Overall prices down 17% from the covid peak across New Zealand. Some areas showing as much as 25% declines.
And the rule in real estate is that booms are long and so are crashes.
This is another canary in the coal mine. We saw a global real estate bubble so I expect a global burst, with the United States not being immune to this (despite what coping finance gurus will tell you ).
According to available data, New Zealand home prices have risen significantly since 2000, with the median house price increasing from around $170,000 to approximately $810,000 by July 2022, representing a substantial increase of over 300% over the period; this translates to a massive jump in house prices over the past two decades.
Well, the increase in home prices in NZ are pretty ridiculous.
Prices in SoCal are pretty stable still, might still see an increase. Haven't seen any illegals being deported. Chinese and Indian immigrants continue to move in.
Of course the US isn't immune, when 30 bajillion illegals are gone, housing prices will go down, and you know, that's not a bad thing. Young couples can get a reasonably priced house and raise some kids.
Not the end of the world, for those who don't get suckered into buying at the top. Some people would have us believe housing prices (and stock prices) only go up. They love to say "think of what you could have made buying 3 years ago, you don't want to miss out on the next 3 years!" etc.
Overall prices down 17% from the covid peak across New Zealand. Some areas showing as much as 25% declines.
And the rule in real estate is that booms are long and so are crashes.
This is another canary in the coal mine. We saw a global real estate bubble so I expect a global burst, with the United States not being immune to this (despite what coping finance gurus will tell you ).
https://www.youtube.com/watch?v=4j9F45hhvL4&ab_channel=BikoKonstantinos
crisis or crash - weird
Well, the increase in home prices in NZ are pretty ridiculous.
Prices in SoCal are pretty stable still, might still see an increase. Haven't seen any illegals being deported. Chinese and Indian immigrants continue to move in.
You can’t compare the housing market in USA vs China
They both had massive bubbles during covid. It's hard to find a country that didn't.
Of course the US isn't immune, when 30 bajillion illegals are gone, housing prices will go down, and you know, that's not a bad thing. Young couples can get a reasonably priced house and raise some kids.
It's not the end of the world, witness Japan.
Not the end of the world, for those who don't get suckered into buying at the top. Some people would have us believe housing prices (and stock prices) only go up. They love to say "think of what you could have made buying 3 years ago, you don't want to miss out on the next 3 years!" etc.