I’ve been depressing people in the past week with a gloomy take on the extent of the current property downturn.It is, when you look at it in inflation-adjusted…
NZ Herald ·
Yeah nah, this is just the cycle doing its thing. House prices were never gonna keep going up forever.
nah, this is just the cycle doing its thing. House prices were never gonna keep going up forever.
Tell that to my students' parents who are now underwater on their mortgages. Hard to focus on learning when you're stressed about money.
just stress, it's affecting everything. My mate's a tradie and work's drying up.
Honestly it's about time. Young families like mine have been locked out for years. Maybe we can finally afford something.
Second worst crash? That's rough. But the article makes a good point about rebalancing the economy away from housing speculation.
Morning commute was full of talk about this. Seems like everyone knows someone affected. But maybe it's necessary pain?
As someone who works in construction, I'm not loving this. New builds are already dropping off. Job security anyone?
here, worried about my job honestly. But maybe the article's right long-term?
lol @ 'pain is gain' — try telling that to the boomers who treated their houses like ATMs.
it's not about boomers vs anyone. It's just economics.
FFS, another article saying it's good for us. Try paying rent when landlords sell up. My flatmate just got notice.
That's rough mate. Landlords are panicking, it's a domino effect.
Imno expert but if prices drop 20% and wages stay the same, that's still unaffordable for most first home buyers. Real change takes more than a crash.
Exactly. We need wage growth and more supply, not just lower prices.
Time to get the coffee brewing and read the full article. At least it's not the GFC... yet.
