Mary Holm: Look first before plunging into property

I’ve just read your recent article about house prices.

How is it possible that house prices in Auckland will go down? For example, if now I buy a house with a $700,000 mortgage and its cost is $1 million, within three years I can sell it for $1.5 million, repay the mortgage and earn $500,000.

If I rent a house, it will be a waste of money. It’s like throwing money into the garbage. What do you think?…

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MH

Nobody can tell for certain whether you’ll be better off buying now or waiting. As you say, even the experts are divided.

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