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World’s Frothiest Housing Market Cools in Global Warning Signal

New Zealand’s home sales and prices are tumbling, providing a glimpse of what may unfold elsewhere.

Bloomberg business news
We're Heading Into a Housing Recession: NAHB CEO

New Zealand’s housing market has abruptly snapped from frenzied to floundering — and it may be a harbinger of what’s to come around the world.

Sales are plunging by double digits. Prices just fell the most in 13 years. And homes that would have previously sold in days are now sitting on the market for weeks.