Hous­ing nerves

Sunday Star-Times - - Focus -

Shamubeel Eaqub (‘‘The fu­ture just got murkier’’, Busi­ness, October 22) cor­rectly iden­ti­fies house­hold debt as the big chal­lenge pre­sented to the in­com­ing gov­ern­ment. Most of such debt is held in over-priced real es­tate, fi­nanced by peo­ple who are al­ready mort­gaged up to the limit of pos­si­bil­ity. The first one to blink and in­struct his agent to sell at mar­ket price will start the slide. It’s all so pre­dictable.

Mike Hin­stridge, Auck­land

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