We may be in for a correction in house prices but it’ll take more than one price fall to fix the crisis – writes Shamubeel Eaqub.
Auckland’s housing crisis will not be fixed by the cycle.
The problems are structural.
Only a concerted and enduring political effort can be the solution.
The level is still very high.
Prices will have to fall a lot to restore some modicum of affordability – or stay at current levels for over 20 years for incomes to catch up.