Haha u did better than me at least, I bought in last week when it was a lot higher! Most of the portfolio is looking pretty average at the moment…
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Haha u did better than me at least, I bought in last week when it was a lot higher! Most of the portfolio is looking pretty average at the moment…
When NZ INC needs its largest construction Company firing on all cylinders !
I'll say it again, for me uni,,,,,,,,,,,
https://businessdesk.co.nz/article/i...es-with-jacobs
https://www.nzx.com/announcements/408845
Looks like 4 directors of FBU see value. Each buying $50k-$80k shares on market
Latest building consents data not that good.
Westpac paint a gloomy picture of the industry over next few years
Tighter financial conditions are becoming an increasing drag on construction activity. Consent issuance is trending down, and we expect that downturn will deepen over the year ahead.
And
Reconstruction following the recent storms that buffeted large swathes of the central North Island will boost building activity over the coming year. However, that will only slow the overall pace of decline in residential building – we’re still looking at tough financial conditions in the homebuilding sector over the next few years.
https://www.westpaciq.com.au/economi...07480&cd=53404
Comment from my developer contact in Hamilton :
Builders in the Waikato are saying that residential building activity is going to fall off the face of a cliff from June in the previously booming region.
They are completing the last of the projects still in progress but many developers are in trouble and have stopped or shelved new developments in the face of unsold stock.
Case in point - a 40 unit development where half the units have been built but remain unsold despite the developer reducing the unit price by 20%. Obviously the developer has stopped the other 20 units from being built.
Australia beckons and many of the tradesmen are getting ready to seek work in Australia.
Not saying they are wrong this time ... but just wondering - how many situations do we remember where property analysts have been correct about predicting the future (excluding some obvious seasonal influences)? And how often have they been wrong?
Might be just my memory, but as far as I am concerned the "wrong" list would be much longer.
Just saying - I guess it can be hilarious entertainment to listen to all these experts predicting the future, nearly as much fun as pouring lead on New Years Eve (are you doing that here as well?) or just reading tea leaves, but we better don't rely on this stuff to prepare for the future ...
The drop is not a calamity. The industry is still over capacity. So really the headline is there to sell and scare as per usual.
"But on an annualized basis, the drop wasn’t as sharp. There were 48,257 new homes consented in the year to February 2023, down 3.3 per cent compared with the year to last February"