Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ramsey Su who wrote (62659)	4/24/2005 5:19:21 PM
From: Gib Bogle	Read Replies (1) of 74559

"After spending 3 weeks in NZ, I simply cannot find any legitimate support for what appears to be a very costly standard of living there, with housing being a key factor." It is a bit of a mystery (and was a big shock 9 years ago when I returned from the US). Maurice will no doubt know the answer (;-); I'll guess that property values have been pushed up by (1) wealthy foreigners of all kinds moving here to live in a house with a sea view, (2) large numbers of mainly Asian students coming here to learn English, (3) quite a few NZers returning from overseas with their loot. Another positive factor in the economy has been high prices for dairy products. I've been wondering if NZ property values represent a sub-bubble of the big bubbles overseas. Will they all deflate together? Gib

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