14. Are We In A Housing Bubble?

Mark Churton is back to ruin the party 🥳🧍‍♂️😒 Everyone has seen the housing prices bloom even after the NZ governments policy tweaks to 'cool it off.' However, Cindy has said she doesn't want to see the houseprices to drop 📉😅 Why not? Well firstly our whole neoliberal economy needs a constant stream of debt to keep people buying shit they don't need.  The rise in house prices is a shot of heroine to our unproductive economy. If you can't make it, fake it as they say. So thats what we are doing. Real Estate Agents, Developers, Banks and Home Owners have a lot to celebrate. So that's what they are doing, look around at the new cars, home extensions and investment properties since Covid 🆒🚙 But, this has been paid by increasing our debt level. Interest rates make it irresistible and you don't want to be left behind.  What if these interest rates climb though? It's ok at 2% interest, but what about 8% interest, 4x's the current rate. People are going to drown in debt. The scary thing is, with governments printing free money due to covid, inflation should occur by hasn't yet. This toxic mix looks like it's leading us to something that looks like Germany in the 1930's. Germany printed money to pay off WW1 reparations. Not long after that, it was cheaper to burn cash than buy firewood 📈🔥 I hope we are ready for that because unfortunately it's the young and poor that are going to pay the heavy price for the party.  After a big party always comes a good hangover. The question is, how bad is the hangover going to be...