Wednesday, February 27, 2013

New Zealand House Prices at a Critical Level?

Three headlines today make me even more certain a train-wreck in the New Zealand housing market is coming.

HSBC Bank Premier offers lowest fixed 3 yr home loan rate in 10 years. HSBC has launched three new fixed home loan specials at 4.99%...more

It appears banks may be signalling the end of low interest rates and also a lack of demand from buyers in the market. How? Because banks are falling over themselves to drag in the last Mums and Dads into the market.

Only NZD currency depreciation can push short-term interest rates higher...more

Today the NZD lost 1 cent. If this were to happen in a dramatic way in the near future, house prices will burst.

House price expectations rocket...more

An indicator of a bubble. Not so in gold or silver.

Then there are those who have been too quick to come out on the mainstream press to announce gold's demise. They have their reasons and may be quite sincere in their evaluations. However, gold is nowhere near crashing and has been nowhere near a bubble.

When was the last time you saw headlines like the ones today about gold. Right, not since the 1980 parabolic climb. Mums and Dads still don't understand gold. Even top financial advisors don't get it; but then they are usually looking to short term gains for client profit.

Gold in New Zealand dollars: $1953.99 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $35.56 per oz
Previous all-time high: $59.19 per oz (30 Apr, 2011)

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