this post was submitted on 01 Aug 2026
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Property market's 'longest and deepest downturn' in 30 or 40 years (www.rnz.co.nz)
submitted 2 days ago by Ilovethebomb@lemmy.nz to c/newzealand@lemmy.nz
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I love it when our media tries to pretend good news is actually bad news. Houses are more affordable than they've been in decades, first home buyers are actually able to buy, investors are fucking off.

Good times.

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[–] keithduthie@mastodon.nz 2 points 2 days ago

@Dave Sure, I should have said "increase more as compared to the average ratepayer".

As to the effects of negative equity, you're likely right about the risk of foreclosure, but the difficulty of getting further loans at a reasonable rate is still a potentially significant downside, given how often unexpected expenses come up, especially early in home ownership when equity is most likely to be low.