The question remains – have we moved on from our Kiwi love affair of owning our own slice of NZ? Gone are the days of a quarter-acre section, but our DNA makeup remains and appears to be still driving us to secure that patch of real estate we can call our own. While I refuse to get sucked in to the political debate and the regulations inferred, I do think this article in the New Zealand Herald is thought provoking for us hardened property capitalists! Read the article here if you wish. A few snippets:
Figures out this month show national housing values sit only 4.4 per cent below the peak of the boom in 2007.
Major political parties’ lack of policies to redress our love affair with housing has bred frustration in economic circles.
The Reserve Bank says only $24 billion, or 3 per cent, of our household assets are in the form of domestic equities or shares, compared with 73.8 per cent in housing.
While I regard myself as a simpleton when it comes to investment, I can’t help but think that the old adage of “the bricks and mortar that you can drive past, see and touch” frankly takes a lot of beating. Reading through the above article doesn’t persuade me to pull my money out of real estate and invest elsewhere; besides the alternatives are far from convincing and the thought of a “middle man” fleecing your profits or squandering your hard earned cash is far from appealing. Is there really anything “as safe as houses”?
I could go on, but let us know your comments…
All the best as we fast head for December the beginning of the festive season.