Originally Posted by
Daytr
Anecdotal evidence isn't sways useful and no the economy isn't running hotter than hell. Quite the opposite and things are going to get a lot tougher which may see interest rates come down sooner than forecast imo.
It's true housing is picking up but that's after a 10 - 20% fall in price depending on what region you are in & the floodgates on immigration reopening. Private building however has collapsed due to the costs and supply chain issues following Covid. I suspect the Auckland townhouse / apartment market may have still more room to fall as those is where most of the supply has come in.
I am a member of a nationwide networking group and the reports on the business activity out of Auckland have been dire for months.
Now regional NZ is about to be hit by low dairy prices, kiwifruit isn't what it was, weather impacted production in Hawkes Bay etc
Still around half of mortgage holders are yet to roll onto the new interest rates which will suck a massive amount out of the economy.
Speaking of boats, I have seen plenty of one's with big price cuts and going cheap of late, so SailorRob you did well and if you had hung on to it for another 6 months or so I suspect it would have been different.
So in my view things are going to get tougher before they get better but the housing market might be on the outer as it shows slow improvement.