NZ isn't alone in having a red-hot housing market

NZ isn't alone in having a red-hot housing market
Westpac acting chief economist Michael Gordon says the Reserve Bank won't raise interest rates any time soon.
Jenny Ruth
CNN reported a fixer-upper in suburban Washington DC attracted 88 offers within three days of listing, 76 of them all-cash offers.Business Insider reported that a smallish house in suburban Sacramento in California got 122 offers in two days and sold for about US$50,000 (NZ$70,868) over the $400,000 asking price.The Economist reported US house prices rose 11% in the year ended January, the fastest pace of price increase in 15 years, while house prices in Britain increased 8% and by 9% in Germany in 2020.The US National Association of Realtors s...

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