Coping with those bumps in the night
Q. An extract from BNZ chief economist Tony Alexander's Weekly Overview:
Monday, November 10th 2003, 1:18AM
by The Landlord
Apart from bank staff the bulk of readers (of Weekly Overview) are likely to be people either actively investing in residential property or thinking about doing it.
If you're not already invested, then you're too late to get the cream of this cycle's run, but you might get the last bit of capital gain before things peak out and go the other way for a short distance, maybe 12 to 15 months down the track.
The trouble with these sort of cycles is that, much as we economists may warn about falling prices and display graphs showing this happening in the past, people cannot relate such pain to current or prospective circumstances.
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