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okay, and I should've added "and given their different time constraints etc". Maybe the agent could've got a much better price if the vendor could've risked 3 weeks till unconditional and 6 weeks till settlement.
Of course I'm guessing, but that's my interpretation of the situation.
I assume Tucker's worked very hard to build up a network that lets him buy and sell like this, good on him.
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Originally posted by Commercial Dan View PostThen what about the 30%+ drop in property you predicted?
Gareth Morgan didn't actually say houses would drop 30% but he expected them to revert to trend and they were 30% above trend. He's using weasel words and claims the 5% drop so far is halfway to the 30% correction. When houses recover the 5% and surpass the 2007 peak, he'll be claiming a successful prediction I guess.
But, for all his faults, he's a right-winger and wealthy so we tolerate his opinions a bit like an old aunt or the royal family.
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Seems timely to drag this thread out
of the mists of time. The sentence
at the end of the first post certainly
has relevance, today, as we contem-
plate the downfall of many. We do
indeed live in interesting times, as
we watch Europe waver on the
edge of the precipice.
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Originally posted by Commercial Dan View PostNo too bad, though I now think interest rates will be low until 2016 at least!
Speed 1 = BRICS
Speed 2 = Non European West (incl NZ Aust USA Canada)
Speed 3 = Europe
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Originally posted by Commercial Dan View PostNo too bad, though I now think interest rates will be low until 2016 at least!
Unemployment will start to take off in NZ over the next 3-5 years, making house prices remain somewhat static, particularly in the suburbs worst hit by unemployment.
Wellington is stuffed - continual shrinkage of civil service removes the above average income house buyer from the market, keeping the property and rental market very soft.
Chch - who knows? - when the house building starts in earnest I guess house prices will quickly settle off the current peak, and rents will rapidly reduce. The current house shortage is really only in a couple of selected suburbs. Plenty of places available to rent a little further out of the centre.
Auckland will split into central and well connected regions continuing their increase in prices and rents, whereas the poorer areas will start to slide.
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Pop-up time!
Thread again exhumed for further critique
and comparison of predictions and facts
and the supporting evidence. (if any)
Original post
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He got this bit right:
-Property prices will remain flat for another 2-3 years, then take off as inflation kicks in, real prices might stay flat for a while but who cares when you are hedged by inflation and holding hard assets, I certainly don't!Squadly dinky do!
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Reading back through this thread is fascinating. Good prediction about the property prices but not sure about Japan's economy as I don't believe it is in any danger of a crash, however.www.PropertyMinder.co.nz
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