The Herald’s headlines today cover their bets:
'Too soon to be certain' of economic recovery,
2:20PM Tuesday Sep 15, 2009,
SYDNEY - The Reserve Bank of Australia (RBA)
New housing figures point to possible end of recession
4:00AM Tuesday Sep
15, 2009 REINZ
Anyone would think no-one really knew what was going on.
4 comments:
Nice to see that NZ's recovery is again linked to housing.
"Four thousand holes in Blackburn, Lancashire"
Yep, you're right Kate.
The rise in house prices is not a sign of the end of the recession but a sign of worse to come.
This rise in prices is due to serious shortage of supply.
Few houses are being built and virtually no new lots are being produced and no developer is contemplating new residential subdivision in auckland because of the high costs and uncertainties.
we still do not understand that rising prices are not signs of growth but as in this case can be a sign of lack of growth.
Growth is about production - not about planners stiffling growth with their dense thinking policies.
"They had to count them all. Now they know how many holes it takes to fill the Albert hall"
You're on to it Owen, end of the day it's the RMA and friggin bureaucracy generally that killed the cat.
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