Buy low, sell high?
From the Herald
Expectations of house price inflation continue to climb in ASB’s latest quarterly survey and are close to their all-time high 10 years ago.
The same seller’s market is reflected in a drop in the net balance of people who consider it a good time to buy a house
That doesn’t make sense to me. If people expect house prices to keep rising, ie, that houses now are cheaper than in the future, they should want to buy. Is the market confused, or is it the Herald (or, of course, me)?
Thomas Lumley (@tslumley) is Professor of Biostatistics at the University of Auckland. His research interests include semiparametric models, survey sampling, statistical computing, foundations of statistics, and whatever methodological problems his medical collaborators come up with. See all posts by Thomas Lumley »