For years, rising house prices were treated almost like a national success story.
Homeowners celebrated growing equity, investors piled in and the economy often benefited from the so called “wealth effect”.
But now, with New Zealand’s housing market in a prolonged downturn, the conversation is changing.
International outlet Bloomberg this week described New Zealand as once having one of the world’s biggest housing booms, and warned the country had become deeply reliant on ever rising home values.
We had plenty of responses from Stuff readers, who had much to say about the issue. You can see a selection of their responses below:
