic beverages to the public.
Shameel was at one point advising NZ'ers to rent as a better option than owning. All his economic commentary is safe one sided substance less nonsense.
Correct it only works in fantasy land or perhaps in the post ww2 boom.
Haha
New Zealand is an extremely overrated place to live. You're paying astronomical prices for glorified huts masquerading as houses (most of which don't have adequate heating), it's at the arse end of the world, absolutely 0 goes on after dark, public transport is a joke and it's not an ideal place if you're career minded. Thinking of moving to NZ? It's a good idea if you want to retire or if you don't want to go far in life.
Some maps don't have NZ on the map, but then the map farted and NZ appeared.
One of the main causes there's a rental shortage is because the NZlabour government and NZnational government removed tax deductions for rental properties owners. There's no incentive to own them. Both have single handedly destroyed the New Zealand rental market through their voters myopic stupidity.
It also doesn't help that lazy govts opened the floodgates to poorly targeted mass immigration and poorly managed foreign investment henceforth keeping wages and salaries low.
Without a doubt it has been a deliberate attempt to reduce New Zealand's once envied economic situation to ruin via politics.
Self inflicted poverty.
J Ardern is pure evil but she has much of the nation hoodwinked. Inherent greed in the society is also a huge problem; get rich quick not long term investment over generations.
Landlords are rip off in Auckland. Income is low for high skills. When covid 19 finishes, lots of people will go overseas for higher wages and cheaper houses. More consumer choices. Houses are way cheaper overseas
@@bradleycooper4421 Hmmm....you are very optomistic.
@@MsMesem Jacinta will tear down middle class , most landlord are in middle class & investors
@@bradleycooper4421 USA alot cheaper to live because no federal sales tax & excise taxes in USA
8 People and nobody is working?
Well it could be worst. 100,000 Chinese millionaires moved to the west coast of Canada. Only 1 has a full time job. Which means only 1 person actually pays any income tax. Sales tax are not enough to fund the city. The city needs money, so they raise property taxes. The native residents can’t afford the higher property taxes. They have to sell their house and move. A new Chinese millionaire family swoops in and buys the property. None of them work... they live off their wealth. The city is running low on money... it raises property taxes again. Soon business can’t afford the higher property taxes. They start closing down. Workers are laid off. Income tax is lost. The city needs more money again... It’s a bad cycle.
Exactly
Leonard Carr Maori’s are native to New Zealand so they should get all those
the Maori's sailed to nz from Samoa, the only natives to nz are the birds
@@q-_-p.d-_-b Great comment.
Don't forget This situation would not have been this bad if National had not sold off state housing.
thank you for contributing to revealing the hidden side of the hegemonic narrative of the capitalist system around the world.
All economic systems have pros and cons.
Why can't NZ build apparemments instead of american style houses it would be much faster, economic and efficient.
That's the obvious solution. The problem is that New Zealanders and New Zealand policy-makers only think one way; they have no capacity to consider anything different from what they are used to.
There is another problem too: the government depends on the votes of property owners in order to stay in power. If it builds or provides the conditions for the building of large-scale housing, the inflated price of property in NZ will collapse. No government is prepared to deal with the aftermath of the crash that would ensue so they seek instead to prop up what has become one of the largest property bubbles in the world.
@@frobinson6876 This is inhuman. Yet they call NZ a social paradise. I think Appartments are the perfect solution. I mean those poor teenagers living in one room jesus 🤦🏻♂️🤦🏻♂️
You would think so but we are told all NZers (which of course includes people recently arrived without the culture) want individual houses with a garden, no matter how tiny. So best agricultural land and littoral becomes covered in endless suburban sprawl.
As a Swede born in 1966, I have nearly always taken an interest in NZ. Especially since its Labour government launched the neoliberal reforms, having won the 1984 election. The Swedish middle classes, some 80% of the population, seem defo more spoiled than their Kiwi peers. But poor and downtrodden Swedes, such as the long time unemployed, chronically ill and disabled, are left outside of the world-renowned Swedish welfare system. Moreover, the mass immigration of "refugees" from all over, has made it impossible finding anywhere to rent. Poor ethnic Swedes are treated as the lowest of the low, by both their government and their follow citizens. Stand stall Kiwis and be protective of NZ's borders.
nothing being done to fix it they are spending over 100 million a year on motels to house kiws as the immigrants took away housing kiws could be living in the best way to fix the housing shortage is lower the numbers of immigrants flooding in so housing roads hospitals can cope etc get kiws born here into housing jobs training the numbers need to go back to 2013 numbers of 10000 immigrants everyone needs to understand that mass immigrant numbers benefits the immigrants and the nz government but not real everyday kiws born here looking for a house to rent buy jobs use hospitals roads etc i think lower immigrant numbers back to 10000 a year tell we can catch up new zealand will keep moving it won't hurt it at all new zealand is becoming to over packed and the services don't match the numbers of people in this country it's that easy but the nz government are on some sugar fix they cant get off but need to
Landlords are rip off in Auckland. Income is low for high skills. When covid 19 finishes, lots of people will go overseas for higher wages and cheaper houses. More consumer choices. Houses are way cheaper overseas
Government ripoff landlords , my parents had to sell two investment property
Why they pay the rent pet week ? Why there isn't enough houses ? I'm just confused.
Wages and rent are traditionally paid on a weekly basis.
Vested interest prevent high density homes so the cities continue to expand outwards. This keeps all costs high. Building materials super expensive, council etc.
@@Michael-lg4wz Yeah
In Europe we have Appartment buildings everywhere. Most people live in appratments. Usualy single houses are found in the small villages not big cities.
World's best PM!!!!
Twit
Thanks for the laugh
I'm ashamed to be a kiwi
I'm going to live in my car next month can't afford the rent anymore.
And now Jacinda has quit her job.
In Europe it is arguably worse with the unrestricted influx of immigrants. Those countries have changed dramatically.
NZ population increased by 1 million in 10 years.....
Less kids is less problems. This should be drilled into the education of rich AND poor from kindergarten. Free birth control, free vasectomies, free abortions. Because festering social and living conditions are not more humane and 'having as many futureless humans as you would like' is a bad bad bad idea.
Abortion is available until 9 months, isn't that just lovely?
THEY LET THE DEVELOPERS IN AND THAT IS WHY THE HOUSES COST $300,000.00 GET RID OF THE DEVELOPERS AND SUBMIT THEM OUT TO CONTRACT THE HOUSES BEING BUILT ARE TOO BIG AND ARE OUT OF TOUCH
GET A HEW HOUSING MINISTERTHE ONE NOW DOESNT KNOW ANYTHING ABOUT CONTRACT LAW ??
No. High land values and zoning restrictions limit developers to building only housing with a decent chance of turning in a profit. Developers are not the problem. The government is.
6 children. WTF? This reminds of the short clips you'd see on playskool so simple minded.
Capitalism
Better than what Venezuela and North Korea have.
Left social democracy, my parents owned 3 homes in one street , Jacinda got in sold two properties to retire comfortably ... My Dad was a civil construction owner 1981
Sweden also
God damn inspections every 6 months I hate that but necessary your own home no constant intrusion on yr privacy.
Financial security needs preparation, planning and hard work. Stopping immigrant will surely help to lower the demand of houses, then price. But I cannot see how this will lift up kiwis competitiveness in today's world. Obesity is a serious problem there, isn't it?
Yes it is, plus alcoholism, drug addiction and smoking. Crime is rising because of poverty and many NZers are feeling hopeless.
@@maganalia2 years since I made last comment, things are just getting worse and worse. Wake up! We need overhauls in our varies systems.
6 kids despite meager resources... birth control badly needed.
move out of Auckland
problem solved
Honestly this is so true, Auckland is very expensive while other city’s are way more cheaper to live in. Some on the comments r targeting Chinese’s people, but kicking them out is really not gonna help the economy
@@annabanana4549
True, but that's if you're willing to to live with less services, opportunities and long commutes.
2 WEEKS THAT ALL ??
If you keep lifting benefits to the minimum wage then no one is going to work for the minimum wage which is exactly what's happening now. Kids should be taught in schools to prioritize their money on the wants and the needs of lifestyle choices . My girlfriend smokes e-smokes or whatever they're called she pays for sky TV and she has a wool full of PlayStation games she buys expensive shoes and clothes And is paying off a very flashy car. I love her to bits But then she comes around to my house and complains that she can't pay the rent and I'm not saying the rent's not high because it is I own my own house I don't have label clothing I don't have PlayStation and I don't smoke e-cigarettes And I knocked the PlayStation on the head when I found out the cheapest game you could buy was $50 for my son. I drive a car from the early '90s and she runs well. Nock a lot of those on the head and you'll save hundreds.RIP Ricky I love your work wish there were more like you
Wtffff 600$ per week i don't beleive it
They can get more if they have more children too. The more kids you have the bigger your benefit
It's about $1000 if 6 kids. A large proportion goes to rent though. So it's taxpayers funding landlords via the renters. You can use the WINZ calculator. My ex girlfriend got the same as me with two kids as me fulltime working in IT service.
There doesn't appear to be a shortage of food.
Mantap kawan☝👍
Jump on trillionaire tthugs my Gz it's were it's at
The interviewer is disingenuous and annoying. Get an honest normal person next time.
I'd love a free house
How about birth control? Hell no, mama needs the dol money for booze
government is doing its best but it,s power is secondary to the capitalist market which is the root of the housing problem etc.
In capitalism there must be several losers for each winner it just the way it works.
Then perhaps state capitalism is the solution.
@@romandecimus09 Maybe? or maybe? something that does not yet have a name , i think we already been juggling the same old failed ideas for to long.
Government is doing its best to destroy NZ; and now no jab no job...totalitarian control has arrived.
kia ora matua riki mana whenua ki muriwhenua
Jaciinta was the most evil liar, she is on a power trip and only interested in expanding her portfolio
People need to stop criticizing land lords too. They provide an essential service : housing/accommodation.
no they dont, they take half your paycheck simply because they have (usually inherited from daddy) enough money to buy property. they dont provide a valuable service to humanity, it's just a byproduct of how capitalism makes big things unaffordable for normal people.
farmers feed the world and get paid shit. factory workers make all our goods and get paid shit. landlords... legally own things? and collect lots of money from tenants? that's their only job?
@@fuckjoebiden 1) landlords take the risk in buying the property with a large deposit and take on a mortgage which is typically a 30 year term. This is a huge and long term commitment.
2) they do provide an essential service. It's not the states job to house the population and they dont either, even with the billions in tax they receive. The private sector provides the accommodation.
@@liamjohnson1219 1. thats risk, not work. and its something only the non-poor can do because you need something to borrow against.
2. they own an essential service. the builders provided it. if i sell you a car, did i provide you a car or did the factory workers? public housing has been done on a large scale in vienna, austria and its more affordable than the same quality private housing
@@fuckjoebiden are you a commie?? You seem to be talking like one.
@@liamjohnson1219 almost a commie. ideally I'd want complete equality but i wouldn't trust any country's current government to try that, especially mine(usa)
"effluent country" haha. I think we all see what the problem is.
just cause you can't understand a kiwi accent... the only one talking shit is you
It’s their accent dummy
Landlords are rip off in Auckland. Income is low for high skills. When covid 19 finishes, lots of people will go overseas for higher wages and cheaper houses. More consumer choices. Houses are way cheaper overseas
My dream country! Regardless
You dream country is Nigeria stay there so don't come ruin our country.
@@pietrojenkins6901 Loool OUR country 😂😂.. What a dickhead
@@tr3ggerhappyyy569 have you seen how rotten ,dysfunctional and totally ruined Nigeria is ? That's what you want in NZ?
@@pietrojenkins6901 petrol???? Your country????
this presenter/interviewer is cringy and contrived. Come back down to earth.
They have money for hair colour, tatts, kids, drugs, pokies, but not food and rent.
That sort of statement doesnt really cut it James. I'm Gen X, I work full time, & I'll never own another home. Anybody can end up homeless, it doesn't respect stereotypes
Yeah James, this statement is really just an ignorant opinion
@@emilydulcich9027 soo its untrue you say? or just ignorant?
@@FAMEROB Definitely both! What a generalisation to make. The housing market has such a high barrier of entry and the big cities where most opportunity is has extortionate rent prices. It's not statistically accurate to think that all people who can't afford homes are wasting their money on your list. I think that it overlooks and disregards the efforts of many trying to get into the market. Housing is the crisis in NZ not consumer choices, hence the government's initiatives on the housing crisis. There is a large issue there but you seem to be attributing the problem to the people and making assumptions on their spending habits.