Links 17 May 2017

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  1. New Zealand housing market overvalued, could go bust, says Goldman Sachs – New Zealand Herald News

    http://www.nzherald.co.nz/rotorua-daily-post/news/article.cfm?c_id=1503438&objectid=11857022

    New Zealand’s housing market has a 40 per cent chance of going bust in the next two years, according to global investment bank Goldman Sachs.

    In a research note published this week Goldman says the New Zealand’s housing market is the most over-valued amongst the G-10 group of developed economies, Bloomberg reports.

    Goldman, Bloomberg said, defines bust as house prices falling five percent or more after adjustment for inflation. … view and read more via hyperlink above …

    https://news.google.com/news/story?cf=all&hl=en&pz=1&ned=nz&q=goldman+new+zealand+housing&cf=all&ncl=dgSMQQxjFo4sqrMbJ5_xAJ52jHLkM&scoring=n

    … check 5 highlighted graphs …

    http://www.performanceurbanplanning.org/

    Why has the National – led Government allowed this to happen ?

    • Garth Turner of Canada’s Greater Fool blog outlines how bubbles burst …

      Garth Turners Greater Fool Blog … ‘MAYDAY ?’
      … h/t PH …

      http://www.greaterfool.ca/2017/05/01/mayday-2/

      Over six thousand people decided to sell their GTA properties in the last seven days. Of those 6,050 new listings roughly 1,500 were condos, which might suggest a whole mess of locals have decided to cash in their detached lottery ticket before this gig is up.

      No wonder. The angst and heebeejeebees this pathetic blog has been wallowing in for the last few weeks has finally made into what’s left of the MSM. Like this story in today’s Toronto Star:

      It is like a tap has been switched off. That’s how realtor Louise Sabino describes the housing market in the wake of the Liberal government’s provincial plan aimed at cooling Toronto’s scorching property prices.

      “I think it’s shocking that it did make the impact so fast,” the Royal LePage Signature Realty agent said.

      That’s the funny thing about bubbles. Everybody’s horny to get their hands on rising assets – until they’re not. It always happens fast, whatever the asset and no matter the trigger. Greed is a powerful emotion, but it wilts before the dominance of fear. If enough people fear houses will stop rising (prices don’t even need to decline), they’ll cease making the Herculean sacrifice required to buy one. And down she goes. … read more via hyperlink above …

      About Garth Turner … Greater Fool Blog

      http://www.greaterfool.ca/about-garth-turner/

      Google News Search ‘Home Capital Canada’

      https://www.google.co.nz/?gws_rd=ssl#q=home+capital+canada&tbm=nws&spf=731

  2. Regarding plastic in the ocean, there should be a tax on plastic bags.

    Strange how governments are happy to be speed limit nazis and even shower head nazis but not willing to put a 10 cent tax on each plastic bag.

  3. Anyone else think the laptop ban is a crock as you could quite easily just program it (or whatever they are worried about) to explode in the cargo hold anyhow. And going through as cabin luggage would probably mean it would be subject to closer inspection. What am I missing?

    • drsmithyMEMBER

      Nothing. More security theatre.

      Heck, it doesn’t even qualify as security theatre since it also conflicts directly with the requirement NOT to put laptops into checked luggage because of their lithium batteries.