IMO, it's not likely a bear market will come in 2021. I hope i'm wrong but world gov'ts are steering this ship so it never sinks. Record low interest rates will continue to boost equities as there are simply no real other alternative (apart from real estate ; but to the those that already have real estate...?)

New legislation on tenancy makes it difficult to eject tenants if they can't find a new place.. overall the idea of rental properties is a risky venture if you're doing it solo. Property rental managers take over 10% of the rental - which leaves lower returns. The more scary concern is meeting the 5 year bright line test will mean nothing when there's a possibility of CGT. The processes of buying / selling a house today requires full disclosure to IRD. Something like 'buying for an investment' can easily mean CGT as 'intent to profit'.