Originally Posted by
Logen Ninefingers
You can ask me ‘a basic question’, but really everything in my post just goes to my points that - 1/ NZ learnt nothing from the housing market crashes that have occurred in other countries 2/ People will not believe that something can happen until it happens.
‘When has New Zealand’…..it wasn’t believed that a property market crash could happen in the US, until it happened. Up until the point that their property market crashed, it had never crashed. Same thing in Ireland.
If a country the size of the US - with the worlds most powerful economy - could not prevent a crash, what makes you think NZ can?
‘The government will not allow’…..the government is not some all-powerful god-like entity that can hold up all markets and do all things for all people. If it was then there would be no poverty, no mental health crisis, no hospital waiting lists, no gang problem etc etc etc.
Saying that our housing market won’t crash because it never crashed before, and that the government is able to prevent crashes….these are just tropes and myths of the NZ mass delusion when it comes to property.