The economy is anything but strong. Housing skyrocketed across 20/21/22 in particular, and now coming back down with a thump, combined with big cost of living hikes things are looking grim for your average salaried worker (especially if they have a big/recent mortgage, there's some negative equity love to be had). The only thing that might save us this summer from a very dark outlook is finally the tourists are coming back.. so that might soften the landing.

For context a lot of mortgages of recent times people got at very low rates fixed for 1-2 years (https://www.asb.co.nz/documents/economic-research/home-loan-... ) and now (https://www.asb.co.nz/home-loans-mortgages/interest-rates-fe...) that's a brutal shift for people that had budgeted at 2.5% when their food bills are heading for the moon as well along with other living expenses.

Not discounting that most countries are having these problems, but it's fairly extreme here.

"Wellington continues to have the greatest proportion, with 38% of first home buyers who bought during the last three months of 2021 now in negative equity." https://www.stuff.co.nz/business/property/129611585/first-ho...

Job prospect wise: Devs are (and have been) enjoying a very strong market, but I think (personally) we're going to see some challenging times ahead once the retail reality of Christmas flows through. The banks had been on hiring binges (hey just like US tech co's) and they're going to wind off just as quickly as they wound on.

So come, but eyes wide open if you do. If you've got a sh*tload of money to bring with you, can get over the cost of living, there's probably some deals to be had in a year or two...