[Ash Housewares]

I’ve been in NZ for over a year. Prices here are falling, but nowhere near as fast as in SoCal. Many people are still in denial here, or, if they have accepted price declines, are clinging to the soft landing/plateau theory. I don’t think things will fall as far as in CA for the reasons the article mentions. Banks don’t lend with less than 20% down, interest rates are around 8%, you actually have to prove your income, and the loans are recourse. I expect to see something like what middle America is experiencing, with 10-20% drops in nominal prices.

The reserve bank governor is surprisingly honest and competent here. He has been among the earliest in calling the price declines.

NZ is already being killed by the unwinding of the carry trade. NZD just hit a 5 year low against the USD, not sure it has much further to fall. The agricultural sector is going gangbusters (NZ is the “Saudi Arabia of milk”) and essentially keeping the country afloat. I don’t think tourism will fall too much thanks to the weakened currency.

[Ash Housewares]

I’ve been in NZ for over a year. Prices here are falling, but nowhere near as fast as in SoCal. Many people are still in denial here, or, if they have accepted price declines, are clinging to the soft landing/plateau theory. I don’t think things will fall as far as in CA for the reasons the article mentions. Banks don’t lend with less than 20% down, interest rates are around 8%, you actually have to prove your income, and the loans are recourse. I expect to see something like what middle America is experiencing, with 10-20% drops in nominal prices.

The reserve bank governor is surprisingly honest and competent here. He has been among the earliest in calling the price declines.

NZ is already being killed by the unwinding of the carry trade. NZD just hit a 5 year low against the USD, not sure it has much further to fall. The agricultural sector is going gangbusters (NZ is the “Saudi Arabia of milk”) and essentially keeping the country afloat. I don’t think tourism will fall too much thanks to the weakened currency.

[Ash Housewares]

I’ve been in NZ for over a year. Prices here are falling, but nowhere near as fast as in SoCal. Many people are still in denial here, or, if they have accepted price declines, are clinging to the soft landing/plateau theory. I don’t think things will fall as far as in CA for the reasons the article mentions. Banks don’t lend with less than 20% down, interest rates are around 8%, you actually have to prove your income, and the loans are recourse. I expect to see something like what middle America is experiencing, with 10-20% drops in nominal prices.

The reserve bank governor is surprisingly honest and competent here. He has been among the earliest in calling the price declines.

NZ is already being killed by the unwinding of the carry trade. NZD just hit a 5 year low against the USD, not sure it has much further to fall. The agricultural sector is going gangbusters (NZ is the “Saudi Arabia of milk”) and essentially keeping the country afloat. I don’t think tourism will fall too much thanks to the weakened currency.

[Ash Housewares]

I’ve been in NZ for over a year. Prices here are falling, but nowhere near as fast as in SoCal. Many people are still in denial here, or, if they have accepted price declines, are clinging to the soft landing/plateau theory. I don’t think things will fall as far as in CA for the reasons the article mentions. Banks don’t lend with less than 20% down, interest rates are around 8%, you actually have to prove your income, and the loans are recourse. I expect to see something like what middle America is experiencing, with 10-20% drops in nominal prices.

The reserve bank governor is surprisingly honest and competent here. He has been among the earliest in calling the price declines.

NZ is already being killed by the unwinding of the carry trade. NZD just hit a 5 year low against the USD, not sure it has much further to fall. The agricultural sector is going gangbusters (NZ is the “Saudi Arabia of milk”) and essentially keeping the country afloat. I don’t think tourism will fall too much thanks to the weakened currency.

[Ash Housewares]

[quote=jficquette]Arraya,

You bash Bush because you have a twisted view of reality. Anyone who watch’s that video with an open mind would see where the blame belongs.

John[/quote]

John, please. I’ve been reading this blog since long before you arrived. Arraya is one of the most informed, analytical people on here, while you are consistently the most partisan of any poster. It’s incredible to watch you accuse others of being close minded. Talk about twisted reality.

[Ash Housewares]

[quote=jficquette]Arraya,

You bash Bush because you have a twisted view of reality. Anyone who watch’s that video with an open mind would see where the blame belongs.

John[/quote]

John, please. I’ve been reading this blog since long before you arrived. Arraya is one of the most informed, analytical people on here, while you are consistently the most partisan of any poster. It’s incredible to watch you accuse others of being close minded. Talk about twisted reality.

[Ash Housewares]

[quote=jficquette]Arraya,

You bash Bush because you have a twisted view of reality. Anyone who watch’s that video with an open mind would see where the blame belongs.

John[/quote]

John, please. I’ve been reading this blog since long before you arrived. Arraya is one of the most informed, analytical people on here, while you are consistently the most partisan of any poster. It’s incredible to watch you accuse others of being close minded. Talk about twisted reality.

[Ash Housewares]

[quote=jficquette]Arraya,

You bash Bush because you have a twisted view of reality. Anyone who watch’s that video with an open mind would see where the blame belongs.

John[/quote]

John, please. I’ve been reading this blog since long before you arrived. Arraya is one of the most informed, analytical people on here, while you are consistently the most partisan of any poster. It’s incredible to watch you accuse others of being close minded. Talk about twisted reality.

[Ash Housewares]

[quote=jficquette]Arraya,

You bash Bush because you have a twisted view of reality. Anyone who watch’s that video with an open mind would see where the blame belongs.

John[/quote]

John, please. I’ve been reading this blog since long before you arrived. Arraya is one of the most informed, analytical people on here, while you are consistently the most partisan of any poster. It’s incredible to watch you accuse others of being close minded. Talk about twisted reality.

[Ash Housewares]

[quote]I have finally figured out what we are all missing[/quote]

Cowbell! We need more cowbell!

[Ash Housewares]

[quote]I have finally figured out what we are all missing[/quote]

Cowbell! We need more cowbell!

[Ash Housewares]

[quote]I have finally figured out what we are all missing[/quote]

Cowbell! We need more cowbell!

[Ash Housewares]

[quote]I have finally figured out what we are all missing[/quote]

Cowbell! We need more cowbell!

[Ash Housewares]

[quote]I have finally figured out what we are all missing[/quote]

Cowbell! We need more cowbell!

[Ash Housewares]

[quote=arraya]No thank you…

http://www.huffingtonpost.com/2008/09/02/palins-church-may-have-sh_n_123205.html

Speaking before the Pentecostal church, Palin painted the current war in Iraq as a messianic affair in which the United States could act out the will of the Lord.

“Pray for our military men and women who are striving to do what is right. Also, for this country, that our leaders, our national leaders, are sending [U.S. soldiers] out on a task that is from God,” she exhorted the congregants. “That’s what we have to make sure that we’re praying for, that there is a plan and that that plan is God’s plan.”

[/quote]

Wow, that sends a chill down my spine

[Author]

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