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New Zealand Surpasses USA & Canada For Highest Interest Rates


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https://www.reuters.com/markets/rates-bonds/new-zealand-expected-deliver-record-rate-hike-inflation-persists-2022-11-22/

 

New Zealand raised its Central Bank trend setting rate to 4.25% and increase of 75 basis points from the previous 3.5%

 

This makes New Zealand the new industrialized/developed economy with the highest interest rate surpassing USA & Canada both which sit at 3.75%

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Reid LePage

Makes sense, the housing crisis is genuinely ridiculous right now :( students living out of cars or just studying correspondently and living with parents

Edited by Reid LePage
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Economy
4 minutes ago, Reid LePage said:

Makes sense, the housing crisis is genuinely ridiculous right now :( students living out of cars or just studying correspondently and living with parents

I just hope higher rates bring the prices down more than just a modest amount already 

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Helxig

Shut up SHUT UP! 

I've been trying to buy an apartment over here but our market it totally fukked and my bank approved me for way less than they originally were going to because of high interest rates and I've just reached the decision that I might need to give up on my dream of owning my own place :smh:  or at least save up for another year. **** this country and **** the banks

I'll be myself until they fūcking close the coffin.
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RAMROD

Now why is that? Is it because the land mass is small hence the housing building are scarce and cannot build more?  :udidnt:

(ノ◕ヮ◕)ノ✧*:・゚ start from the bottom, now I'm vers (*´艸`*) ♡♡♡
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Helxig
1 hour ago, RAMROD said:

Now why is that? Is it because the land mass is small hence the housing building are scarce and cannot build more?  :udidnt:

New Zealand is about the size of the state of Colorado :huntyga:  and most of it is farmland/nature

I'll be myself until they fūcking close the coffin.
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pachinko
3 hours ago, Helxig said:

Shut up SHUT UP! 

I've been trying to buy an apartment over here but our market it totally fukked and my bank approved me for way less than they originally were going to because of high interest rates and I've just reached the decision that I might need to give up on my dream of owning my own place :smh:  or at least save up for another year. **** this country and **** the banks

Onlyfans is what I’m considering. We all should. 

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Economy
7 hours ago, Helxig said:

Shut up SHUT UP! 

I've been trying to buy an apartment over here but our market it totally fukked and my bank approved me for way less than they originally were going to because of high interest rates and I've just reached the decision that I might need to give up on my dream of owning my own place :smh:  or at least save up for another year. **** this country and **** the banks

I mean, low rates contributed in part to prices getting as high as they did in the first place

 

14 years straight of uninterrupted rock bottom rates coincided with the biggest global boom in real estate in history

 

And it's not exclusive to NZ trust me. Here in Canada ain't no one buying a house either :giveup:

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Helxig
20 hours ago, pachinko said:

Onlyfans is what I’m considering. We all should. 

Noone wants that from me honestly :laughga:  I don't think my confidence could handle getting 0 subs

 

16 hours ago, Economy said:

I mean, low rates contributed in part to prices getting as high as they did in the first place

 

14 years straight of uninterrupted rock bottom rates coincided with the biggest global boom in real estate in history

 

And it's not exclusive to NZ trust me. Here in Canada ain't no one buying a house either :giveup:

It's just upsetting, because I don't think it's a radical idea to believe that everyone should have the ability to own a home for themselves. But nothing we can do I guess but accept the world we live in and do out best

I'll be myself until they fūcking close the coffin.
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Economy
16 hours ago, Helxig said:

Noone wants that from me honestly :laughga:  I don't think my confidence could handle getting 0 subs

 

It's just upsetting, because I don't think it's a radical idea to believe that everyone should have the ability to own a home for themselves. But nothing we can do I guess but accept the world we live in and do out best

Between the fact that so many countries have seriously complicated house construction (and NIMBYs don't help with densification either) and add to that the fact that realestate became seen as an investment and commodity rather than just where someone lives, all together it got as expensive as it did :nails:

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