I know you like a laugh. Yes you've done well out of RSG, but the housing boom in Auckland has been so massive even the poor people are rich. Can you believe that? It's true.
In Otara, Auckland's worst suburb, a place you definitely wouldn't want to live, houses are selling over $600,000, gentrification is on its way.
Personally I think it's great, it's given many a real leg up and allowed large numbers of older people to move out of town and retire, of course it doesn't come without it's problems, there could be a downturn that could leave many newcomers in negative equity, but everyone knows the risks.
The downturn won't be instant, the HUI could be though. I certainly glad I didn't take your advice over the last few years and load up on grossly overpriced gold bars.
