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The Race Place

The Property Boom and Racing


Hesi
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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

 

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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:

 

 

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