New Zealand's housing market is going through the longest and deepest downturn in 30 or 40 years, property data firm Cotality says.

I love it when our media tries to pretend good news is actually bad news. Houses are more affordable than they’ve been in decades, first home buyers are actually able to buy, investors are fucking off.

Good times.

  • Keith D@mastodon.nz
    2·
    3 months ago

    @Dave Sure, I should have said “increase more as compared to the average ratepayer”.

    As to the effects of negative equity, you’re likely right about the risk of foreclosure, but the difficulty of getting further loans at a reasonable rate is still a potentially significant downside, given how often unexpected expenses come up, especially early in home ownership when equity is most likely to be low.