Go against your instincts then - sell when you feel like buying and vice versa. Seriously - worked for me in the old days.
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harvey norman just released results say sales in aus down 20% last 2 mths in NZ sales are down 13% obviously most of the sales drop is related to the last 2 weeks of lockdown in NZ they say for both countries they see sales bouncing back once lockdowns finish
I wonder how much of a bounce back there will be - fair bit of talk going on now that there are only so many couches and TVs that we can purchase - and perhaps the previous bounce back (off the back of the L4 lockdown last year) was a gift. This lockdown in AKL is hurting more than the previous ones and with continual uncertainty on future lockdowns, even when vaccinated, will the wallets open as wide this time round ? It will be interesting to keep a watch on this one.
Government is still pumping hundreds of millions of dollars into households. And there’s not going to be overseas travel for at least another (optimistic) 6 months.
I am told by a furniture store owner that their biggest problem is getting shipments in time to supply & sell. They have been taking 10% deposits to secure furniture and appliances - appliances are about a month behind schedule but furniture is running 3 months behind scheduled delivery!
ANZ economist said about the last past lockdown boom - “The wealth impacts on spending were huge". The 30% increase in house prices helped.
Bounce might not be as big this time around …..as they say house prices won’t be going up 30% this time.
All speculation ….media and expert commentary all noise anyway
As long as the property market keeps humming , spending will remain strong for a while yet. 2 very important factors keeping the NZ economy going at the moment.
things will slow down late next yr is my pick as rbnz raise rates and property market cools hence retail spend will decline some , not crash. world economy has already reached peak growth this cycle doesnt mean growth in the world wont remain robust though just slow from peak at this stage.
We only knew about the house price increases after the fact but that didn't stop people spending as soon as they could. I think the very low interest rates and lack of ability to travel internationally are the two biggest factors. Sure, house price gains help too.
TV1 news showing that the local fashion shoppers are still at it..