Upside Down and SC ( you only need to read this once)
Quote:
Originally Posted by
Shrewd Crude
Moke and Macdunk...you guys are wrong.
....
Look at the facts before posting.
Macdunk, you say house prices cant fall much further because of construction costs. Well...construction costs are coming down ...
.^sc
Actually they are not. The cost of building a small home in Canterbury is $1755 a SQM as at July 08, up from $1,736 in January. Construction costs have consistently risen in every period for the past 10 years, even back in ‘99 when inflation was as close to Zero as we’ve been in recent history. Construction costs have not come down once in that period – and here we are with the CPI at 5.1% in Q3 of "08 ( the highest since Q3 in 1990) and we are expected to believe construction costs are coming down. I can't see any evidence of that.