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saw this comment
Heh heh!! As an Indian I couldn't agree with it more! I moved to NZ in Nov 1986 and we bought our first home in March 1988 (when the interest rate was 22% and hose prices were deemed to be sky high)! We saved like mad because we wanted our own home!
No extravagant eating out, no overseas holidays; hell, no unnecessary spending at all. I bet most of these so called "foreign buyers" are NZ Chinese who have saved diligently. Looking at the numbers bandied about: there are about 100,000 Chinese in AK.
Supposedly 1600 houses were bought by Chinese during the period in discussion (4000 x 40%). Means 1.6% (or less) of the local Chinese bought houses during the period. Is it that hard to believe (when you consider Chinese and Indians are big savers and invest with care)? Bah humbug! |
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