New Zealand cost of living crisis, Standard of living and economic outlook

This is more of a generalized hunch, but get the feeling the cost of living in New Zealand compared with other countries is becoming more pronounced. Many things can be sourced overseas for cheaper even accounting for GST and Shipping.

There’s been things happen recently that perhaps ideally should not have happened including to our infrastructure. Things like lengthy and large scale rail shutdowns in Auckland. Pot-holed roads that keep needing to be redone and new highways “Failing” shortly after being commissioned among several other observations.

Granted it’s not all bad and dare I say it, most things are still working well including much of our power generation and distribution also our internet access in urban centres is among the best in the world. That said it definitely feels like we’re slipping slowly backwards in other areas when compared to other developed nations.

The Housing affordability crisis is an irredeemable stain on the Government (both present and past). The Government deserves all the scorn and admonishment for their failure to tangibly act on this. I say this as admittedly a landlord myself driven to enter the “market” a few years ago prior to the Canterbury property boom by the relentless policies that continually favours property investment over honest productive work (which appears to be no longer given as much value in this country). Furthermore, my disappointment only increases as the sitting Labour party doubles down on the spin rather than coming cleaning and admitting there were aspects they could have done better and then ideally go on to pledge to do better given the enormous societal effects this situation has, combined with spiraling inequality.

Noticed a general decrease in civility around the place. The Gangs are often getting a free pass, while the ordinary citizen is increasingly pinged over an increasing array of minor infringements. Driving anywhere these days, it’s not uncommon to witness road-rage between other road users. Couples are increasingly at each other throats in public and people when you greet them are less likely to say Hello back. There overall feels like an increase of civic apathy and decline of civic pride while people increasingly put their heads into ground (towards mindless consumption of entertainment among other diversions) as opposed to taking an interest in civic engagement.

Current forecast is the present inflationary environment is far from over, Food prices I’m picking will continue to increase as retailers continue to blame supply chain issues and further pick that New Zealand will likely suffer more from any coming recession than other developed nations as a result. We will probably enter another period of a brain drain to Australia (if it isn’t well underway already) and elsewhere to other countries. I regard myself as fairly patriotic, but it would be a lie to pretend things in New Zealand are anywhere near perfect and could not be better than they currently are.

My current investment intentions are to focus back towards Australia and beyond, however my outlook is certainly not fixed and my views are most certainly subjected to change.

New Zealand cost of living crisis, Standard of living and economic outlook

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