Might wait a bit longer.......
 

We've a plan to buy some land here and build our own place but i think we may hang on a while yet.................

Will NZ follow the US?

Maybe not good news ahead if your selling or saddled with a huge mortgage as many kiwis seem to be but heres hoping for a housing price crash.....as a future buyer.........

Re: Might wait a bit longer.......
 

Wouldn't you normally cut interest rates in an attempt to alleviate this?

Re: Might wait a bit longer.......
 

Don't expect a cut just yet! :) http://tvnz.co.nz/view/page/425823/1465542

Re: Might wait a bit longer.......
 

The two markets are not directly comparable. Don't expect this to happen here.

Please keep in mind that as part of the "news" there is a certain amount "news" that is non news. I classify this story in the paper as just a story. It is not really news at all but is just filler.

I am reminded of a statement Heln Caldacott (pardon teh spelling) in her movie If You Love This Planet. She states that if you explode a nuclear bomb in outerspace (she gives the size and perhaps defines the space, but I think it was just the size) then the area affected would be as big as a large portion of the USA. This sounds really scarey until you realize that the last time you visited the USA you were not in outerspace. In other words "observation" or whatever you would call it is not really applicable.

I am not just saying this because I have recently started building a house. I can tell you though that my opinion as a person from North America, don't apply the US housing problem to NZ. It is a real apples to oranges comparision.