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  1. #31
    Join Date
    Sep 2007
    Location
    Auckland
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    8,455

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    Quote Originally Posted by PC View Post
    What's the best cure for high prices?
    High prices.
    But that works in a free market - not what we have unfortunately.
    Well this used to be the case.

    BUT when you have:

    1) A globalised world - so that anyone in any country in the world is able to buy here (although curtailed recently).

    2) Ever lower interest rates.

    3) Massive, unending immigration.


    It's hard to see prices coming down.
    Squadly dinky do!

  2. #32
    Join Date
    Apr 2018
    Posts
    260

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    I tend to think there is a lot of truth in the article, even if written poorly. And I agree with a lot that has been said by Donna and the likes, however;

    Investors on here ALWAYS point the finger else where and those that call them out are elitisised by the gurus with facs and figure and frankly waffle.

    Why did Auck stop growing? Kick back in the in the resistant line in Shares terms.

    Why once Auck stopped growing did Welli double its medium + within 3 years?

    Why is my friend in Dunedin selling her house for $200k more than the RV, making it 250% in 7 years.

    You really think kiwis are the ones setting ridiculous prices even during a pandemic?

  3. #33
    Join Date
    Jul 2017
    Posts
    312

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    Quote Originally Posted by Davo36 View Post

    It's hard to see prices coming down.
    Davo36,

    What about now?

  4. #34
    Join Date
    Apr 2018
    Posts
    260

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    Quote Originally Posted by Chris W View Post
    Davo36,

    What about now?
    IMO it depends where the 15-25% unemployed will live, but id guess of that 90% will live in Auckland which provides above average incomes. I see parts of Welli losing 40-50%, the same, if not more in Dunedin.

    I have a friend selling for $140k above GV, she stands to make $350k from her $20k deposit on $120k. She almost sold it. But time is of the essence. It shall be fun seeing these markets that us hollier than thou investors had no part in over inflating over the next 24 months.

    my2c, of course I dont have a crystal ball.

  5. #35
    Join Date
    Apr 2005
    Posts
    2,943

    Default

    Quote Originally Posted by Davo36 View Post
    Well this used to be the case.

    BUT when you have:

    1) A globalised world - so that anyone in any country in the world is able to buy here (although curtailed recently).

    2) Ever lower interest rates.

    3) Massive, unending immigration.


    It's hard to see prices coming down.
    I really don't think those factors are totally to blame for the house situation before the C19 event.
    Just look at how people reacted to toilet paper a few weeks back.
    How do you explain that in terms of the "price, supply and demand driver" model?

    Possibly you could also compare that to the baby milk powder issue from a few years back.
    To get a wider picture.
    Last edited by McDuck; 15-04-2020 at 05:48 AM.

  6. #36
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,455

    Default

    Quote Originally Posted by Chris W View Post
    Davo36,

    What about now?
    Hmmm jury is still out IMHO.

    House prices have been crazy for over 5 years, but they haven't come back because of the things I mention above.

    Immigration is probably going to fall off a cliff. But the OCR has been lowered a lot. And NZ may look attractive to overseas buyers once again shortly.

    The banks, the reserve bank and the government will all work in tandem to do their best to keep the property market afloat. Because if it falls, the economy is really screwed, much more so than by some virus. They may or may not be successful.

    So I'm not sure if prices will go down by any meaningful amount or not.
    Squadly dinky do!

  7. #37
    Join Date
    Jan 2014
    Posts
    1,042

    Default

    Quote Originally Posted by Davo36 View Post
    Hmmm jury is still out IMHO.

    House prices have been crazy for over 5 years, but they haven't come back because of the things I mention above.

    Immigration is probably going to fall off a cliff. But the OCR has been lowered a lot. And NZ may look attractive to overseas buyers once again shortly.

    The banks, the reserve bank and the government will all work in tandem to do their best to keep the property market afloat. Because if it falls, the economy is really screwed, much more so than by some virus. They may or may not be successful.

    So I'm not sure if prices will go down by any meaningful amount or not.
    Im going to wait on the sidelines and watch for the next 2-3 months, should be enough time to get a clear enough picture, then Im going to pounch!
    "Remember, people will judge you by your actions,not your intentions.You may have a heart of gold -but so does a hard-boiled egg".

  8. #38
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,455

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    Quote Originally Posted by Frezzinghot View Post
    Im going to wait on the sidelines and watch for the next 2-3 months, should be enough time to get a clear enough picture, then Im going to pounch!
    I'm looking at a Papakura commercial property, I must be nuts!
    Squadly dinky do!

  9. #39
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,487

    Default

    Squirrels like 'em, David.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  10. #40
    Join Date
    Jul 2017
    Posts
    312

    Default

    Quote Originally Posted by Davo36 View Post
    I'm looking at a Papakura commercial property, I must be nuts!
    Davo36,

    Isn't that located in the same area as your existing commercial property?


 

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