The "Perfect" Little Economy of New Zealand | Economics Explained

[@EconomicsExplained]

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[@fdr8343]

*Well, why don't they sell acorns?! If I can't eat them...*

[@fdr8343]

What time is it the underworld? *Get it bc Australia is upside-down?*

[@GSDgaming-g9s]

Don’t let the squirrels know or it will disappear

[@AndrewMellor-darkphoton]

hi

[@---capybara---]

Read this is “ancoms” for a hot minute lol

[@kelvin9496]

Downsides of NZ: it's a hella expensive to live; from food, to clothes, to homes. And base wage is relatively low. You have to be aware that we currently have a housing crisis where first homes are starting to become an impossibility for younger generations and this has driven many families out of flats and having to resort to living in their cars.

[@4evaavfc]

Sadly true.

[@Teslaharmonic]

so true..... the huge amount of kiwi's living in Oz will all tell you the same story.

[@dodgechallenger9929]

Thats because the primeminster is a sociallist

[@hrvsmart]

and there's basically nothing there for young people to do except work, then drink and do meth on the weekends

[@lexiecrewther7038]

How much does it cost to register a car in NZ vs other countries? Oops

[@austen855]

I work in construction in Australia and I work with A LOT of kiwis. They all say they’re in Australia because they can’t earn enough money to live working in New Zealand. I’ve met quite a few who still have family there and send money back. I’ve also met a lot of British and Irish people who have worked there and moved on to Australia because the wages are so poor and and the prices are so high. I haven’t looked at any graphs or anything but it really doesn’t seem like it’s that great for the average person.

[@sdprz7893]

It really isn’t, me and my partner moved to the UK for this reason.

[@CloningIsTooGoodForSheep]

Urban NZ housing costs eat into wages.

[@MaonNZ]

Wages are low and you have little protection as an employee.

[@afr0flava]

Yup. I moved to Sydney from Auckland in 2019. Despite Syd being one of the most expensive cities in the world, my cost of living is still lower than in Auckland and my income is higher for the same job.

[@austen855]

@@sdprz7893 Christ, how’s that working out for you? I’m English myself

[@rylandmalcolm3825]

Economics Explained: A good economy, nice and stable The comment section: I would hit you with my house if I had one

[@JonathanS995]

That's hitting the nail on the head man. If I had a house I'd use that instead of a hammer 🤷🏼‍♂️

[@CloudWalkBeta]

Coming from the UK, I feel you on that! Wages vs Housing prices seem to have gotten divorced a long time ago and it doesn't seem like there will be any answer in sight until some massive global crash happens.

[@captainpiggz6391]

He seems to ignore how hard it is to get a house or just live week to week in these economy’s. He’s getting too out of touch with the average man to see the true impacts of wealth inequality.

[@samanthacuckow51]

Nz is a nice place to live. The low wage economy and high cost of living is killing the middle class though. Unless you are rich or poor enough to qualify for government assistance you get reamed covering your week to week living expenses. Labour are doing nothing about it. Jacinda is good at talking but next to useless at doing.

[@mattyallen3396]

Please refer to our beloved PM as Seabiscuit

[@judis6224]

Agree Sam.

[@AK-pu2gm]

They are good at shutting everything down that's about it

[@deprimat666]

Nah social welfare kinda sucks tbh you're left with like $50 after rent usually and 1 meal is usually $15 to $20

[@mattyallen3396]

@@deprimat666 You not cooking?

[@LauraTeAhoWhite]

New Zealand: Our GDP has grown Also New Zealand: We can't afford a house

[@joeloneill7137]

Oof buying a house in Auckland is nearly impossible if your not rich lol

[@gouldney1]

"We" have always existed. Banks are more addicted to the property market than you, or me. They'll find a way to stitch you up. They didn't all survive for 200+ years turning away borrowers!

[@Harroi]

"Yay, our GDP has grown! What's that? Housing prices are wild causing poverty and influencing our massive suicide rate? We don't care, we have ours, stuff yours!"-The NZ gov

[@bonda_racing3579]

@Karl Marx or just place massive tariffs of foreign real estate agents especially Chinese ones and give their citizens first priority in the housing market.

[@bonda_racing3579]

@@魂-m8y could they issue contacts for developers so the supply can meet the current demand for housing. Am not sure if NZ have zoning laws but if they do they should be removed. Influence people towards the development market.

[@jackgibbons6013]

Im a kiwi, I remember my high school economics teacher saying the best financial decision we could make in our lives is to move to Australia.

[@daleinstone1453]

I did exactly that haha

[@EconomicsExplained]

It is a very common trend, but TBH I am glad to have you guys, you are all extremely chill. Basically you guys are what everybody else in the world thinks a chilled out Australian is.

[@gordonjohnson2497]

@@EconomicsExplained Maybe we are chill and theyre just dead

[@lm_b5080]

@@EconomicsExplained better rugby in NZ anyways

[@northwestkiwi7742]

@@EconomicsExplained "Kiwis are so laid-back, I once saw a guy yawn in the middle of his own car accident." - Chopper. (The comedian Chopper, not the other one.)

[@sugarhill9283]

the cost of living here is atrocious, i used to live in the famously expensive japan but almost everything back here in NZ is more expensive, especially day to day things like food

[@londonbeatz]

@@lindelof72 shut up and stop spamming troll

[@shadowxskills]

@@londonbeatz grow some perspective. you can't understand people's hardships while living off your daddy's wallet!

[@TomMathesonColes]

This hits home, I miss cheap rent and cheap beer in japan, not the 5 dollar apples though.

[@RecklessFables]

So what you're saying is, it is easy to stay thin?

[@AdamSmith-gs2dv]

You live on an island in the middle of nowhere, ships have to take a massive detour to get to New Zealand which adds on cost

[@andrew.l.5493]

The best economy isn't just measured by what you've learned in this video. For the majority of Kiwis, the country is horrifically expensive and that's primarily why so many leave. The lifestyle/cost of living from earnings is far better in many other countries.

[@alankenny21]

New Zealand are like my country, Ireland. Small country and a large portion of people leave every year. Last 2 years has slowed that down but this year and into next year. Gonna be a mass exodus. Ireland is so expensive, people can't buy houses. Lifestyle is ok but most move to Australia or America

[@scootergrant8683]

Horrific is definitely a relative term depending where you live but, it's definitely far from comfortable

[@Flanders7880]

Housing is a massive crisis in NZ. Most young NZers never imagine owning their own homes.

[@Kabodanki]

It's true in nearly every big cities

[@chrisstott3508]

You much choose, Auckland, or House. Having to choose between your desires is not a crisis, it's just life.

[@thequietkiwi]

@Pro Tengu Yes. Very sad how the state indoctrination centres aka public schools have taught NZ kids how to think.

[@Blender3DProjects]

I'm 26 and have a house in Auckland :)

[@MrHarumakiSensei]

@Pro Tengu He didn't conquer New Zealand. Must have been left off the map. :)

[@taylorburne1168]

New Zealand has almost no innovation in business and is relying on housing prices rising indefinitely to sustain our GDP. Our green image is a façade, as we rely heavily on replanting pine trees and buying carbon credits to offset our emissions. We have two major cities were the majority of jobs are available, and with it taking 60+ years for an average household to pay their mortgage our 50+ aged peoples make up a large sector of the workforce and stagnate growth opportunities. To even be considered for an entry level position you need a masters degree. New Zealand is a horrible place for social mobility as owning a house has become unachievable for the average person, rent is unbelievably high and living conditions are poor. The commodification of housing in New Zealand has had incredibly damaging consequences on it's people. it's obviously not the worst place in the world, but the reputation we have been receiving worldwide is not deserved.

[@leeloo6937]

Whilst I agree with much of this; you very rarely need a master's degree for an entry level position. Dependent on the sector ofcourse, but that can't be a blanket statement.

[@neversayneveragain3748]

Well said!! Can't agree more. NZ is absolutely overrated, isolated and depressing country indeed

[@reynoldchand66]

"No innovation in business" MATE you're joking 😂 go back to school

[@cheetaih]

@@neversayneveragain3748 Been living in New Zealand for nearly thirty years. Those who are progressive and hard-working already gone overseas.

[@wtfhellas]

Try Canada,,it's a colder NZ

[@Leo-vk6qm]

Huge chunk of New Zealanders live abroad (I'm one of them), some war torn countries have less diaspora. It's a beautiful country but not very liveable due to cost of living.

[@user-wickedflower]

I moved from the uk at 23yrs with 600 quid, im now 50 & own my own freehold farm in Northland after saving everything i earned for 30yrs on my own with absolutely no help from anybody. I have no family in NZ & have never won or inherited a cent. I dont owe anybody or any bank anything. It can be done anywhere if you want it bad enough. I did it so its entirely possible with no credentials or degrees.

[@RapidAssaultEuro]

A 23 year old trying to save today would have higher inflation on goods and rent, leaving them unable to save enough for a deposit. What worked in the 90's and early 2000's is no longer valid.

[@epictetus9766]

@@user-wickedflower how are you supposed to save lots today in NZ? Rent is sky high as is the cost of living.

[@HarshJain-it2bg]

Really, I was looking forward to move to NewZealand. As I have been getting good job offers from NZ companies. I now think of moving somewhere else. Could you suggest some other good place.

[@Albertouy]

@@epictetus9766 Live outside of Auckland and Wellington

[@Ffffjjjje]

I've watched another documentary called "Who owns NZ?" and it points to bad arrangement from the country's economists/ lawmakers. It concluded that by granting citizenship in exchange to investment in NZ economy, most wealthy immigrants chose to invest in low risk investment like property which in turn created the ripple effect on house price surge. While most high risk investments such as innovative startups and small businesses being ignored by these overseas investors, instead of creating more jobs with investing in those, it kind of did the opposite with house prices and rent being too pricey for the normal employees to afford. In my opinion, the NZ lawmakers or economists failed its people by inventing or must I say 'copy and paste' law from other immigrant hunting countries. I do not know if NZ authority is aware of this but it needs to be dealt with immediately. The 4 basic needs of living things (food, water, shelter, and clothes) are what NZ need to build a strong and steady foundation for its people to thrive. With shelter being a major issue in the center of NZ economy like Auckland, kiwis will continue to move to AUS and so does the immigrants in the long run. But the house price will never go down so NZ economists should work very hard to pick it up because families with children are literally living on the street in their car, imagine what that does to children psychology and development.

[@AndrewB21]

It's aware. It just doesn't care.

[@scootergrant8683]

The house price surge is not a one source problem necessarily. It's more a case of small decisions over an extended time period that seem innocent on their own but together caused the mess we're in.

[@marti-nz]

NZ is good and all, but the housing market is slowing strangling the younger generations.

[@davehall44]

Agreed, a single employed person won't break into the market without help. Dunedin which EE mentioned was very affordable 20 years ago to the point where some people have become multiple house owners. Low wages weren't an issue at one time. As if investment has been misdirected.

[@falsum2701]

This isn't unique to New Zealand. It's happening basically everywhere.

[@LukeSwasbrook]

Slowly?

[@fallenangel_899]

thats a world wide problem actually.... so nothing new here

[@TM-rk5dj]

I’m considering moving to AU for that very reason lol

[@UsurpersAndAssassins]

As much as I enjoyed your video, I really feel like you glossed over the massive disparity between asset owners and workers, the rapidly increasing homelessness, and how hard it is for a regular working class person to find employment. As much as I love my country, we have very significant problems.

[@MrSilverfish12]

he's a liberal Kenysian economist. To him NZ is perfect from the outside looking in. It's a very surface scratch look at NZ. Much like how the world sees us.

[@soraya_]

​@@MrSilverfish12 NZ hasn't been Keynesian since 1967. Current leadership may talk like those innovative politicians whose created full employment and put us in the top ten wealthiest nations but they crashed the economy in 1967 and then again in 1984 - we live under neoliberalism, privatisation and monopoly control with a bureaucratic class who crushes everything.

[@MrSilverfish12]

@@soraya_ I agree, I was merely pointing out how the world and EE see's us. He like's to point out the parts that do work but only brushes over many crucial downsides of this country. That's the thing about Keynsians, it works so long as you ignore reality.

[@soraya_]

​@Danny Archer Why? The left and right follow the same economic policy, they pursue finance over productivity, wall street over main street and sell the means of production offshore...a neat policy from the US colleges (& UK) our leaders and policymakers learnt from scholarships 'gifted' to them to manipulate them into following US economic policy. A 'liberal dictatorship' your Hayek preferred as he commented when visiting Pinochet’s Chile - Hayek's same policies inflicted on NZ starting in the 80's....

[@Luke-tt3dt]

As a foreigner living in NZ for longer than I'd originally planned to thanks to this global pandemic, I completely agree. Certainly loving my time here living in one of the safest countries in the world that has miraculously managed to dodge the worst of recent events. But I've also lost the rose-tinted view I used to have of this country. The level of inequality and homelessness is stark and shocking, almost every young person under 30 I've spoken to who doesn't have parents that are able or willing to help them out has just completely given up on the possibility of ever owning their own home. It's very rapidly degenerating into a neo-feudal society of two classes; the land owning gentry who live off the passive income on their investments, and the serfs working jobs that cover the over-inflated price of rent and groceries whilst leaving little left over to build any wealth themselves. I'm moving to Australia for the higher wages and lower rents as soon as I get the opportunity, saving as much money as I can there to eventually take back to the UK where I'll be able to afford a house somewhere that's not South East England

[@ChocolateMilkCultLeader]

EE letting everyone know how his is bigger while praising NZ. Classic brother behavior

[@EconomicsExplained]

gotta make sure they know their place

[@gordonjohnson2497]

New Zealand is our family. :)

[@InnuendoXP]

@@gordonjohnson2497 New Zealand is the little brother who went off to become a moderately successful gig musician & music producer but is back to couch-surfing at least once every 10 years. Australia is the big brother who got into real-estate and is very successful at the cost of being a bit of a greasy asshole about it.

[@gordonjohnson2497]

@@InnuendoXP Haha

[@gordonjohnson2497]

@@InnuendoXP we still enjoy catching up and getting trashed together though

[@flimsyjimnz]

14:50 "New Zealanders who migrate to Australia raise the IQ of both countries" -Rob Muldoon, PM '75-'84.

[@paulveenings6861]

I always thought it was David Lange that said that . True but .

[@laurencefraser]

... now if only He'd done that instead of going into politics...

[@TomorrowWeLive]

@@laurencefraser his policies were way better than the neoliberalisation/globalisation Labour brought in after him

[@chchwoman9960]

@@paulveenings6861 It was definitely Muldoon.

[@gerrymanda983]

Obviously a funny statement, but can you blame people moving to Aus to make a living wage? Seems like an intelligent choice.

[@hjohnson8596]

As a kiwi, this was very accurate, you hit the nail on the head with being priced out of our own homes. I had to move out of Auckland to buy and my offers are still getting beat by wealthy investors

[@hellalpha]

@Monarchy is the best! My parents were lucky to buy their property near Porirua in the early 2000s when things were a bit more affordable. There's no way we could do that now. Interestingly, in Brisbane, you can pick up a place 20 minutes from the CBD for just over 400K.

[@UditShah]

Moved to Wairarapa-Wellington 2 years ago. Started paying my debt and saving for a house. Now they are up by 35% compared to what it was 2 years ago.

[@UditShah]

@Henrich Muller this was mostly after Covid19. There was no immigration in last 1 year. It is a pure failure of labour govt. Aunty gotta do something about this.

[@judis6224]

Then you move to the south island where your not wanted.

[@AUniqueHandleName444]

@@judis6224 Even the South Island is crazy expensive. $600k for a crappy rural house in Nelson where the median household income is like $88k?

[@tiancheng5069]

It would be ideal to include child poverty, homeless rate and police efficiency.

[@chenoah7963]

well said

[@ronervine]

And high rate of suicide , depression alcoholism...

[@jaimie3818]

Drug abuse, domestic violence...

[@jay_wolf-476]

Yeap gotta add in those parts, Tautoko everything thats been said 👌

[@Master-ns7vp]

The mob problems

[@balconydemon4750]

the housing prices here are crazy! My house i purchased a couple years ago for 800k is now worth 1.2 Million. I guess its good for me but it will be hard for young people to get on the property ladder. Housing in NZ is like bitcoin.

[@ronervine]

Same here 190k 5 years ago 550k today, im in the South Island

[@ronervine]

@Henrich Muller Yeah my wife and I feel.pretty fortunate thats for sure Henrich. We don't earn a whole heap here in NZ So it all helps! :)

[@clov3rz]

As a young person, I've already accepted that realistically I will probably never be able to buy a house. With the amount of income myself and my peers spend on rent, it's nearly impossible to save enough in our lifetimes. I suppose it differs for each individual situation/region of course.

[@balconydemon4750]

@@clov3rz I think part of the problem is that there is alot of uncertainty with currency at the moment. Its hard to trust that paper money is of any value with bitocoin and other cryptocurrencies now in the mix and all the money printing. People are reluctant to give up solid assets and its risky to have assets in money form so things like houses will require alot of money to take off someones hands

[@ronervine]

@@clov3rz May I ask where you are from Chloe ?

[@mickey_jim2770]

NZ is great but has pretty poor infrastructure, even in the cities. In my suburb TePuna, apparently new home owners have to buy their own water tank because the local council hasn't upgraded the pump station. Roads aren't built until about a decade after they are needed, we don't really build for the future. Nice place tho

[@Battleneter]

NZ is only 5 million people, you can't expect NY infrastructure.

[@foreignparticle1320]

You're spot on. The whole history of NZ is riddled with short-term planning, meaning that infrastructure is always 2 steps behind (at best). Even with China pumping money into the country, so little seems to have changed in terms of facilities and livability.

[@Battleneter]

@@foreignparticle1320 That's a very " I have never lived outside of NZ " kind of view. Go and ask the average Californian to rate their public transport system.

[@foreignparticle1320]

@@Battleneter Well, having in fact lived outside of NZ for a number of years, I still espouse that particular view. And despite being glad I came back (especially prior to Covid), I believe there are cultural and political habits that keep it mired in second-rate livability. And frankly, the poor PT system of California or any other first world territory doesn't excuse the historically short-sighted, under-funded provision in NZ, and especially in Auckland (I freely admit I have never lived in any other part of NZ).

[@rebeccacooke2707]

@@foreignparticle1320 I have to say I agree somewhat. I'm from the UK (eesh, we have a lot of problems there, I know) but I live in NZ and find the infrastructure, or lack there of, to be a real challenge sometimes. It's impossible to live without a car (which I don't want to do for carbon footprint reasons) and the day to day expenses of the most basic produce and goods is phenomenal. For a few basic items in a supermarket it costs me the equivalent of a ritzy dinner and drinks out back in the UK. Housing is also very, very poor and yet very, very expensive. And I say that having come from a UK terrace house that is far from perfect.

[@BayLeafff]

Stoked. Been waiting for you to do a video on us for a while mate! Good watch, cheers for your hard work as usual!

[@EconomicsExplained]

Much appreciated! and oh my you have more views on one video than I have on my entire channel hahaha

[@BayLeafff]

@@EconomicsExplained Oh mate - my teenage self was quite the prolific thie- *hahem* purveyor and reuploader of... non original content shall we say haha! Here's to you turning that on its head soon man!

[@Youtubecensorsmesince2015]

Just had a Phone call with my pall Kim Jong-un, convinced him that New Zealand would be the best target to test his Nukes enjoy the money you get for bending over & letting societal Parasites raid your bat cave

[@Think_Inc]

@@KZbincensorsmesince2015 This is SOOO unrelated to this thread.

[@Youtubecensorsmesince2015]

@@Think_Inc Shatcoinomics explained is the best place to lecture young Shillings like you, Special thanks to our mates at Azzcorns for making this comment possible!

[@paulmitchell6485]

Yep, our economy is so good that 25% of our population moves overseas for a better life

[@leisiyox]

Is that true? Why is that?

[@davidjohnston9134]

We have very low paying jobs and very high living costs.

[@Steve-zs1ki]

@@davidjohnston9134 my simpletons explanation. Importing skilled labour increases supply keeping wages low and increasing demand for basics such as housing, Leading to ncreases in the cost of living whilst maintaining low wages. Further importing cheaper labour acts as a disincentive to local kids. Why would kids "invest" in expensive education/training to compete with cheaper imported labour?

[@curtino114]

@@leisiyox That is why they all end up in Australia

[@mikespearwood3914]

@@Steve-zs1ki This mass migration agenda is pushed on every western nation to push upwards pressure on housing/real estate, and downwards pressure on wages.

[@definitelyclickbait7144]

The three dislikes are Norwegians , In the words of EE -"Move aside Norway"

[@oditeomnes]

If you ever knew how many potential filming deals Norway lost to New Zealand and other landscape impressive countries because our government would tax the filmmakers out of their budget...

[@Kameeho]

Erhm, as a Norwegian, I can not dislike New Zealand. Why? Its the Upsidedown Norway. Fjords, check Beautiful nature, Check Strong worker protection, check A lot of sheep, check Delicious milk, check. Norwegians could easily settle in New Zealand and not realise their at the other side of the world. Other than no border to sweden to buy cheap alcohol.

[@cookiesnibbler7595]

@@Kameeho Jokes on them, there's no minimum age to drink here in NZ, you just need your parent's consent under 18.

[@paalsandmo9728]

@@Kameeho 🤣👍🇳🇴

[@johnnyxrcfc]

@@cookiesnibbler7595 a law you kiwi’s no doubt inherited from the thousands of Scotts that settled

[@Kevin_Pew]

You just offended every single Kiwi's by calling them "Australia'sLittleBrother"

[@stevebell5231]

Hahahaa na our rivalry with Australia ends with sports and jokes

[@Daywalker685]

The little brother is always the most expensive one...

[@Daywalker685]

@GrimReaperNZ that my friend is a fact

[@L3monsta]

kiwi here, I think it's an accurate description. NZ and Aus are like a brotherly relationship and NZ would obviously be the smaller one.

[@Vikingr4Jesus5919]

Nah man, so long as they realize All Blacks OWN Rugby, we're fine :P

[@tommierooney6145]

You forgot to mention insane housing bubble, absurd inflation, lack of financial education, lack of skilled workers, and everyone left to england and australia for higher income. Theres a huge gap between classes and farmers are a small % of population.

[@justintyme1171]

We have plenty of skilled workers, but govt would rather give the jobs to immigrants who will more or less do the work for peanuts

[@valcron-1000]

Absurd inflation? You guys need to start looking outside. How can you call a 1-4% absurd? Wanna see absurd inflation? Come to Argentina and see what's like living with +30%

[@tommierooney6145]

@@valcron-1000 Did I compare it to any other country? the video is about NZ, was talking about NZ, go play the "whos more poor and miserable game "with some one else.

[@theemperor-wh40k18]

@@tommierooney6145 2 percent inflation is normal and healthy for the economy.

[@almac9203]

@@tommierooney6145 2% inflation does not meet the definition of absurd. You obviously are clueless.

[@anubisgod23]

Unfortunately NZ has a massive issue with young new professionals. Its extremely hard to find a job in your field if you have less than 10 years experience

[@Peppermintwinter97]

@@lindelof72 I want to join

[@67hutch]

yea, I live in New Zealand and I agree. New Zealand isn’t all that great

[@anubisgod23]

@@67hutch i love NZ. I really want to move back. The only thing holding me back is the job market

[@scottmcqueen3964]

This is literally the biggest issue, you have to go overseas to gain experience in order to easily attain a job.

[@anubisgod23]

@@scottmcqueen3964 I hate it. I LOVE NZ. I would've stayed in a heart beat. I got my degree there and made a home. But I couldn't find a job out of University to save my life. I felt I had no choice and had to leave to the UK. I want to go back every day but I know the job market for someone my age and experience is just awful

[@hackerbrinelam5381]

EE: getting fired without significant payout Shows a guy falling of the bridge

[@EconomicsExplained]

it's a metaphore.

[@hackerbrinelam5381]

@@EconomicsExplained LoL

[@JoeVirella]

😆 😆 😆 thought the same!

[@randynovick7972]

The strangest thing I've learned about NZ is that for real estate there's no buyer's advocate. It's totally seller-focused. There's literally no market force to put downward pressure on price. Oh, and please keep Peter Thiel. We don't want him back.

[@lazydaisee3997]

Housing in NZ is possibly the least affordable in the world and the country has a steadily growing economic divide that is and will create massive social problems. The banking sector is controlled by Australia and much of the farming sector is owned by China but GDP ignores that (GDP is increasingly irrelevant in a global economy). There is a HUGE mountain of private debt through housing which strangles innovation and investment, and the means of servicing that debt is increasingly inadequate so the country is selling off the land under its feet....this may suffice for a generation or so but the plight of working class NZers is already becoming very apparent. And most young kiwis will struggle to have the standard of living their parents knew.

[@snigie1]

It had to happen, boomers saved nothing for retirement, without this they'd have been screwed.

[@lks5379]

Fully incorrect

[@judis6224]

NZ owned by other countries because of Muldoon,no clue how to run a country.

[@Ben-mt4zg]

@@lks5379 which specific part is incorrect?

[@SilviaLH7]

I agree. It feels worse than Shanghai. And The house quality is so bad 🥺

[@ssik9460]

I’m getting economic whiplash from going from Argentina’s dumpster fire to New Zealand

[@chikabestwaifu1539]

NPAT: $69,420 nice one dud

[@alejandrochalcoff2199]

As an Argentinian that’s been living in NZ for the last 14 years I can still feel that whiplash... It’s been an emotional roller coaster seeing both nations back to back on EE

[@pînnedbycryptoworld-i6z]

Agreed 👍

[@davidsteiner2955]

@Jason Chaves Crypto trading just like every other speculative investment is basically trading different crypto assets against each other to determine rise and fall and making returns .

[@jenniferadams3052]

recently been looking up crypto news but got nothing credible yet. Really wish to earn off of it

[@smitchered]

Stop looking at us. We don't exist. I should know, I live here. Nothing to see down here.

[@Julianna.Domina]

East Australia

[@fallenangel_899]

@@Julianna.Domina west New Zealand

[@leandersearle5094]

That's odd. I'm replying to comment that doesn't exist.

[@JS-jh4cy]

Wear a swimsuit

[@joeblow5178]

How quaint ! A little tiny Canada. 🤣😂

[@lesliecas2695]

I live in Wisconsin, a Midwestern state in the USA, that is heavily agricultural - lots of milk, corn and beans and a huge producer of ginger. Wisconsin population: 5,900,000 New Zealand: 5,000,000 Wisconsin GDP per Capita 2021: $61,000 US New Zealand GDP per capita 2021: $47,000 US Wisconsin average home price: $240,000 US New Zealand average home price: $1,200,000 NZ

[@jennycruz7313]

You can contact her with... 👇👇👇

[@jennycruz7313]

+1

[@jennycruz7313]

760

[@jennycruz7313]

589

[@jennycruz7313]

5430

[@kronos319]

EE: friendship ended with Norway. New Zealand is my new best friend

[@sudarshann.s5317]

after all new zealand is his brother

[@Julianna.Domina]

@@sudarshann.s5317 My brother and I were never really friends

[@fullmetaltheorist]

**Sad Norwegian noises**

[@Muritaipet]

One of our main exports is young professionals. One of our main imports are older, experienced professionals, who want a safe and secure place to have a family See what we did there?

[@s1.m511]

That just happens with small English speaking countries. Ireland and I think scotland are the same.

[@ivanvlasic988]

New Zealand imports cheap slave labour

[@petersmith2040]

Many young professionals have been returning home due to the global pandemic and NZ being Covid free.

[@heatherjay8802]

@@ivanvlasic988 on what evidence do you base this statement?

[@ivanvlasic988]

@@heatherjay8802plenty of articles and stories of migrants being exploited in nz media

[@houseis]

A lot of blue collar workers aren't employed but on contract so dont get any of those employee benefits you mentioned. Everything is expensive here, you have to work hard to survive it's not some relaxed take it easy and you can live in a big house. In Auckland you need to work your a off to afford a crappy little apartment because foreignors have forced all the house prices up

[@AndrewB21]

I remember how affordable housing was growing up in Auckland in the 80s to 90s. Then early-mid 2010s came and all of a sudden all the houses were nearly triple the price they were back then, without an equivalent increase in incomes. Poverty has gotten worse, and homeless people, something I never used to see, are a constant presence in the CBD. I don't get why so many people have such a raging hard-on for our country as it is right now. It's a lovely place, but it's much tougher to get by than it ever used to be in the past. But it's okay, cause people on the internet can tell you what reality is better than people in real life.

[@slozenger9000]

@@AndrewB21 Have you tried living somewhere else for comparison?

[@christodang]

​@@AndrewB21 To be fair I think those are generally trends worldwide, especially if you look at urban centers specifically. Affordability has pretty much risen in every major city and displaced many people (contributing to some of the homelessness issues)

[@stevecrockett4414]

@@AndrewB21 Yep ... housing was sort of affordable to the majority of NZers throughout the 50's, 60's and 70's ... most NZers then were middle class and/or blue collar workers. mind you ... Interest rates for mortgages were through the roof! I left NZ in the 80's and came back home in 2014. During that time, all rules for banks and lending institutions were eased, removed or otherwise blown away and there was a sudden increase in real estate "entrepreneurs" and other such bottom feeders. The middle class disapperared and there were a whole heap of parasites who preyed on the NZ population and made obscene amounts of money to the detriment of the general population. An influx of foreign buyers of housing and a trend towards land banking has completed the execution of the gentle and supposedly peaceful NZ way of life!

[@bigrathole]

@@slozenger9000 we don't settle just because other places suck. XD

[@calamitycanyon9173]

As a New Zealander, a lot of these things are miniscule to the downsides, but everyone else has mentioned and explained these things extensively, but I will add that there's also the issue that the most popular grocery stores in New Zealand, being New World and Packnsave, are owned or run by the same few people and companies, with their only real competition being Countdown, a store far less popular. Because of this, groceries are cheaper when exported internationally, because this monopoly means that the owners have little reason to lower price through competition, and I think that this is something that governments in general should fight, because it really is a threat to the free market.

[@Think_Inc]

Last time I was this early, Hong Kong was in the EE Leaderboard.

[@michaelvanberkum2844]

Hong kong perished

[@thecurrentmoment]

Hong Kong? You mean China? (joking)

[@onetwothree4148]

too soon.

[@abrahamicreligionsbowbefor3585]

Will be NZ too soon. Watch out for extremely popular communist leaders, especially when false flags empower them.

[@Think_Inc]

@@thecurrentmoment That’s more a fact than a joke.

[@tovsteh]

But like Australia, NZ's housing prices are through the roof as their government keeps selling off land to foreign investors and allowing their banking system to just rampantly generate mortgages from nothing and have the banks seize the investment where it can or just buy up the land. Is their economy really perfect for the average citizen?

[@constantinethecataphract5949]

As long as the usury based banking system exists no economy will ever be perfect for the average citizen. The only country that did that was draged into a world war by the bankers and lost

[@patmccall4647]

@@constantinethecataphract5949 is that the eastern Roman empire? Just kidding, but who are you referring to?

[@nicholas9898]

@@patmccall4647 pretty sure referring to ww1 Germany

[@houseis]

@@constantinethecataphract5949 average house price in my city is 1 million dollars and average wage is 35 thousand a year. Foreignors own nz not kiwis now

[@constantinethecataphract5949]

@@nicholas9898 both ww1 and ww2 tho ww1 was more the fault of Wilhelm's stupidity than the banks

[@Quickonomics]

The world: "To create wealth and prosperity, we must have the highest GDP." New Zealand: *laughs in frugality*

[@jeffb.140]

New Zealand: *laughs in one of the highest suicide rates*

[@fallenangel_899]

@@jeffb.140 Suicided rates had decreased from what i've heard and that's really good

[@bitwisedevs469]

@@fallenangel_899 but why is that high?

[@fallenangel_899]

@@bitwisedevs469 I'm not really sure myself.... It's been mostly young people and i've researched some saying it was because of either because of pregnancy's, poverty or family violence.

[@fallenangel_899]

@Fresh Turkey backwards as in?

[@malilo22519]

It's only perfect because the citizens have to pay a arm and a leg to live in NZ or should I say rent because let's be honest who's got 20-30% deposit on a house worth 1-2M and it's not even a 4 bedroom with a little patch of grass they call a lawn.....

[@honestlee3435]

@@OracleTarotBenji at least you know the truth.

[@1mol831]

The same cost is true for houses in metropolitan areas in Australia, basically it’s two relevant cities.

[@britainw8227]

I'm from NZ. Our economy is heading off a cliff at record speed due to a housing crisis and our Govt wont do anything about it! :)

[@bigcocknigel]

What do you mean? don’t your remember Jacinda said “that it’s the public’s fault that the housing crisis exists” not the governments

[@Harroi]

What a capitalist hellhole we live in :)

[@cheetaih]

@@bigcocknigel You really believe her? Don't forget she is a landlady.

[@beesplaining1882]

That's no different to most of Australia. Personal debt is off the chart here.

[@kiwibonsai2355]

@@bigcocknigel yip, those years John Key was in office selling us out to the highest bidders, how's your power bill?

[@SpencerHHO]

Nz can run a government surplus because they run a trade surplus and the banking sector has been allowed to print all the new money through credit which has contributed to their housing credit bubble.

[@thebeingdestroyerofworlds8690]

That doesn't sound sustainible

[@Julianna.Domina]

Trade surplus =/= budget surplus In any way.

[@darrennicol2442]

@@thebeingdestroyerofworlds8690 It isn't, but our finance minister doesn't agree

[@thebeingdestroyerofworlds8690]

@@darrennicol2442 I'm from Spain, and let me tell you, we had one of the worse crashes of 2008 because of exatly the same thing, only in 2019 had the economy recovered

[@nem447]

As an immigrant to NZL who's been all over the world, I can say without bias that it's a close as you can get to a developed world civilized paradise. The one giant elephant in the room is the cost of housing!

[@neversayneveragain3748]

Paradise???? Please...

[@MrCairncross]

@@allanlindsay72 Queensland

[@Vasious8128]

@@allanlindsay72 Well I suppose if you ignore the housing cost, living costs, children in poverty, the crime, meth, Oranga Tamariki, youth suicide rate, and so forth then anywhere can be a paradise

[@Vasious8128]

@@allanlindsay72 they will never be fixed or reduced if we just pretend they don't exist and it is a paradise.

[@Vasious8128]

@@allanlindsay72 Yup a paradise so long as you have all you luxury and never have to hear anything different. Makes me proud to be a kiwi

[@kahlschlag17]

Well I live in Wellington. Nice to hear this but I think New Zealand is on a fast moving downward spiral.

[@sam12345506]

Why's that?

[@nickbuckle646]

This guy is talking bollocks NZ is expensive, high cost of living. It's a nice place for sure but no better than plenty of other countries

[@laurencefraser]

I'm lead to believe that cost of living drops pretty noticeably if you get out of Auckland. Though it's still not exactly low. Still, there are a lot of places that are worse, many of which Shouldn't be, as well.

[@charger348]

This idiot doesn't know nothing about living in New Zealand. Don't believe it, it is expensive and has low wages and most young people are never going to own their own homes. A truly bollocks story.

[@kondwanimututa2302]

@@charger348 The problem with EE is he has a very Keynesian look on the economy. Unfortunately the government has no financial incentive to provide high quality services at a low cost. To me new Zealand is another country were the people would be much more wealthy but they aren't because their too paying for overly expensive public services. The only things the government does well is fighting wars and providing security.

[@AndrewB21]

With all due respect, how do you figure warring as being our forte when we have such a pitiful military, and it's only ever used for peacekeeping?

[@MrSilverfish12]

@@AndrewB21 he didn't say it was our forte. He was simply stating what government in general is good at. He wasn't talking about the NZ government with our incredibly overpowered airforce, consisting of one Hercules and a few helicopters and an outdated UAV that uhhhh tracks stuff lol

[@trustudy6083]

Its so great that I can't afford a house in my own neighbourhood! Yay! And everything is outsourced and a lot of ownership is overseas! Yay 2! Great economy :)

[@chenoah7963]

mmm yep true

[@TheECSH]

new zealand's real estate market is pretty much all saturated with chinese buyers so rich that they pay cash and outbid any local kiwi

[@JohnJohnson-qm3mr]

There is also the problem that development is restricted heavily by the RMA so supply can't be fixed

[@ShimmeringSword]

@Fresh Turkey but NZ is a liberal haven haha. More so than even many liberal US cities (I've lived in NZ and the US).

[@houseis]

100% the average kiwi will never afford a house in auckland because foreignors are pushing up the prices to ridiculous levels. The average house price is now 1 million dollars in auckland when average wage is 35k. How can someone possibly save a deposit and pay a mortgage on that? Wealth disparity will become a extreme problem here in a generation

[@moffattron9000]

They banned Foreign Buyers back when Labour went into coalition back in 2017. Since it turns out that Kiwis are still moving into cities because modern economic forces likes Cities; housing prices are still going up because people are still moving to cities. Meanwhile, New Zealand is still suffering through the same old housing error that you see in many modern Developed Economies. Housing stock is dramatically not growing at the rate that is needed to account for the growth in population. It's why Christchurch, the one city that is building far more housing stock than the rest of the country, now has a lower average price of housing than Dunedin. If someone told you that would be the case a decade ago, you would rightfully be laughed out of the room.

[@ShimmeringSword]

@Fresh Turkey well yeah. The idea of classical liberalism no longer applies to the political term liberal. Dumb as that is, it's time to move on from trying to reclaim that word.

[@hegantetamboktyanak6368]

My only regret was that I didn't leave as soon as I could leave school and move to Australia

[@nsoper19]

I imagine that having a large agricultural sector but in a developed economy is advantageous in terms of time preference. It's very difficult to do agriculture in a "get rich quick" strategy so real long term investment is needed which can provide stability.

[@clooclvloolv2217]

Agriculture in new zealand is a get rich quick scheme, and is at a huge risk with the worker shortage.

[@nsoper19]

@@clooclvloolv2217 but it takes at leat a year to get any returns right? And breeding stock takes time to mature. Compared to many hightech businesses, I expect the time preference is longer?

[@fallenangel_899]

Stability that will last.... for now.

[@humorocity4104]

In nz, agriculture is alot worse on the body. I'm not a farmer, but my dad was (I'm currently doing a degree in aviation). A big thing that isnt mentioned is that although the law says otherwise, alot of people in agriculture work 60-80h weeks. I've heard of 90 but never seen evidence. So yeah, you can get rich real quick. But it's tough (or it was for me). "Do the mahi, get the treats" is the saying

[@clooclvloolv2217]

@@nsoper19 not really, what's the rate of turn around of a tech startup? From day one to $$$. .. it takes about 3 months to see a lpace go from dirt to full scale orchid ready to be monetized by shares

[@angusielts7.00]

Having lived in NZ for 4.5 years in the noughties, I have these observations: Farming: I've never seen cows so densely farmed anywhere in the world. This has resulted in NZ having the most polluted rivers in the OECD (according to news stories while I was living there). There were also regular stories about disease and animal welfare issues. The dairy industry is what keeps NZ afloat, if any large country steps into that sector, NZ will have real problems. Housing: if you're not into dairy farming, you have to join the NZ property money-go-round. When I arrived in Auckland in 2006 I was shocked at how overpriced property was with the mean price being NZ$0.5M. By the time I left (in 2010) the mean price was NZ1M, or 9x household income. "Household income", not the breadwinners', the entire income of all family members. Property prices weren't only being fuelled by NZ speculators, they were mostly subject to speculation from China, Hong Kong, Taiwan and South Korea. The government kept talking about market intervention, but most MPs are in the game and like turkeys, won't vote for Christmas. It's a beautiful country that is not without problems. I'm surprised to hear that the net outflow of people to Australia continues.

[@cheetaih]

The net outflow of Kiwi to Australia has been an issue long before 2006.

[@definitelyclickbait7144]

Public message The guy in the comment section copy pasting the "personal manager message" is not EE. DO NOT CLICK ON IT OR BELIVE HIM, its a scam. Report it and move on.

[@EconomicsExplained]

Yes! Thanks for mentioning this! Guys, genuine EE comments (like the one you're reading now) will *always* have a checkmark verification on it.

[@SzymonPmc]

@@EconomicsExplained and the grey box cuz you are the uploader of the video

[@sapodilla25]

Just found this channel. As an Indian with native level English (just the wrong accent!) I found NZ's requirements for international aspirants seeking jobs very difficult to meet; too much paperwork, too much red tape. Even a regular tourist visa for NZ is a massive pain to obtain... The questions asked in my visa interview all made me think they really just don't like anyone visiting them! Now I understand why. I ended up migrating to and settling down in Australia with my partner. Thanks for this video!

[@judis6224]

Too many Indians in n NZ,one is getting moved on very shortly small Sasha,nor qualified any way,none of you are,but that's how things are in NZ.

[@RatelHBadger]

I wouldn't say it's a perfect economy...

[@mattyallen3396]

Far from it

[@wilsonov87]

Perfect for those who profit from it I guess

[@RatelHBadger]

@@wilsonov87 isn't that everywhere though

[@hansantonio110]

its perfect

[@RatelHBadger]

@@hansantonio110 perfectly in debt, with massive food shortages and crooked leaders, sure.

[@ahobbyist9520]

In other words: Everything is fine, except the cost of housing, that's pretty expensive, but OTHER than that, everything is fine.

[@WayToManyAssassins]

The cost of EVERYTHING is expensive.

[@samwatson5394]

Everything is expensive here and getting worse. I swear every week even if I buy the same things from the same store it goes up by $10. I earn a good wage and still struggle

[@WayToManyAssassins]

@@samwatson5394 My mums hairdressing bill went from $80 to $140!! Just like that no explanation. People charge what they want in this country because they know the people that CAN afford it will pay

[@alchapopapo]

Our food cost is also horrendous. We pay more for our own meat here than they do in aussie.. its worth more as an export,like most things. Petrol.... $2 + per litre.. not cheap. Utilities are also quite high. No country is perfect. It is what you make of it ♡

[@devluz]

NZ also has one of the worst suicide rates. So yes we have a great economy while we are homless and kill ourselves.

[@samwatson5394]

I live in New Zealand. Wages aren’t great. Even in the regions you can no longer afford to buy a house. There’s a lot of issues with 1080 poison and water being contaminated. It has a green image that is NOT true. We exploit workers from the neighbouring islands to do our fruit picking. We have a huge amount of people who live on the benefit and do nothing with their lives. I predict in 10 years, NZ will be just another country that had a lot of potential but just never hit it

[@1990Cornetto]

Haha I was on a working holiday visa and I can say that's true! Another sad issue is the meth. I had no idea it was that bad.

[@SkigBiggler]

Eh, not sure about the 1080 stuff. As best as I've been able to find there's never been actual contamination of a water supply, the biggest issue that has actually manifested itself is by-kill. There's no shortage of papers studying the effects of 1080, and there's a few decent meta-analyses of those papers that make reading through it easier, but from what I can tell DOC is trying to minimise it's use where it feels it can, and takes a lot of time carefully planning 1080 drops to avoid any issues. The paper I looked at acknowledged the issues of by-kill, but found that subsequent population growth of native birds negated that, but noted that the DOC needs to be more vigilant about tracking the effects on non-targeted animals. Overall I'd hardly state that 1080 is a reason to avoid NZ. The fruit picking stuff is it's own controversy, and something I'm not entirely knowledgeable about, so I won't commentate on it. As for living on the benefit, I'm not sure how that fits in. I've certainly never seen much about people sitting on their benefit without looking for a job, and given that National cut benefit spending significantly, and Labour has now made it mandatory to immediately start seeking a job if you're on an unemployment benefit it also doesn't seem like a particularly salient point. Interesting perspective though, you raise some interesting points. More notable social issues are gang violence in some of the larger cities, although I haven't heard much about that for a while, and housing costs.

[@HasFace]

I'm a policy analyst in New Zealand and I found this video pretty excruciating to watch. We're business friendly sure, but we fail in pretty much every area relative to our OECD peers. We have the highest level of homelessness in the OECD, and the highest rate of rheumatic fever, a third of children live in poverty, literacy and numeracy rates are low, while school dropout is also low, housing and living is the least affordable relative to income in the OECD, our emissions are set to double compared to 1990 levels at a time when most OECD countries will have reduced them, wealth and investment is highly concentrated - it's only easy to start a business if you inherit wealth, healthcare outcomes are mixed especially for Māori, imprisonment rates are amongst the highest in the developed world. Our economic performance is mediocre, and it's disingenuous to say that the other problems can be ignored when quality of living for most people is average at best and downright atrocious for a huge proportion of the population.

[@Battleneter]

Idiotic comments, homeless in NZ = state house, homeless in the USA = living on the street. The devil is in the detail not the stats.

[@HasFace]

@@Battleneter that's not strictly speaking true, my own city has over 200 rough sleepers, equivalent to 1/1000, and many US states have benefit levels higher than NZ. And that doesn't change that we are worse than the other oecd countries, not does it change the other stats, comparisons aren't made along one dimension

[@Battleneter]

what city is that?, lets do the math using actual data. 200 people is a tiny number you must be what Invercargill?

[@HasFace]

@@Battleneter the capital, Wellington, population of 220,000 you effete

[@Battleneter]

@@HasFace well the Wellington region is about 500K, upper Hutt Lower Hutt etc. So you are saying 200 people of about half a million residents live on the street, real huge problem ROLFL, ya numptie!

[@robertemily1645]

New Zealand have really taken a challenge to do things themselves. I love that fighting spirit of not giving up. Don't Give Up

[@lisasweeney8827]

Giving up is not the best option. I lost on trades but I never gave up. Now I make millions of dollars from bitcoin trading with an expert.

[@robertemily1645]

I heard forex and Bitcoin trading is the most profitable business with no country restrictions.

[@kelvinliu8941]

@@robertemily1645 You're very right. No country restrictions and no language barrier

[@kelvinliu8941]

Crypto currencies such as bitcoin are highly unpredictable, though it's been used as famous Investment vehicle.

[@lisasweeney8827]

@@kelvinliu8941 Almost everyone that earns from bitcoin trades with an expert. Nobody want to lose their hard earn money. Don't go into Bitcoin trade without an expert.

[@JumpOnJohn]

I assure you - the regular worker does not live *comfortably* in New Zealand these days

[@FastKiwiBoss]

Correct....

[@houseis]

You have to rat race like mad to afford a crappy little apartment in Auckland now

[@this_is_not_my_real_name]

Exactly what I was thinking

[@maximthefox]

Its almost like capital accumulation by private individuals completely disregards the working class

[@GenerationBright]

I literally work 6 days a week, live in the shittiest and cheapest residence I could find, and I'm saving less than 100 each month. I don't own a car either. I have no idea how others cope but I feel so strangled at the moment

[@tacitdionysus3220]

Which explains why 15% of their population live in Australia.

[@mtl-ss1538]

`That increases the IQ of both countries.!!! lol

[@tacitdionysus3220]

@@mtl-ss1538 Maybe they could count that as one of Jacinta's miracles in support of her canonisation (isn't she jist fentestik!)

[@andrewkerrigan5835]

New Zealand still uses Australia as a penal colony

[@seanhamilton4175]

It's around 5%

[@mikespearwood3914]

@@seanhamilton4175 Incorrect. Over 650,000: around 15% of NZ's citizens.

[@whtkngofc]

No job opportunities, expensive (especially housing), low living standards, young people are outcasted unless you're born into wealth. Glad I left for Australia where you are paid your worth, I don't know anyone I grew up with that's both doing well and still living in NZ, they all left. Everyone still there are lifelong renters, unable to get ahead.

[@barnaby4232]

Australia’s too reliant on natural resources and New Zealand doesn’t have low living standards, that’s ridiculous.

[@jeremiahduran7238]

@@barnaby4232 do you live in New Zealand.?

[@jeringatai3156]

@@barnaby4232 you clearly dont live in NZ. NZ houses arent worth the 800k theyre selling for. Theyre damp and mouldy regardless if they were built in 1990 or 2019. Water across the country is becoming dangerous to drink, rent is unaffordable for those on a LIVING WAGE, living cost is ridiculous.

[@barnaby4232]

@@jeremiahduran7238 no but i visited there if you think they’re low living standards then you’ve never left the country.

[@joedennehy386]

@@jeringatai3156 mate your just as bad as the op who reckons everyone here is a lifelong renter except of course the 65 odd % who own there own home. Hard work and sacrifice built this country, and opportunities are still available. If you sacrifice holidays, eating out, and flash clothes and cars for a while. Work hard and you can get ahead. Stop moaning and get on with it son

[@harisadu8998]

When you talk about fertilizers, you show footage of pesticides. I think New Zealand has fairly high pesticide use.

[@john0032]

Not as much as your country .....

[@itchyballbag5076]

We love pesticides here in New Zealand. We use 1080 by the ton, been virtually banned from everywhere else in the world and that's only one of them there are plenty more. Then there's the herbicides like round up and glycosphate we love the stuff. Japan even issued NZ with a warning last week for Glycosphate in our exported Honey. Don't believe everything about clean green NZ...it's all smoke and mirrors.

[@harisadu8998]

@@itchyballbag5076 By the way, there is nothing wrong with appropriate use of pesticides as per the instructions of the government and labels. It's a heavily regulated industry. Agriculture would be very difficult without pesticides but there will eventually be a decline in use as better methods are found. Nonetheless, they aren't as bad as they get a reputation for.

[@sally6102]

Hari Sadu , you think! No Pesticides are NOT high in NZ farming!

[@harisadu8998]

@@sally6102 I didn't say that there is overuse or that there are excessive pesticide residues. I just said that the use is widespread. Two different things.

[@vf00]

as a new zealander i was waiting for this video for

[@Xashe]

Thanks for your video, I found it very informative. As a New Zealander though I must say the housing situation is more complex than being caused only by immigrants coming here to buy homes. There's been a recent surge in house prices (or a constant increase depending on how long you've been watching) since last year due to returning citizens from overseas due to COVID, and low interest rates for home loans. The inability for many people to purchase homes is very real, and rents aren't getting much cheaper either.

[@samashby8203]

The biggest reason - not enough houses being built to satisfy demand (from Kiwis, let alone immigrants)

[@HasFace]

@@samashby8203 that's actually not strictly speaking true, there are over 190,000 empty but habitable houses as at the last census. It's less about the number of houses being built but rather the number of new + existing housing being supplied. Most new demand isn't to live in either, it's simply demand to own property and get that sweet sweet untaxed capital gains There is a challenge building new houses, but there is also no incentive to get tenants into empty properties, if your portfolio is paying the bills who cares if a few of them are empty - or at least argue my sociopathic landlord friends.

[@samashby8203]

@Economics Explained???

[@muppetb.lansing8374]

Our highly intelligent Reserve Bank Governor recently said that low interest rates only play a "bit part" in the housing crisis. Someone gave this idiot absolute power over setting interest rates in NZ. What a shambles

[@rcpihama7372]

Foreign investors are buying all our houses and farms! Renting a 3bedroom house costs $420 a week... and that's a cheap area

[@AUniqueHandleName444]

That honestly doesn't sound very expensive to me, as an American, if we're talking about an actual house.

[@Kuraskvids]

@@AUniqueHandleName444 Something like that in Auckland would be at least 650, more if you're going near the city centre. We've had a couple of rent-increase pauses so who knows though.

[@ozymandias8523]

@@AUniqueHandleName444 how someone working and studying(freshman) can afford that only in rent?

[@applezhang360]

@@AUniqueHandleName444 Plus I guess the conversion rates since $420 NZD = $296.5 USD

[@nicci337]

420 I wish!

[@tdb7992]

It's amazing that they've done so well, despite suffering from decades of brain drain with their young moving to Sydney or Melbourne.

[@ShimmeringSword]

I think a key bit is a lot of NZ's leading industries don't require a ton of brain. Such as the initially covered agriculture industry they're famous for. Or their film industry that can internally train new hires. Or general tourism. One aspect that I know frustrates them is Kiwis getting cheap state funded medical degrees, then moving to Aus or elsewhere to make more money.

[@Youtubecensorsmesince2015]

@@ShimmeringSword true that it requires bendig over & spreading ...... cheeks

[@francoisleroux3165]

Highly skilled immigration did it's thing.

[@Noridaii]

What tends to happen is that you go to Australia as a young professional then move back when you want a family

[@cheetaih]

@@ShimmeringSword You are all wrong. A lot of brains in New Zealand are immigrants these days from IT technicians, doctors, nurses, engineers, electricians and even bus and truck drivers. Many of them from England, Philippines, India and Pacific Islanders. I worked in various rest homes and observed most of the nurses, carers and rest home chefs are mostly from the Philippines or India.

[@justintomlinson9311]

I love nz but there’s a ton of hubris and false skewed info here.

[@dunnowy123]

I love when someone alleges something but doesn't even explain why they have alleged it, let alone provide evidence lol. You wouldn't cut it in the renowned legal system of New Zealand

[@markreynolds7890]

@@dunnowy123 guess th info isnt "false" but alot of info has been lft out, eg the finacial sector generates more income the primary sector and tourism, thnk its about 28% of gdp

[@justintomlinson9311]

@@dunnowy123 yeh it’s great life, I can say and do what I want. :-)

[@darrennicol2442]

@@dunnowy123 I gotta agree with James Blip, our legal system is laughable.

[@ns7023]

You legal system sucks? F this come to Mexico, or go to Argentina and ser for yourselves a real flawed legal system

[@bvagasky83]

Literally last night I was wondering when EE would do New Zealand!

[@harrywalsh4342]

Hey EE, appreciate your work One thing that's fairly unique to NZ which is pretty key to understanding the pros and cons is the difference in taxation NZ has some of the highest labour taxes and some of the lowest capital taxes, which contributes significantly to the housing boom that continues to progress even faster than before despite the closing of borders due to Covid. Immigration is only a small part of the picture with regards to that.

[@alanw2036]

Well said. The income taxes were much higher than I expected when I moved to NZ. The government makes income taxes look lower on paper by giving various income taxes different names so they don't have to show the true % income tax on IRD's website. For example, the government adds an extra 1.27% tax called ACC on top of income tax, and that way they can falsely claim income tax is lower by not including ACC in the income tax % on IRD's website. So immigrants are misled into thinking tax in NZ isn't so bad. People in NZ get so little back for such high tax.

[@johndoe5432]

My goal is actually to be working out in the New Zealand wine industry within two years. Glad to hear I seem to have a solid goal. That being said, the rampant Chinese land buy ups much like in Canada is worrying.

[@houseis]

My sister tried to buy a house with her lawyer husband for 2 years. They put in bids for 2.3 million etc and everytime chinese bid up to 3 million. One house went for 1 million above CV. Something like 20 houses they bid on and Every. Single. Time. Chinese won the auction. They own this country now

[@houseis]

3 million for a two bedroom bungalow in auckland. At this rate houses will cost average 10 million in my lifetime

[@MrDavidJMa]

China regards N Z and Australia as their clean green food bowl. China cannot feed itself.

[@paulsz6194]

SolidBanjo Gaming It can’t go up forever, eventually, there will be straw that will break the Camels back... I thought Jacinta Jacinda promised to cut immigration in order to cool down the housing market, and only allowing Singaporean’s & Aussies to buy/ invest in NZ real estate?

[@thelogician1934]

@@paulsz6194 He is a whining loser. Foreigners are banned to own houses for a few years and he still blame all his life problem on the 5% Chinese in NZ.

[@combrade-t]

New Zealand is basically just better Wales. It's got sheep, its got mountains, it's got a history of English Colonialism.

[@jacoblevenson7934]

Don't forget easier to spell names

[@dellhell8842]

You more obviously forgot rugby.

[@MrzorkV]

Its got Jacinda. She will give you a hug.

[@llorttaf]

@@MrzorkV Only if there's a camera near by haha.

[@joeblow5178]

Did part of Wales go missing maybe. A little island that was forgotten on many maps. ✔😁

[@MrVailla]

Yeah maybe so but the kiwis flock to Australia for the the much higher wages, I've seen the wages in New Zealand, sorry I can't work for that and it's not all so cheap over there either.

[@shanemartin2491]

The government fucks us for free though.

[@198746779838]

You obviously didnt watch the whole video. He mentions that exact thing bro.

[@funtimesatbeaverfalls]

Don't mention the 60,000 plus jobs lost in the manufacturing sector. I remember watching T.V. when they told John key and he looked like he was going to yawn.

[@user-lj6gk4lv9s]

Don't worry, we'll all just work for the govt and service sector, swap haircuts for parking fines, and borrow money to live and buy all of our goods from China.

[@jeringatai3156]

I rememer everytime there was seasonal work, John Key would brag about low unemployment 😑 likr bro, none of those jobs are permanent and all those people will be unemployed again in 3 months

[@stefan_4508]

At least John Key didn’t pretend to give af, unlike Jacinda

[@mattyallen3396]

That died in the 80's with Rogernomics

[@grizzy-thekiwi1144]

i always smile a little when my little nation is the topic of a video

[@kbrickell4732]

Yes my cousin and husband moved to OZ from NZ because of the pay gap and lower cost of living in OZ

[@alithinker]

Dear Economics Explained: please do an episode on the economy of the middle ages! I love you!!

[@benkirkby1931]

Agreed, New Zealand really is like Australia's little brother. Australia constantly mocks and belittles them and we steal their stuff (Phar Lap, Lamingtons, Russel Crowe), BUT we also chuck a massive tantrum whenever New Zealand beats us at something, like any older sibling would.

[@devinixm8235]

We Win These -Sun Tzu, The Art Of War

[@shotelco]

Here in Vegas at 11:20PM PT, were we typically get EE videos in the early AM. Was about to turn in for the night - Now I'm gonna be up for another 20 minutes. 😁

[@EconomicsExplained]

#KiwiSquad where y'at?

[@kjriwoutube]

Here

[@fallii6156]

Here

[@stacrafty]

What up

[@skytowertall]

Kia Ora bro

[@MrMonkeybat]

My family moved from England to NZ when I was a kid. I hated it.

[@RubyDoobieScoo]

Whingeing pom

[@Maximus-kc9zw]

Whingy pommy

[@shobhagiri2645]

I just wanted know if you are okay cause you havent posted in a while which is fine but just tell us if you are taking a break so that someone doesnt start to form crazy theories about you

[@scottgreen132]

I'm wondering this too, hope he is ok

[@NinjaNuggets21]

Suggestion: Economics of death and insurance. I haven’t seen one yet.

[@NinjaNuggets21]

@Karl Marx your right, communist 😅

[@fallenangel_899]

@Karl Marx they are american

[@NinjaNuggets21]

@Karl Marx I was just kidding 🤣 nevermind

[@benji-pj4dp]

I guess that's why they all move 9ver to Australia to work in the mines

[@tolotonga69]

Hhhh so right I'm in nz an everyone iknow are moving to aus for the money an we have more homeless people than Australia hhhh

[@benji-pj4dp]

You also have extremely expensive fuel prices and much lower wages

[@cheetaih]

@@benji-pj4dp Correct.

[@akrusi]

So true about the young professionals. Especially in the construction industry. Because of this, infrastructure projects take a long, long time to be completed. I remember going to Queenstown 3 years apart and a simple girder bridge was yet to be completed!

[@scootergrant8683]

Still seems like it with one particular road.

[@richadoemilia958]

The government isn't paying the retired enough due to the present situation affecting the economy... I think the best way to earn a living is engaging one self in an online investment.

[@morriselizabeth1484]

I'm a retired nurse for months now and I'm yet to figure out a plan while staying at home, talking about bitcoin I think that should be a great idea.

[@ericmorris4876]

Investing in assets is the code for having a successful financial life, investing with the right company or software would free you from modern financial slavery.

[@NicloasSmith]

bitcoin is at 56k currently now, I believe it will raise up before the end of the month.

[@waynebradley4444]

@@ericmorris4876 and that's why 80% of millionaires today are investors.

[@dimitrinatasha664]

I would want to invest in bitcoin but it's difficult to understand the market.

[@davidblake8612]

Hmmm well I'm a 4th generation NZer and a successful business owner here. This video is utter rubbish. We have all the same problems of any other first world country: Income inequality, asset bubbles, mass immigration (to keep up GDP), huge housing costs, increasing meth addiction, a feral underclass who can never be employed and so on. If you want to live in a converted garage with your family, whilst spending 1.5 hours each way in traffic to your very lowly paid job, then Auckland is for you!

[@golagiswatchingyou2966]

Don't forget the lockdowns, that's going to be an economic depression

[@andrewkerrigan5835]

With that kind of attitude, I doubt whether you're as successful as you claim

[@knpark2025]

Imagine living with half of Seoulites on a landmass of two South Koreas.

[@jacoblevenson7934]

Sounds awesome.

[@sam156nz]

A lot of NZ is uninhabitable, so slightly misleading. Same with Australia.

[@blairinferno4675]

@@sam156nz people make do in Aranui and South Auckland "nature finds a way".

[@milesman9865]

@@sam156nz where's uninhabitable? most of it is just farmland

[@sam156nz]

@@milesman9865 southern alps to name one? Pretty big area and range. Yes agree farmland, but people assume NZers are spread out across the country, when in reality over 80% live in a few cities.

[@ThreeRunHomer]

I don’t like acorns. They taste kind of chalky. Much better food for squirrels than humans.

[@aurtherbedo2500]

Hard

[@prettypointlessvideo]

Sand?

[@loganrichardson7870]

@@prettypointlessvideo I don’t like sand. It’s coarse and rough and irritating and it gets everywhere

[@memphiscook8162]

I was forced to move to Australia from New Zealand because I couldn't afford to even rent a inhabitable house with my wages

[@cletusj.johnson1850]

You should be grateful to come here instead of wasting your life in that inferior shithole

[@suehowie152]

@@cletusj.johnson1850 Wow..

[@cletusj.johnson1850]

@@suehowie152 and?

[@TheRealUSArmy]

@@cletusj.johnson1850 savage 😂

[@cletusj.johnson1850]

@@TheRealUSArmy ok

[@theimprovementsguy8871]

Low wages, high living costs.....

[@beesplaining1882]

Nailed it!

[@JamesSmith-eg2ln]

Our minimum wage is $20 an hour not really that low

[@beesplaining1882]

@@JamesSmith-eg2ln at 40 hrs a week that's just about $40k pa. Ok to start for a young person but its below the poverty line for a couple with dependants. The other parts of the problem though are the trend towards less hours and/or insecure employment and that real wages have not increased in about a decade.

[@JamesSmith-eg2ln]

@@beesplaining1882 it is just a minimum wage though most people are above it there was a housing crisis is the problem The government is trying very hard to make a living wage the minimum wage

[@beesplaining1882]

@@JamesSmith-eg2ln ok. Didn't know that. Thx.

[@moridain]

New Zealander here. Interesting video. I didn't even realize that running a government at a surplus was considered strange. When exactly did running your government at a loss become the norm? And yeah, I love this country.

[@vaibhav3946]

Most of the large countries never see a surplus budget ( excluding those who are crude oil exporters). It is not a loss because it gives a push to the economy and generates more jobs.

[@accessaryman]

you fail to mention the cost of living, very high rents , unaffordable house , as to the government allowing florigen investors to manipulate the housing markets , leaving over 150,00 houses empty in new zealand , as well as the government selling off the countries assets to make the budget look far better than it is, low wage incomes, and the government allowing corporates to import cheaper labor to further lower incomes of the kiwi workers, other wise you got it right new zealand is a wonderful country to live ,

[@FastKiwiBoss]

Yup, and more and more people living in the streets.....sad.

[@houseis]

@@juliusnigelmarturillas3629 are you sure? Rich foreignors just land bank property here now. They wont stop buying and the prices will keep going up. Especially now people think its some sort of utopia here because of covid. Average house price in my city is 1 million now and average wage is 35k a year

[@christopherjohnston6343]

@@juliusnigelmarturillas3629 average house prices increased by 19% last year. Definitely not a normal year but things have been getting out of hand. With covid and economy slow down the reserve bank lowered interest rates to try and stimulate things and it worked to supercharge housing speculation. Current government wont do anything because we are at a point where homeowners expect their "investment" to produce amazing returns. Shame for the 40% of the country currently renting and getting locked out of housing (and their lucrative passive income generation)

[@this_is_not_my_real_name]

Yup. Even in a managerial position I'm still earning less than when I worked in a cafe in Australia. Might be great for business people, but sucks for the average citizen. Maybe that's the reason us wage workers only do "the bare minimum to make their wage".

[@kingrichardthe1st]

@@juliusnigelmarturillas3629 no it 150k. The market is absolutely screwed

[@jeenallake1821]

*Poor mindset immediately sees a surplus as an opportunity for consumption.* *Rich mindset seeks to spend their time,* *Resources,* *And energy on work that continues to pay off long after the effort has been invested.*

[@samuelteddy.439]

That's true.

[@samuelteddy.439]

Anyone who is not investlng now is missing a tremendous opportunity.

[@josiegacia3397]

Yes. It's better to take risk and make sacrifices than to remain poor or settle for less..

[@josiegacia3397]

lnvestlng in financial_market is what all rich people do. This is not a living but to grow our portfolio.

[@patersondavis3858]

Can the real Constitution be restored? Probably not. Too many Americans depend on government money under programs the Constitution doesn't authorize, and money talks with an eloquence Shakespeare could only envy. Ignorant people don't understand The Federalist Papers, but they understand government checks with their names on them.

[@SuperNovaJinckUFO]

I find it hard to take the national leaderboard very seriously when most of the countries you've reviewed aren't up there. Perhaps do a video where you just ranking all the countries you've already talked about?

[@philbydoodle6199]

We’ve got lots of problems,but we like our little space,

[@TheWilsonChannel]

Me after watching the video on argentina: "Well, that video was a tough reminder of my home" New Zealand video: *keeps punching down argentina*

[@pretzelstick320]

I’ve talked to people from New Zealand and they all say that Australia has a much better economy for workers.

[@AlexR2648]

Last time I was this early, the "last time I was this early" trend didn't exist.

[@sudhanvakashyap297]

@@katienoel1137 shut up bot

[@Think_Inc]

The “Economics Explained” you see here is fake. So, don’t think that Australia’s favorite Koala is bad.

[@kiraanniston8144]

Things are happening that are unknown to, you should be grateful wherever you find yourself.

[@lesleyruth4513]

With the right opportunities and hard work you can survive wherever you find yourself.

[@charlesferdinand724]

In life don't present themselves on your own terms with respect to your personal convince. They emerge according to the dictates of time and you will have to make radical adjustments to be able to benefit from them. He that regardeth the cloud will not reap.

[@user-iz6jp5gn5q]

Blame your self for not taking opportunities that came your way to change your life.

[@user-iz6jp5gn5q]

Life can be much more easier without complications when you do the right thing at the right time.

[@nellyamam5725]

people continuously doubt everything till they loss there life changing opportunities, just as many of us missed out on bitcoin

[@nobuk2097]

Don’t ever call us Australia’s little brother

[@swaritchauhan]

A cousin is reasonable xD

[@openyoureyes3113]

There’s a little sister Preferred 🤷‍♂️

[@Hadrianus01]

You're right. You're Australia's little sister.

[@kiwibonsai2355]

Australia is America's little brother, ya just gotta look at Sky news Australia and realise its just like Fox news right wing propaganda machine, full of racist hate pointing the finger the other way while the 1% take ya to the cleaners.

[@deshaunjackson8188]

Know your place kiwis