Wednesday, Jan 30, 2008
Could the Kiwi housing domino be the next to fall?
New Zealand Herald: New houses down as rate rises bite
New house approvals are down downunder as rates bite. Do the house builders know something we don't or will the reduction in supply help sustain prices.
Posted by hubbers @ 06:05 PM (279 views) Add Comment
2 Comments
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1. bystander said...
Look at the intreest rate - 8.25%, just raised - this is a good enough reason for prices to drop. Our beloved BoE on the other hand is most likely to drop IR's on the 7th to sustain a crumbling asset class, as the government sees this as the only way to keep the unwashed , but debt ridden, masses spending what they haven't got (on cheap credit) on imported shite, which will soon be so inflated as to be unaffordable. Three cheers for the INDEPENDENT BoE and its inflation mandate.
2. Fed Up said...
Yep and you'll see the value of your savings wiped out to boot!
Most of the debt-ridden morons are too stupid to realise that rate cuts increase inflation, not just on imported shite, but on imported necessities, like food.