Just finished (and really enjoyed) The Day The Bubble Bursts. Makes a lot of sense…
However, I’m a bit confused now after reading your articles from the last couple of years. I would’ve thought that we’re now in a situation very like what you described in The Day The Bubble Bursts as signalling impending major problems, but you don’t seem to be predicting a significant drop in property values.
I’ve probably misinterpreted the book and/or the articles, but I’d really appreciate your clarification on this point!
Thanks for the book and any response to this question,
The bubble burst around the world with the Global Crisis, and collapse of many finance houses and companies both here and overseas. The property price crash in NZ was with the developers ( e.g. shoe box apartments) and it was only the low interest rates environment and the shortage of housing that stopped it spreading further. As at this moment I think the market will remain flat for a year or two with good buying opportunities in the mean while.