That OCA chart looks like winter in not only coming but well and truely here
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yes new lows coming :scared: just like the NZ stock market , breadth is very poor. market held up by a few leaders while the overall market declines.
rest assured though one day a new boom in property and stocks will commence maybe when the great intergeneration transfer of wealth from baby boomers to kin begins in the next 10 - 20yrs may well be the greatest stock market boom ever.
might get 3% more tomorrow though .. an extra 10% next week ? worth the wait ? ;)
Not a bad discount for waiting, depending on what & how long the real wait is ..
With the tide going out daily, must be signs of that deep value breaking the surface some day soon .. or not ?
https://www.nzherald.co.nz/business/...CM2MQSGEXSKG4/
‘Absolute plunge in business profits’ could be just the start of downturn - economist
Interesting penning by an 'independent' Economist
and even bigger to come
Services Sector Index Drops To Lowest Level Outside Covid Lockdowns
Activity and sales were the weakest amongst key indicators, with levels significantly below the long-term average, while new orders also fell sharply, indicating a strong drop-off in demand
https://www.scoop.co.nz/stories/BU24...-lockdowns.htm
should see some big company downgrades come later this yr and early next yr
Don't forget bad news is good news nowadays. Cuts on the way, stocks usually bounce before economic conditions bottom.
Is it agreed that NZ has the highest valued residential property market supposedly in the world.
Given income etc.
And if so ...can values go higher ...especially given the economic climate currently.
In addition I believe there is this thing called "wealth effect" where people spend the supposed increased value of their homes...travel chattels etc.
We live in interesting times.