ZT: Economist Nouriel Roubini picks NZ housing bubble

NewLynnHse

http://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=11166353

Nouriel Roubini, the American economist and financial expert dubbed Dr Doom - who predicted last decade's global meltdown - has picked New Zealand as having one of the world's most precarious housing markets.

And it is precisely because we didn't suffer a big slump last decade - like Spain, Ireland or the United States - that we could be in for a hiding.

Roubini, widely acclaimed for his bearish views and insightful analysis, accurately picked the collapse of the United States housing market and the worldwide recession which started in 2008.

Now, he has ranked New Zealand in a group with 16 other countries as having a potentially toxic residential property market.

The Washington Post has reported him picking 17 countries as being in danger of suffering a calamity.


"Roubini sees housing prices getting out of whack in quite a few small and mid-sized nations that are well-governed and managed to avoid the worst economic effects of the financial crisis: Switzerland, Sweden, Norway, Finland, France, Germany, Canada, Australia, New Zealand and the London metropolitan area of the UK," the Post reports.

"He adds some key emerging markets that show the same dynamic: Hong Kong, Singapore, China and Israel, the major urban centres on Turkey, Indonesia, India and Brazil."

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bungyjumping999

never says never.

remember when gold prices drop in early this yr, many household Chinese went to buy and think it is a bargain......well, now is even lower.  gold is entering into bear market as it seems.

http://www.interest.co.nz/person ... falls-us-dollars-ac