PHOTO: The IMF puts New Zealand as one of the most unaffordable housing markets in the world.
Elephant in the room
Speaking of deep analysis, perhaps nothing in New Zealand is over-analysed like the housing market.
We at Money Morning New Zealand certainly contribute our fair bit every week.
But, frustratingly, it seems like the mainstream media have only one side of the argument to offer — that houses have nowhere to go but up.
Sounds like a broken record.
Occasionally, I’ll see a headline like ‘Property Market Crash?’, and when I flip to the article, some housing expert will invariably assure readers that no crash is coming…or even worse, that the very very light softening we’ve experienced recently is actually the bottom of the cycle.
But I’m starting to understand why they hold to that party line…
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