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Why House Prices Will Continue Going Up

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  • McDuck
    replied
    If you look at the globe as a big pressurized steam system..

    With huge boilers in the US and China etc..



    And the central banks throwing piles of underpriced money into those boilers...

    and that pressure blowing itself off as house prices...



    And then the boiler pressure drops, for the first time in decades..



    "Ya canna mess with the laws of physics captain".

    Leave a comment:


  • Perry
    replied
    Here's why it might be fruitless to pin your hopes on a house price crash
    09 Nov 2021
    Originally posted by STUFFed
    Just how unsustainable are New Zealand house prices, really? The Reserve Bank warned (again) in its latest financial stability report that house prices were unsustainable, and highlighted the potential risk to first-home buyers.

    But – for now at least – every warning seems to be followed by another month of record-breaking house prices. Nationally, the Real Estate Institute house price index increased by more than 30 per cent year-on-year in September.

    Leave a comment:


  • donna
    replied
    Just need the borders open again.

    NZ is still an attractive place to live too and when National gets back in hopefully it will attract more investment in business.

    Including working with primary materials and turning them into secondary goods eg building supplies etc.

    cheers

    Donna

    Leave a comment:


  • Perry
    replied
    Yet another big yawn?

    Can't last forever? Some things can.

    Political lies don't 'last,' but will continue to be spouted until the end of time.

    House price crash warning: 'It's impossible to save people from their mistakes forever'
    4 Nov 2021

    Originally posted by STUFFed
    There will be a “day of reckoning” for people who have borrowed too much, or invested in things without understanding the risks involved, a top economist is warning.

    The Reserve Bank issued its latest financial stability report on Wednesday, which highlighted its concerns about “unsustainable” house prices. It said there was a heightened risk of correction in the market.

    “The further house prices rise above their sustainable level, the larger the realignment could be.” The Reserve Bank said the number of factors that pointed to a drop in house prices was growing.

    Leave a comment:


  • Perry
    replied
    House prices rise in all regions, and mostly at a quicker pace, Questionable Value finds
    11 Oct 2021

    Originally posted by STUFFed
    House prices are continuing to climb, with the average price paid for a home nationwide reaching $977,456 in the three months to the end of September, according to Quotable Value. That is up 3.6 per cent on the average price the previously quarter.
    Well, I never. Oh, hang on. Grant RobuSom said it was all going to implode next year. Yeah, right.

    Leave a comment:


  • donna
    replied
    Originally posted by Sanya View Post
    More bad news for the Government. The grand idea that first home buyers might use "The First Home Grant" to help purchase new builds is now looking increasingly improbable because building price escalations, in particular the skyrocketing cost of materials, will likely mean breaching maximum house price caps. Breaching caps means loss of the HomeStart grant.

    Accordingly, headlines now read that new builds are "absolutely not recommended" for first-home buyers.

    https://www.stuff.co.nz/life-style/h...rsthome-buyers
    Probably won’t be able to use KiwiSaver either - there’s a cap on the house price to use it and it really is out of touch with current prices.

    cheers
    Donna

    Leave a comment:


  • PC
    replied
    It's those nasty "speculators' again.
    More taxes, bans and red tape - that'll fix it.

    Leave a comment:


  • Perry
    replied
    Comrade commissar Cindy's socio-commie gummint does not like bad news. Not at all.

    Anything remotely like it will always be portrayed as someone else's fault for not being a suitably compliant collaborateur.

    Leave a comment:


  • Sanya
    replied
    More bad news for the Government. The grand idea that first home buyers might use "The First Home Grant" to help purchase new builds is now looking increasingly improbable because building price escalations, in particular the skyrocketing cost of materials, will likely mean breaching maximum house price caps. Breaching caps means loss of the HomeStart grant.

    Accordingly, headlines now read that new builds are "absolutely not recommended" for first-home buyers.

    https://www.stuff.co.nz/life-style/h...rsthome-buyers

    Leave a comment:


  • Perry
    replied
    Some bad news for the W'gton comrade commissariat with a hint of a prediction thrown in.

    Rents rocket to all-time high, record biggest annual increase with warning for after lockdown
    26/08/2021

    Market unlikely to return to high level of price growth after lockdown
    08/09/2021

    Doesn't matter how many times it happens or how many times they're reminded that they'll always get it wrong, the consequences of their socio-commie stupidity keep falling down all around them. "Quick, add more and more laws and regulations - that'll fix it!"
    Last edited by Perry; 08-09-2021, 08:47 PM.

    Leave a comment:


  • Perry
    replied
    House prices, Prime Minister Jacinda Ardern said, cannot keep increasing at the rate they are.
    I wonder if she'll ever have the necessary moral fibre to admit reality in some way?

    A bit like paraphrasing Grant RobUsome and his famous fudge line about being 'overly specific' (code-speak for lying), comrade commissar Cindy could say that she was 'underly specific' in that her statement didn't exclude the house price rate of increase getting greater?

    Leave a comment:


  • Perry
    replied
    And - as anyone with half a brain knows* - if new build costs increase, so does the price of the existing stock. And vica-versa.

    * Socio-commie W'gton woodenheads excluded.

    Leave a comment:


  • Sanya
    replied
    House prices reflect in part building and material costs. Lots of new builds happening at the moment (which is good) but many are being re-priced upwards to reflect increased costs. What are those increased costs? According to one recent article:

    Shortages of materials and skyrocketing costs, particularly in the last few months, meant the price of building or renovating homes would continue to increase. Local builders reported that brickwork costs had gone up 20 per cent in two months, cedar cladding rose 50 per cent in three months, steel was up 60 per cent in eight months, and everything that was imported was costing more.
    Source: https://www.stuff.co.nz/business/pro...ing-costs-soar

    Leave a comment:


  • PC
    replied
    Ha! Just wait till Labour and the Greens get re-elected for yet another 3 years of more failure.

    Leave a comment:


  • Perry
    replied
    Trade Me Property: 'This huge price growth simply cannot continue forever'
    23 Jul 2021

    Originally posted by STUFFed
    Wellington house prices have jumped by nearly one quarter in the year ending June, the largest increase on record, data from Trade Me Property Price Index shows.

    “June marks the fourth consecutive month, where we’ve seen property price growth of 20 per cent or more in Wellington. The fact is, the Wellington property market is now running hotter than any other market we’ve seen before, including Auckland,” said Trade Me Property sales director Gavin Lloyd.
    Notice the amazingly erudite prediction in the headline.

    Leave a comment:

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