For a long time now, the global property market has been used and abused as an investment opportunity. A property has been viewed as a speculative financial investment rather than a place of safety and security as a family home. Whether by individuals, so-called ‘charities’, corporates or the Globalists, the ten-ish-yearly cycle of the property ‘bubbles’ have been predictable and undoubtedly manipulated to serve-up massive capital growth. Recently, Pierre Poilievre, in his bid for for success in the forthcoming Canadian elections, criticized the current housing market including the over-priced, over-speculated house values. The Trudeau government, like many Governments leading the NWO policies that counter-intuitively aim for their economies to self-destruct, continue to provide lip-service to the housing issue while exacerbating the situation for many families in difficulties because of the tyrannical COVID19 restrictions, vaccine mandates and other policies.
Like Canada, New Zealand is also in serious trouble with its housing market. High levels of personal debt, relatively low salaries (even for highly skilled work), increasingly high costs of living and lack of set age pension provision (except relatively recently via the KiwiSaver scheme) has made property (and land) an obvious target for those keen to make an ‘easy’ profit. Or so it seemed….
Recent NZ tax law changes have provided serious disincentives for individuals without the savvy accountant, from engaging speculatively with buy-to-let markets. And the recently announced hike in Bank Interest Rates, with more threatened soon, makes borrowing money out of reach for many, especially those in sectors like hospitality, which have suffered an extreme blow from the COVID19 policies that have virtually annihilated tourism in the country, when the borders were closed.
The other elephant in the room is the quality of that housing – many of these NZ over-priced timber-framed properties are past their life expectancy and/or in a poor state of repair; historically, a lack of expected due-diligence by lenders to basic building inspection reports for maintenance and health and safety requirements, may mean that some values for older and/or relocated properties were already well below the realistic level, even before the imminent crash. Newly-built urban properties are also suspect – many have been built quickly with sub-standard overseas materials and squashed into footprints that limit privacy and restrict the provision of any outside space. This is not good for families’ mental health or for sustainable communities. Worryingly, landlords operating with multiple rental properties, with mortgages founded on perceived capital of one against another are common. It could be a potential domino effect?
It remains to be seen what may happen to the New Zealand property market, but the data is a useful tool: over the past three months, there has been an increase of 43% of properties listed for sale on the popular Trademe website – eg today that total is 33,000+ and climbing.
Demand is low when unemployment, interest rates and costs of living are all rising; houses are overpriced and banks are understandably getting stricter in their lending criteria. Inevitably, as property stays on the market for longer, and other mortgagees get anxious, prices begin to come down – but that process is only just beginning to be evident. Instability and anxiety is all around us now, the WEF plans for the financial crash are only a matter of time.
In a time when preparation is key, is it time to consider alternative ways of living? Living in a home, investing time and energy into creating a space to be happy and healthy, has never been so important. That is why many people are changing their lifestyles to embrace parallel society communities, with sustainable arrangements for a happier future.