The government needs to smarten up and allow development, and fix housing laws.When boomers were buying homes at astronomical interest rates, home prices didn't rise as they have in the low interest environment of the past few years.
Many boomers had already retired and sold their homes before the steep rise in home prices.
We never considered our homes as investments, but liabilities that provided shelter. It was considerably less costly to rent shelter.
Our investments were pension contributions, CSBs, GICs, and for some financially astute boomers equities, often in the form of mutual funds.
Young people who are overextended on their mortgages have put themselves at great risk if interest rates rise precipitously, and I don't see any way for them to avoid the ensuing financial hardship that would create.
The problem is too big for the government to save everyone.
They caused this problem, the first step to fixing it is to stop causing it.
Some people are touting the NZ approach, of basically trying to get rid of government roadblocks to building housing.
Just think about that, the next big idea in fixing real estate is stopping government interference.
Also figure out how to raise interest rates << that's the hard one.