Merry xmas.

[McDuck]

[donna]

^^ hope everyone is enjoying Christmas cheer and merriment.

Donna

[McDuck]

^^ hope everyone is enjoying Christmas cheer and merriment.

Donna

Thanks Donna.
Hope you had a jolly good time too.

Got to use my woodshop to make and paint some old fashioned wood toys.
Surprisingly, the little ones actually liked them.
Shock.

Yes, yes, I know, Scrooge Mc Duck is supposed to hate Xmas.
What can I say, I'm a reformed old fowl.

[exnzpat]

Speaking of Christmas (and that is its correct spelling), I received an email from an NZ real estate agent extolling the Christmas spirit with an annunciation that average home prices in NZ have jumped from $725,000 to $925,000 in the space of a single year. Tell me it ain't so... please.

Will the bubble finally burst?

[McDuck]

Speaking of Christmas (and that is its correct spelling), I received an email from an NZ real estate agent extolling the Christmas spirit with an annunciation that average home prices in NZ have jumped from $725,000 to $925,000 in the space of a single year. Tell me it ain't so... please.

Will the bubble finally burst?

And a late Merry Christmas to you too.
the
Yes it's true, there have been some odd price distortions on a theoretical dwelling item vs the NZD.

But on the ground here, it all looks quite different to what the figures would have you believe.

Developers have been paying silly money for old traditional family homes.
Then smashing those homes flat.
Swapping in el cheapo high density boxes.
Disrupting settled neighborhoods and not watching for clustering of undesirable social elements,
never mind the traffic and infrastructure disasters waiting to show themselves.

They can do this because they expect to be able to make a profit.
(By putting 6 small, battery hen, type units on that same land).
(And because housing density laws were altered to enable this behavior).

it's basically shrinkflation.

Due to the way prices are calculated, every family home in that vicinity, gets a seeming increase in value, even though those developer dollars are spread rather thinly as it is.

Also every central bank, and the RBNZ especially, have been plumping funny money into the economy, and it ended up inflating theoretical housing values, (and expectations), for the moment at least.

So there you have it, fake numbers upon fake numbers, all fueled by fake skills shortages, caused by.. well you know human nature.
But that's stuff to be sorted out after the holidays.

Ho ho ho.

God Jul.

[exnzpat]

And a late Merry Christmas to you too.
the
Yes it's true, there have been some odd price distortions on a theoretical dwelling item vs the NZD.

But on the ground here, it all looks quite different to what the figures would have you believe.

Developers have been paying silly money for old traditional family homes.
Then smashing those homes flat.
Swapping in el cheapo high density boxes.
Disrupting settled neighborhoods and not watching for clustering of undesirable social elements,
never mind the traffic and infrastructure disasters waiting to show themselves.

They can do this because they expect to be able to make a profit.
(By putting 6 small, battery hen, type units on that same land).
(And because housing density laws were altered to enable this behavior).

it's basically shrinkflation.

Due to the way prices are calculated, every family home in that vicinity, gets a seeming increase in value, even though those developer dollars are spread rather thinly as it is.

Also every central bank, and the RBNZ especially, have been plumping funny money into the economy, and it ended up inflating theoretical housing values, (and expectations), for the moment at least.

So there you have it, fake numbers upon fake numbers, all fueled by fake skills shortages, caused by.. well you know human nature.
But that's stuff to be sorted out after the holidays.

Ho ho ho.

God Jul.

Then I did well to get out when I did (2019). I'm surprised local councils allow this infill housing; they will suffer for it in the end, oh well, not my problem anymore.

What about property on the east coast, south of Hastings? I'm closing in on retirement and might consider something back in NZ, but on a beach somewhere.

[Frezzinghot]

And a late Merry Christmas to you too.
the
Yes it's true, there have been some odd price distortions on a theoretical dwelling item vs the NZD.

But on the ground here, it all looks quite different to what the figures would have you believe.

Developers have been paying silly money for old traditional family homes.
Then smashing those homes flat.
Swapping in el cheapo high density boxes.
Disrupting settled neighborhoods and not watching for clustering of undesirable social elements,
never mind the traffic and infrastructure disasters waiting to show themselves.

They can do this because they expect to be able to make a profit.
(By putting 6 small, battery hen, type units on that same land).
(And because housing density laws were altered to enable this behavior).

it's basically shrinkflation.

Due to the way prices are calculated, every family home in that vicinity, gets a seeming increase in value, even though those developer dollars are spread rather thinly as it is.

Also every central bank, and the RBNZ especially, have been plumping funny money into the economy, and it ended up inflating theoretical housing values, (and expectations), for the moment at least.

So there you have it, fake numbers upon fake numbers, all fueled by fake skills shortages, caused by.. well you know human nature.
But that's stuff to be sorted out after the holidays.

Ho ho ho.

God Jul.

Id say suburbs not impacted by high density infill housing will continue to rise in value as they are more desirable places to live than the ghettos that are being built now.

How the architects sleep at night is beyond me.