They both had graphs for housing loan approvals:
Now, the New Zealand home loan figure jumped, while the US PURCHASE figure hasn’t.
My questions are
- if we take into account seasonal adjustment and refinancing, is the New Zealand purchase figure rising?
- if the New Zealand purchase figure is rising, why – especially when the US (where prices have fallen a lot more) is still struggling.
If the purchase figure is rising, I’d be tempted to put it down to a “supply” issue – US housing market is over-stocked, ours is looking a little light.