yes be interesting , sales will enable valuations to be applied to the nz RV sectors as a guide.
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An unlikely coalition of New Zealand voters are backing Housing Minister Chris Bishop’s mission to bring down house prices
https://www.interest.co.nz/property/...shop%E2%80%99s
:scared: wow re-sale gains might be very limited if bishop succeeds - its not surprising RV's all near lows. might all even go lower as cashflow dry's up more
House prices need to fall 'a further 16%' to become affordable
Housing Minister Chris Bishop caught attention last week when he said house prices needed to drop
https://www.rnz.co.nz/news/business/...ome-affordable
Stats NZ today
1,704 retirement village units consented in the year ended May 2024 which was down 47 percent
So sector cutting back
bull.That house prices need/will to fall surely will not surprise anyone (apart from that property guru/zealot Ashley Church Talkback Radio).
But surely folk who need to move into a retirement entity will still move yes ?
I’m really happy about Housing Minister Chris Bishop’s positive thinking. The biggest household expenses worldwide are rent and mortgage payments.
https://www.statista.com/statistics/...ing-worldwide/
House-price-to-income ratio in selected countries worldwide in 4th quarter 2022, by country
https://rep.infometrics.co.nz/wellin...-affordability
yep people who can afford it will move into a retirement village still , if thats there choice.
If house prices fall 16% say as per article what might happen is some people may no longer be able to sell and move into a retirement village esp if RV businesses held there prices at same level as today.
The govt need to bring in policies to boost housing supply and reduce over-investment resulting in inflating residential land prices, to back up Bishop’s stated desire. Otherwise it will be an empty statement said safely in the first year of government and long before many of his party’s real estate owning supporters will be scared by such statements, if they were made closer to an election.
We seems to hear a lot from the doomsayers, constantly pointing to the sector headwinds, albeit relatively short term focused. That tends to drown out the tailwinds discussion, the largest being the forecast growth in addressable market:
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