The Correction is here? How bad will it get? – August 2017

The residential real estate market has finally hit the correction we all predicted –  albeit later than most thought.

Here are some postings that make it clear we are in a falling market:

Investor confidence softens ahead of general election

Auckland housing’s stellar decade

High-profile agency owner Michael Boulgaris warns of ‘bad eggs’ in cooling market

The things to consider when trying to predict if we will head to a sever market prediction:

  1. Banks have tightened up lending. Is there a Global Financial Crash coming?
  2. Few are borrowing more $$$ to upgrade their home
  3. Investors are out of the market big time
  4. Homeowners have little confidence in the market – thus not putting their homes on the market unless they have to: death, divorce, transfer, mortgage pressure
  5. Uncertain economy with the real possibility Winston Peter’s is our next PM! That will stem the immigration flow….

Posted by www.propertynoise.co.nz