Are The Cracks Appearing?

As I predicted in my last post is this the foretaste of higher interest rates?

Housing estate developer in receivership

Friday May 2, 2014

Stage one of the intensive housing Springpark estate of 420 dwellings in Mt Wellington has already been sold.
A company developing one of New Zealand’s biggest, most intensive affordable housing estates has been put in receivership. More than 420 apartments and townhouses are planned for the Springpark estate on a 10.5ha site in Auckland’s Mt Wellington and the first stage of the development is expected to be completed next year.

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11247899

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