Quote Originally Posted by Playa View Post
We are about to sadly have mass redundancies and increased unemployment.At the same time record low interest rates.People don't want to leave there money in the bank as they get nothing,they are taking there money off the table in the share market.Will all that money find its way to the property market and send prices higher ? they need to find a home for the money somewhere. Or will it crash with people out of work unable to pay mortgages.I remember the time of the GFC was the start of big increases in the Auckland market
Governments and banks joint mortgage package probably buy some people a bit of time .
That story in the paper today about all the Air BnB's being converted in Queenstown to long term rentals might be the answer to our housing shortage.
Lending currently a bit tighter with the volatility we are experiencing and certain job sectors would struggle to get a mortgage ..... Main bank rates are basically all time lows that's a big positive on servicing but until they drop the test rates it doesn't make it any easier to get into a house .