Reported on YahooXtra
The country's housing slowdown is becoming more obvious, according to the latest BNZ Markets Outlook.
Real Estate figures for August are likely to be out later this week, and the BNZ says they are crucial. If sales have continued to slow down; house prices stay static and days to sell come up around 30, the bank says a housing slowdown will be firmly underway.
It says the fact that the housing market is at long last starting to cool off would make many people a little edgy. It has the potential to take the steam out of the economy and expose many people who are in an over-leveraged position.
The BNZ says New Zealand's economy would seem to be on the cusp of a long-overdue rebalancing.
The country's housing slowdown is becoming more obvious, according to the latest BNZ Markets Outlook.
Real Estate figures for August are likely to be out later this week, and the BNZ says they are crucial. If sales have continued to slow down; house prices stay static and days to sell come up around 30, the bank says a housing slowdown will be firmly underway.
It says the fact that the housing market is at long last starting to cool off would make many people a little edgy. It has the potential to take the steam out of the economy and expose many people who are in an over-leveraged position.
The BNZ says New Zealand's economy would seem to be on the cusp of a long-overdue rebalancing.
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