Published on 08/08/2023
Some economists predicted that increased Covid-related spending would find its way into house prices. And so it did.
In hindsight, their predictions were logical - a lot more money was suddenly chasing the same number of homes. But times change. Higher mortgage rates have hit house prices and for the first time in a generation, some homeowners owe more on the mortgage than their home would sell for in the current market.
As Sam Stubbs explains in his latest Stuff editorial, there is justifiable anxiety about the direction of the housing market. But where to from here? Sam argues, that for several key reasons, including tax and basic supply and demand, theres a very strong likelihood that house prices will start rising again, and soon.
You can read the full article on Stuff.
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