The NZ economy is still feeding on record high government deficits and renewed record inward migration. This is causing record inflation and house prices and downward pressure on the NZD.
Price gouging has been rampan and a duopoly with proven profit increases. Banks gouging too as deposits fall. Landlords increasing rents to cover their interest costs. A few grocery suppliers have lowered their prices back to 2022 prices. Shrinkflation abounds. With property, Kiwis would rather die than drop their prices, unlike Australians who will take the loss and move on. Congratulations on your Kiwi town pronunciation Martin!!
1,Inflation is still to high 2,Interest rates will stay high 3,Nz needed high immigration after the pandemic, that’ll slow 4,short term accommodation has been booming because everyone’s been locked up with the pandemic, that’ll slow 5,long term rentals have been hit hard because of short term accommodation, so visitors outside of many cities are making it hard for long term locals, this’ll get better as short term investors start fighting for long term, basically getting over the pandemic 6, there’s still many mortgage holders to come off extremely low fixed interest rates, many households will have their monthly payments triple 7,things aren’t looking good overseas, getting more likely every day there’ll be a crash of some sort and the trigger could come from several places 8,everything to do with construction, plumbers, architect etc will slow and many jobs will be lost taking unemployment up and needing to take immigration down and therefore having a massive nock on effect helping tenants because there’ll be more to pick from. It hasn’t sunk into many kiwis just how bad things actually are in many areas, nz was probably the stupidest country in the world as for panicking at the start of the pandemic. Not only did nz hold its OCR ridiculously low for the decade before the pandemic. It took it ORC down from 2.5% in 2016 to 1% in 2019. 2.5% was already a historicily low rate. Then knowing they had little ammo to only drop from 1% to .25% for the pandemic they also dropped LVRs from 60% to 80% for investors, because naturally investors need more equity to get access to in a pandemic, so basically a investor with 2 investment properties could go out and buy 2 more, and interest rates were dropped as well so why wouldn’t you. Investors and everyone else trying to keep up literary went insane in nz buying houses over 2020 and 2021. Now what nz has is investors and property upsizers holding off selling with the hope a national government will get in and do three things for them, reverse the tax deductibility on interest rates, sack the reserve bank governor and drop interest rates or somehow fix high inflation so rates come down, and allow Chinese investors back into the secondhand housing market. If national gets in, and itll be with winston peters , I’ll give them a 6 month goldilocks period before everyone releases the problems are to deep , in nz and worldwide. You simply can’t spick assets and debt up over a pandemic and not expect assets to crash and the debt not course massive long term problems
the last 50 years has proved new zealanders are very selfish . but this election we have two new politcal partys , that are under a news black out , because of how well the are doing . so we will if new zealanders want change
Very well summarised to add my thesis. Just like the “in the know” crowd I will buy assets at 50 cents on the dollar or below from the Nov 21 residential property market high not for myself but to assist my children to obtain their own shelter. Remember Orr sat on the WEF long term investment strategy board in 2014 when he was CEO of the NZ superannuation fund! All part of a strategic plan. They wish to own it all and as they hold high for longer will crush the over indebted when they pivot then the sheeple wake up to how bad it is close their measley remnants they still possess in their wallets and the downturn snowballs.
@@mackakiwinz4353 i think the nz property market is going through a sweet hopeful period hoping for national to win and things will change. Many probably thought John key could turn the nz property market after the GFC. They were wrong and that was with the OCR crashing by 6% . The nz housing market outside Auckland dropped in 2009 and went flat to 2015. And Auckland wasn’t much better. If government can turn a housing market wouldn’t key have done it. And the OCR was at a historic low
Lets all be honest and big people folks.... NZ fails to think for itself. We always do what Aussie and he UK do. Look at them and you will see a smaller shadow cast over NZ. NZ . Facts: NZ has only 5.2 million people NZ is geographically a difficult country to build on. Earthquakes, unstable strata etc. NZ is spread between 4/5 main cities. Transport is expensive. Infrastructure is very poor NZ attitude is laid back and beach, sport,leisure oriented. Thats why people come here. NZ is a very poor producer. NZ has lots of cows and therefore milk. NZ wants to be a leader but should focus on its own internal strengths instead of pretending to be a big boy. NZ could be a lot better but politics dictate the terms therefore has a weak outlook. The new coalition may do better. Hope Im wrong about weak outlook. NZ follows overseas trends so its not looking good.....otherwise NZ is great if you don't mind expensive everything,fishing,sport and great scenery!
No look at Sweden the immigration creates further division and segregation so the central government can build bigger, create conflict to take focus off stealth control legislation they attempt to implement and boost fake GDP by consumption .
Ozzy banks profit gauging is a major handbrake on the nz economy. Too many billions going out that should be retained and spent on infrastructure in NZ. Petrol is falling thank goodness, house prices also gone down throughout (even in Ak at least not increased), along with bank interest rates going down finally, with inflation down, wages have gone up for a lot of people, so things there are becoming slightly better so it’s not all doom and gloom like you are painting. Yes alas imported goods are of course costing more to produce so therefore more expensive when imported here. We are feeling the cost of living increases like everywhere.
Last year the government bought in 126,000 migrants so that kept air GDP in positive territory land prices here in New Zealand are 30 5KG lamb is anywhere between 50 and $65 the farmers are getting screwed because China is in financial trouble and not taking any of our products we haven’t felt the inflation yet of container prices rising from 2 1/2 thousand dollars to $10,000AndAs the war in the Middle East ramps up you can expect oil prices to go anywhere to maybe $150 a barrel we are heading to the perfect storm
![FNAF vs TF2 - Episode 2 [SFM]](http://i.ytimg.com/vi/z5b3V2-VLb0/mqdefault.jpg)
The NZ economy is still feeding on record high government deficits and renewed record inward migration. This is causing record inflation and house prices and downward pressure on the NZD.
Price gouging has been rampan and a duopoly with proven profit increases. Banks gouging too as deposits fall. Landlords increasing rents to cover their interest costs. A few grocery suppliers have lowered their prices back to 2022 prices. Shrinkflation abounds. With property, Kiwis would rather die than drop their prices, unlike Australians who will take the loss and move on. Congratulations on your Kiwi town pronunciation Martin!!
This is is New Zealand in a nutshell. ‘Help me, I’m New Zealand and I’m stuck in a nutshell’!!!
😂
Entitled small people. That’s why I left.
@@krissolimmo Image of we halflings blowing raspberries at your back and calling "good riddance", then fleeing when you turn around.
@@robreid6195 good luck. I wish you all the best. Small minds…..
6% inflation is ridiculously high. Almost noone is getting that much in regular pay rises.
Except polititians, of course
Thanks.
Thank you.Accurate information .........
So nice of you
Great timing. Was interested in this subject
Glad you enjoyed it!
1,Inflation is still to high
2,Interest rates will stay high
3,Nz needed high immigration after the pandemic, that’ll slow
4,short term accommodation has been booming because everyone’s been locked up with the pandemic, that’ll slow
5,long term rentals have been hit hard because of short term accommodation, so visitors outside of many cities are making it hard for long term locals, this’ll get better as short term investors start fighting for long term, basically getting over the pandemic
6, there’s still many mortgage holders to come off extremely low fixed interest rates, many households will have their monthly payments triple
7,things aren’t looking good overseas, getting more likely every day there’ll be a crash of some sort and the trigger could come from several places
8,everything to do with construction, plumbers, architect etc will slow and many jobs will be lost taking unemployment up and needing to take immigration down and therefore having a massive nock on effect helping tenants because there’ll be more to pick from. It hasn’t sunk into many kiwis just how bad things actually are in many areas, nz was probably the stupidest country in the world as for panicking at the start of the pandemic.
Not only did nz hold its OCR ridiculously low for the decade before the pandemic.
It took it ORC down from 2.5% in 2016 to 1% in 2019.
2.5% was already a historicily low rate.
Then knowing they had little ammo to only drop from 1% to .25% for the pandemic they also dropped LVRs from 60% to 80% for investors, because naturally investors need more equity to get access to in a pandemic, so basically a investor with 2 investment properties could go out and buy 2 more, and interest rates were dropped as well so why wouldn’t you.
Investors and everyone else trying to keep up literary went insane in nz buying houses over 2020 and 2021.
Now what nz has is investors and property upsizers holding off selling with the hope a national government will get in and do three things for them, reverse the tax deductibility on interest rates, sack the reserve bank governor and drop interest rates or somehow fix high inflation so rates come down, and allow Chinese investors back into the secondhand housing market. If national gets in, and itll be with winston peters , I’ll give them a 6 month goldilocks period before everyone releases the problems are to deep , in nz and worldwide. You simply can’t spick assets and debt up over a pandemic and not expect assets to crash and the debt not course massive long term problems
the last 50 years has proved new zealanders are very selfish .
but this election we have two new politcal partys , that are under a news black out , because of how well the are doing .
so we will if new zealanders want change
the reserve bank governor is in sir john key club
you also forgot her visit to blackrock , to get black rock to save the day behind clothed doors
Very well summarised to add my thesis. Just like the “in the know” crowd I will buy assets at 50 cents on the dollar or below from the Nov 21 residential property market high not for myself but to assist my children to obtain their own shelter. Remember Orr sat on the WEF long term investment strategy board in 2014 when he was CEO of the NZ superannuation fund! All part of a strategic plan. They wish to own it all and as they hold high for longer will crush the over indebted when they pivot then the sheeple wake up to how bad it is close their measley remnants they still possess in their wallets and the downturn snowballs.
@@mackakiwinz4353 i think the nz property market is going through a sweet hopeful period hoping for national to win and things will change. Many probably thought John key could turn the nz property market after the GFC. They were wrong and that was with the OCR crashing by 6% . The nz housing market outside Auckland dropped in 2009 and went flat to 2015. And Auckland wasn’t much better. If government can turn a housing market wouldn’t key have done it. And the OCR was at a historic low
Lets all be honest and big people folks.... NZ fails to think for itself. We always do what Aussie and he UK do. Look at them and you will see a smaller shadow cast over NZ.
NZ . Facts:
NZ has only 5.2 million people
NZ is geographically a difficult country to build on. Earthquakes, unstable strata etc.
NZ is spread between 4/5 main cities. Transport is expensive.
Infrastructure is very poor
NZ attitude is laid back and beach, sport,leisure oriented. Thats why people come here.
NZ is a very poor producer.
NZ has lots of cows and therefore milk.
NZ wants to be a leader but should focus on its own internal strengths instead of pretending to be a big boy.
NZ could be a lot better but politics dictate the terms therefore has a weak outlook.
The new coalition may do better. Hope Im wrong about weak outlook.
NZ follows overseas trends so its not looking good.....otherwise NZ is great if you don't mind expensive everything,fishing,sport and great scenery!
Spot on.
TY Martin so awesome you covered this. Please give the dogs a pat for me 🤗
Done, thanks.
Stuffed is the word you are looking for.
Definately going to be Interesting, but not what I was looking for at 3:02 am. 😊
Debt Debt and more Debt BOOM !
But are immigrants bringing cash with them?
only poverty!
the immigrints are only just covering the death rate
No look at Sweden the immigration creates further division and segregation so the central government can build bigger, create conflict to take focus off stealth control legislation they attempt to implement and boost fake GDP by consumption .
Getting all the crap.
😂 yes arrived with cash but are now broke after shopping at Countdown wait Woolworths.😢
Ozzy banks profit gauging is a major handbrake on the nz economy. Too many billions going out that should be retained and spent on infrastructure in NZ. Petrol is falling thank goodness, house prices also gone down throughout (even in Ak at least not increased), along with bank interest rates going down finally, with inflation down, wages have gone up for a lot of people, so things there are becoming slightly better so it’s not all doom and gloom like you are painting. Yes alas imported goods are of course costing more to produce so therefore more expensive when imported here. We are feeling the cost of living increases like everywhere.
Last year the government bought in 126,000 migrants so that kept air GDP in positive territory land prices here in New Zealand are 30 5KG lamb is anywhere between 50 and $65 the farmers are getting screwed because China is in financial trouble and not taking any of our products we haven’t felt the inflation yet of container prices rising from 2 1/2 thousand dollars to $10,000AndAs the war in the Middle East ramps up you can expect oil prices to go anywhere to maybe $150 a barrel we are heading to the perfect storm
😅😅😅😅😅😂😂😂😂😂😂😂😂😂😂😅😅😅😅😅😅😅😂😂😂😂😂😂😂😅😅😅😅😅😅😅😅 don't know what to say just laugh looks like lots of lope holes 😳 😅😅😅😅😅😅😊 all the best