The Kākā by Bernard Hickey
The Kākā by Bernard Hickey
Dawn Chorus: MIQ stops taking bookings
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-11:17

Dawn Chorus: MIQ stops taking bookings

MBIE 'pauses' release of new rooms and previously cancelled rooms due to delta outbreak 'for a few days'; Agents report surge in home buying interest; China, US economic data weaker than expected

TLDR & TLDL: The pressure on our borders is intensifying as we extend the level four lockdowns until at least Friday night nationwide and at least next Tuesday night in Auckland.

MBIE announced last night it was ‘temporarily pausing’ the release of new MIQ rooms and previously cancelled rooms due to the current delta outbreak. It later reiterated the ‘pause’ would be for a few days.

It’s possible that the increased risk of leaks from MIQ facilities (due to delta’s infectiousness) will mean even tighter border restrictions. For now, the release of new MIQ rooms has been ‘temporarily paused’. Photo: The Kaka

Elsewhere over the last 24 hours, economic data out of China, the United States and Australia was weaker than expected as the delta outbreaks overseas hammer consumer confidence, and as China’s internal push to slow steel production for climate reasons, hammers hard commodity prices.

So what? Our lockdowns are likely to last longer and be more painful than previous ones, and the borders are likely to be tightened even further, possibly including a full suspension of all international flights. Meanwhile, the slowing global and local economies is pushing the prospect for higher interest rates here further off into the distance. All that means low interest rates for longer, which is encouraging equity-rich home buyers to look at buying more and harder, estate agents now report.


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Ka kite ano

Bernard

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The Kākā by Bernard Hickey
The Kākā by Bernard Hickey
Bernard Hickey and friends explore the political economy together.