Money Game: Is there a housing bubble?
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Thank you for the analysis! I'm willing to bet a lot of people migrated to NZ as it was a "paradise" during COVID, it seemed to be where everyone who retired, went full-remote, etc. wanted to be. I am definitely on the side that there's a big bubble. It upsets me to be unable to afford a home but when I see my coworkers get FOMO and buy in the past 2 years I don't feel as bad. I don't need to look around to see that this level of negative consumer sentiment around housing affordability is unsustainable and is therefore going to be an issue for home prices going forwards.