I think Auckland housing prices will continue to fall by 15%-25%

[resjudicata]

@gavenv I think there is merit to those points, however I no longer can engage in a meaningful conversation when you speak in that manner towards the end. Cheers

FYI - you abolished your own point that you were making when elaborating the duopoly.

 

[laura888]

@resjudicata "It's in the banks and governments best interest to continue manipulating the economy to keep the debt based monetary system going."

There I fixed it for you.

 

[amelia97]

@resjudicata

If prices fall drastically,

They have and they are falling drastically. There's little the government can do to counter the effect if interest rates. And many of the things the can do involve political backtracking e.g by allowing negative gearing again.

The economy won't fail. The construction industry is in for a rough rude, and unemployment there will hurt the rest of the economy. Most people are going to keep their jobs though

 

[pitterwilliams]

@kalenebari As soon as inflation comes down, within 9, 12, 15 months after rate peaks, perhaps the rates will come back down sharply to release the brakes and we’ll be back at 5s by 2024. And off house prices will continue again, on their 7% annual compound growth rate, just as they have the last 40-50 years. We’re a few months away from peak OCR, unless the Feb CPI figures are a total shock, so perhaps we are not far away from the corner beginning to turn.

 

[zackjohnson922]

@kalenebari as a house owner, paid 700k, worth 1.2mil few years later, im not overly worried about the value other than now i cant get a new motobike lendind based on equity

My main worry is to pay it all off before retirement in couple decades, then sell and move some place cheap

 

[hisdaughter713]

@kalenebari Basically, a popping of the Covid bubble... because we all know that was just plain ridiculous.

I was a forced buyer into this [buying a country house as a real asset... and largely with cash].

I'm hoping to make up for this in buying a downtown apartment in a year or two for a bargain...

 

[cr0011]

@kalenebari Just looked up the REINZ report.

Price Index in Auckland down 18% over the past year. We haven’t had a fall like that in recent memory, and it’s probably going to get worse.

 

[subliminal]

@kalenebari From your lips to God's ears. I know it'll destroy a lot of people- but I'm also not looking forward to retiring into emergency housing.