Economy Melting Down Buy a House!!!

[Zardnaar]

A few months ago they were predicting doom and gloom for the housing market with a drip of 5-10%.

Prices jumped up to 20%

https://i.stuff.co.nz/life-style/ho...ters-unless-you-dont-mind-living-above-a-slip

Lockdowns slowed everything down. No tourism but apparently over 40000 kiwis have returned home since March.

The average house price is now over $800 000. That's around $560000 USD.

Seems lots of people seem to want to flee here, the other day I thought you might need half a million to come here or a 6 figure job.

They even tried to build more houses (the goverment) promised 10000 a year. Built 300 odd in 3. They even had the cash.

Nothing to worry about.
https://www.rnz.co.nz/news/national...ing-silent-pandemic-of-psychological-distress

Oppose more immigration get called racist on CFC. Landscape is pretty, I suppose we can put up tents. Not that immigration is much of a factor anyway except for the expats.

Under normal circumstances I would limit the migration numbers to whatever is sustainable and to a lottery system for applicants.

Paper millionaire in a few more years of this. Yay.

 

[really]

It's about 1am in New Zealand right?
Are you complaining about returning New Zealanders? Would you have blocked them leaving, returning or what?

 

[Zardnaar]

It's about 1am in New Zealand right?
Are you complaining about returning New Zealanders? Would you have blocked them leaving, returning or what?

I would have not let it get to this point with immigration.

NZers returning is fine.

 

[Timsup2nothin]

I would have not let it get to this point with immigration.

NZers returning is fine.

I dunno if NZ has a similar situation so take this for a sketchy comparison...

With the US looking like it could be on the verge of imploding, Belize also is looking at housing, population, and "immigration." Saying "Belizians returning is fine" seems like an obvious thing. In fact it is basically an inescapable thing. You can't really tell a citizen "oh, hey, no you can't move back here."

Here's the problem...there are more Belizians in the US than there are in Belize. If they all returned there is genuinely nowhere to put them.

 

[Zardnaar]

I dunno if NZ has a similar situation so take this for a sketchy comparison...

With the US looking like it could be on the verge of imploding, Belize also is looking at housing, population, and "immigration." Saying "Belizians returning is fine" seems like an obvious thing. In fact it is basically an inescapable thing. You can't really tell a citizen "oh, hey, no you can't move back here."

Here's the problem...there are more Belizians in the US than there are in Belize. If they all returned there is genuinely nowhere to put them.

Same here, million kiwis overseas. If they all came back it's workman's camps and tents.
Most are in Aussie though so they're fine more or less.

 

[FriendlyFire]

A few months ago they were predicting doom and gloom for the housing market with a drip of 5-10%.
Prices jumped up to 20%
Paper millionaire in a few more years of this. Yay.

NZ at least have a solid stratergy for the elemination of Corna
Over here rent prices are all in decline, Either rents go back up or Prices of real estates go down. I expect that the recession is going to signal the end of our boom
With 1 Mil mortagages being interest only, the bubble burst is going to be pretty bad.

 

[Zardnaar]

NZ at least have a solid stratergy for the elemination of Corna
Over here rent prices are all in decline, Either rents go back up or Prices of real estates go down. I expect that the recession is going to signal the end of our boom
With 1 Mil mortagages being interest only, the bubble burst is going to be pretty bad.

UK?