Hesi Posted November 1, 2020 Share Posted November 1, 2020 Just so we don't interrupt the Melbourne 2020 thread The market in Auckland has gone ballistic. As I said, some customers of mine, could easily get an extra million for their property....gulp. As I understand, it is fueled by 3 things 1. The very low interest rates, something that is governed by the world financial situation. I don't understand why they are so low and keep going down. Low rates mean big borrowing by investors(mum and dad and institutional), but also people with money looking for elsewhere to invest.....no point in the bank 2. Cash rich NZ'ers returning to NZ because of the unsafe Covid situation overseas 3. Cash rich NZ'ers, who cannot spend billions overseas, because of the closed borders A perfect storm really, until the merry go round stops one day, but in the mean time, the banks for a start will want it to keep on I guess it must benefit racing, from the point of view of more available recreational money to gamble, and money to invest in breeding and racing horses. I wonder if this has even occurred to people who run racing here Quote Link to comment Share on other sites More sharing options...
ngakonui grass Posted November 2, 2020 Share Posted November 2, 2020 Would have benefitted Racing plenty if in the past the knowalls of Racing Committees had purchased land as opposed to selling it. Can't afford to buy it back now. 1 Quote Link to comment Share on other sites More sharing options...
curious Posted November 2, 2020 Share Posted November 2, 2020 (edited) Aren't they trying to now steal it from the smart ones that didn't sell? Edited November 2, 2020 by curious 1 Quote Link to comment Share on other sites More sharing options...
Globederby19 Posted November 2, 2020 Share Posted November 2, 2020 On 11/1/2020 at 2:25 PM, Hesi said: The market in Auckland has gone ballistic. Its gone ballistic everywhere. Second page in local paper here, the average price in the Wairarapa is now $613k. FFS. And some of those are rubbish, trust me, I have worked in the building industry most of my life. The worlds gone mad. On 11/1/2020 at 2:25 PM, Hesi said: Quote Link to comment Share on other sites More sharing options...
Hesi Posted November 2, 2020 Author Share Posted November 2, 2020 Agree Quote Link to comment Share on other sites More sharing options...
curious Posted November 2, 2020 Share Posted November 2, 2020 1 hour ago, Hesi said: Agree Also agree. Quote Link to comment Share on other sites More sharing options...
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