SORRY ABOUT THAT

With the enthusiasm of a salesman I touted our current Reserve Bank Governor, Adrian Orr (2018 – present) as the clearest thinker since Alan Bollard (2002 – 2012).

He faced some scary events with our entire education, tourism and hospitality industries completely and suddenly shut down with Covid, and reacted with John Key coolness.

But when Grant Roberston started bullying him with the impossible task of 100% employment AND 1% to 3% inflation……… who won?

Even I make mistakes but when people tell me I listen.

Adrian Orr hasn’t just forgotten his independence he’s succumbed boots and all to this Government and gone nuts.

I quote (Jamie Gray, NZ Herald 27 July 2022) Governor Orr: “..climate change, Te Ao Maori (no, me neither), and financial inclusion do not distract the monetary policy committee……and remain highly relevant to the Reserve Bank in achieving our legislative purpose of increasing economic prosperity and well-being for all New Zealanders”.

If you’re getting a little weak-kneed at seeing what our Reserve Bank has become I might as well finish you off with this clanger…….

“We are a learning institution…..”

Oh. Dear. Me.

Presumptive though I am I was hoping for just a little more confidence than that from the Reserve Bank Governor. I teach sales staff if they’re completely lost just shut up.

I’d go down to help him but he’s actually passed the carpark chat stage. That’s when a salesman and I go to the carpark and I’m the only one who comes back.

On a positive note, because there always is one, I’m going to stick my neck out and say……..the current market rebalance (drop) has bottomed out and spring is coming early.

I have held back buying since Christmas as I won’t take fees in a falling market but It’s all on again and the prices have gone from $650,000 to $750,000 suddenly to $750,000 to $850,000 gulp……but now back to $650,000 to $750,000.

Last week of 187 TradeMe properties I looked at 41 (takes two days) and of these have two under contract and 11 other screaming bargains I want to buy for you.

My Co-Op, New Zealand’s first vehicle for Group Housing Ownership has just launched and I need three more with $100,000 to own a brilliant brand new Terrace in Sunnyvale. By Glen Eden Station. $775,000 total. 10 year Master Build……call me…….0274-984.097.

Cheers all,

Martin