New Zealand house prices: The prosperity cost of New Zealand’s property obsession – Greg Smith

Opinion byGreg SmithNZ Herald·18 Aug, 2026 05:00 PM9 mins to readGreg Smith is an investment specialist at Generate.Record loss-making resales have challenged the national faith in property as a one-way bet.For many New Zealanders, their family home is their largest asset. That’s entirely understandable. Home ownership provides security, stability and, for many households, represents decades of hard work. But over time, we’ve allowed house prices to become a national scoreboard. When prices rise, we feel wealthier. When prices stall, headlines