Comments on: The Gathering Storm (column)

By: Trevor

Trevor — Sat, 17 Jul 2010 03:29:46 +0000

Thank you Olly.
Your articles, opinions and astute analysis of the property market, and
reasons why, are a winner with my partner and myself.
Thank you for sharing your vast experience and foresight with us, 2 of
the “masses”.
We have followed your career in property with much interest over many
years and your books have been a treat (and profitable!).
Best Regards from 2 appreciative property owners,
Trevor & B

By: R

Wed, 14 Jul 2010 20:09:32 +0000

Hi Olly,

Do u think your views may be somewhat clouded by the fact u are a property man..???

U seem to see the world in terms of Property.

Don’t be too hard on the Govt.

Our Govt is providing life support to the tune of $250 million a week… Be Thankful.
Other Govts around the world are doing the same.

If the world moves into a double dip.. protracted recession… what will Govts do..???? Catch the austerity bug.???
Borrow themselves into a deep hole..??… both have profound implications. ( the private sector is too indebted , and consumer spending is too large a part of GDP… to expect it to pull us out of recession )

Do u really think now is a good time for people to be borrowing up and going out buying property..???? times have never been more uncertain. ( I’ve read your stuff at interest.co.nz),…. U seem to have toned done your bullishness in your latest piece.

Consumers have been borrowing to consume. .. That shifts, what should be, tomorrows consumption to today…. we have been taking from the future.

Of course consumers need to retrench.

Read George Soros latest book… He talks about a paradigm shift from consumption to saving. ( ie. consumers no longer borrowing to consume).

This shift has profound implications…. ( bear in mind that in USA consumers made up about 70% of GDP )

As a Real Estate Man … u should be aware of this… its’ obvious.

I have to say… I have never seen Real Estate boom in a Recession….. and this recession is different from any I have seen before…. It is not responding to the massive stimulus that Govts, globally, have thrown at it.. .. but that was ,kind of, to be expected.

Cheers
R
ps. I do enjoy reading your stuff… you have street smarts.

By: Julie

Julie — Tue, 13 Jul 2010 22:56:55 +0000

Thanks for your latest column, which I read with interest. I find it
difficult to understand the property market as it is without the
media confusing matters further. Even with my rudimentary knowledge I
can follow the QV stats and have noted that Taranaki values in
particular have continued to rise unabated. Therefore I often find it
strange to hear how everything is falling. Thanks for giving some
real perspective on the matter.

By: Leon

Leon — Tue, 13 Jul 2010 21:32:03 +0000

I have to agree with you Olly, and you know I hate agreeing with you.

I can never understand why with new house prices so high the trade’s men whom I deal with in the apprentice side of things have their rates being cut even more.

I was in Aus’ a while ago, a three leveled house on the Greg Norman Golf course with a High spec finish was being built for around $980.00 per square metre and the trades where getting great money

Here the same house would be $1700.00 per square metre and the trades can hardly pay their GST

A lot of job sharing going on amongst the trades as well at the moment, not taking on new staff

Cheers
Leon