Originally posted by Gary Lin
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IMO most of the country would be fine (maybe except for Queenstown) should there be a correction as they aren't as exposed/over valued. Auckland is out of whack with the rest of the country. Maybe long term it is its own little South Pacific bubble but maybe it isn't. Some are enjoying the ride while it lasts and will do well, others will jump in too late and be burnt. However we are in uncharted waters this time round with so much easy money washing through the system but I do think that those that think the system is too big to fail may be surprised- inflation is at an all time low and pegged to go lower but 2 years ago the pundits were predicting it heading back to more normal levels. Which way will it head? My pick is lower but what if it goes the other way in the next few years? Then Auckland could be in for a very messy landing.
I too will be interested to see in the next 12 -18 months if it still is working in your favour, as I said before I do think you have been savvy enough into come out okay, others I'm not so sure about.
@ Freezinghot. If you enjoy it why give up entirely? For many the camaraderie of work helps keep them sane, cutting the cord entirely may have benefits but is not always the end all and be all. Some of us need/want the safety valve of another, guaranteed, income stream not being dependent on their next trade. Others thrive on the thrill of deal after deal and work/career doesn't satisfy them. Depends on which is more important to you and for each of us it is an individual answer. Personally, I intend to give up work in the next year or two and put my feet up but while I've 2 kids at high school see that as being a selfish call so have other responsibilities the job helps to cover. However, I've given up work before and am more than happy to do so again (my workmates don't understand not wanting to turn up day in day out) but while I have kids depending on me see cutting back entirely not being the right option for today but it isn't far off when I will turn my back on my comfortable guaranteed income.
Craig
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