We need to prepare for the fact it's not going to be next week, and it's unlikely within the next three months
It's looking like longer term... We are going to be in this for the long haul.
There will be a future time when tourists can visit New Zealand again, but now is not that time.
So here's my completely non-expert thinking. There is AirBNB. Also there are some hotels already have a body corporate, private owner, who converted "rooms" into apartments. Also there are apartments that were used by international students.
My guess is a lot of apartments will be on the market. So I'd expect prices to drop well below QV.
Since I'm unemployed, I'm planning on selling my home to give me the flexibility to move anywhere. It's close to Wellington, and I'd expect government jobs are pretty secure, and some may actually increase.
I don't know if people will be looking to invest in houses, as a safe investment, or whether there'll be such a slow down that few will want to move.
I'd expect houses to get cheaper in Dunedin and Palmerston North (less students). I'd expect any city depending on tourism would also have more houses for sale, as unemployed people look to cash out (Rotorua, Queenstown)
Anyone else have an opinion about what the real estate market will look like in May?