Housing values are rising faster in Queenstown/Lakes, the Waikato, Tauranga and Wellington than in Auckland, according to the latest figures from Quotable Value (QV).
QV says the average value of homes in the Queenstown/Lakes district is now $959,282, up a whopping 30.7% in 12 months.
However the biggest growth in average values has been in Kawerau in the Bay of Plenty, although it has come off a very low price base, with the average value in the town now $150,723, up 43.2% compared to a year ago.
There has also been very strong growth in average values in the Western Bay of Plenty +29.3%, Waikato +28.7%, Tauranga +28.1%, Matamata Piako +26.2%, Rotorua +25%, Opotiki +24.8%, and Wellington +21.2%.
Those areas are leaving Auckland and Christchurch in the shade, with average values across the Auckland region rising by a comparatively modest 15% over the last year, while average values in Christchurch are up a paltry 4.4% (see table below for average values throughout the country).
QV national spokesperson Andrea Rush said the introduction of the new loan-to-value ratio (LVR) restrictions for residential property investors was having less impact in many provincial centres where prices were cheaper than they were in Auckland, Hamilton and Tauranga.
"Despite a clear slowing in activity and demand in the Auckland, Hamilton and Tauranga markets since the introduction of the new LVR restrictions for investors, we are seeing little evidence of a slow down in value growth in these areas," she said.
"Centres with entry level properties under $350,000 less impacted by the new LVR restrictions, most likely due to the new 40% deposit requirement for investment properties being easier to achieve at a lower price point."
The only areas where average values decreased over the last year were the Buller, Grey and Westland districts of the South Island and the south western suburbs of Christchurch.
Suburbs on the easetrn flanks of what was the former Auckland City Council boundary, which inlcude seaside suburbs such as St Heliers and Mission Bay, are the most expensive in the country with an average value of nearly $1.5 million, while the cheapest district within the Auckland region is Franklin on its southern fringe where the average value is $629,381.
| QV House Price Index | ||||
| Time period: Three months ended September 30, 2016 | ||||
| Territorial authority | Average current value $ | 12 month change% | 3 month change % | |
| Auckland Area | 1,031,253 | 15.0% | 5.8% | |
| Wellington Area | 553,023 | 21.2% | 7.1% | |
| # | Main Urban Areas | 743,012 | 14.4% | 5.2% |
| Total New Zealand | 619,660 | 14.3% | 4.9% | |
| Far North | 370,088 | 16.0% | 5.2% | |
| Whangarei | 441,244 | 21.9% | 7.1% | |
| Kaipara | 432,722 | 20.9% | 3.3% | |
| Auckland - Rodney | 894,816 | 17.0% | 4.8% | |
| Rodney - Hibiscus Coast | 877,070 | 16.2% | 4.1% | |
| Rodney - North | 913,102 | 17.7% | 5.3% | |
| #A | Auckland - North Shore | 1,207,974 | 14.8% | 6.3% |
| North Shore - Coastal | 1,375,501 | 14.1% | 6.1% | |
| North Shore - Onewa | 975,610 | 13.9% | 6.8% | |
| North Shore - North Harbour | 1,177,378 | 17.9% | 6.3% | |
| #A | Auckland - Waitakere | 824,528 | 14.5% | 6.9% |
| #A | Auckland - City | 1,194,608 | 13.0% | 4.2% |
| Auckland City - Central | 1,021,399 | 11.8% | 2.6% | |
| Auckland_City - East | 1,482,962 | 13.2% | 3.5% | |
| Auckland City - South | 1,102,652 | 13.7% | 6.0% | |
| Auckland City - Islands | 1,030,893 | 16.7% | 6.3% | |
| #A | Auckland - Manukau | 895,932 | 17.5% | 6.4% |
| Manukau - East | 1,154,978 | 18.1% | 6.6% | |
| Manukau - Central | 690,259 | 15.8% | 6.2% | |
| Manukau - North West | 764,574 | 18.2% | 5.6% | |
| #A | Auckland - Papakura | 667,893 | 17.4% | 6.6% |
| Auckland - Franklin | 629,381 | 13.6% | 2.9% | |
| Thames Coromandel | 617,179 | 15.5% | 6.5% | |
| Hauraki | 324,503 | 25.2% | 5.6% | |
| Waikato | 403,728 | 28.7% | 4.7% | |
| Matamata Piako | 363,587 | 26.2% | 6.4% | |
| # | Hamilton | 529,236 | 27.1% | 7.5% |
| Hamilton - North East | 676,962 | 28.1% | 7.8% | |
| Hamilton - Central & North West | 495,317 | 27.4% | 9.6% | |
| Hamilton - South East | 477,746 | 25.0% | 6.3% | |
| Hamilton - South West | 461,971 | 26.5% | 6.1% | |
| Waipa | 464,543 | 26.7% | 6.6% | |
| Otorohanga | 243,352 | 21.1% | 4.0% | |
| South Waikato | 168,446 | 21.6% | 8.8% | |
| Waitomo | 161,574 | 12.0% | -4.1% | |
| Taupo | 408,943 | 16.3% | 5.5% | |
| Western BOP | 574,993 | 29.3% | 9.2% | |
| # | Tauranga | 644,297 | 28.1% | 7.4% |
| Rotorua | 354,278 | 25.0% | 8.1% | |
| Whakatane | 364,868 | 22.0% | 4.5% | |
| Kawerau | 150,723 | 43.2% | 15.1% | |
| Opotiki | 264,305 | 24.8% | 9.2% | |
| Gisborne | 253,473 | 9.8% | 6.9% | |
| Wairoa | 161,110 | 11.0% | 8.8% | |
| Hastings | 367,227 | 17.8% | 6.3% | |
| # | Napier | 393,672 | 18.1% | 5.6% |
| Central Hawkes Bay | 230,851 | 10.5% | -0.3% | |
| New Plymouth | 398,091 | 9.9% | 2.2% | |
| Stratford | 223,004 | 8.7% | 2.1% | |
| South Taranaki | 195,804 | 4.2% | 3.4% | |
| Ruapehu | 146,822 | 11.4% | 2.5% | |
| Whanganui | 202,698 | 12.1% | 2.7% | |
| Rangitikei | 161,468 | 11.6% | 5.6% | |
| Manawatu | 276,259 | 12.7% | 3.9% | |
| # | Palmerston North | 331,617 | 12.0% | 5.0% |
| Tararua | 157,975 | 6.5% | 0.9% | |
| Horowhenua | 239,919 | 14.9% | 5.8% | |
| Kapiti Coast | 448,253 | 16.5% | 6.3% | |
| #W | Porirua | 453,069 | 19.0% | 7.0% |
| #W | Upper Hutt | 401,717 | 19.2% | 9.6% |
| #W | Hutt | 453,291 | 21.8% | 9.6% |
| #W | Wellington | 661,927 | 21.2% | 5.9% |
| Wellington - Central & South | 662,607 | 19.4% | 5.6% | |
| Wellington - East | 718,160 | 21.8% | 4.2% | |
| Wellington - North | 586,812 | 22.5% | 7.1% | |
| Wellington - West | 768,997 | 22.0% | 5.6% | |
| Masterton | 260,551 | 11.6% | 5.9% | |
| Carterton | 299,768 | 12.0% | 6.5% | |
| South Wairarapa | 340,907 | 9.0% | 3.8% | |
| Tasman | 475,427 | 11.4% | 4.2% | |
| # | Nelson | 476,817 | 14.1% | 3.5% |
| Marlborough | 408,014 | 13.7% | 5.8% | |
| Kaikoura | N/A | N/A | N/A | |
| Buller | 193,319 | -2.3% | -7.9% | |
| Grey | 208,318 | -1.2% | -1.8% | |
| Westland | 233,226 | -2.1% | 6.6% | |
| Hurunui | 370,870 | 3.0% | 3.2% | |
| Waimakariri | 427,804 | 2.8% | 0.0% | |
| # | Christchurch | 495,723 | 4.4% | 0.9% |
| Christchurch - East | 374,461 | 3.9% | 0.4% | |
| Christchurch - Hills | 680,165 | 6.7% | 2.5% | |
| Christchurch - Central & North | 584,553 | 5.5% | 1.2% | |
| Christchurch - Southwest | 442,873 | -2.5% | -4.7% | |
| Christchurch - Banks Peninsula | 513,548 | 3.7% | -0.1% | |
| Selwyn | 535,873 | 3.7% | 0.7% | |
| Ashburton | 352,761 | 6.5% | 0.6% | |
| Timaru | 330,999 | 6.5% | 2.6% | |
| MacKenzie | 379,408 | 22.3% | 6.4% | |
| Waimate | 218,208 | 7.0% | 0.0% | |
| Waitaki | 249,895 | 8.4% | 4.9% | |
| Central Otago | 401,475 | 20.6% | 4.4% | |
| Queenstown Lakes | 959,282 | 30.7% | 6.7% | |
| # | Dunedin | 339,201 | 12.1% | 3.5% |
| Dunedin - Central & North | 355,987 | 13.1% | 3.9% | |
| Dunedin - Peninsular & Coastal | 304,687 | 11.5% | 4.8% | |
| Dunedin - South | 324,084 | 12.2% | 3.8% | |
| Dunedin - Taieri | 348,372 | 11.2% | 2.3% | |
| Clutha | 181,864 | 9.4% | 4.3% | |
| Southland | 224,231 | 5.3% | 3.4% | |
| Gore | 197,861 | 5.8% | 1.2% | |
| # | Invercargill | 229,991 | 9.7% | 3.9% |
| Notes on the above data: | ||||
| 1. The information included in the above table is based on the monthly QV House Price index. This index is powered by CoreLogic and is calculated based on the sales data entered into CoreLogic's system in the previous 3 month period. For example, information for the period ending June will be calculated based on sales entered between April 1 and June 30. | ||||
| 2. The average current value is the average (mean) value of all developed residential properties in the area based on the latest index. It is not an average or median sales price, as both of those only measure what happens to have sold in the period. | ||||
| 3. The percentage change over three months, twelve months and since the 2007 market peak are based on the change in the property value index between that time and the current. | ||||
| 4. Any of the statistical data shown in italics are calculated based on a sample set of data that is less than the recommended minimum. These results should be used with caution. Those showing N/A had too few sales to generate an index | ||||
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80 Comments
Greg, figures are not always that accurate.
Figures say that South/west Christchurch prices average has dropped off the last year!
Rubbish. 442k average is ridiculous unless they have included all the sections sold.
442k would be at the low end rather than the average.
Halswell is Southwest Chch where heaps of new houses in new subdivisions have sold and the cheapest new one would be 500k and some getting up near 1million, so figures are wrong if they say it is for houses only.
Very misleading!
So you have more accurate data than QV? You are hardly objective when you say you have so many rentals in Christchurch. We all think our investments/assets are worth more than they really are. Human nature prevails here. What is an asset worth until it is sold and the money hits the bank account.
Gordon, yes I have more of an idea than REINZ as to true figures and what is going on.
They have included Addington figures in southwest figures which is totally misleading. Addington
Has many 2 bedroom units that have sold this past year as the oldies have moved on.
To buy any 50 year old house in Southwest chch on full section you need near 500k minimum.
Average new house southwest now is 700k not 442k
Experience in real estate for many years and do I know what I am talking about ? The answer is yes!
And yes I have REINZ stats and know what they are quoting
If the figures are so accurate Gordon why would one area in Christchurch drop when all others show they
Have gone up unless there is an anomaly in the stats?
Possibly not, but the 442k average is for the whole southwest. If they break it down into individual suburbs not only will there be a pitiful amount of data and a huge amount of noise in the stats, but the list would be 20 times as long. Have a look at Trademe, filter by max price 450k, and watch southwest Chch light up. For example, of 51 listings in Hoon hay 30 of them are under 450k. Is a 442k average so hard to believe? Even Halswell has 19 of the 115 total under 450k.
MFD.
Looked at TradeMe for Hooh Hay.
Really no 3 bedroom houses for under 450k that weren't in the Rowley Part of Hoon Hay which is the lower socio part of Hoon Hay, plus 2 bedroom houses.
Any average part of Hoon Hay for 3 beds is over 442k easily.
Send me a link of these 442k properties in a good part of Hoon Hay and I will buy it!
I rest my case. You sound so desperate to keep values in certain areas up to where you want them to be. I have friends in Christchurch with investments properties. They all say prices are dropping as the work runs out. People are leaving and of course new homes have been built. Why would anyone buy an old home when you can buy a new one with all the added warmth and lack of maintenance and repairs. You need to be careful you are not caught out. Have you thought about taking some money off the table. As JK said yesterday when the States increase their lending rates in December it changes everything for the rest of the world. Property and shares do not like rising interest rates.
Gordon, very desperate I am on my way out to buy up these 442k average houses in the southwest.
You must have friends who don't know what they are doing if they are saying prices are dropping, and unemployment in Chch is not increasing at all.
Why would people buy older homes rather than new is because of the difference in price and debt servicing Gordon.
Also second hand property gives great positive returns whereas new you have to propped them up.Dah!
Not selling anything, as returns are too good and Chch prices are always more stable than most other places in NZ.
Interest rates aren't heading much north again, unless you know differentGordon?
When the States starts increasing its rates it means the rest of the world can start doing it. Yellen says the States is slowly and surely improving economy wise and she is looking to put up rates in December. Like so many people you fail to admit we are on emergency rates. Put there to prop up the world economy. They will not stay there for ever and when they move up asset values will come back. You will deny all this but your type do that. You still talk about the 87 crash and the dips since. You go for the easy safe buck and have missed out on the real growth in asset values. Equities. My share portfolio will drop in value at some stage as interest rates get back to normal levels but the dividends will continue to increase as I buy defensive stocks that sell necessities to you and me.
As a regular listener to US finance podcasts I am now constantly heairng interviews with economists, finance leaders, fund managers etc who are exasperated that rates have not risen. Their conclusions are that low rates have not worked and to continue doing the same is not an option. Most seem to pick the rise after the elections. Just saying.......
I find it laughable how disconnected these "financial types" seem from the real world. So is it "exasperated" because they have upset they are not getting a return? I mean sure put rates up with no one willing and able to pay it that's going to make things worse, not better.
In terms of low rates have not worked, well it has stopped a major global recession if not depression occurring, what it has not done is caused a recovery.
Pick rises? personally I think its a joke, if they do rise I'll pick a major recession in the US economy as a result.
The bubble was formed before the interest rates dropped. It formed when everyone saw the GFC and fled from paper shares to physical assets.
The air was then provided by migration. As Canada, Australia, and one day NZ will realise, the rates had nothing to do with it, they merely acted as a method to allow some local buyers to compete.
Lifting interest rates will not pop the bubble, it will only release a tiny bit of air.
The bubble wont pop until China does - and they don't abide by any western economic theories.
Agree with you above that interest rate rises wont happen because the world economy simply cant afford it.
Similarly though, Oil prices will not recover for any sustained period - it would cause major recession problems. The world can not now afford higher priced Oil, which is a HUGE problem. And if you cant afford Oil, you certainly cant afford low energy dense renewables.
Gordon, great that you are passionate about shares, just like myself with real estate in the market of Chch.
Wouldn't touch Auckland now with a barge pole.
Chch works for us and returns are better and safer than the sharemarket in my biased view.
Different strokes as they say.
U.S.A. Has so many problems that it will not blossom for a very long time if at all.
As I thought, too embarrassed to disclose your cash returns as they are pathetic. You rely on capital gains so your investment is precarious especially since there will be restrictions on you speculators before the election starts. My dividends are generally tax paid in my hands although my biggest share is starting to pay tax in Australia so it is not as good as it used to be. When the NZ $ drops against the Aussie that will make up for it
Its certainly easy for someone like you to put such figures on this site without any proof. It is what I expect as history has shown on this site that people like you do not have any investments at all and just talk about having heaps of property as it makes you feel successful. My shares have dividend returns of up to 30% with imputations credits on top. The original shares were bought at a dollar and the annual dividend is 30 cents per share and expected to be above 40 cents in two years time. As already disclosed this share is paying tax in Australia on part of its operations so part of the dividends do not have imputation credits attached to them. Still no costs unlike your rentals. And no tenants and certainly no government and RB looking to hit you speculators before the election otherwise JK is toast.
I have to disclose I have one investment property in Wellington. Used by the kids while at university and bought ten and a half years ago for $536K. Was worth not much more than the purchase price last year but certainly now worth more than what I paid for it. It is a two storey townhouse in a central part of Wellington. Funny how the worm turns.
Little Man I hope you have fixed your interest rates as they look like they are going up as shown today by one of the NZ Banks.
Gordon, firstly no need whatsoever to prove anything to anyone, except to say that I don't tell porkies.
Secondly, I am not a speculator but an investor and a very good one.
If you knew me you would be impressed but I have no need to impress anyone.
Have taught several people to be successful with property as well which has changed their lifestyle for the better as well.
Have fixed interest rates but they are not going north anytime significantly if at all, but won't affect us if they did anyway.
Maybe you were paying too much for the first one.
There are many landlords also that don't do it for a living and undercharge for their rental and are happy to prop the property up financially each week.
We are full time professional landlords and don't see the need to subsidise other people's living costs.
I probably was paying too much for the first place, but the market was moving fast then, we'd just arrived in the country and wanted somewhere to live. Much more relaxed looking for rentals now.
If enough people start undercutting the market to get someone in, you might not have much choice but to lower your rents. The last time I was looking I even saw quite a lot of special offers, like first 1/2 weeks rent free. Never saw that a couple of years ago.
MFD? Our rents have come back about $20 per week on some of the properties from peak.
However properties are well maintained and haven't had difficulty holding tenants.
The other thing is that interest rates have dropped significantly and at record lows, so landlords are financially far better off.
Oops I see the Cooperative Bank has raised some key mortgage rates today as its funding rates are rising. Sort of goes against your argument that interest rates are not going to head north. I would take some money off the table if I was you as your returns are going to get worse than they already are.
Don't take him seriously. Like many on this site he has no assets and just loves winding people up to get a reaction. If he was real he would have some humanity and feel sorry for those who have missed out on just owning a home because they were born in the wrong generation. I am a boomer who got through university without any debt. The biggest loan on a home I ever had is $100k and I live in a multi million home today. Because I had no debt when I was in my prime earning years I was able to pour money into private and public equities and retire at the age of 58. I think it will be harder for late X and Y to achieve the same as they will be busy paying interest to their landlord called " the bank" and will only have crumbs left over to invest in kiwisaver at the most.
Not trying to do that actually. Just trying to show there are other ways to achieve a comfortable retirement. Today's announcement from the Bank certainly indicates mortgage rates are starting to rise back to normal levels. Time for property owners with high debt levels to take some of that debt off the table.
You have spent the entire length of this argument proving why the way NZ has gone with "investing" in houses must absolutely change!! It has become a nasty vicious cycle of the landed gentry able to hoover up anything they like as they have long held capital (often not even that particularly long) that has increased in value via absolutely nothing that they, as owner, did, denying those that have to face a much more difficult uphill battle to see themselves into their own home.
Our culture around housing at the moment is just horrible and amounts to not much more than farming people, people who constantly have a landlord breathing down their necks, prescribing how they are to live their lives.
I accept that it has gone so far now that for many there will be no coming back, so I am going to be looking for changes to and trying to do something about, how houses are rented in this country.
You seem just a little obsessed with the statistics - I ask the question why. Statistics are just statistics - it's a willing seller and a willing buyer that determine the price of a house, not statistics or are you afraid of what they may indicate. Boundary's have to be drawn somewhere for these statistics - so some may win and some will lose.
That's because the regions are still playing catch up with Auckland. We still have summer to come people.
Nothing has been done to quell demand. Nor has anything meaningful been done to stop investors. 40%LVR doesn't mean much when I can leverage my existing Auckland property that has increased in value by 40% over the last few years.
I'm interested in this. As I have mentioned further down. My bank (1 or the big 4) wants me to retain the 40% in my current rental bought before these new limits - when they worked out my equity position and how much more they will lend me. Or start paying high leverage lending across all my borrowing.
So unless you're really really gung-ho about property then I reckon the 40% gain is hard to pull out and re-invest.
Or else I need to change banks?
Surely playing Follow My Leader., the new game to be played in the land of the Long White Laundry Basket.
Values have not truly risen, by this much, borrowing and import ability has. Cannot force one, without the other.
This is speculation at its finest..solely for Capital Gain, to pass on to the next mugs debt.
Possibly an antiquated China Mug, but who can tell these days, we are not allowed to say...but ....but..
Money may have been produced and painted up to look worth having, by a 3d printer in Guangzhou. Then laundered by a well versed and equal partner in crime in NZ.
Otherwise, why would you over pay for a crap house in a crap area in New Zealand.
Otherwise, where does the money ...legitimately come from>>...may I humbly ask.
Or...Did we simply print it ourselves.?
This new found technology is magic, it beats the old fashioned counterfeiting into a cocked hat.
Doubling up houses into the Bargain.....eh.
Greg, as I say figures very misleading.
Just looked at figures at south/west Chch showed that for June 2016 for the true southwest area the average price Halswell, Aidenfield and Hillmorton is 624,500 so to include Addington etc. is misleading as to what is going on. So effectively nearly 200k difference.
I'm surprised at this. Well not surprised that prices are up since September last year - but I doubt they are surging since June, July, August.
My experience - Wellington. Owner of one rental property. Looking to buy again this spring and surprised my bank applying 40% LVR limit on my current rental which was bought about 2 years before these new LVR limits came in. Has anyone else had similar experience of banks treating the new LVR limits to existing rental properties?
Anyway this has reduced what I can afford by about 150K and moved most of what I was interested in above my price range.
Definitely think this round of LVRs are having an effect, I actually bought my first rental property just after the first LVR round - and found that a great time to buy as no competition and gave the buyer leverage. So i'm getting some valuations done and getting myself in a position to act, but enthusiasm and urgency has definitely waned. But the effectiveness of this round has really got me wondering about how much effect DTI will have.
Hi Penfold, thanks for sharing this perspective.
It seems you are confirming that LVR limits are an effective tool.
I think DTIs will also have a significant effect.
For example, if a property has a rental yield of 5%, funded only against rental income, then as I see it, a DTI limit of 5 would prevent a loan being taken of more than 25% of the value (25% = 5*0.05). i.e. there would be a virtual LVR limit of 25% applying in this case (requiring 75% of the property value to be funded by equity). If an LVR limit of 60% is giving pause for thought, then surely such a DTI limit will have a profound effect.
What is wrong with my perspective?
Thanks
From what I hear things are slowing down- thank goodness. There still remain buyers around though. The Singaporeans have managed their housing market(bubble) the best. They were one of the first to introduce the 15% stamp duty to foreign buyers.
Vancouver/ BC have been the biggest idiots.
same here - lucky enough to have bought two rentals in Hamilton just over a year ago 20% equity on both - a third came up recently - but bank applied 40% ratio to the first two and so sucked any equity I could have used from the gains to make up the deposit - so same as you ended up short
As i have mentioned before,an elderly family members home was put on market to be auctioned approx 6 weeks ago.
Agents originally thought 450k to 500k
Buyer interest suggested 380k to 390k.
Not auctioned due to family issue.
Since then 1 offer at 340k topped up to 380k after it was turned down.
Could be in for a long wait.
Seller expecting 410k to 450k.
Any fool, who thinks this old fool, is gonna borrow money off himself to fund the shortfalls of others is as mad as a chook. I never do.
That is what rentier and renting is all about.
But now that I have your attention, this new event I am planning is gonna be bigger than ever, so get in whilst you can. The game is already afoot.
Wake up, I do have a deal for you, that you cannot lose, take my word for it..
It is a game called "Have I Got a Deal for You' and it is only 30 pieces of silver. to play.
In theory you cannot lose. I will supply a disclaimer to that effect, after the event.
You do not need anything but a computer to play, even a smart cellphone may be able to cope. A piece of paper for those with a little intelligence., will suffice.
The theory of the Game is this, there is always a bigger fool, but not you.
Any country can play, until they all drop out, one buy one, by one.
I will kick it off on Friday the 13th next, but you had better all be ready with your keys at the ready, wallet in hand,cards on the table, ready to swap your ideal house for a mud hut just in case you lose, but you cannot, but just in case you do, have your keys ready. If you put your car on the house, you will need two sets of keys, if a business, all that you survey.If you employ people, perhaps you had better send out a brief email.
It is how to free up the money supply, cost effectively, so you cannot lose, nor can they, so do not worry.
I do know best. Have done for years.
The interest rates of all Nations have been forced down to enable the enablers to enable the enabling of the enabled system, going forwards, not backwards, uplifting the downward spiral of the debt ridden, slide, selling this to buyers, flipping and counter flipping the exchange rates, with the forward rates, over the derivatives that were then on-sold, via fast thinking computers, that out thought a simple Ben Bernacke theorotician, in a deluded deleveraging, but overindulged leveraged state, that then got sold on to China, so they bought it all and then on-sold the theory to all and sundry, Vancouver, London, Awkland, and any mug punter, who does not understand They, repeat they are buying on a merry-go-round of epidemic, leveraged proportions, never envisaged by any sane man, woman or deluded child, in all of history.
But you go ahead, I will reverse the equity, back-up the truck, pull-in to a lay-by and pay your debts to infinity. You have my word on that.
And my word is my bond. If I lose, I will take the haircut.
Any Takers?.
Thanks,
DONALD
...and I do not mean...DUCK....but you might as well...the SMHT...fan.
QE10 anybody???.
The game is called...follow my leader..
Canada is serious about bursting the bubble. How embarrassing are going to be for NZ's policy makers when they don't have any other option than acting too late or to see how our crash destroys the productive economy for not having put proper firewalls in place.
http://www.zerohedge.com/news/2016-10-04/canada-moves-burst-housing-bub…
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