New Zealand house prices plummet (Housing Bubble 2.0 is toast)

by Boo_Randy

Don’t look now, but the insane housing bubbles blown by 14 years of central bank ultra-easy monetary policies are starting to burst. As in 2008, this is going to be the catalyst for the next Great Financial Crisis – only this time around, the Keynesian fraudsters at the central banks have already blown their wad after flooding financial markets with at least $32 trillion in created-out-of-thin-air “stimulus.” Got popcorn?

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CoreLogic has released its June house price results for New Zealand, with dwelling values nationally recording their fastest quarterly decline since February 2009 following three consecutive 0.8% monthly declines:

The national measure of property values fell a further -0.8% in June, completing a hat-trick of months at the same rate of decline (-0.8% in both April and May). The quarterly fall of -2.3% is the biggest drop over a three month period since February 2009, which is just prior to when the market bottomed out (at an average value of $372,681 in March 2009) following the Global Financial Crisis (GFC).


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