Daily review 11/03/2021

Written By: notices and features - Date published: - 11 comments
Categories: Daily review

Daily review is also your post.

This provides Standardistas the opportunity to review events of the day.

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11 comments on “Daily review 11/03/2021”

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  1. 1

    DANGEROUSLY OUT OF CONTROL
    In a clear sign the housing frenzy is well out of control, the national median house price rose +$50,000 in February from January, and the Auckland median price is up by +$100,000 for the month, the REINZ says. In one year, the Auckland median price is up +24%, freezing out even more aspiring home owners and leaving a market that only existing owners can transact in. From the start of 2020, there have been almost zero policy actions taken to restrain this frenzy and the ones that have been taken are being shown to be ineffective. The Jan-20 to Feb-21 increase in Auckland is the fastest rise in either percentage terms or dollar terms, ever. There is no evidence this frenzy is winding down.

    https://www.interest.co.nz/news/109471/review-things-you-need-know-you-go-home-thursday-house-prices-frenzy-stage-rents-flat

    Forget about tulips

    1. 1.1

      what's driving that? Are more houses being sold? Or the normal amount but there's such a shortage people are paying more?

      1. 1.1.1

        FOMO on steroids(aka greed)..record feb sales for 14 years so lack of listings isnt the issue…..reintroduction of LVRs in March will have played a role but even with the Govs obvious reticence to address the issue the levels these buyers are willing to pay is foolhardy (as is the banks willingness to finance)…..we are witnessing market euphoria….and I suspect simultaneous profit taking….the last stages before a bubble bursts

    1. 2.1

      Must be really stressful for him. Move him over to the nat party where he belongs and he'll have his colour back before you can say lock 'em up.

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