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New Zealand Property Bubble
The property bubble in New Zealand is a major national economic and social issue. Since the early 1990s, house prices in New Zealand have risen considerably faster than incomes, putting increasing pressure on public housing providers as fewer households have access to housing on the private market. The property bubble has produced significant impacts on inequality in New Zealand, which now has one of the highest homelessness rate in the OECD and a record-high waiting list for public housing. Government policies have attempted to address the crisis since 2013, but have produced limited impacts to reduce prices or increase the supply of affordable housing. However, prices started falling in 2022 in response to tightening of mortgage availability and supply increasing. Some areas saw drops as high as around 9% - albeit from very high prices. Background A house price bubble is defined by economist Joseph Stiglitz as a period of speculative purchases, where investors demonstrate wil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Money Supply And Inflation
New is an adjective referring to something recently made, discovered, or created. New or NEW may refer to: Music * New, singer of K-pop group The Boyz Albums and EPs * ''New'' (album), by Paul McCartney, 2013 * ''New'' (EP), by Regurgitator, 1995 Songs * "New" (Daya song), 2017 * "New" (Paul McCartney song), 2013 * "New" (No Doubt song), 1999 *"new", by Loona from '' Yves'', 2017 *"The New", by Interpol from ''Turn On the Bright Lights'', 2002 Acronyms * Net economic welfare, a proposed macroeconomic indicator * Net explosive weight, also known as net explosive quantity * Network of enlightened Women, a conservative university women's organization * Next Entertainment World, a South Korean film distribution company Identification codes * Nepal Bhasa language ISO 639 language code * New Century Financial Corporation (NYSE stock abbreviation) * Northeast Wrestling, a professional wrestling promotion in the northeastern United States Transport * New Orleans Lakefront A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Single-family Zoning
Single-family zoning is a type of planning restriction applied to certain residential zones in the United States and Canada in order to restrict development to only allow single-family detached homes. It disallows townhomes, duplexes, and multi-family housing (apartments) from being built on any plot of land with this zoning designation. It is a form of exclusionary zoning, and was created as a way to keep minorities out of white neighborhoods. It both increases the cost of housing units and decreases the supply. In many United States cities, 75% of land zoned for residential uses is zoned single-family. Recently, many cities across the nation have started looking at reforming their land-use regulations, particularly single-family zoning, in attempts to solve their housing shortages and reduce the racial inequities which arise from housing segregation. These upzoning efforts would not require that new housing types be built in a neighborhood, it merely allows for flexibility in o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Financial Crisis
Global means of or referring to a globe and may also refer to: Entertainment * ''Global'' (Paul van Dyk album), 2003 * ''Global'' (Bunji Garlin album), 2007 * ''Global'' (Humanoid album), 1989 * ''Global'' (Todd Rundgren album), 2015 * Bruno J. Global, a character in the anime series ''The Super Dimension Fortress Macross'' Companies and brands Television * Global Television Network, in Canada ** Global BC, on-air brand of CHAN-TV, a television station in Vancouver, British Columbia, Canada ** Global Okanagan, on-air brand of CHBC-TV, a television station in Kelowna, British Columbia, Canada ** Global Toronto, a television station in Toronto ** Global Edmonton ** Global Calgary ** Global Montreal ** Global Maritimes ** Canwest Global, former parent company of Global Television Network * Global TV (Venezuela), a regional channel in Venezuela Other industries * Global (cutlery), a Japanese brand * Global Aviation Holdings, the parent company of World Airways, Inc., and North A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Inequality
There are wide varieties of economic inequality, most notably income inequality measured using the distribution of income (the amount of money people are paid) and wealth inequality measured using the distribution of wealth (the amount of wealth people own). Besides economic inequality between countries or states, there are important types of economic inequality between different groups of people. Important types of economic measurements focus on wealth, income, and consumption. There are many methods for measuring economic inequality, the Gini coefficient being a widely used one. Another type of measure is the Inequality-adjusted Human Development Index, which is a statistic composite index that takes inequality into account. Important concepts of equality include equity, equality of outcome, and equality of opportunity. Whereas globalization has reduced global inequality (between nations), it has increased inequality within nations. Income inequality between nations peak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leaky Homes Crisis
The leaky homes crisis is an ongoing construction and legal crisis in New Zealand concerning timber-framed homes built from 1988 to 2004 that were not fully weather-tight. The problems often include the decay of timber framing which, in extreme cases, have made buildings structurally unsound. Some buildings have become unhealthy to live in due to moulds and spores developing within the damp timber framing. The repairs and replacement costs that may have been avoided were estimated in 2009 to be approximately NZ$11.3 billion. Factors The Building Act 1991, which became law in 1993, changed building controls from a prescriptive system to a more self-regulated regime. In addition, the Government dropped the apprentice training system for builders and the related building trades. Some developers and builders knowingly or carelessly constructed buildings with numerous faults and short-cuts. An architectural design trend towards Mediterranean-style houses with complex roofs, plastere ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Housing
State housing is a system of public housing in New Zealand, offering low-cost rental housing to residents on low to moderate incomes. Some 69,000 state houses are managed by Kāinga Ora – Homes and Communities, most of which are owned by the Crown. In excess of 31,000 former state houses exist, which are now privately owned after large-scale sell-offs during recent decades. Since 2014, state housing has been part of a wider social housing system, which also includes privately owned low-cost housing. An archetypal 1930s and 1940s state house is a detached two- or three-bedroom cottage-style house, with weatherboard or brick veneer cladding, a steep hipped tile roof, and multi-paned timber casement windows. Thousands of these houses were built across New Zealand as state housing, and as private housing after World War II, when the government started selling their drawings and plans in an attempt to hasten housing construction. These houses, also known as "ex-state houses" to di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Affordable Housing
Affordable housing is housing which is deemed affordable to those with a household income at or below the median as rated by the national government or a local government by a recognized housing affordability index. Most of the literature on affordable housing refers to mortgages and a number of forms that exist along a continuum – from emergency homeless shelters, to transitional housing, to non-market rental (also known as social or subsidized housing), to formal and informal rental, indigenous housing, and ending with affordable home ownership. Housing choice is a response to an extremely complex set of economic, social, and psychological impulses. For example, some households may choose to spend more on housing because they feel they can afford to, while others may not have a choice. Definition and measurement There are several means of defining and measuring affordable housing. The definition and measurement may change in different nations, cities, or for specific pol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resource Management Act
The Resource Management Act (RMA) passed in 1991 in New Zealand is a significant, and at times, controversial Act of Parliament. The RMA promotes the sustainable management of natural and physical resources such as land, air and water. New Zealand's Ministry for the Environment describes the RMA as New Zealand's principal legislation for environmental management. The RMA and the decisions made under it by district and regional councils and in courts affect both individuals and businesses in large numbers, and often in very tangible ways. The Act has variously been attacked for being ineffective in managing adverse environmental effects, or overly time-consuming and expensive and concerned with bureaucratic restrictions on legitimate economic activities. In February 2021, the Government confirmed that the RMA is to be replaced by three separate acts. These will be the Natural and Built Environment Bill (NBA), the Strategic Planning Bill (SPA), and the Climate Change Adapta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Investment
Real estate investing involves the purchase, management and sale or rental of real estate for profit. Someone who actively or passively invests in real estate is called a real estate entrepreneur or a real estate investor. Some investors actively develop, improve or renovate properties to make more money from them. History During the 1980s, real estate investment funds became increasingly involved in international real estate developed. This shift led to real estate becoming a global asset class. Investing in real estate in foreign countries often requires specialized knowledge of the real estate market in that country. As international real estate investment became increasingly common in the early 21st century, the availability and quality of information regarding international real estate markets increased. Real estate is one of the primary areas of investment in China, where an estimated 70% of household wealth is invested in real estate. Overview Types of real estate inv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statistics New Zealand
Statistics New Zealand ( mi, Tatauranga Aotearoa), branded as Stats NZ, is the public service department of New Zealand charged with the collection of statistics related to the economy, population and society of New Zealand. To this end, Stats NZ produces censuses and surveys. Organisation Statistics New Zealand employs people with a variety of skills, including statisticians, mathematicians, computer science specialists, accountants, economists, demographers, sociologists, geographers, social psychologists, and marketers. There are seven organisational subgroups each managed by a Deputy Government Statistician: * Macro-economic and Environment Statistics studies prices, national accounts, develops macro-economic statistics, does government and international accounts, and ANZSIC 06 implementation (facilitating changeover to new classification code developed jointly with Australian statistics officials.) * Social and Population Statistics studies population, social conditions, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Exchange
New Zealand's Exchange (), known commonly as the NZX, is the national stock exchange for New Zealand and a publicly owned company. NZX is the parent company of Smartshares, and Wealth Technologies. On 30 August 2020, the NZX had a total of 184 listed securities with a combined market value of 184.87 billion. The main trading board is typically open from 10am to 4:45pm. History NZX began life as a number of regional stock exchanges during the gold rush of the 1860s. The first brokers’ association was started in Dunedin in 1867, then in Otago in 1868, Auckland in 1872, Wellington in 1882. The Dunedin Brokers’ Association became a stock exchange in 1893, then Christchurch gained an exchange in 1900. Auckland, Christchurch, Dunedin, Thames and Wellington formed the Stock Association of New Zealand in 1915, joined by Taranaki in 1916, Invercargill in 1920 and Gisborne in 1922. The Stock Association of New Zealand set up a sub-committee to investigate setting up a national s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Black Monday (1987)
Black Monday (also known as Black Tuesday in some parts of the world due to timezone differences) was the global, severe and largely unexpected stock market crash on Monday, October 19, 1987. Worldwide losses were estimated at US$1.71 trillion. The severity of the crash sparked fears of extended economic instability or even a reprise of the Great Depression. Possible explanations for the initial fall in stock prices include a nervous fear that stocks were significantly overvalued and were certain to undergo a correction, persistent US trade and budget deficits, and rising interest rates. Another explanation for Black Monday comes from the decline of the dollar, followed by a lack of faith in governmental attempts to stop that decline. In February 1987 leading industrial countries had signed the Louvre Accord, hoping that monetary policy coordination would stabilize international money markets, but doubts about the viability of the accord created a crisis of confidence. The fa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
