I'm afraid NZ is in for a big crash there are over 100 houses listed as mortgagee sales on Trademe. Banks don't like advertising Mortgage sales, so they often use terms such as' the Bank says sell, ' etc., so there are probably a lot more. I have seen houses rise in price by up to 500% in 8 years. One house for sale in Warkworth today for1.5 million sold for $240k 8 years ago. There is a massive housing Ponzi in this country. Jobs listed have gone down over 50% over the last two years, with the biggest job losses in manufacturing and construction. There are 247,000 unoccupied homes in NZ, yet we have 112,000 homeless.
Luxon is trying to prop it up with Interest rate drops and now foreigners can invest in houses, massive immigration numbers to support ever-increasing rents...
We need term limits on politicians to try and stem process corruption. End the gdp myth that we need constant growth. The last kick in the face for young people is now no job seeker support where are the jobs for the young when they have to compete with migrants who will live 4 to a dorm room and work for half the wages...
On top of all this we as a country are nearing a Trillion in debt and the unservicable debts is in the billions. Tauranga coucil for example has already exceeded their LGFA limits sitting at curently at 1.2 billion.