>From memory, an authoritative source said last week that from 2002 - 2008,
100,000 individuals made untaxed profits of $NZ 300 billion, from the real
estate "investment" market.
Now the prices are up, and people who would sell are "waiting the fall out";
prices are declining but not by a lot relative to the 300% increase, and many
like me who had hoped to buy a house are forced to rent :-(
If things stay like they are, people like my daughter will never be able to buy
a house. Her income is low and there is little scope for increase in the
current tight job market.
Brian Swale.
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