Originally Posted by
corran
your arguments don't stack up at all IMO. We've just been through the biggest property boom in history, it's clearly topped and coming back down.... consider:
- sales volumes are down significantly
- average sale price is trending down
- home unaffordability is higher than ever
- inflation is above target (rates unlikely to come down anytime soon)
- kiwis are leaving for Aus in ever increasing numbers
- prices need to fall by about 40% to get back to the long term average
Just like in a bear market in shares, there will always be some property investors who make money in a declining market. But most who buy now will be catching the knife just as it begins it's long fall.........