Over the last 80+ years the longest US recession has been only 18 months, this has also been the case in New Zealand including the Stock market crash of 87, the GFC in 2009 and Covid.
The housing crisis that this country has will not end soon.
We had nearly 22,000 migrants to NZ in February. Our population has grown by 130,000 this year alone.
There are over 18,000 homeless in Auckland alone and 24,000…. yes, 24,000 Applicants for social housing!
There is absolutely no doubt we have a massive problem.
So why do I see the property market come back in full force by the end of the year? Just look at what I wrote above.