Its a bit scary how easily the media is pushing the "property market bottom is here" agenda

[snlmommy]

...and some first home buyers are certainly eating it up with a bit more activity at open homes. In saying so I'm not seeing much of that eventuate in increasing sales/prices.

https://fb.watch/kUdoRRfppd/

https://www.nzherald.co.nz/business...ttom-may-be-close/DU5NKTYQIFFUNPJR7FGTQ7PBRU/

Horrible one sided reporting with commentary from biased analysts.

With plenty of people to refix at much higher interest rates in the next 6 months, mortgagee numbers ticking up on trademe and incoming job losses as we move into a recession, I think there is still a decent bit down to go.

What do you think?

 

[kylefleming]

@snlmommy It's a sad reflection on the farcical way that NZ relies on housing to create wealth rather than making anything of value.

Inflation soars around the globe, interest rates look like they've got more room to go up and the nzd is in the shitter... We'll see how this plays out.

 

[kamigirl]

@kylefleming But if interest rates go up NZD becomes more valuable the reason it's dropped slightly is the RBNZ has hinted we've reached maximum OCR.

Also NZD is about average looking at it historically. Of the last 33 years only 14 years has it ever gone above .62 and a long way from the 0.4* we had in the early 2000s.

 

[inaus]

@kamigirl

long way from the 0.3 we had in the early 2000s.

You mean 0.4-0.45, right? I can only see one quick dip just below 0.4 ever.