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Summer chart series: The close connection between house prices and consumer spending
December 28th, 2009Bernard Hickey picks out 10 charts from 2009 in a series of videos to play over the Summer break. In this video he looks at the close connection in the past between house prices and consumer spending in New Zealand as home owners felt confident about spending as house prices rose.
The Reserve Bank believes consumer spending is unlikely to rebound quickly through 2010, despite a 12% rise in house prices forecast in the year to March 2010. Rodney Dickens challenges the Reserve Bank’s views as wishful thinking in this piece here.
Tags: Consumer spending, Housing, Property, RBNZ, Real Estate, Summer chart series
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December 28th, 2009 at 10:38 am
Caucasians love to shop . As a ” race ” we are a melancholic lot , and salve our souls’ with addictions : drugs / alcohol / the internet / blogging (ahem !) / shopping . ….. ….After the financial crisis there is a pent up desire , an itch , to spend . A glimmer of ” green-shoots ” in the form of house price increases , will send the public to the mall , en masse .
December 29th, 2009 at 1:22 am
Yes correct, the impressive, sweet hills of chocolate, which we admire are melting and come down on us into the valleys slowly.