Quote Originally Posted by NZSilver View Post
Hi - interesting stuff above all, enjoyable reading. Whats your thoughts on market correction in NZ - both property & sharemarket? and do they often make each other occur?

Thanks in advance.
we have already seen a bit of a correction in the sharemarket . More than a bit if you were an investor in say PEB, XRO ...... In my opinion more to go . Certainly if people are making heaps of money on the sharemarket, they feel better about themselves , spend more and if they make a sizeable chunk possibly upgrade the house .... There were a few stories around Wellington in the last year of people pulling 500K out of XRO and moving up in the housing bracket..didn't happen to me last transaction was a sale at $ 4.44 odd ( can't win em all and I did make on that ....) If there is a sizeable correction , this can feed through to the property market although tends to take quite a while ..depends how much leverage people have in their houses etc and if the shares were on the Flexi mortgage ......