Over at 200 Square we help people sell their house by using the latest internet tools, and avoiding expensive print and high agent overheads like fancy offices. Our licensed real estate agents to the wheeling and dealing for clients, and are very successful and selling houses. The upside is that it costs just $4,500 to sell a …
Continue reading “Sell your house privately in New Zealand – the book.”
The IMF’s Prakash Loungani reports on housing price changes. the chart below shows 2008 until June, and so before the recent financial events. NZ was not looking too good, while other economies, such as USA have already shown considerable drops prior to 2008. More to come I am sure.
Along with stocks we are also seeing a plunge in housing prices. The mortgage payment/rent equation is still wacko (it should be about 1-1) but 3 weeks ago I decided to place a tender offer on an apartment that I liked in Wellington. With tenders you place a binding bid into a box, and when …
Via Paul Krugman’s blog in the NYTimes: a salient graph if you are thinking of buying a house. Remember the US market is ahead of most of the rest of the world – the big falls re yet to come elsewhere. …the Case-Shiller 20-city index compared with the BLS measure of owner’s equivalent rent, both …
SST reports on several stories of negative equity situations happening in Auckland. That’s when the value of a house is less than the money owed to the bank. “One home had mortgages to ASB for $723,000 and Finance Assist for $150,000. It sold for $535,000. … “The mortgage was to Property Finance Securities (in receivership) …
Continue reading “Judgment Day is here: negative housing equity”
It takes 18.6 years for the median household to buy the median house in NZ, and that’s excluding rates, taxes and maintenance. That’s via NBR, wo curiously neglect to mention that there is a giant photo of Don Brash on page 2 of the original Household Affordability report, as he is the Chairman of something …
Continue reading “Solving the NZ and Australia housing crisis”
The October US new house sales statistics were revised after official release from 735k to 727k, and the September ones from 770k to 716k. Those are big differences, and signs that all is not well in housing land. So via the WSJ blog, a few tasty tidbits about the stats: It isn’t just the bottom …
Lance Wiggs 