Reality Bites

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One of my agent mates emailed me this morning saying:

“Days to sell in my area increased by 33 in last month.   Feb sales lowest for years but Property Press over the last few weeks have been larger than normal.

Maybe a bundle of investors trying to sell off 1 of their rentals prior to new tax laws?

Plenty of cashed up buyers just slow to act unless its a deal!”

This is of course of no surprise to me as it is exactly what I have been predicting, right down to the cashed up buyers.

So my question is why does the government keep talking about this recovery we are having and our slow ascent out of recession etc.?

At our Auckland event we spent a lot of time encouraging and inspiring people to counter the negative noise many of us battle with and teh change in people is incredible. So it occurred to me today that maybe the political spin doctors are trying to do the same thing?  Maybe because things are so uncertain and potentially bad economically they have said to John Key:

“Look let’s talk things up for a bit so people feel better. At least then when the bovine eschatology hits the whirly thing they are at a better emotional level and then when we can’t hide the bad news any longer they will have more depth to fall before hitting rock bottom”.

Maybe that’s a plan Stan, maybe that is a valid way to try and manage a long term bad news position to try and not push a country into despondency??

What do you think??  I’d love to get your comments!

Stay Inspired and Stay Safe ~ Dean Letfus

The Ethical Investor