On Fri, 2 Sep 2016 11:02:52 +1200, Fred <
dryrot@hotmail.com> wrote:
On 02/09/2016 08:59, Rich80105 wrote:
http://canadianinvestor.com/2016/07/07/vancouver-housing-market-data-on-foreign-nationals-released/
Notice that Vancouver can collect data much more quickly than the NZ
Government - and although there are some queries about the data, they
don't suffer from the same deliberate deception as the NZ data does.
See also
http://wolfstreet.com/2016/07/26/vancouver-housing-bubble-under-attack-british-colombia-hits-foreign-buyers-with-15-tax/
http://wolfstreet.com/2016/08/03/vancouver-housing-bubble-bc-15-percent-transfer-tax-foreign-buyers/
http://canadianinvestor.com/2016/08/29/vancouver-real-estate-bubble-has-burst-and-home-owners-are-panic-selling/
http://www.zerohedge.com/news/2016-08-29/furious-chinese-envoy-slams-vancouver-real-estate-tax-local-housing-market-implodes
and why won't he NZ government do anything?
http://www.huffingtonpost.ca/2016/08/19/vancouver-home-sales-crash_n_11609766.html
It doesn't need to. Prices will stabilise all by themselves and go into
a long period where nominal prices stay steady but in real terms prices
will fall. Nothing new about that - it's happened time and time again in NZ.
Many agree with you. The issue is complex; looking just at the
building sector, we are still having remidial work on leaky homes,
which originated back in the 90's, and that caused a shortage of
building in Auckland, then the Chch earthquake happened, and a
workforce already depleted by an exodus for the Queensland floods, is
still 6 years later working on redoing botched repairs as well as
building still damaged by the quakes. In recent years we have had a
huge increase in migration, which has increased housing demand and
kept wages low, which has helped the high end of the new build market
for dwellings, but still a shortage of skills. Now the demand in
Auckland is drifting south, with affordability getting worse
elsewhere, although in some cases arguably as much to do with low
relative wages as property price increases.
This article appears to discount any changes to government policy:
http://pundit.co.nz/content/will-housing-prices-crash
and that all supports a stalling in prices from about a year to 15
months away - the year being from panic adjustments when National
figure out they will lose the election from not having done anything
about affordability. When do you see the boom dying away, Fred?
--- SoupGate-Win32 v1.05
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