Houses in NZ least affordable in world

A new study has found NZ now has the least affordable houses in the world, with the largest gap between earnings and .

Comparing median house prices to median , in NZ it takes 18 years and six months to pay for a home.

The low ranking is due to three factors.  After real wages have increased very slowly in the last few years. House prices have increased a lot, and mortgage are the developed world's highest (off memory).

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