[donk.]

I was talking to the guys at work here in NZ about housing, two points were brought up

One:
Most houses here are 700k, entry level 500k, top end brand new home 2mil. (B tier city, not capital)
One of the guys: maaaan imagine having enough money to buy a 2mil brand new home, who has that kind of money?!??
Another guy: Imagine paying 600k for a townhouse, with a small garage, or no garage.
Me: how about paying 10 million for a condo with 0 "garage"....
First guy: in vancouver?
Me: yeah, I think they go up to about 15mil....
First guy: no way

Opens phone, looks up most expensive condos in vancouver, sure enough, bunch of listings for 15-30mil.

The guys are all just dumbfounded looking at the endless listings for condos 10x the price of a nice house in NZ

Two:
The topic of foreign buyers snatching up houses here came up, one of the guys said the Chinese have 1% interest rates they call pull in china, and buy houses here like hotcakes.
I got home, looked it up, and it seems like china has not had a spike in interest rates, at all. It dropped during covid, and it kept dropping to this day.
There is no x2-x3 interest rate hikes in china like the rest of the world is seeing.
While 1% rates don't exist, the bank rate seems to be sizzling at 3%ish?

Rumor has it, the whole evergrande, plus housing problem is causing havoc, and the banks are trying to promote buying homes by keeping the rates low.

How much of this is true, I don't know, I'm sure 50% of this forum could chime in for better info.