Auction sales rate drops to 17% in Auckland and 26% across New Zealand

What are all the PI boomers going to talk about round the BBQ this festive season ??? ......nah, nothin' to worry about here, it will all be "back to normal" by next year, anyway if costs go up, I'll just raise the rents ....or the accommodation supplement (taxpayer money!) will help out those out who are more "financially challenged" .....what an absolute croc of sh*t ! 

September 1929

Yes I think it’s potentially a good time to buy, but only if you are patient and pay at least 20% below. Late 2021 peak value.

Seems like a decent pun. Could you explain whats antisemitic?

Goodonya CM !  ....I've been saying for years, its the friggen banks that are doing the best out of all this mess !  It's great to be out of their "grip" ! 

It's a great feeling....but just remember ...your local council has taken on massive debt, soon to be hit with higher interest and thus off loaded to you to pay on your rates. 

There is no escape from the banks.  Sorry.

Congratulations! That's a massive win. It will feel great! 

Do you have an actual response to the points I've made, instead of 'You just don't like the government'? 

Who, by the way, are responsible for the legislation and regulation that governs the environment speculators and investors operate in.

The prices being flat in Auckland were mostly due to National strong-arming the Auckland Council into accepting a Unitary Plan they dragged their feet over. 

The policies Labour bought in were not as they campaigned on e.g. renegotiating FTAs for foreign buyer bans (instead they exempted countries), rebadging and outbidding FHBs for entry level homes so they could slap a Kiwibuild label on them, totally walking away from CGT, fiddling RBNZ's MPC remits and so on The only unequivocally good thing they did was the MPS in the dying weeks of their first term with the changes to the UPS around density and height limits near transport hub. 

If you want to attack National for 'continuing the ponzi' then Labour's poor record of actually following through on things should be held to the same level of scrutiny, and attempting to play the 'RBNZ's fault' card when you've just reappointed the same Governor for another term when many stakeholders were screaming for an independent review first is pretty weak. 

Agree Albert.  Credit due - they went after the landlords, the interest tax change on existing houses a smart way of pushing out investors to make way for home buyers.

I'm no labour fan, but FHB's need to think about this one.

It’s all relative however, those paying cash likely are looking for a home not an investment, and will be subject to buying in the same market they eventually sell down the line. House price drops 10% well you could gasp or brood but it only matters when you sell

Nope, you don't understand equity.  Equity is simply assets minus liabilities.  So if you you buy a house for $1 Mill with a $800k mortgage your equity is $200k.  In order to have negative equity the house value has to fall by more than $200k in our example.  If you pay 1 Mill cash, even if the house goes down 50% and is worth $500k, you've obviously lost money, but you're not in negative equity.