Housing prices inevitably fall back to what's realistic for the overall economy, writes Brian Jameson.
Saturday, October 25th 2003, 3:45AM
by The Landlord
Some New Zealanders are making serious money backing the inexorable rise of property values.
Like many developed economies, New Zealand is awash with liquidity. Our low interest rates, multitudes of migrants, low unemployment and lack of compelling alternative investments have put a rocket under the residential property market.
There are sceptics - and this writer is one of them. Though all the arrows point upward and the case for continued momentum appears watertight, doubts persist about the sustainability of this latest surge.
