http://housingdoom.com/2007/04/30/new-zealanders-need-not-worry/ Fri, 18 May 2012 02:39:21 +0000 hourly 1 http://wordpress.org/?v= http://housingdoom.com/2007/04/30/new-zealanders-need-not-worry/#comment-4967 Jack Soo Sun, 26 Aug 2007 07:06:57 +0000 http://housingdoom.com/2007/04/30/new-zealanders-need-not-worry/#comment-4967 The real estate industry can say what they like to support the property prices but the credit crunch has started to incapacitate most finance companies with one after the other facing short of operational capital. People are now feeling safer to treat cash as king rather than borrowing money to lock in properties. In short I predict median property prices in Auckland to fall as much as NZD5,000 in August 2007 and thereafter most likely a free fall. The real estate industry can say what they like to support the property prices but the credit crunch has started to incapacitate most finance companies with one after the other facing short of operational capital. People are now feeling safer to treat cash as king rather than borrowing money to lock in properties. In short I predict median property prices in Auckland to fall as much as NZD5,000 in August 2007 and thereafter most likely a free fall.

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